Tata Power Renewable and ONGC forge partnership on LinkedIn: Memorandum of Understanding signed to explore battery energy storage opportunities
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Tata Power Renewable Energy (TPREL) and Oil and Natural Gas Corporation (ONGC) have signed a Memorandum of Understanding (MoU) to explore the potential of battery energy storage solutions for oil and gas exploration and production (E&P) operations. The MoU was signed on [Date] to identify opportunities for collaboration and joint investment in battery energy storage technologies that can enhance the efficiency and reduce the carbon footprint of ONGC’s E&P operations.
The MoU aims to leverage TPREL’s expertise in renewable energy and battery storage to support ONGC’s diversification efforts into low-carbon energy solutions. ONGC, India’s largest oil and gas company, is keen to reduce its reliance on fossil fuels and adopt cleaner energy sources to meet the country’s growing energy demands while minimizing its carbon footprint. TPREL, a leading player in the renewable energy space, has a strong presence in the Indian energy sector and a track record of deploying innovative energy storage solutions.
The MoU will facilitate the collaboration on pilot projects, feasibility studies, and other initiatives to assess the potential of battery energy storage solutions for oil and gas operations. This partnership is expected to create new opportunities for TPREL to support ONGC’s E&P operations and contribute to the country’s energy transition journey. The collaboration will also help ONGC to reduce its carbon footprint, enhance operational efficiency, and improve overall performance.
The MoU is part of the efforts to drive mutual growth, innovation, and sustainability in the Indian energy sector. It highlights the need for collaboration between industries to address the complex energy landscape and achieve a low-carbon future. With this partnership, TPREL and ONGC can leverage each other’s strengths to create innovative solutions that benefit both their businesses and the country’s energy landscape.
Overall, the MoU between TPREL and ONGC marks an important step towards a more sustainable and energy-efficient future for the Indian energy sector, and sets an example for other industries to follow.
Jupiter Wagons lands a deal worth ₹600 crore with Ambuja Cements and ACC, securing a significant order.
Jupiter Wagons, a company that provides wagon manufacturing and design services, has secured a significant order worth ₹600 crore (approximately $80 million USD) from two leading cement companies, Ambuja Cements and ACC. This order is a major milestone for Jupiter Wagons, highlighting its growing reputation as a reliable and efficient wagon manufacturer.
According to the report, the order is for the design and manufacturing of a large number of wagons for transportation of cement and other bulk materials. This order demonstrates the trust and confidence that Ambuja Cements and ACC have placed in Jupiter Wagons, underscoring its commitment to quality and reliability.
The order is considered significant not only for Jupiter Wagons but also for the Indian wagon manufacturing industry as a whole. It showcases the company’s capabilities and expertise in designing and manufacturing high-quality wagons that meet the demands of leading cement companies.
Additionally, this order is also seen as a vote of confidence in the Indian wagon manufacturing industry, which has been growing steadily in recent years. The demand for wagons is driven by increasing investments in infrastructure development, particularly in the construction and cement sectors.
The order is also a testament to Jupiter Wagons’ ability to adapt to changing market dynamics and customer needs. The company has been investing heavily in research and development, modernizing its manufacturing facilities, and expanding its product portfolio to stay competitive in the market.
In recent times, Indian companies have been looking to reduce their reliance on imports and instead, opt for domestic manufacturers like Jupiter Wagons. The preference for domestic manufacturers is driven by factors such as cost savings, reduced import costs, and faster delivery times.
Overall, Jupiter Wagons’ success in securing this significant order from Ambuja Cements and ACC is a testament to its growth and competitiveness in the wagon manufacturing industry. The company’s commitment to quality, innovation, and customer satisfaction has earned it a reputation as a reliable partner for bulk materials transportation.
Whispers of joy for the billionaire Mukesh Ambani: Reliance takes the top spot on the list of companies with the highest…
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According to the Economic Survey, Indian companies have seen a significant increase in their cash reserves over the past two years, with a 35% surge. As of September 2024, the cash and cash equivalents (CCE) balance of Nifty 500 companies stood at Rs 14.3 lakh crore, up from Rs 10.6 lakh crore in September 2022. This increase is attributed to companies making substantial profits but being reluctant to increase employee salaries.
