Billionaire Mukesh Ambani has accelerated the timeframe for wiping out Rs 1.61 lakh crore of net debt at his Reliance Industries by bringing in strategic investors in key businesses as well as committing more equity.
Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first such issue in nearly three decades, as it steps up efforts to pare debt.
Reliance Jio on Thursday reported a 177 percent jump in fourth quarter net profit to Rs 2,331 crore. The telecom venture of billionaire Mukesh Ambani had logged a net profit of Rs 840 crore in the same quarter a year back.
Mukesh Ambani's Reliance Industries will announce its financials for the March quarter on April 30. As per reports, RIL is considering issuing equity shares to existing shareholders on a rights basis.
Mukesh Ambani's Reliance Industries Ltd and Mark Zuckerberg-founded Facebook on Wednesday announced that the US tech giant will buy a 9.99 per cent stake for $5.7 billion (Rs 43,574 crore) in India's oil-retail-telecom conglomerate Reliance Industries Limited (RIL) led Jio Platforms.
Reliance Industries (RIL) share price has zoomed in the early trade today on the back of Facebook's mega-investment worth Rs 43,574 in Jio Platforms for a 9.99 per cent stake. Jio Platforms is a wholly-owned subsidiary of Reliance Industries.
Reliance Foundation has scaled up its meal distribution programme under Mission Anna Seva to provide over 3 crore meals to marginalised and under-resourced communities across India.
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Bharti Airtel and Reliance Jio will continue to gain market share at the cost of Vodafone Idea''s "worsened" financial health that may deteriorate further in the wake of the AGR judgment, Axis Capital said in a note on Friday.
Reliance Industries' chief Mukesh Ambani on Monday committed a further Rs 500 crore to the Prime Minister's COVID-19 fund, topping up over the multi-crore initiative of India's first coronavirus hospital, meals to the needy, and fuel to emergency vehicles.
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Reliance has decided to ramp up production capacity to 1 lakh masks per day, free fuel to emergency vehicles carrying Covid-19 patients and free meals in various cities to support the livelihood of those impacted by the coronavirus outbreak.
The world's biggest oil exporter Saudi Aramco has said it is focusing its downstream investments in high-growth nations such as India as it negotiates a deal to buy up to 20 per cent stake in Reliance Industries' USD 75 billion oil-to-chemical business. In its latest annual report, Aramco said it is looking at investment opportunities in high-growth markets as well as nations that rely on importing crude oil.
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The Anil Ambani-controlled Reliance Capital group firm Reliance Home Finance has defaulted on loan repayment of Rs 40.08 crore in February, it said in a regulatory filing on Tuesday.
Six of the 10 most valued domestic companies suffered a combined erosion of Rs 95,432.26 crore in market valuation last week, dragged down by Reliance Industries Limited (RIL) and HDFC Bank amid a bearish trend in the broader market.
The ten most valued domestic firms together lost a massive Rs 3.35 lakh crore from their market capitalization last week, as the equity markets witnessed massive sell-off amid fears of coronavirus outbreak turning into a pandemic.
Reliance Industries Chairman Mukesh Ambani had a two-hour-long meeting with Andhra Pradesh Chief Minister YS Jagan Mohan Reddy at the latter's residence here on Saturday, where industrial development in the state and investments were discussed.
Bharti Airtel Chairman Sunil Mittal on Thursday met Telecom Minister as AGR issue looms large on his company. After his meeting, Mittal described AGR crisis as "unprecedented" for Indian Telecom industry. Airtel has until March 17 to pay Rs 35,600 crore to the government as part of (Adjusted Gross Revenue) payment.
Reliance Industries Ltd (RIL) shares traded marginally lower by 0.91 per cent on Tuesday after the company announced a consolidation of all its media and distribution businesses under the flagship 'Network18'.
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