Page 13 - Reliance Group

Nita M Ambani launches Her Circle EveryBODY Project on Women's Day

On International Women's Day, Nita M Ambani, founder-chairperson of Reliance Foundation, launched Her Circle, EveryBODY Project - a one-stop destination to provide women-related engaging and upliftment-oriented content even as it connects women through a social platform. Her Circle was founded and launched by Nita Ambani, wife of billionaire Mukesh Ambani, in 2021 to create a safe, inclusive and growth-oriented digital haven for women. "On its second anniversary, the platform has become India's largest digital platform for women with a phenomenal overall reach of 310 million," Reliance Foundation said in a statement. Her Circle is a desktop and mobile-responsive website and is available as a free app on Google Play Store and iOS App Store. It is designed as a one-stop destination to provide women-related content that is engaging, and upliftment-oriented even as it connects women through a social platform. "She can engage as she watches vibrant videos, and reads articles with ...

Reliance said to tap McLaren's Hitesh Sethia as Jio Financial CEO

Sethia joined McLaren as its head of Europe in June last year and has been based in Frankfurt, according to his LinkedIn profile

Reliance to set up 10 gigawatt solar energy project in AP: Mukesh Ambani

Reliance Industries Chairman Mukesh Ambani on Friday said his group will be investing in Andhra Pradesh to set up a 10 gigawatt renewable solar energy project. Speaking at the inaugural session of the two-day Global Investors Summit 2023 here, Ambani said as much as Rs 1.50 lakh crore was invested in Reliances' KG-D6 assets, developing and supporting gas pipeline and the natural gas produced there is fuelling India's clean energy transition and will contribute to nearly 30 per cent of the country's gas production. "I would like to assure you that Reliance will continue to be an unflinching partner to the people and the Government of Andhra Pradesh in your state's all-around accelerated progress. This morning, I am happy to announce that we will continue our investments and we will invest in 10 gigawatts of renewable solar energy in the state of Andhra Pradesh, Ambani said. According to him, the rollout of Jio True 5G will be completed by the end of 2023 throughout the country and

Reliance to invest in 10 GW of renewable solar energy in Andhra: Ambani

Mukesh Ambani, Chairman and Managing Director of RIL, announced on Friday several new investment initiatives in Andhra Pradesh including 10 gigawatts of renewable solar energy in the state

Sanction to attach properties of DMRC not possible: Centre tells Delhi HC

The Delhi High Court on Thursday was informed by the Centre that it cannot give sanction for attachment of properties of Delhi Metro Rail Corporation (DMRC)

Norway sovereign fund raised Ambani bets ahead of Adani Group exit

Overall India bets have nearly doubled since pandemic began

Reliance opens its first store in partnership with Gap Inc. in Mumbai

Reliance Retail is the official retailer of Gap across all channels in India, the company said in a press release

Olectra Greentech unveils Hydrogen bus in partnership with Reliance

Olectra Greentech in technical partnership with Reliance on Thursday unveiled a Hydrogen Bus, which is a carbon-free alternative to traditional public transportation. Olectra Greentech Ltd (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system to the Indian market, a statement stated. In the wake of the depletion of natural resources and the negative impacts of air pollution and emissions, Olectra has taken the initiative to accelerate the development of Hydrogen-powered buses. This initiative will help out the Indian government to achieve carbon-free hydrogen ambitions. Olectra aims to contribute to the nation's environmentally sustainable energy security through its Hydrogen buses, the statement said. The 12-metre low-floor bus has a customisable seating capacity of 32 to 49 seats for passengers and one driver seat, it informed. A single hydrogen fill allows the bus to travel up to 400 km. Hydrogen fill for

Gautam Adani, and Mukesh Ambani are the top wealth losers this year

According to the Bloomberg Billionaires Index, Adani's wealth has eroded by more than $78 billion this calendar year

RIL will give us scale, can negotiate better with suppliers: METRO MD & CEO

The B2B model that METRO Cash and Carry is focussed on has a lot of opportunities in the Indian market, says METRO Cash & Carry MD & CEO Arvind Mediratta

RCap Resolution: NCLAT concludes hearing, reserves order on lenders' plea

The National Company Law Appellate Tribunal (NCLAT) on Tuesday concluded its hearing and reserved its order over the petition filed by lenders of Reliance Capital seeking a second round of financial bids for the debt-ridden firm, presently going through the insolvency resolution process. Senior advocate Mukul Rohatgi, representing Torrent Investments concluded his arguments and submitted that the Insolvency & Bankruptcy Code (IBC) intends for maximisation of the value, but the focus should be on the revival of the assets. Rohatgi contended that IBC is not a debt recovery platform and the Committee of Creditors should look beyond their individual recovery. "Focus should be on viability and feasibility," he said. On Monday, senior advocate Kapil Sibal representing for lenders had submitted that the intent of IBC is to maximise the value of the assets and the Committee of Creditors are free to negotiate the terms NCLAT was hearing a petition filed by Vistra ITCL (India), one of the .