Reliance Industries, led by Mukesh Ambani, tops the list of companies with the highest cash balance, holding 15% of the total cash reserves of Nifty 500 companies. As of September 2024, Reliance had cash and cash equivalents worth ₹2.15 lakh crore. Other companies in the top 10 include Larsen & Toubro, Tata Motors, TCS, Wipro, ONGC, InterGlobe Aviation, Mahindra & Mahindra, Infosys, and Hindustan Aeronautics.
Experts suggest that Indian companies benefited from cost optimization after the COVID-19 pandemic, which led to an increase in their cash reserves. Additionally, these companies did not invest heavily in capacity expansion, allowing them to accumulate more cash. Typically, these funds are utilized for working capital, capital expenditure (CapEx), and debt repayment.
Interestingly, none of the companies from India’s third-largest industrial conglomerate, the Adani Group, made it to the list. However, companies like Indigo’s parent company InterGlobe Aviation, Reliance, and Hindustan Aeronautics have seen the highest surge in cash reserves over the past two years. The report highlights the significant growth in cash reserves of Indian companies, which could have implications for the economy and employee salaries.
Three major companies, including Reliance, Ola, and Rajesh Exports, fail to meet battery storage targets, resulting in a significant reduction in budget allocation for the scheme.
The Indian government’s National Programme on Advanced Chemistry Cell (ACC) Battery Storage scheme, launched in 2021 with a massive ₹18,100 crore outlay, has seen a significant reduction in its budget allocation for the current fiscal year. This drastic cut is attributed to the fact that beneficiaries under the Production Linked Incentive (PLI) scheme, namely Reliance Industries, Ola Cell Technologies, and Rajesh Exports, failed to meet conditions around investment and domestic value addition. The new allocation stands at ₹15.42 crore, a substantial reduction from the initial ₹250 crore budgeted.
According to officials, the beneficiaries’ inability to meet the December 2024 milestone has led to this reduction. The officials also pointed out that Indian technology for battery production is yet to be developed, making it challenging to disburse incentives. Ola, which had won a substantial 20 GWh capacity, is still waiting to start production and has not claimed any incentives so far. Rajesh Exports, on the other hand, had sought relaxations from the Ministry of Heavy Industries. Despite an initial allocation of 20 GWh to another company, found to be impersonating Hyundai Motor Company, this capacity was later re-bid, with Reliance New Energy Ltd (RNEL) emerging as the winner.
The cut in budget allocation raises concerns about the viability and effectiveness of the scheme, which aimed to promote domestic battery production and reduce reliance on imports. The development may signal a setback for the government’s flagship scheme, which has struggled to deliver on its promises despite massive funding.
Additional international lenders join RIL’s $3 billion loan syndication facility
Reliance Industries, India’s largest company by revenue and market capitalization, is expected to attract at least 10 more banks from around the world to join the syndication of its $3 billion dual currency loan. The initial 11 banks that committed to the loan in December included major international lenders such as Bank of America, DBS Bank, and HSBC. The new banks that are expected to join the syndication include Australian and New Zealand Banking Group, Bank of Taiwan, Mega International Commercial Bank, and CTBC Bank from Taiwan, Barclays, Deutsche Bank, Intesa Sanpaolo from Italy, KFW Ipex Bank from Germany, and Korea Development Bank from the Asian Fareast, and JP Morgan from the US.
The syndication process is expected to begin next week, with road shows to be held to attract more lenders. The lead banks have already identified the participating banks and are working to ensure a successful syndication. The new lenders will make commitments based on their appetite and risk assessment, with the lead lenders willing to give up some of their exposure to make room for the new participants.
The loan was priced at 120 basis points over the three-month secured overnight financing rate (SOFR) and includes a $450 million component denominated in Japanese yen. The funds are expected to be used to repay debts coming due later this year. The syndication is seen as a testament to Reliance Industries’ strong credit profile and its ability to attract international lenders. The company’s largest corporate borrower in India, it has a diverse portfolio of businesses and a strong track record of financial performance.
