Nita Ambani, the chairperson of RIL's philanthropic arm Reliance Foundation, on Wednesday announced the inclusion of two more village clusters in Gujarat, viz. Modasa and Jasdan, in the foundation's unique Bharat India Jodo (BIJ) initiative.
Nita announced financial support of Rs 1 crore for each of Modasa and Jasdan, for the upliftment of marginalized farmers and their families in the two village clusters.
Mukesh Ambani, who is the Chairman & MD of Reliance Industries, retained his position as the richest Indian person for the sixth straight year with a net worth of $21.5 billion.
According to Forbes , Mukesh Ambani is the twenty second richest person in the world this year while the second richest Indian, Lakshmi Mittal is at 41st position with a net worth of $ 16.5 billion. The third position in India was occupied by Azim Premji ahead of Dilip Shanghvi, Shashi & Ravi Ruia, Kumar Mangalam Birla, Savitri Jindal, Sunil Mittal, Shiv Nadar, K P Singh and Anil Ambani.
Reliance Sibur Elastomers Pvt. Ltd. (RSEPL), a joint venture between India's RIL and Russia's Sibur, has started building their new butyl rubber plant in Jamnagar.
The JV aims to commission the plant, which will be India's first manufacturer of butyl rubber, in 2015. The manufacturing facility will reportedly produce 100,000 tonnes of butyl rubber annually.
The Harvard Business Review (HBR) has released its list of 100 global chief executives worldwide and it includes eight Indian CEOs.
ITC's YC Deveshwar and late Subir Raha of ONGC were included among the top 20 CEOs in the world. Other Indian finding a place in the list were Subir Raha of ONGC, at 13th place, of Reliance Industries' Mukesh Ambani at 28th rank, Larsen & Toubro's AM Naik was ranked 32nd, followed by BHEL's AK Puri at 38, Bharti Airtel's Sunil Bharti Mittal at 65, Jindal Steel and Power's Naveen Jindal on 87th postion and Steel Authority of India's VS Jain at 89st position.
Indian Stocks market closed lower on Thursday as majority of stocks lost ground due to weak investor sentiment. The concerns of US fiscal issues has caused fall of Asian and European markets.
BSE Sensex closed 148 points lower at 18471 after Diwali. NSE Nifty closed 36 points lower at 5631. Among major losers were heavyweight counters including Grasim, ITC and Tata Steel.
Indian stock market closed flat after benchmark BSE Sensex touched an intraday high of 17,726. NSE Nifty closed at 5338. European Markets opened negative and this led to decline in Indian stocks during the end of the trading session.
FTSE was down by 0.5%, CAC 40 was down by 0.62 per cent at 3431 while DAX was down by 46 points at 6921. Asian Markets were mixed with Nikkei 225 gained 0.88% while Straits Times down by 0.51%. Hang Seng ended the day flat.
Reliance Industries Ltd (RIL) has reported an increase of 21 per cent in net profit to 44.73 billion rupees compared to the same quarter in the previous year marking the third consecutive of a fall in net profits for the company.
The fall comes after the company saw a decline in revenues from refining and petrochemicals business. However, the fall in margins from the refining business has been less than expected and the treasury gains from its cash reserves also helped boost profits for the company.
Indian Stock Market opened positive on Tuesday and has stayed in positive territory for most part of the trading session except for a decline at 2 pm IST. All the Asian markets closed in positive zone. Hang Seng was up by 294 points. The European markets have opened positive.
Heavyweight counters in Indian market including Reliance, ITC and BHEL dragged the indices down. Reliance was down by 0.4% after touching intraday high of Rs 742. ITC was trading at 246.5, down by 1.4%. TCS was down by nearly two per cent.
BSE Sensex breached 16,000 level in today's trading session and closed at four month low. BSE Sensex closed 1.83 per cent lower at 16030. For BSE Sensex, 52-week low is 15,190 and if the economic troubles continue, market experts believe that we may see further lows for Indian market. In the past three months, the markets have declined 11.7 per cent.
Among sectors, Automobiles, Banking, Capital Goods, Consumer Durables and Metals were major losers. All sectoral indices closed in the red.
