Page 7 - Mukesh Ambani

RIL arm acquires 21% stake in US-based Wavetech Helium for $12 million

The acquisition, according to industry sources, is seen as RIL's attempt to gain further understanding and explore potential in the helium-related segment

Reliance's refining margins recover but retail remains uncertain: JPMorgan

One of the two drivers of Reliance Industries Ltd's recent underperformance - weak refining margin - has reversed but the other, poor-retail top-line growth, is difficult to anticipate, brokerage JP Morgan said in a report. Reliance stock is down 22 per cent from its peak on July 8 (NIFTY down 3.3 per cent), sharply reversing outperformance from earlier in the year. In a market where most stocks are trading well above historical valuations, Reliance's fair relative valuations are an attraction. The company helmed by billionaire Mukesh Ambani has three main business verticals - oil refining and petrochemical business housed in oil-to-chemical (O2C) unit, telecom arm Jio and retail. It also has a media unit and a new energy business. Reliance Retail plus Telecom now account for about 50 per cent of total 2023-24 (FY24) consolidated EBITDA. These, JP Morgan estimates, will account for almost all of net EBITDA growth over the next three years. With an EBITDA run-rate of USD 20 billion

Maharashtra polls: Mukesh Ambani, family cast votes in Mumbai

Maharashtra polls: Mukesh Ambani, family cast votes in Mumbai

Adani plans $2 bn convention centre in Mumbai to rival Ambani's Jio Centre

The Mumbai Metropolitan Region Development Authority has reportedly approved Adani's international convention centre design, set to be Mumbai's largest

Supreme Court dismisses 1994 Sebi appeal against Ambani's Reliance entities

SC dismisses Sebi's appeal against Reliance Investment Holdings, Mukesh, and Anil Ambani over 1994 takeover norms breach, citing 'inordinate delay' in the regulator's actions

Zhang Yiming tops China's rich list, but Mukesh Ambani still leads Asia

India is riding high, adding more billionaires than ever and outpacing China's wealth growth

India to see 20 times growth in computing capacity in 2024: Nvidia CEO

India, a country "dear" to the world's computer industry, is set to witness 20 times growth in compute capacities in 2024, and will soon be exporting impactful AI solutions, Nvidia founder and CEO Jensen Huang said on Thursday. Speaking at the Nvidia AI Summit 2024 here, Huang emphasised Nvidia's commitment to expanding its ecosystem in India. "India is very, very dear to the world's computer industry, central to the IT industry, at the centre and core of the IT of just about every single company in the world. "Nvidia's ecosystem in India is very rich; 2024 will see a a 20 times growth in compute capacities in India," he said. Huang described the current state of the industry as undergoing a "seismic change" due to AI advancements and suggested that India, which has traditionally been a hub for software exportation, is poised to become a leader in AI exportation in the future. "India exported software; in the future, India will export AI," he said, pointing towards the country ...

Starlink vs Jio: Trai extends satellite spectrum pricing debate deadline

Major satellite players like Musk's Starlink and Jeff Bezos-owned Amazon Kuiper are advocating for lower spectrum prices in India

Musk VS Ambani: Centre rejects Ambani's satellite spectrum auction proposal

Billionaire Elon Musk welcomed India’s indication of preferring the allocation route for satellite spectrum over auctions.

Centre rejects satellite spectrum auction; Elon Musk says much appreciated

Earlier, Elon Musk had criticised Mukesh Ambani's auction proposal for satellite services as "unprecedented", while advocating for a direct licensing method of allocation

Reliance results: Weak O2C, Retail biz to keep shares sideways, say experts

RIL share price: Some brokerages have also cut Reliance Industries (RIL) share price targets, factoring-in the sluggishness seen in oil-to-chemical (O2C) and retail verticals

Elon Musk takes on Ambani over satellite spectrum allocation in India

The disagreement centres around whether satellite broadband spectrum should be auctioned or administratively allocated in India

Jio Platforms Q2FY25 results: Higher tariffs see net profit at Rs 6.5K cr

ARPU rises to Rs. 195.1 after 4 quarters, but subs fall after 7-quarter growth streak

Satellite spectrum battle: Ambani calls for auction; Musk backs allocation

While Starlink and Amazon's Project Kuiper are batting for administrative allocation of satellite spectrum, Reliance Industries argues that auctions are necessary to ensure a fair playing field

Bill Gates remembers Ratan Tata's legacy: 'Moved by his sense of purpose'

Ratan Tata passed away on Wednesday. Many noted personalities paid tributes to the former Tata Sons chairman's remarkable life, remembering his dedication to society's progress

Forbes 2024: Ambani leads, Adani gains big, India's rich hit new high

This year marks a milestone for India's wealthiest, as the collective wealth of top 100 richest Indians crossed $1 trillion for the first time. Mukesh Ambani tops Forbes' 2024 List as India's richest

Life comes back full circle for RIL stock in Navratri 2024; here's how

Reliance Industries stock traded below the 200-DMA in Navratri 2023, and has now once again slipped below the key long-term moving average after almost a year. Check key support levels for RIL here.

BP to continue with Ambani firm even after exclusivity with Reliance ends

Global supermajor BP Plc's exclusivity with Reliance Industries Ltd has ended but the energy giant will continue to pursue oil and gas as well as mobility ventures in India with the Mukesh Ambani firm owing to an unwritten strategic partnership, BP's outgoing India head Sashi Mukundan said. BP in 2011 spent USD 7.2 billion to acquire 30 per cent interest in 23 oil and gas blocks of Reliance. Eastern offshore KG-D6 block was the cornerstone of the deal that also provided for a 10-year exclusivity period which meant that BP would take up energy projects or investments in India only in partnership with Reliance. The firm has so far invested more than USD 12 billion across the energy value chain including bringing on stream three new deepwater natural gas projects in KG-D6 that account for one-third of India's gas production. "We started working with Reliance as early as 2005 when first (the then BP CEO) Lord John Browne visited India," Mukundan said. It finally fructified in the 2011

Armani/Caffe makes India debut with launch at Jio World Plaza in Mumbai

Reliance Retail launched India's first Armani cafe at Jio World Plaza in Mumbai. The upscale cafe, Italian fashion house Giorgio Armani, features designer's favourite dishes, and 52 imported wines

Mukesh Ambani reaches Mumbai hospital to visit Deepika-Ranveer's baby girl

Mukesh Ambani visited Deepika Padukone and Ranveer Singh in hospital last night to congratulate the couple and bless the newborn. The B'wood couple became parents to a baby girl on Sept 8