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Tag: Reliance

Reliance Retail Is Second Fastest Growing Retailer In The World
Reliance Retail Is Second Fastest Growing Retailer In The World

Reliance Retail ranks 53rd in the list of Global Powers of Retailing by Deloitte, improves from 56th earlier. It remains the 2nd fastest-growing retailer in the world despite the base effect of being No.1 last year.

Owner Of Explosives-Laden SUV Abandoned Near Mukesh Ambani's Home Found Dead
Owner Of Explosives-Laden SUV Abandoned Near Mukesh Ambani's Home Found Dead

Thane (Maharashtra): In an intriguing development, police have recovered the body of a Thane-based businessman whose stolen SUV with 20 gelatin sticks was found parked near Antilia, the iconic home of Reliance Industries Ltd. Chairman Mukesh Ambani, officials said here on Friday. The body of Mansukh Hiren — who had reported his Scorpio SUV as […]

Richest Asian: China's Bottled Water King Zhong Shanshan Replaces Mukesh Ambani
Richest Asian: China's Bottled Water King Zhong Shanshan Replaces Mukesh Ambani

New Delhi: Founder of bottled water company Nongfu Spring, Zhong Shanshan has overtaken Reliance Industries Chairman Mukesh Ambani as the richest person in Asia, with a net worth of $77.8 billion. The Bloomberg Billionaires Index showed that Zhong’s net worth has surged $70.9 billion making him the richest man in Asia above both Mukesh Ambani […]

Markets March Higher On COVID-19 Vaccine Progress
Markets March Higher On COVID-19 Vaccine Progress

Mumbai: Equity benchmarks made a winning start to the week on Monday as positive results from another COVID-19 vaccine candidate bolstered investor confidence globally. After touching a record intra-day high of 44,271.15, the 30-share BSE Sensex ended 194.90 points or 0.44 per cent higher at 44,077.15. Similarly, the broader NSE Nifty rose 67.40 points or […]

Sensex Sinks 540 Pts As Amazon-RIL Clash Spooks Investors
Sensex Sinks 540 Pts As Amazon-RIL Clash Spooks Investors

Mumbai: Equity indices spiralled lower on Monday following heavy losses in Reliance Industries after Amazon won an interim arbitration award to stall the Mukesh Ambani-led firm’s acquisition of Future Group’s retail assets. A sharp fall in the rupee and a negative trend in global markets further unnerved investors, traders said. After tanking 737 points during […]

Deal With RIL In Line With Indian Laws, Not Party To Agreement With Amazon: Future

Mumbai: After a Singapore arbitration court ordered a temporary stay on Reliance Retail’s acquisition of the debt laden Future Group’s retail business, the latter has said that the deal with Reliance Retail is in consonance with Indian laws. It further said that it is not a party to the agreement under which Amazon has invoked […]

Future-Reliance Deal Put On Hold, Amazon Wins Interim Relief
Future-Reliance Deal Put On Hold, Amazon Wins Interim Relief

New Delhi: Amazon.com Inc on Sunday won an interim award against its partner Future Group selling retail business to Reliance Industries Ltd for Rs 24,713 crore after a Singapore-based single judge arbitration panel put the deal on hold. Amazon, which had agreed to purchase 49 per cent of one of Future’s unlisted firms last year […]

TPG To Invest Rs 1,837 Crore In Reliance Retail Ventures

New Delhi: Reliance Industries Limited and Reliance Retail Ventures Limited (RRVL) announced on Saturday that global investment firm TPG will invest Rs 1,837.5 crore into RRVL, a subsidiary of Reliance Industries. This investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. TPG’s investment will translate into a 0.41 per cent […]

Silver Lake To Invest Rs 7,500 Cr In Reliance Retail

Mumbai: Reliance Industries Limited (RIL) on Wednesday announced that Silver Lake will invest Rs 7,500 crore into its subsidiary Reliance Retail Ventures Limited (RRVL). The investment values RRVL at a pre-money equity value of Rs 4.21 lakh crore. Silver Lake’s investment will translate into a 1.75 per cent equity stake in RRVL on a fully […]

Reliance Retail Buys Future Group For Rs 24,713 Cr

New Delhi: Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Limited, on Saturday announced that it is acquiring the retail, wholesale, logistics and warehousing business from the Future Group as going concerns on a slump sale basis for lump sum aggregate consideration of Rs 24,713 crore, subject to adjustments as set out in […]

After TikTok Ban, ByteDance Reaches Out To Reliance Jio For A Deal

New Delhi: As ByteDance continues to struggle in the US, a new report claimed on Thursday that China-based company that owns the short-video making app TikTok may sell its India business to Reliance Jio amid uncertainties around its operations in the country. Citing people familiar with the early-stage discussions, Tech Crunch reported that the “two […]

Top Philanthropists Of 2020: Nita Ambani Makes It To The List As Only Indian

New Delhi: The summer issue of Town & Country, America’s leading general-interest magazine, has featured Nita Ambani and the Reliance Foundation among the top philanthropists of 2020 “who are saving lives and our sense of hope” given the circumstances of Covid-19. The coverage spotlights Ambani for leading Reliance Foundation’s efforts in feeding frontline workers and […]