Pursuing New Frontiers: Pidilite Industries Enters the Coatings Market
K Ashok Narayan, chief of sales and marketing for industrial adhesives at Pidilite Industries, shared his insights on the company’s growth strategy, new product launches, and evolving trends in packaging at PrintPack 2025. Pidilite is leveraging its expertise in adhesives and polymer technology to expand into the coatings market, with a range of products designed for paper-based applications.
The company’s new coatings products include water repellent, oil and grease resistance, and cold seal coatings, which are perfect for packaging applications such as envelopes and chocolate wrappers. Narayan highlighted the company’s focus on eco-friendly solutions, developing products for sustainable applications and ensuring their packaging is also sustainable.
Narayan also emphasized Pidilite’s plans to expand geographically and in terms of product offerings, with a conscious effort to reduce reliance on the Indian market by exporting 20-25% of its products internationally. Additionally, he mentioned the impact of the recently announced Union Budget’s tax incentives on the packaging industry, which could drive consumption.
Furthermore, Narayan discussed the trend towards short-run printing, which is gaining popularity across sectors, particularly in educational publishing. Pidilite’s approach to product development and sustainability, coupled with its commitment to environmental responsibility, positions the company for continued growth.
In summary, Pidilite Industries is poised for continued growth by venturing into new markets, investing in eco-friendly solutions, expanding geographically, and adapting to emerging trends such as short-run printing. By doing so, the company demonstrates its commitment to innovation, sustainability, and reducing its environmental impact.
Reliance Develops ‘Teerth Yatri Seva’ Initiative at Maha Kumbh Mela in Lucknow
Reliance Industries Limited has launched “Teerth Yatri Seva”, a comprehensive initiative to support pilgrims during the Maha Kumbh 2025 at the confluence of the Ganges, Yamuna, and Saraswati rivers. This initiative aims to provide essential services to help devotees have a safe, comfortable, and spiritually enriching experience. The services offered include daily hot meals and water, 24-hour medical care with separate wards for men and women, as well as free sanitary napkins for women pilgrims. Additionally, the initiative provides electric transport, including golf carts and e-vehicles, to ensure convenient travel.
Teerth Yatri Seva also focuses on maintaining safety and hygiene standards, with life jackets and safety measures for boatmen and the Jal Police. The initiative also includes the provision of comfortable rest zones, clear directional signage, and enhanced connectivity through Jio’s 4G and 5G infrastructure. Furthermore, the initiative supports law enforcement by providing water stations, barricades, and watchtowers.
Overall, Reliance’s Teerth Yatri Seva aims to create a seamless and hassle-free experience for all devotees, allowing them to focus on their spiritual journey without worrying about the logistics. With its range of services, the initiative seeks to cater to the diverse needs of pilgrims, providing a memorable and enriching experience at the Maha Kumbh 2025.
Reliance Brings ‘We Care’ Philosophy to Life at Maha Kumbh, Providing Comprehensive Support for Millions of Pilgrims Through Meals, Transportation, and Connectivity.
Reliance Industries has launched “Teerth Yatri Seva”, a comprehensive initiative to ease the journey of pilgrims attending the Maha Kumbh 2025. Guided by its “We Care” philosophy, Reliance is providing a range of services to ensure the safety, comfort, and spiritual enrichment of pilgrims. These services include:
1. Nourishing meals: Hot and nutritious meals are being served daily to thousands of pilgrims through the “Anna Seva” program.
2. Comprehensive healthcare: 24/7 medical care, including men’s and women’s wards, OPDs, and dental services, is being provided to ensure the health and safety of pilgrims.
3. Easing the journey: Electric vehicles and golf carts are being used to facilitate transportation within the Kumbh Mela grounds, and dedicated transportation is being arranged from Prayagraj to the Sangam.
4. Safety on the sacred waters: Life jackets and reinforced safety measures are being provided for boats plying on the holy rivers.
5. Comfortable rest zones: Campa Ashrams, designated rest zones, are being set up to provide a comfortable and relaxing space for pilgrims.
