MUMBAI: Reliance Industries, India’s largest company in terms of market value, has appointed chairman and managing director Mukesh Ambani’s three children — Isha, Akash and Anant — to the board, an indication that they will eventually helm the oil-to-telecom conglomerate.Ambani will be chairman for five more years even as his wife, Nita, has stepped down … Read more
NEW DELHI: The country’s largest telecom player Reliance Jio has received a $2.2 billion fund support from the Swedish export credit agency to finance equipment for the 5G rollout, according to Reliance Industries’ annual report.The company has largely procured telecom gears from Swedish firm Ericsson and Finnish company Nokia to deploy its 5G network.“RJIL tied … Read more
MUMBAI: Reliance Industries’s revenue has crossed $100 billion in fiscal 2022, becoming the first Indian company to reach the milestone. The Tata Group, a collection of over 30 companies across 10 verticals, had a revenue of $103 billion in fiscal 2021. The group’s fiscal 2022 numbers are yet to be declared. On Friday, Reliance said … Read more
NEW DELHI: For all the noise from the West over India’s oil imports from Russia, it has now emerged that not just European countries but even the US shipped more fossil fuels than India since Moscow attacked Ukraine. A report by think-tank Centre for Research on Energy and Clean Air (CREA) showed an uptick in … Read more
MUMBAI: Reliance Industries said on Saturday its deal with Future Group “cannot be implemented” after secured creditors in the latter rejected it, the company said in an exchange filing. “The shareholders and unsecured creditors of FRL (Future Retail) have voted in favour of the scheme. But the secured creditors of FRL have voted against the … Read more
NEW DELHI: Bankers have rejected Big Bazaar parent Future’s Group’s proposal to sell its retail and logistics assets to Reliance Retail, signalling that the Rs 24,700-crore deal between Kishore Biyani and Mukesh Ambani may have fallen through. To go through, the proposed deal required 75% of Future’s flagship company Future Retail’s (FRL) secured lenders to … Read more