Aiming a new fashion brand launch in India, Reliance Industries Limited (RIL) and Indian Couturier Anamika Khanna to sign an agreement. The agreement will be between the affiliates of the two companies, to launch AK-Ok, a new brand in 60:40 joint venture. "The partnership with Anamika Khanna pivots around our recognition of homegrown talent's growing popularity and appeal in both India and globally," said Isha Ambani, Director of Reliance… read-more
As per Brokerage data, Mukesh Ambani's RIL is named as the wealthiest creator (Rs 9.7 lakh crore). The Annual Wealth Creation report revealed that, RIL topped the list third time in a row and amounted to 13.6% of the total wealth created in 2021. While RIL topped the list, Tata Consultancy became second with wealth creation of Rs 7.3 lakh crore, followed by HDFC with Rs 5.1 lakh crore.
Courtesy: The Times Of India
Reliance Retail Ventures Limited (RRVL) has officially extended its deadline by 6 months to figure out the nitty gritties of its ₹24,713 crore deal with Future Group. In August 2020, RRVL committed that it would buy out all retail and wholesale business, and the logistics and warehousing business in due time before September 2021. However, due to the future group's ongoing case with Amazon, the deadline has been pushed to March 2022.
The Supreme Court on February 22 issued notices to Future Retail and RIL against their Rs 24,713-crore deal, which was objected by Amazon. Giving notices, the apex court stayed a Delhi High Court order that gave a green signal to the deal. The Supreme Court has asked Future Retail and RIL to file their replies within three weeks. Earlier, Amazon objected to the deal on the ground that it holds 49% stake in Future Retail.
Courtesy: The Economic Times
Tata Consultancy Services (TCS) on January 25 outdid Reliance Industries Ltd (RIL) to become India's most valuable firm in terms of market capitalization. As per Bombay Stock Exchange (BSE) data, TCS' share price increased by almost 1.26%, thereby tapping an unparalleled Rs 3,345.25. At the day's highest level, TCS' market value attained a record high of Rs 12.55 lakh crore, while RIL descended by 4.84% to Rs 12 lakh crore.
The market regulator SEBI has fined Mukesh Ambani and Reliance Industries Ltd (RIL) with Rs 15 crore and Rs 25 crore respectively against the charges of insider trading. The SEBI said that while divesting 4.1% of its stake in Reliance Petroleum, the RIL first sold it in the futures market and later to the spot marker; hence, qualifying for insider trading. The SEBI also fined two Mumbai-based entities with Rs 30 crore.
Courtesy: The Indian Express
Reliance Industries Limited (RIL) on September 30, stated that the New York-based General Atlantic will invest Rs 36.75 billion in the company's retail wing. Reportedly, the investment covers 0.84% stakes in the company. RIL Chairman Mukesh Ambani stated that the company would stick to General Atlantic's “extensive expertise at the intersection of technology and consumer businesses.” RIL recently had successfully raised investments of up to … read-more
HCL Technologies Limited on September 17 entered the list of top ten publicly traded firms in India. HCL replaced ITC for the tenth position and its market value stood at Rs 2.21 trillion. Reportedly, HCL's shares have risen by 43.3% this year. Currently, Reliance Industries tops the list of firms' market capitalisation with Rs 15.71 trillion, followed by Tata Consultancy Services (Rs 9.31 trillion) and HDFC Bank (Rs 5.95 trillion).
Courtesy: Live Mint
A total loss of Rs 1,11,799.05 crore was faced by eight leading companies in the first week of September. ICICI Banks and Reliance Industries Limited alone faced a combined loss of Rs 49,693.28 crore. In addition to them, HDFC, Kotak Mahindra Bank, ITC, Infosys, Hindustan Unilever also faced losses in their market value. On the contrary, TCS and HDFC banks faced a combined gain of Rs 22,398.11 crore in their values.
Courtesy: Deccan Herald
With purchasing majority stakes in Netmeds, Mukesh Ambani's Reliance Industry is set to compete against e-commerce giant Amazon. Billionaire Mukesh Ambani is looking to acquire several local online retailers, including Urban Ladder, Zivame and Milkbasket, with an aim to widen the footprint of Reliance Retail as he looks to challenge other e-commerce behemoths. Recently, the billionaire has raised more than USD 20 billion by selling stakes in… read-more
Courtesy: India Today