6. Clear navigation: Directional boards with clear and easy-to-read signages are being installed to help pilgrims navigate the vast expanse of the venue.
7. Enhanced connectivity: Jio is providing improved connectivity through the installation of new 4G and 5G BTS, upgrading existing infrastructure, and deploying transportable towers and small-cell solutions.
8. Supporting the guardians: Water is being provided at police booths, and support is being given to the police forces to ensure the safety and security of all visitors.
Reliance is collaborating with renowned spiritual organizations to maximize the impact of its services and reach a wider segment of pilgrims. With “Teerth Yatri Seva”, Reliance aims to ensure that the pilgrims’ journey is safe, comfortable, and spiritually enriching.
Mukesh Ambani praises PM Modi’s vision for Atmanirbhar Bharat, assuring that India’s energy growth momentum will remain unstoppable
Reliance Industries Chairman Mukesh Ambani addressed the 12th convocation of Pandit Deendayal Energy University (PDEU) in Gandhinagar, Gujarat, India, exuding confidence in India’s future growth and emphasizing the importance of innovation and sustainability. Ambani predicted that India will emerge as the third-largest economy in the world within a couple of years, citing Prime Minister Narendra Modi’s vision for self-reliance in the energy sector.
Ambani encouraged students to aim high, not being satisfied with their achievements, and to focus on emerging areas such as bio-energy and artificial intelligence. He emphasized the need for climate action, urging students to work towards reversing ecological degradation and making the planet more livable for future generations. Ambani also praised PM Modi’s vision for the energy sector, dating back to his time as Gujarat Chief Minister, and the establishment of PDEU.
Ambani highlighted the university’s partnership with the Gujarat government, expressing gratitude for their support. He also shared five guiding principles that have helped him in his journey: discovering one’s true passion, committing to lifelong learning, inculcating the virtue of sharing, investing in meaningful relationships, and cherishing and nurturing family bonds.
In his address, Ambani also touched upon the intersection of green energy, green materials, and artificial intelligence, stating that PDEU should gain a leading position in this synergy. He advised students to use AI as a tool for learning, but not to give up their own critical thinking.
Ambani concluded by reminding students that life is a bigger university with no fixed curriculum, no faculty, and no campus, urging them to excel and chart their own paths forward.
A consortium of companies, not Mukesh Ambani’s Reliance or Adani Group, has been selected to build India’s most expensive oil refinery, a project valued at Rs…
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State-owned Bharat Petroleum Corporation Ltd (BPCL) is set to build India’s costliest oil refinery-cum-petrochemical complex in Andhra Pradesh at an estimated cost of Rs 95,000 crore. The proposed refinery will have a capacity of 9 million tonnes per annum (crude oil processing capacity) and produce 3 to 3.5 million tonnes of petrol and diesel and 3.8 to 4 million tonnes of feedstock of petrochemicals annually. The refinery will be built on 6,000 acres of land, which has already been identified, and is expected to be commissioned in 48 months from the final investment decision.
The project is a significant undertaking for BPCL, which is India’s third-largest oil refiner. The company’s Director (Finance) Vetsa Ramakrishna Gupta stated that the initial indication of capex requirement is around Rs 95,000 crore, but the final number will be decided by December once the detailed project report and feedstock studies are completed. BPCL is also exploring the possibility of inducting a joint venture partner.
The Andhra Pradesh government has indicated a good amount of capital subsidy incentives for the project, but the exact amount has not been disclosed. The refinery is expected to create jobs and generate revenue for the state. This project is the costliest oil refinery project in India, surpassing Hindustan Petroleum Corporation Ltd’s (HPCL) proposed refinery in Rajasthan, which is expected to cost around Rs 71,814 crore.
India is the world’s third-largest oil importing nation, with a refining capacity of 256.8 million tonnes. The country has a significant demand for oil, with domestic consumption reaching 234.3 million tonnes in the 2023-24 fiscal year. The remaining products are exported. The BPCL refinery project is expected to help meet India’s growing energy demands and reduce dependence on imports.
