Reliance Industries Ltd reportedly has offered a 40 per cent stake in its retail arm worth about USD 20 billion to Amazon.com, Inc, a report the company said was speculative.
Reliance Industries is offering to sell about $20 Billion in its retail business to Amazon. The e-commerce retailer held discussions about investing in Mukesh Ambani's company and has expressed interest in negotiating a potential transaction.
Shares of Reliance Industries continued to rally on Thursday, gaining nearly 3 per cent, on US private equity firm Silver Lake Partners’ 1.75 per cent stake-buying plan in the firm’s retail arm for Rs 7,500 crore.
US private equity firm Silver Lake Partners has picked 1.75 per cent stake in Reliance Retail for Rs 7,500 crore, the Indian firm said in a statement on Wednesday. The investment values Reliance Retail at Rs 4.21 lakh crore.
Industrialist Mukesh Ambani's Reliance Industries Ltd on Saturday announced the acquisition of Future Group businesses for Rs 24,713 crore to add to its fast-expanding retail business and bolster e-commerce to take on the competition from Amazon.com.
Former Indian Oil Corp (IOC) chairman Sanjiv Singh has joined Reliance Industries Ltd as Group President for billionaire Mukesh Ambani-run firm's oil-to-chemicals business.
The next big battle of billionaires Mukesh Ambani and Jeff Bezos is set to be on the e-pharma front. According to a report in the Live Mint, both the companies are looking to diversify into the e-pharma segment.
China's ByteDance is in early talks with Mukesh Ambani's Reliance Industries Ltd for investment in its video-based app TikTok's business in India, according to TechCrunch. The report said the two companies began conversations late last month. However, they have not reached a deal yet.
Reliance had broken into the top 100 in 2012 ranking when it was ranked 99th but slipped in subsequent years to rank 215th in 2016. Since then it has risen steadily, according to Fortune List.
S&P Global Ratings on Monday said that Reliance Industries Ltd's sizable proceeds from asset monetisation over the past four months should significantly improve its credit quality.
Saudi Aramco is still chasing a deal to buy a $15 billion stake in Reliance Industries' refining and chemicals business, according to a Bloomberg report. While Aramco is a major supplier of crude to India, Reliance sells petroleum products, including gasoline, to the kingdom.
Billionaire Mukesh Ambani's Reliance Industries Ltd has a 15-year vision to build itself as a new energy company that aims to recycle CO2, create value from plastic waste and has an optimal mix of clean and affordable energy, analysts said.
The combined market valuation of six of the top ten most valued companies rose by Rs 74,240 crore during the last week, with Reliance Industries leading the pack. Six firms, namely Reliance Industries Ltd (RIL), Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, ITC and ICICI Bank logged gains in their market valuation for the trading week closed on Friday.
FutureBrand, which is a global brand transformation company, said part of Reliance's success could be attributed to Mukesh Ambani's recasting of the firm as a one-stop-shop for Indians.
Reliance Industries Limited has been unstoppable in recent weeks as the corporate behemoth has attracted huge investments from world-over. On Wednesday, RIL shares declined by 4 per cent after eight-day rally.
Equities came under heavy selling pressure in the afternoon session on July 29 with benchmark indices slipping by 1 per cent amid mixed cues in global markets.The BSE SandP Sensex closed 422 points or 1.1 per cent lower at 38,071 while the Nifty 50 l
Reliance Industries has overtaken ExxonMobil to become the world's second most valuable energy company after its market capitalisation scaled to a record high of over Rs 14 lakh crore.
Billionaire Mukesh Ambani is now the world's fifth-richest man. The Real-Time Billionaires List by Forbes Magazine shows Ambani, the chairman of oil-to-conglomerate Reliance Industries, at the fifth position, just below Facebook's Mark Zuckerberg.
Reliance is all set to tranform lives with consumer application of 5G stack that they claim would connect everything - digitise ecosystem, upscaling workforce - once spectrum is available in India.
Jio Glass supports more than 25 applications that enable a virtual meetings. With Jio Glass, one can have an immersive, high-class visual experience with holographic view.
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