LG Electronics India will donate products like water purifiers, air conditioners, refrigerators and TVs to the hospitals. Samsung India, on the other hand, will provide preventive kits to hospitals, which includes a surgeon gown, face mask, gloves, preventive eye wear, hood cap and shoe cover.
Last week, RIL had announced a detailed plan to support India's fight against Covid-19, which includes medical help through its hospital, healthcare facilities using the Jio platform, and providing free fuel for all emergency service vehicles, and a donation of Rs 5 crore to Maharashtra's Chief Minister's Relief fund.
Ambani's special tribute to health service providers caught Pai's attention.
Shares of RIL on Friday ended at Rs 1,065.5, 0.86 per cent lower, on the BSE.
Mukesh Ambani, who personally held 72.31 lakh shares or 0.11 per cent of RIL, raised his holding to 75 lakh shares or 0.12 per cent.
Rajan Mathews, director general of the Cellular Operators Association of India (COAI), which represents Jio, Airtel and Vodafone Idea, said the telcos “were likely to consider the request” as they have always put the interest of their customers first.
In letters to RIL chairman Mukesh Ambani, Airtel chairman Sunil Mittal, VIL chairman Kumar Mangalam Birla and BSNL chairman P K Purwar, Gandhi has called on telcos to “make incoming and outgoing call facilities” on their networks “available in the relevant areas without charge for the next one month” for home-bound migrant workers who have run out of cash on their phone recharges.
Ratan Tata, chairman, Tata Trusts, said the Trusts and the Tata group together would contribute Rs 1,500 cr to fight the pandemic. Reliance Industries chairman Mukesh Ambani will contribute Rs 5 cr to the chief minister’s relief fund. Gautam Adani, chairman of Adani Group, said that Adani Foundation will contribute Rs 100 cr to the PM-CARES Fund
Facebook Inc is in talks to buy a multi billion dollar stake in Reliance Industries Ltd's telecom unit, the Financial Times reported on Tuesday, citing two people with knowledge of the matter.
Reliance, controlled by billionaire Mukesh Ambani, has offered various grades of Middle East crude for sale in Asia's spot market, including grades such as Abu Dhabi's Murban crude and Qatar's al-Shaheen crude, four sources said.
The nearly $19 billion fall in net worth for Mukesh Ambani was the fifth worst globally.
Jack Ma is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.
“The discussion was about how Coca-Cola could come on board with Reliance for various sponsorships and furthering their retail association,” one of the officials said. “Typically, such associations drive higher footfalls for the retailer and in-store visibility for the brand.”
The scrip has fallen 28% in the current calendar year, making a $15.2 billion dent for Ambani.
A deal was to have been announced by March end, the FT said.
The FT report said Google had also been talking to Jio separately, citing one of the people above. Microsoft had said last year that it would provide cloud-computing services to businesses along with Jio. India is the biggest market for Facebook with 328 million monthly users and the company’s WhatsApp messaging app has 400 million users in the country, also the most in the world.
PM Modi also urged corporate houses to contribute generously to the government’s coffers. He assured instant approvals for any regulatory permissions required for them to work towards fighting the disease, top officials said.
Jio had earlier last year signed a long-term alliance with Microsoft for the launch of new cloud data centres. Under the deal, Microsoft will bring in the Azure Cloud on the Jio Network targeting the enterprise and small business users who want to make a shift to a cloud technology infrastructure.
Mukesh Ambani said the country has reasons to be more optimistic for the next decade.
Mukesh Ambani, who personally held 72.31 lakh shares or 0.11 per cent of RIL, raised his holding to 75 lakh or 0.12 per cent.
India is witnessing the growth of online fantasy sports leagues, quizzing and card games.
While talking to Microsoft's Satya Nadella, Ambani said that gaming could be the next big industry in India.
The restructuring will create a mega diversified media entity with interests in news, entertainment, internet, ISP and cable businesses that can compete with Zee Group, Bennett Coleman and Co Ltd, the publishers of The Economic Times, Sun Tv Networks, Sony among others. The boards of these companies met on Monday to clear the proposal.
This stock rout has wiped off Rs 11.52 lakh crore of equity investors’ wealth on Dalal Street.
Washington in the past has put pressure on New Delhi to keep China's Huawei out of the India's 5G deployments. The Indian government, however, has allowed Huawei and ZTE, another Chinese company, to participate in 5G trials. New Delhi will take a separate call on allowing Huawei to participate in the commercial deployments of the next generation technoligy in India.
In total, India got 34 new billionaires to take the count to 138 on the list.
According to the Hurun report, only 3 Indians are ahead of Kotak in the top 100 list.
"Great job you have done. Thank you," Trump told Ambani who briefed him about the RIL investment in the US and India business at the CEO roundtable event organised at the US Embassy here. "We are investors in the United States in the energy sector and have invested $7 billion towards that," Ambani told Trump who immediately replied: "$7 billion, yeah, big one."
Saying that India has transformed tremendously over the past two decades -- from a $300 billion economy in early 1990s to becoming a $3 trillion economy in 2020 -- Ambani stressed that India is on track to become one of the top three economies of the world.