Get ready for a digital splurge! Reliance Digital’s ‘Digital India Sale’ is here, offering whopping discounts and exclusive deals on a wide range of electronics and home appliances, making it an opportunity you won’t want to miss!
Reliance Digital, a leading retailer of electronics and appliances, is hosting its "Digital India Sale" from March 20 to 28, offering exciting deals on a wide range of products. The sale promises to be a one-stop destination for customers to buy the latest electronics and appliances at unbeatable prices, with significant discounts and offers.
Here are the key highlights of the sale:
Discounts and Offers:
- Up to 50% off on top brands like Samsung, LG, and Sony
- Flat 20-30% off on Reliance Retail’s own brand, Jio
- Buying one, get one free (BOGO) on selected products
- Additional 10% cashback on credit card transactions
- Exclusive offers on emerging technologies like artificial intelligence, virtual reality, and robotic vacuum cleaners
Home and Kitchen Appliances:
- Get up to 40% off on air conditioners, refrigerators, and washing machines from top brands
- Upto 30% off on smart TVs, soundbars, and home theaters
- Discounts on popular brands like Whirlpool, LG, and Godrej
Gaming and Entertainment:
- Get up to 30% off on gaming laptops, consoles, and accessories from top brands like Dell, Lenovo, and Razer
- Discounts on popular games and game consoles like PlayStation, Xbox, and Nintendo Switch
- Deals on high-end smartphones and power banks
Special Offers:
- Free installation on select products like air conditioners, washing machines, and water purifiers
- Free doorstep delivery on online purchases
- Exchange offers on old appliances for new ones
- Extended warranty and maintenance offers on select products
Other Key Features:
- No-cost EMI options for select products
- Easy returns and refunds
- In-store pickup and installation available for select products
How to Shop:
- Visit the Reliance Digital store or website (www.reliancedigitals.com)
- Use the Reliance Digital app to browse and buy products on-the-go
- Follow Reliance Digital on social media for updates and promo codes
The Reliance Digital "Digital India Sale" is a great opportunity for customers to stay ahead of the curve and upgrade their home, office, and personal electronics with the latest products at unbeatable prices. Don’t miss out on the amazing deals and offers!
Reliance Consumer Products acquires SIL’s brands to bolster its offerings, aiming to rival Hindustan Unilever, Cremica, and Tata Consumer Products.
Reliance Consumer Products (RCPL) is set to acquire the packaged food brand SIL, which offers a range of products such as cooking pastes, jams, mayonnaise, baked beans, and Chinese sauces. The acquisition formalities have been completed, and RCPL plans to scale up the distribution of SIL’s products nationally, which will enable them to compete directly with major players in the fast-moving consumer goods (FMCG) sector, including Hindustan Unilever, Tata Consumer, and Cremica. SIL Food India, the current owner of the brand, operates mainly in Western and Southern markets.
The transaction size is not disclosed, but RCPL will acquire SIL’s brands only and not the company or its manufacturing facilities. The acquisition is part of RCPL’s strategy to expand its portfolio and compete effectively in the FMCG sector. SIL has manufacturing facilities in Pune and Bengaluru, according to its website.
RCPL is a wholly-owned subsidiary of Reliance Retail Ventures (RRVL) and has made several acquisitions in the past couple of years, including Ravalgaon and Toffeeman confectionery, Campa soft drinks, Raskik beverages, Sosyo carbonated drinks, and Lotus chocolates. Last year, RCPL reported a top line of ₹8,000 crore for the first nine months of FY25, and its Campa and Independence brands are expected to reach ₹1,000 crore by the end of FY25.
The packaged foods space has seen several deals recently, including Agro Tech Foods acquiring a 100% stake in Del Monte Foods for ₹1,300 crore, and Compass India Food Services, a subsidiary of Compass Group, buying a majority stake in Delhi-based food catering company ICS Foods.
Indian consumer market gets a boost as Reliance Retail announces the opening of its 50th Gap store nationwide.
Reliance Retail, in partnership with Gap, has announced the opening of its 50th Gap store in India at the Phoenix Palladium Mall in Mumbai. This milestone marks the success of their collaboration, which began in 2022, where Reliance Retail serves as the official retailer for Gap across all channels in India.
