Reliance Industries, India's most valuable company, will hold its first online AGM today and it promises to be a much bigger affair with a brand-new virtual platform that can log more than 1 lakh shareholders from 500 locations simultaneously.
Global energy supermajor BP plc and Reliance Industries Ltd on Thursday announced the start of their fuel retailing joint venture under the brand 'Jio-bp'.
After touching a high of 36,661.66 during the day, the 30-share index settled 465.86 points, or 1.29 per cent, higher at 36,487.28; while the NSE Nifty soared 156.30 points, or 1.47 per cent, to 10,763.65.
With this investment, Jio Platforms has raised Rs 117,588.45 crore from leading technology investors including Facebook, which bought a 9.99 percent stake for Rs 43,574 crore on April 22, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton, PIF and Intel.
Fitch Ratings on Thursday said it has upgraded Reliance Industries Ltd's rating to 'BBB+' from 'BBB' as the company's financial profile has improved following sale of nearly 25 per cent stake in Jio and Rs 53,124 crore equity raise.
Calling Orange in France, Jio in India and Telstra in Australia as 'clean telcos' for refusing to do business with firms from China, US Secretary of State Mike Pompeo has claimed that Chinese tech giant Huawei’s deals with telecommunications operators around the world are “evaporating”.
Businessman Anil Ambani on Tuesday claimed he had not given any personal guarantee for a borrowing made by Reliance Communications (RCom) from three Chinese banks against the backdrop of a UK court directing him to pay USD 717 million to the three lenders.
After Tata Consultancy Services (TCS), Reliance Industries will hold its first virtual annual general meeting of shareholders on July 15 as public gatherings are not possible in view of the coronavirus pandemic.
Equity benchmark indices advanced by 1.5 per cent on Friday led by gains in Reliance Industries which become net debt-free ahead of its March 2021 target.
The market valuation of Reliance Industries Ltd crossed Rs 11 lakh crore on Friday as shares rallied over 6 per cent after chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.
Equity benchmark Sensex rallied 524 points on Friday, propelled by stellar gains in index-heavyweight Reliance Industries amid positive sentiment in global markets and fresh foreign fund inflows.
Global alternative asset firm TPG and consumer focused private equity firms L Catterton on Saturday bought 0.93 per cent and 0.39 per cent stake in Jio Platforms, investing a total of Rs 6,441 crore.
Shares of Reliance Industries on Friday reversed early losses and closed over 3 per cent higher, helping the benchmark indices to finish with gains.
As the stock price of Reliance Industries Limited (RIL) hit an all-time high of Rs 1,624 on the BSE, the RIL story has defied experts and naysayers who cast doubts on the share's instrinsic value and commented that the price will fall post rights issue that closed on June 3.
Reliance Industries on Sunday said it sold 1.16 per cent stake in its digital unit to Abu Dhabi Investment Authority (ADIA) for Rs 5,683.50 crore, taking the cumulative fund raising to Rs 97,885.65 crore that will help pare debt at the oil-to-telecom conglomerate.
Equity benchmark indices edged higher during early hours on Friday due to gains in index heavyweight Reliance Industries and metal stocks.
Mukesh Ambani's Reliance Jio has received an investment worth whooping Rs 87,655 crore in the last 6 weeks. The most recent of the lot came in face of Rs 9,093 crore invested by Abu Dhabi based Mubadala investment company. Mubadala's investment in Reliance Jio will translate into 1.85 per cent equity state.
Reliance Industries mega Rs 53,124 crore rights issue is the largest in the world by a non-financial issuer in the last 10 years, an analyst said. Oil-to-telecom conglomerate Reliance Industries Ltd's rights issue opened for the subscription of shareholders on May 20 and will close on Wednesday.
The Mukesh Ambani-led Reliance Industries has received a resounding response to its Rs 53,124 crore RIL rights issue. The country's largest-ever fundraising initiative got oversubscribed 1.1 times on June 1, 2020, with two more days to go.
Mukesh Ambani’s Reliance Industries Ltd has launched an online grocery service, JioMart across India, after running pilot programme in Maharashtra’s Navi Mumbai, Thane, and Kalyan. Reliance's JioMart is expected to challenge its rivalling Amazon.com's local unit and Walmart Inc's Flipkart in the huge Indian market.
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