Sudarshan Sukhani of s2analytics.com has expressed concerns over weakness in Reliance Industries stock. He said that the bluechip company controlled by Mukesh Ambani is already hovering around its 52-week lows. He does not expect the company to see a quick recovery from current lows.
Reliance Industries Ltd(RIL) has said that its unit in the US has raised $500 million through a sale of bonds. Reliance Holdings USA Inc, which is the wholly owned subsidiary of RIL, has been able to raise $1 billion through an issue of bonds.
According to experts, the move that will encourage more Indian firms to follow the route to raise funds through global issue of bonds.
Mukesh Ambani led Reliance Industries Limited is planning to release its new 4G broadband network, which will offer exclusive content and high speed connectivity at affordable prices, in the country later this year.
Though inflation is only rising and till now has given no indication of reducing, Reliance Mutual Fund is pretty much sure that this wind of uncertainty would pass on and day full of positivity would rise.
There is no doubt that for now equity market is performing below the level but if Reliance Mutual Funds verdict is to be considered then investors’ efforts would not go in vain and in coming 12 to 18 months, the invested equities would generate positive returns.
Mukesh Ambani, who is the world's ninth richest man and the owner of Reliance, has revealed that the slowing gas production has resulted in the drop of 30% stocks this year.
It was reported that Reliance was overtaken by Coal India, the world's largest coal miner, revealed that the stock in India was the best performer for this year on the country's top index.
According to recent developments in the stock market, Reliance Power has moved up by 300% in terms of their revenues earned in the first quarter of the year.
They now reside at Rs 541.80 crore. They were playing at a mere Rs 139.33 crore at the same time a year earlier.
It was revealed by the authorities of the firm which is owned by Anil Dhirubhai Ambani group, that the total income of the firm saw a 72% increase. It was Rs 401.18 crores earlier and is now Rs 689 crore.
Reliance Industries, the largest private oil and gas explorer in India, is looking forward to sell out its Reliance Gas Transportation Infrastructure Ltd, claimed the Wall Street Journal, and the price at which it was to be sold was estimated to be $1 billion.
India gets three-quarters of fuel imported and was now concentrating on the manufacturing of the oil so as to increase its economic development speedily. A Britain-based fuel company BP was ready to pay out $7.2 billion for a
30% share in Reliance's 23rd largely unexplored deepwater oil and gas fields, with an option for making further payments on the basis of the success from the exploration.
The two major corporate houses Tata and Reliance Infocomm are indulged in intense argument that who was the real beneficiary of telecom polices under former telecom minister a Raja.
Both the companies are blaming each other on licensing issue, Tata blamed that Reliance Infocomm won the license out of turn while Reliance called Tata bid mistrustful.
CBI authorities have investigated some officials of Anil Ambani’s group company Reliance Communication for their involvement in 2G scam, which has ruined company’s reputation. While Reliance authorities are blaming its corporate, rivals for this conspiracy.
Today for AAA Project Ventures, a Reliance Anil Dhirubhai Ambani promoter group company 22.6 million equity shares are allotted by Reliance Infrastructure for Rs 2,095 crore. These were issued to them not in favor of changeable warrants.
The company has assumed that this new equity capital has elevated the promoter group's holding. It has increased near about 5 percent, before it was 43 percent.
Last year during April 19.6 million equity shares were exchanged by the Promoter Company and there was an investment of Rs 1,821 crore made in the company.
Mukesh Ambani led Reliance Group is planning to expand operations in lieu of Reliance Retail in Uttar Pradesh and Eastern India once again, where it originally stumble upon crude weather because of political campaigning.
The special arrangements in the markets such as Lucknow, Kanpur, Ghaziabad and Noida are planned as Reliance Retail wants to start its company in these markets first. After the clearance of the state government strategies, grocery retailing will be leveled as it was planned.
Reliance-Anil Dhirubhai Ambani Group has experienced a sharp price rise in ADAG shares which fizzled out the stock market yesterday. BSE shares ended on 0.3 percent.
Stock prices of Anil Ambani's farms were hovering between 3-7%. According to the experts, the same price hike in the shares was witnessed in the month of June when two brothers named Mukesh and Anil Ambani started a dispute over a contract.