The new store offers customers an elevated retail experience, spanning 2,948 square feet, and showcases denim, logo products, and khakis for men, women, and children. The store is designed to cater to the diverse needs of Indian families and provides a tech-enabled shopping experience, including smart trial rooms, endless aisle services, and an omni-enabled shopping journey, all at a better price value.
Akhilesh Prasad, President and CEO of Fashion and Lifestyle at Reliance Retail, expressed his excitement about the new store, stating that it represents a fresh and vibrant evolution of Gap’s retail experience in India. He emphasized the brand’s commitment to delivering iconic American style to customers across the region.
Facundo Ginobili, SVP of Franchise and Wholesale at Gap Inc., also announced the achievement, attributing it to the brand’s enthusiasm in the Indian market and their commitment to delivering iconic American style to customers.
Reliance Retail Limited is a subsidiary of Reliance Retail Ventures Limited (RRVL), which operates an integrated omnichannel network of 19,102 stores and digital platforms across various categories. With over 338 million registered customers, RRVL reported a consolidated turnover of ₹306,786 crore and a net profit of ₹11,101 crore for the fiscal year ending March 31, 2024.
Mukesh Ambani unveils five transformative initiatives, poised to revolutionize the landscape of…, as Reliance prepares to launch…
Mukesh Ambani, Asia’s richest man, has unveiled five ambitious plans to transform his hometown of Jamnagar, India, into a hub of innovation and industry. The billionaire, who is also the Chairman of Reliance Industries, marked the 25th anniversary of Jamnagar Refinery with a grand event, where he outlined his vision for the city’s future.
Ambani plans to make Jamnagar Refinery the world’s best oil refining facility, setting unparalleled standards. He also announced the opening of the world’s best gigafactory, which will pioneer advancements in clean energy solutions and create state-of-the-art infrastructure for green energy technologies.
Furthermore, Ambani revealed plans to make Jamnagar India’s largest solar power hub, in addition to setting up a state-of-the-art AI lab in the city. The AI lab will be equipped with advanced AI infrastructure, cementing Jamnagar’s position as a hub for artificial intelligence innovation.
Additionally, Ambani emphasized the importance of environmental conservation, stating that Jamnagar’s Vantara will continue to be a hub for Reliance’s dedicated nature and conservation initiatives aimed at biodiversity, animal protection, and conservation. This reflects the company’s commitment to protecting the environment.
Ambani’s net worth is $98 billion, making him the richest person in India and Asia, and the 18th wealthiest person in the world, according to Forbes. His ambitious plans for Jamnagar are expected to bring significant economic and technological growth to the region, solidifying the city’s position as a major hub for innovation and industry in the coming years.
Axis Bank, Infosys, Wipro, Tech Mahindra, and others among the top losers on Monday, as Indian markets plummet, while Jio Financial prepares to release its Q3 earnings later today.
The article provides a summary of recent research reports from various financial institutions on several Indian companies. The reports are from Citi, Nuvama, Jefferies, CLSA, DAM, IIFL, MS, Macquarie, Nomura, Bernstein, BofA, Investec, HSBC, Elara, and UBS.
The reports provide recommendations and target prices for companies such as:
* Aadhar Housing: Citi initiates a buy recommendation with a target price of Rs 565/sh.
* Reliance Industries: Multiple firms maintain buy or outperform recommendations with target prices ranging from Rs 1550/sh to Rs 1729/sh.
* Infosys: Firms such as Nomura, Nuvama, and Bernstein raise their target prices, with Bernstein maintaining an outperform recommendation.
* Axis Bank: Firms such as Jefferies and Macquarie maintain buy or outperform recommendations, while Citi and Nuvama cut their target prices.
* Havells: UBS maintains a buy recommendation with a target price of Rs 2145/sh, while JP Morgan maintains a neutral recommendation.
* LTIM: Citi and Nomura maintain sell recommendations, while MS and Macquarie maintain overweight or outperform recommendations.
Overall, the reports provide a mixed bag of recommendations, with some firms maintaining buy or outperform recommendations for certain companies, while others cut their target prices or maintain neutral recommendations.
