Reliance Industries Limited (RIL) on Monday unveiled India’s first Hydrogen Internal Combustion Engine technology solution for heavy-duty trucks flagged off by Prime Minister Narendra Modi at the India Energy Week in Bengaluru. A RIL release said that the Hydrogen Internal Combustion Engine (H2ICE)-powered trucks will emit near zero emissions, deliver performance on par with conventional […]
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Reliance to acquire 40 pc stake in brand Manish Malhotra
Manish Malhotra and Reliance Brands Limited (RBL) on Friday announced a strategic partnership aimed at accelerating the 16-year-old couture house’s growth plans in India and across the globe. In a statement, RBL said it has signed a definitive agreement to invest in founder and creative director, Manish Malhotra’s eponymous brand for a 40 […]
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Mukesh Ambani buys Britain’s iconic country club Stoke Park for Rs 592 crore
Reliance Industries Ltd (RIL) Director Mukesh Ambani has acquired Britain’s iconic country club and luxury golf resort, Stoke Park, for £57 million ( about Rs 592 crore). Worth mentioning here is that this is the second time Ambani has bought a legacy British brand. In 2019, he acquired the 261-year-old […]
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Future Group shares jump as Indian exchanges clear deal with Reliance
Shares in Future Group companies jumped 5% on Thursday after Indian stock exchanges approved the group’s $3.4 billion deal to sell its retail assets to Mukesh Ambani-led conglomerate Reliance Industries. The approval takes Future, which operates supermarkets like Big Bazaar and high-end food stores such as Foodhall in India, a […]
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Indian shares rise over 1% on boost from Reliance, HDFC
Indian shares rose more than 1% on Tuesday as heavyweights Reliance and Housing Development Finance Corp provided a boost, with investors eyeing upbeat global cues ahead of a new presidency under U.S. President-elect Joe Biden. The blue-chip NSE Nifty 50 index gained 1.2% to 14,447 and the benchmark S&P BSE […]
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Reliance to embed e-commerce app into WhatsApp within six months
Mukesh Ambani’s Reliance Industries plans to embed its ecommerce app JioMart into WhatsApp within six months, financial daily Mint reported https://bit.ly/3oTRtPB on Monday, as the Indian conglomerate looks to ramp up its retail and grocery business in the country. Reliance, which has been trying to move away from its mainstay […]
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Indian stores shuttered by farmer protests cost Reliance, Walmart millions in revenue
Dozens of Reliance Industries’ retail stores and a giant Walmart outlet face revenue losses of millions of dollars after being forced to shut for more than three months over protests against India’s new farm laws, sources said. Thousands of farmers from states including northern Punjab have camped for weeks on […]
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Reliance is net-debt free after Rs 1.69 lakh crore fund raising: Mukesh Ambani
Billionaire Mukesh Ambani on Friday said his flagship firm Reliance Industries is now net-debt free after a record Rs 1.69 lakh crore fund raising in under two months. In a statement, Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a […]
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L Catterton to invest Rs 1,894.50 crore in RIL’s Jio Platforms
L Catterton, one of the world’s largest consumer-focused private equity firms, will pick up a 0.39% stake for Rs 1894.50 crore in Reliance Industries Limited’s digital unit Jio Platforms. This is an unprecedented tenth investment in Jio Platforms in seven weeks since April 22 this year. The oil-to-telecoms conglomerate raised […]
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Mukesh Ambani’s Jio adds TPG to backers with $600 million sale
TPG Capital agreed to pay 45.4 billion rupees ($600 million) for a stake in Jio Platforms Ltd., the telecommunications and digital services business of Reliance Industries Ltd., India’s largest company. The deal is for a 0.93% share, Reliance said in a statement. The Texas-based private equity firm’s backing adds to […]
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Jio Platforms raises Rs 13,640 crore in 1 day
Reliance Industries Ltd (RIL) on Friday announced two large investments by foreign investors totalling ₹13,640.4 crore into Jio Platforms Ltd. With this, the digital services unit of RIL has raised ₹92,202.15 crore from top global investors in less than six weeks. In the first transaction, Abu Dhabi-based Mubadala Investment Co. […]
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Reliance Industries’ rights issue opens today: All about the fund raiser
Reliance Industries Ltd’s Rs 53,125-crore shares rights issue, the first of its kind in almost 30 years, will open for subscription of shareholders on Wednesday and close on June 3. The Mukesh Ambani-led company had set a price of Rs 1,257 per share for the rights issue with a ratio of 1:15 […]
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Reliance Industries’ Rs 53,125-crore rights issue to open May 20, close June 3
Oil-to-telecom conglomerate Reliance Industries Ltd on Saturday said its mega Rs 53,125 crore rights issue will open for subscription of shareholders on May 20 and close on June 3. Billionaire Mukesh Ambani’s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights […]
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Reliance Industries jumps over 3% after company fixes rights issue date
Reliance Industries Ltd (RIL) shares jumped more than 3% in morning trade on Monday, looking to extend its winning streak into the fifth consecutive session, after billionaire Mukesh Ambani-led oil-to-telecom major fixed May 14 as the record date for the country’s biggest rights issue. The stock has gained 5.6% this […]