Reliance group's Tony Jesudasan suffers heart attack, passes away at 71

Tony Jesudasan, a key lieutenant of Anil Ambani's Reliance group and one of the finest corporate communications and corporate affairs professionals, died early on Monday morning. He was 71. Earlier this month, Jesudasan had suffered a heart attack just as he took a flight from Bhopal, sources said. He was rushed to Fortis Hospital on arrival in Delhi, where he underwent angioplasty. He was then shifted to Medanta Hospital in Gurugram. He continued to be in critical care till his passing away at around 5 am on Monday, they said. He is survived by wife Parul Sharma and daughter Preetika. Jesudasan, or TJ as he was referred to by friends, turned 71 while he was at Fortis. He was group president for corporate communications and corporate affairs of R-ADAG. An MBA from FMS, Delhi, he was invited by Dhirubhai Ambani to join the then undivided Reliance in 1990. After the death of Dhirubhai, he chose to join the younger sibling when brothers Mukesh and Anil split. He remained Anil Ambani

GAIL imitates Reliance: Plans to import ethane from United States

India's largest gas firm GAIL is imitating billionaire Mukesh Ambani-led Reliance Industries Ltd in planning to import ethane from the US to replace natural gas and naphtha as feedstock at its petrochemical plants. "In a bid towards diversification of the feedstock, GAIL is looking to import ethane from ethane-surplus countries with matured export terminal infrastructure through water borne transportation to India and transport it further through GAIL's pipeline systems to demand centres," the company said in a tender document. It sought quotes to hire a very large ethane carrier (VLEC) for 20 years starting mid-2026 for importing ethane from the US. The ship with capacity of 80,000 to 99,000 cubic metres is targeted to take deliveries from US ports of Marcus Hook, Nederland, Morgan's Point or Beaumont and deliver ethane at Dahej or Hazira in Gujarat or Dabhol in Maharashtra. GAIL has a petrochemical plant at Pata, near Kanpur in Uttar Pradesh, and is also looking to set up another

Reliance, Aditya Birla Group, Tata to invest more than Rs 1 trillion in UP

India's leading conglomerates Reliance, Aditya Birla Group and Tata on Friday committed to invest more than Rs 1 lakh crore in Uttar Pradesh to expand their businesses in the near future. Reliance Industries will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity over the next four years, its Chairman Mukesh Ambani announced at the UP Global Investors Summit here. Similarly, Aditya Birla Group Chairman Kumar Mangalam Birla said his group has committed Rs 25,000 crore investment across its various businesses such as cement, metals, chemicals, financial services and renewable energy in the state. Tata Sons Chairman N Chandrasekaran said group firm Air India SATS will set up an integrated multi-modal cargo hub at the upcoming Jewar airport in partnership with Zurich Airport. In his address at the event, Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting .

BP-Reliance's giant deep-water project offshore nears completion

Billionaire Reliance Industries Ltd and UK supermajor BP are nearing start of production from their giant MJ deep-water project in the KG-D6 block, which will significantly boost gas output from the prized east coast asset, a top official said. The MJ field will come on stream this quarter, said Sashi Mukundan, Regional President and Head of Country, India, BP Group, at India Energy Week here. Reliance and BP are spending about USD 5 billion on further developing KG-D6 through three different projects, aimed at rejuvenating gas production from the offshore asset. While the first two developments -- R-cluster and Satellite Cluster -- have started gas production, MJ is now nearing completion. The two fields are currently producing around 20 million standard cubic meters per day of gas and MJ would help raise the output to 30 mmscmd, meeting up to 15 per cent of India's gas demand. "MJ, the third of three developments, is expected to come on stream this quarter. Together, R-Series, ..

Lenders plan to put Reliance Communications HQ in Navi Mumbai on sale

Indian lenders had sent the company, earlier owned by Anil Ambani, for debt resolution in May 2018

Reliance set to disrupt live streaming market with free IPL broadcast

The company is planning to make available the IPL broadcast in regional languages or bundle free IPL viewing with Jio telecom subscription packages

Lenders approve second round of auction for bankrupt Reliance Capital

In the first round, Torrent group emerged as the highest bidder by offering Rs 8,640 crore

Reliance group firms make open offer to buy 26% stake in Lotus Chocolate

Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL) - have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate. The firms will together acquire 33.38 lakh shares of Lotus Chocolate from the open market at a fixed price of Rs 115.50 per share, said a notice by DAM Capital, which is managing the offer. The offer will aggregate to a total consideration of Rs 38.56 crore over the full acceptance, said an open offer-detailed public statement shared by the company with stock exchanges on Thursday. The open offer starts on February 21 and closes on March 6, said the public notice. Shares of Lotus Chocolate, which manufactures chocolates, cocoa products and cocoa derivatives, had on Thursday closed at Rs 149.35 apiece, which was the highest price in the last three months. RCPL is the FMCG arm and a wholly-owned subsidiary of RRVL. The open offer follows RCPL's announcement last week for the acquisition

SKS Power Generation receives 7 bids, Reliance, Adani, NTPC among bidders

It can set the stage for another clash between the Adani and Reliance groups