RECPDCL awards ₹80 million transmission project to Reliance Industries
Reliance Industries is set to acquire a 100% stake in Lakadia B Power Transmission from Reliace Power Development and Consultancy (RECPDCL) for ₹80 million to establish an interstate transmission system (ISTS) to evacuate up to 3.5 GW of renewable energy from Lakadia in Gujarat. The project aims to develop a transmission system to augment the transformation capacity at the 765/400 kV Lakadia S/s (WRSS XXI (A) TRANSCO LTD) in Gujarat – Part B, facilitating the integration of 2.5 GW of power from multiple renewable energy projects in the Lakadia renewable energy zone.
The project will involve the design, engineering, construction, testing, and commissioning of the transmission system, as well as the provision of project management, surveys, and clearance acquisition. Reliance will also develop a detailed project report, arrange finance, and provide land compensation for the project.
The transmission system will install a 22 kV line bay for several renewable energy projects, including Juniper Green Energy, TEQ Green Power, Ganeko Solar, and others. Additionally, a 1×330 MVAr 765 kV bus reactor will be installed, along with an associated bay, to augment the transformation capacity at Lakadia PS by 1×1500 MVA, 765/400 kV ICTs (3rd).
RECPDCL had issued a request for proposal in October 2024 to establish an ISTS to evacuate 4.5 GW of power from the Kurnool-IV Renewable Energy Zone Phase 1 in Andhra Pradesh, and also invited bids to establish an ISTS to augment transformation capacity at Banaskantha (Raghanesda) in Gujarat.
Siemens eMobility has been selected to power major electric vehicle charging stations across Italy.
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iPlanet has partnered with Siemens eMobility to install advanced charging infrastructure at over 120 logistics sites. This partnership aims to accelerate the electrification of public transportation and transform petrol stations into strategic service areas. The project involves the installation of charging points that can cater to a wide range of electric vehicles, including buses, trucks, and cars.
The partnership between iPlanet and Siemens eMobility is significant, as it marks a major step towards reducing carbon emissions and promoting sustainable transportation. The installation of advanced charging infrastructure will enable the widespread adoption of electric vehicles, which will in turn help to reduce greenhouse gas emissions and improve air quality.
The transformation of petrol stations into strategic service areas is also an important aspect of the project. These stations will not only provide charging facilities but also offer a range of services, including food, beverage, and convenience items. This will make them attractive destinations for drivers, whether they are taking a break from a long journey or simply need to refuel and recharge.
The project is expected to have a significant impact on the environment, as it will help to reduce the reliance on fossil fuels and promote the use of cleaner, more sustainable energy sources. It will also create new business opportunities and stimulate economic growth in the regions where the charging infrastructure is installed.
Overall, the partnership between iPlanet and Siemens eMobility is an important step towards creating a more sustainable and environmentally-friendly transportation system. The installation of advanced charging infrastructure will enable the widespread adoption of electric vehicles, reduce carbon emissions, and promote sustainable transportation.
Caution: Be wary of mysterious international calls; learn more [Tap to explore] – Inshorts
Reliance Jio, a leading telecommunications company in India, has issued a warning to its subscribers regarding unknown international numbers. The warning comes as a precautionary measure to protect its customers from potential fraud and scams.
According to the warning, Jio has noticed a significant increase in the number of unknown international calls being made to its subscribers. These calls are often from unknown or unfamiliar numbers, and Jio is urging its customers to be cautious when receiving such calls.
The company has advised its subscribers to be wary of calls from unknown international numbers, especially those with international dialing codes such as +91, +1, +44, or +27. Jio has also warned its customers to be cautious of calls that ask for personal or financial information, such as passwords, credit card numbers, or other sensitive data.
Jio has also provided some tips to its subscribers on how to identify and avoid potential scams. These tips include:
* Being cautious of calls from unknown or unfamiliar numbers
* Not providing personal or financial information to unknown callers
* Not responding to calls that ask for sensitive information
* Not clicking on links or downloading attachments from unknown sources
* Not making unsolicited payments to unknown individuals or companies
Jio has also assured its customers that it is taking steps to prevent and detect fraudulent activities on its network. The company has implemented various security measures, including advanced call filtering and blocking systems, to help protect its subscribers from potential scams.
