Reliance Industries chairman Mukesh Ambani on Thursday unveiled ambitious plans for his digital and telecom empire, deepening his company’s ties with tech behemoths Google, Facebook and Microsoft.

Richest Indian Mukesh Ambani drew no salary from his flagship firm Reliance Industries Ltd in the fiscal year ended March 31 as he voluntarily gave up remuneration in light of the pandemic hitting the business and the economy. In its latest annual report, Reliance said Ambani’s remuneration for financial year 2020-21 was “nil.” In previous … Continue reading RIL chief Mukesh Ambani draws nil salary

After record fund raising, Reliance Industries Ltd now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and Oil-to-Chemicals, according to the firm’s chairman and managing director Mukesh Ambani.

India’s largest company in terms of market value, Reliance Industries (RIL), will bear the Covid-19 vaccination cost for its employees and their immediate family members, it said on Friday. RIL joins the growing list of companies covering vaccination costs for its people and their dependents. RIL has 1.95 lakh employees in India.

Billionaire Mukesh Ambani’s Reliance Industries Ltd will bear the cost of vaccinating its employees and their immediate family, totaling an estimated 12.2 lakh, as the oil-to-telecom conglomerate looks to safeguard them against the Covid-19 virus.

Reliance Industries Ltd expects to get the necessary approvals to hive off its oil-to-chemicals (O2C) business into a separate unit by the second quarter of the next fiscal year, the company said in a presentation to investors on Monday.

Amazon had asked for $40 million (around Rs 290.41 crore) in compensation from Future Group for the deal with Reliance Industries, and Amazon’s claim of not being informed of the deal is incorrect, documents submitted to the emergency arbitrator of SIAC by the Kishore Biyani-led firm said.

Kishore Biyani-led Future Retail Ltd (FRL) moved the Delhi high court on Wednesday against its single judge order directing the company to maintain status quo on its Rs 24,713 crore deal with Reliance Retail, which has been objected to by US-based e-commerce giant Amazon.

Billionaire Mukesh Ambani’s Reliance Industries Ltd has sourced the world’s first consignment of ‘carbon-neutral oil’ from the US as it looks to become a net zero-carbon company by 2035. Reliance, which operates the world’s largest single location oil refining complex at Jamnagar in Gujarat with capacity of 68.2 million tonnes a year, got 2 million … Continue reading RIL gets world’s first ‘carbon-neutral’ oil from US

Indian billionaire Mukesh Ambani doubled down on his promise to offer 5G services on his wireless network as early as this year, as his conglomerate Reliance Industries Ltd. reported a record profit aided by its consumer businesses.

On the back of Reliance’s fund-raising spree, private equity (PE) and venture capital (VC) investments in 2020 beat the pandemic blues and recorded the highest level in the last five years at $39.2 billion across 814 deals. This was 6.6% higher than 2019, which had seen 1,012 deals.

Markets regulator Sebi on Friday fined Reliance Industries, Mukesh Ambani and two other entities a total of Rs 70 crore for alleged manipulative trading in the shares of Reliance Petroleum — which was merged with RIL in 2009— in a case that dates back to 2007. Sebi, in its 95-page order, said in November 2007, … Continue reading RIL, Mukesh Ambani fined for ‘manipulative trades’

The Supreme Court on Thursday stayed a Securities Appellate Tribunal order upholding Sebi’s direction to RIL to pay up disgorged amount of Rs 447 crore on the condition that it deposited Rs 250 crore in the Investors’ Protection Fund.

Shares of Reliance Industries (RIL) jumped nearly 4 per cent in early trade on Monday after the Competition Commission approved the company’s proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group.

Reliance Industries (RIL) has acquired 96% of online furniture retailer Urban Ladder Home Decor Solutions for Rs 182 crore, ramping up its hybrid, online-to-offline commerce model and intensifying its fight against Amazon and Walmart-owned Flipkart.

The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani’s Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid.

Future Group’s flagship retail chain Big Bazaar, which was facing an acute inventory crunch as a result of non-payment or late payment of dues to suppliers, has received a fresh lease of life, due to Reliance Industries’s (RIL’s) JioMart.

Indian conglomerate Reliance has dismissed Amazon’s push to delay its acquisition of domestic retail giant Future Group, despite an arbitration panel suspending the deal following objections by the US online titan.

Billionaire Mukesh Ambani’s Reliance Industries has called off the proposed merger of his group’s entertainment business with Sony Pictures Networks India following a strategic rethink.

Reliance Life Sciences has developed an RT-PCR kit that promises diagnosis of Covid-19 infection in about 2 hours, company sources said. At present, Covid-19 RT-PCR test, which is a real-time reverse transcription-polymerase chain reaction test for the qualitative detection of nucleic acid from SARS-CoV-2, takes 24 hours for diagnosis. The kit is so far considered … Continue reading RIL develops kit that gives Covid results in 2 hrs

Billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) on Saturday said it has received Rs 7,500 crore from US private equity firm Silver Lake Partners, which has picked up 1.75 per cent stake in its retail arm. Earlier, on September 9, RIL had announced that Silver Lake would invest Rs 7,500 crore into its arm Reliance … Continue reading RIL’s retail arm receives Rs 7,500cr from Silver Lake