Reliance Industries Chairman Mukesh Ambani on Monday said India is at the cusp of becoming a "premier digital society", and will be among the top three economies of the world.
The country’s richest family becoming the subject of a tax probe is unprecedented and has surprised many.
The Finance Ministry is working with officials to finalise the stimulus plan.
RIL said it has deployed the combined strengths of Reliance Foundation, Reliance Retail, Jio, Reliance Life Sciences, Reliance Industries, and all the 6,00,000 people that work for the group on this action plan against COVID-19.
The selloff has hurt everyone from smallest investor to the biggest billionaire equally hard.
ICICI Lombard has rolled out a COVID-19 protection cover under the group insurance category.
Till now, Jio has been depending upon 4G voice technology supplied by Oracle and Nokia. According to a company exec, Jio has already replaced Orclae and Nokia techs with its own in an effort to cut reliance on foreign third-party suppliers.
Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (Covid-19) outbreak on his employees and business, officials said. The oil-to-telecom conglomerate initiated a work from home protocol for its employees across the country and overseas in response to the evolving Covid-19 situation. This protocol will be effective until March 31.
Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% .
For the week, Sensex and Nifty dropped 12.28 per cent and 12.02 per cent, respectively.
Ambani is the owner of Mumbai Indians cricket team franchise.
The three networks have varied plans across price ranges, we've put together the best plans under Rs 700.
Jio has developed its own 5G and other technologies, to cut costs and reduce dependence on foreign vendors.
The surge in Ambani’s fortunes this year was fueled by a 40% jump in the shares of his conglomerate RIL.
Here is a lowdown of the movers and shakers of Tuesday’s session on Dalal Street.
The Mukesh Ambani-owned company has replaced Nokia’s and Oracle’s 4G voice technology with its own, a senior company executive said. The move is perhaps a global first, analysts said, where a mobile phone company has developed in-house technology to replace third-party equipment vendors.
SBI Cards IPO could have boundless prospects, or become a victim of arrested development.
All the telecom operators these days offer a decent 2 GB per day data on affordable plans. Here is a comparision of such prepaid plans being offered by Reliance Jio, Vodafone Idea and Airtel.
Aamir Khan and Siddharth Roy Kapur are also among the 10 Indians on the list.
Talks are at a preliminary stage and may not result in a transaction, according to people familiar with the matter.
Mukesh Ambani-led Jio added a modest 82,308 mobile users, taking its subscriber base past 370 million in December, way below the 9.1 million and 5.6 million customer-adds reported by the company in October and November respectively last year.
At a special press briefing with Indian industrialists at the US embassy in New Delhi, Trump said, "During our visit we discussed the importance of a secure 5G wireless network & the need for this emerging technology to be a tool for freedom, progress, prosperity, not to do anything with where it could be even conceived as a conduit for suppression and censorship."
A recession could make clients of IT services companies cut their technology spends.
Dow tanked 1,000 points as spike in coronavirus cases beyond China spooked investors.
Among the chief ministers expected to be present are three from BJP-ruled states — Manohar Lal Khattar (Haryana), BS Yediyurappa (Karnataka) and Sarbananda Sonowal (Assam). Telangana CM K Chandrashekar Rao is also expected to be present. The invite to the Telangana CM is significant as there is a growing presence of Telugu-speaking Indians in the US, including students and professionals.
"We've been working with Reliance across the entire stack - everything from what they are going to be doing with Azure in their own data centres and how they will extend it... It's sort of a great example of a business leader and a company which is in very diverse sectors to take a platform approach, to use technology to create more technology," said India-born Nadella at the event in Mumbai.
Piramal was seen engaged in a riveting fireside chat with Stephen Schwarzman.
Instead, he is in a line of business that’s as traditional as it gets – groceries, largely.
Airtel can easily raise Rs 40,000 crore by selling assets, while Voda Idea has no dearth of funds, he said.
Billionaire Mukesh Ambani on Tuesday said the slowdown in the Indian economy is temporary and the recent measures taken by the government will help reverse the trend in the coming quarters. Speaking at Saudi Arabia's annual investment forum, also known as 'Davos in the desert', he said the reforms undertaken by Prime Minister Narendra Modi's government since August will bear fruits in the next few quarters.Slowdown in India temporary, reforms undertaken to reverse trend: Mukesh Ambani
"The current slowdown is temporary," Ambani said at the opening plenary of the third edition of Future Investment Initiative (FII) in Riyadh on Tuesday.
Mukesh Ambani said the reforms undertaken by Modi govt since August would bear fruits in the next few quarters.
According to Forbes' 'The Real-Time Billionaires List', Ambani's 'real-time net worth' stood at $60.8 billion on Thursday.
Speaking at a high-profile CEO round-table which included captains of the Indian industry such as Reliance Industries Chairman Mukesh Ambani, Mahindra Group Chairman Anand Mahindra, Tata Sons Chairman N Chandrasekaran and Aditya Birla Group Chairman Kumar Mangalam Birla, Trump reassured that regulations "will only get better" for investment in the US.