Abu Dhabi-based Mubadala invests Rs 9,093 cr in RIL's Jio Platforms

Mumbai: Reliance Industries Ltd on Friday announced that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading […]

Sensex jumps 500 points, trades over 32,000-mark

Mumbai: The key Indian equity indices opened on a positive note on Monday, with the BSE Sensex increasing over 500 points, to trade over the psychological 32,000-mark. The surge in the domestic market was in line with the Asian indices. Market sentiments have been boosted on hopes of reopening of the global economies. At 10.09 […]

Reliance JioMart goes live on WhatsApp

Mumbai: After signing a massive $5.7 billion deal with Facebook, Reliance Industries latest venture to expand into the retail market, JioMart, has reportedly gone live with its official WhatsApp number. According to media reports, JioMart is currently available in the suburban Mumbai areas of Navi Mumbai, Thane and Kalyan currently. However, the service is expected […]

Sensex Jumps Over 200 Pts; Nifty Reclaims 12,200

Mumbai: Market benchmark Sensex jumped over 200 points on Wednesday tracking gains in index heavyweights HDFC twins, Infosys and Reliance Industries as global stocks recovered from the previous day’s losses. The 30-share BSE index was trading 204.30 points or 0.49 per cent higher at 41,528.11. Similarly, the broader NSE was trading 46.70 points, or 0.38 […]

Sensex Tanks 304 Pts On Last Day Of 2019; Nifty Drops Below 12,200

Mumbai: Market benchmark Sensex slumped 304 points on the last trading session of 2019, dragged by losses in index-heavyweights Reliance Industries, HDFC twins, ICICI Bank and TCS. After swinging over 423 points intra-day, the 30-share BSE Sensex ended down by 304.26 points, or 0.73 per cent, at 41,253.74. The broader NSE Nifty closed 87.40 points, […]

Mukesh Ambani Adds $16.5 Billion To His Fortune In 2019

New Delhi: Reliance Industries (RIL) Chairman Mukesh Ambani added $16.5 billion to his wealth in 2019 taking his total net worth to $60.8 billion, according to the Bloomberg Billionaires Index. With around $61 billion of net worth as of Tuesday, the petroleum-to-telecom tycoon is the 12th richest person in the world. The recent consistent rise […]

Govt To Lift Pricing Curbs On Domestically Produced Gas

New Delhi: In one of the last reforms in the oil and gas sector, the government is set to free up pricing of all domestically produced gas that would help scale up local production from fields of ONGC, OIL, Reliance and Vedanta and help create a uniform gas where the fuel is freely tradable on […]

Domestic Growth Of India's Computer Services To Cut 'Over-Reliance' On Exports: UNCTAD

United Nations: The domestic market for India’s computer services sector is forecast to grow faster than its export market lessening its “over-reliance” on foreign countries, according to a report by the UN Conference on Trade and Development (UNCTAD). In India, which ranked second globally among the exporters of information communications technologies (ICT) services, the domestic […]

Reliance Jio Propels Growth Of KaiOS In India

New Delhi: Devices powered by KaiOS have been in the market only since mid-2017. But thanks to the huge popularity of Jio phones from Reliance, this light Linux-based operating system today has a greater market share than iOS in India. Built by San Diego, California-headquartered start-up KaiOS Technologies and led by CEO Sebastien Codeville, KaiOS […]

RIL's 'new commerce' to digitally connect kirana stores

Mumbai: Reliance Industries (RIL) Chairman Mukesh Ambani on Monday said the company’s retail arm will soon unveil Reliance New Commerce, an initiative to digitally connect kirana stores across the country. Speaking to shareholders at RIL’s 42nd Annual General Meeting, Ambani said that the trials of Reliance Retail’s digital commerce venture have delivered positive results. “This […]

Reliance Jio offer and recharge plans
Reliance Jio Adds Over 3 lakh subscribers in Odisha in April: TRAI Report

Bhubaneswar: Reliance Jio has once again topped with net addition of 3.03 lakh subscribers in April, revealed a recently released telecom subscriber data by the Telecom Regulatory Authority of India (TRAI). As per this TRAI subscriber data for April, the net subscriber addition by Reliance Jio in the State stood at 3.03 lakhs followed by […]

Sensex in red, Reliance Industries down 1.57%

Mumbai: Indian equities traded in red during the morning trade session on Monday after opening slightly higher. Index heavyweight Reliance Industries was down 1.56 per cent on the BSE. Asian shares opened mixed as investors were cautious ahead of the Federal Reserve meeting. At 9.25 a.m. the Sensex was trading 112.01 points or 0.28 per cent […]

Anil Ambani's Reliance to withdraw defamation cases against Congress, Herald

Ahmedabad: The Reliance Group, led by Anil Ambani, on Tuesday announced its decision to withdraw the Rs 5,000 crore civil defamation suit, filed in a court here, against Congress leaders and the National Herald newspaper over their statements and an article on the controversial Rafale fighter jet deal. The court of city civil and sessions […]