The India-born top executive also highlighted that developers should work with diverse teams, so that "unconscious biases" do not creep into the models used for developing AI. According to Microsoft, there are about 4.2 million developers in India and the country is poised to become the numero uno destination for such talent in the coming years.
A recluse to the core, Radhakishan Damani does not give media interviews or attend market-related events.
Gautam Adani stormed into the top 5 with a total wealth of Rs 94,500 crore.
The Ahmedabad bench of the National Company Law Tribunal (NCLT) had last year approved the joint bid.
Aramco officials have been working at Reliance’s offices in Mumbai for due diligence this month.
On a year-to-date basis, Mukesh Ambani's wealth increased by $13.70 billion to $58 billion.
Azim Premji, who created headlines by announcing a USD 21 billion commitment to charity, is second in the Edelgive Hurun India Philanthropy List 2019.
The parent company of DMart—Mumbai-based Avenue Supermarts Ltd—has taken about 50,000 sq ft of space in east Delhi’s Karkadrooma court area for its first outlet in the national capital, a person familiar with the development told ET. Another person said, “They are scouting for space for 4-5 stores in Delhi NCR.”
Niti Aayog said, “The proposed minimum floor price are likely to disincentivise competition on cost efficiency, price, and quality parameters, and deter new entries and innovation.” The Centre’s policy think-tank further suggested that setting a floor price now could discourage new entrants riding on disruptive technology and “deprive customers of benefits” of competition.
The Indian business leaders discussed sustainable market initiatives with the British royal.
The starry affair saw SRK and the Bachchans in attendance.
US President tells India Inc to invest billions and promises to cut more regulation. Some industry leaders in attendance told Trump their companies are investing in the US. Trump responded to every investment commitment with fulsome praise. He also pegged reduction in regulations to his re-election.
Reliance is keen to sign a binding agreement before the next annual shareholders meeting.
Avenue was unexpectedly moved into the Trade-to-Trade or ‘T’ Segment .
Behuria , who was the chairman of IOC between 2005-10, started his career with Burmah Shell in 1973, which was nationalized in 1976 and renamed as Bharat Petroleum Corporation, where he rose to the position of director (marketing) in November, 1998 and as Chairman & Managing Director, in July, 2002.
The moves come as India is battling $130 bn of bad debt that has sparked bankruptcies at some companies.
Reliance was clarifying on reports Wednesday that said Ambani’s stake in the company has increased to 48.87% due to a scheme of arrangement.
Kotak said RIL transferred the treasury shares held by its subsidiaries to Reliance Services and Holdings.
Reliance Services and Holdings on Tuesday said that it has acquired 2.71 per cent stake.
Reliance Industries Ltd (RIL) on Friday said it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse Rs 1.08 lakh crore equity into this new unit. The new structure is similar to those adopted by tech titans globally, and will offer a compelling investment proposition to strategic and financial investors, many of whom have evinced strong interest in partnership, the company said in a statement, adding that this will also create the largest digital services platform company in India.Mukesh Ambani wants to make Reliance Jio "virtually net debt free" by March 31, 2020
SC's judgement backing the govt’s definition of adjusted gross revenue (AGR) has further piled up the woes for India's other telecom players except Jio. Bharti Airtel and Vodafone Idea Ltd. have racked up a combined net debt of almost $28 billion.
The entire business started via social media posts and SHM began with mobile deliveries from the back of a Tata Nano.
The Ambanis and Bachchans were dressed in their festive best.
Such a step by Reliance, which operates the world's biggest refining complex, and Nayara - part owned by Russian oil major Rosneft - would severely curtail purchases by one of Venezuela's last big export destinations. India accounted for about a third of Venezuela's oil shipments in January.
Mukesh Ambani's much anticipated fiber-to-the-home (FTTH) service is finally launched. JioFiber plan rentals will start at Rs 699 and will go up to Rs 8,499. The lowest tariff will start with 100 Mbps speed. Most tariff plans come with access to all the services.Launched on August 12, Jio Fiber will see its commercial rollout today. The service, which has the potential to alter the broadband landscape in IndiaReliance JioFibre: Mukesh Ambani unveils broadest range of plans
Only last year Jio had clashed with the other two over the issue. But now they have buried the hatchet.
38-year-old Byju Raveendran makes his debut.
The probable list of attendees includes Reliance Industries chairman Mukesh Ambani, Bharti Airtel chairman Sunil Mittal, Tata Sons chairman N Chandrasekaran, Mahindra Group chairman Anand Mahindra, Larsen & Toubro chairman AM Naik and Biocon CMD Kiran Mazumdar-Shaw, ET has learnt from diplomatic sources. The CEOs’ roundtable will also be attended by bureaucrats.
Ambani is enlisting his children to help drive the modernization of his empire.
Wealth of India’s richest person has been swelling like never before. Reliance Industries' promoter and biggest shareholder Mukesh Ambani got richer by close to Rs 29,000 crore since the company’s annual general meeting on Monday.Mukesh Ambani just got richer by over $4 billion!
Since the August 12 AGM, Ambani’s wealth has gone up by $4 billion (Rs 28,684 crore).
At the AGM, one shareholder told another: 'stick to asking relevant questions'.
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