In addition, Jio has advised its customers to report any suspicious calls or activities to the company’s customer care department. The company has also set up a dedicated helpline for subscribers to report any fraudulent activities or scams.
Overall, Jio’s warning is a proactive measure to protect its customers from potential fraud and scams. By being aware of the potential risks and taking precautions, Jio’s subscribers can help prevent and detect fraudulent activities on the company’s network.
Reliance, led by Mukesh Ambani, makes a bold entry into the Maha Kumbh 2025 market…
Reliance Industries, led by Mukesh Ambani, is setting up “Campa Ashrams” at the Kumbh Mela in Prayagraj to provide resting places and refreshments for pilgrims. The company has also arranged for Campa boats to promote its brand. The ashrams are designed to be safe and peaceful, with clear signage and direction boards to assist pilgrims. Reliance Consumer Products Limited’s CEO, Ketan Modi, stated that the company is honoring the spirit of the grand spiritual gathering and reshaping its legacy in Indian consumerism.
Reckitt, a leading consumer health and hygiene company, is also participating in the Mahakumbh with its “Dettol Banega Swasth India” campaign, promoting public health and hygiene at the event. The company is contributing to India’s “Developed India @ 2047” agenda by emphasizing cleanliness as a foundation of good health.
Gautam Adani’s Adani Group is also participating in the Mahakumbh, partnering with Gita Press and ISKCON to distribute free copies of ‘Aarti Sangrah’ and serve meals to devotees and pilgrims. The Mahakumbh has begun, with the first bath taking place on January 13, and the “shahi snan” scheduled for January 14, 29, and February 3.
Anil Ambani’s Reliance Eyes Foray into Solar Module Manufacturing
Anil Ambani-led Reliance Power and its subsidiaries have been exploring opportunities in power generation, energy storage, and renewable energy. There are reports that they may venture into solar module manufacturing, with a planned investment of Rs 6,500 crore in Andhra Pradesh. This would be a significant move, given the competitive landscape of the solar manufacturing industry, with over 130 existing players in India. The company would need to sell at least 3-4 GW of modules to recover their investment and compete with other manufacturers. Additionally, the Indian government’s protectionist measures, such as the Approved List of Models and Manufacturers, provide advantages to domestic solar module makers. Mukesh Ambani-led Reliance Group is also pursuing its plans for integrated solar and wind energy manufacturing in Jamnagar, which could further intensify the competition. However, as Reliance Power already has a diversified energy portfolio, including a 5,300-megawatt operating portfolio, a foray into solar module manufacturing could help them expand their presence in the sector.
Reliance Consumer Products joins forces with Maha Kumbh 2025 to provide pilgrims with compassionate and dedicated service, ‘seva’, during this sacred event.
Reliance Consumer Products Limited (RCPL) is participating in the Maha Kumbh Prayagraj 2025, one of the world’s largest spiritual gatherings, to enhance the experience of millions of pilgrims. The company will offer a range of initiatives, including providing essential refreshments, signage, and directional boards to assist pilgrims. RCPL will also operate Aaram Sthal, designated comfortable rest zones, and Campa Ashram, a thoughtfully designed space for pilgrims to rest. The company’s Chief Operating Officer, Ketan Mody, said that RCPL’s participation is about honouring the spirit of the event while empowering everyday life of pilgrims and consumers. The company is committed to fostering deeper connections with the people of India and supporting cultural heritage. RCPL’s initiatives aim to promote national harmony and spiritual well-being, reflecting the vision of Prime Minister Narendra Modi. The company’s participation in the event highlights its commitment to community service and its role in supporting large-scale cultural and spiritual events that unite people from all walks of life.
Flipkart in advanced discussions with Reliance’s top brass to helm its electronics division, The Arc.
Flipkart, a popular e-commerce platform in India, is in talks with a top executive from Reliance Industries to run its electronics business under a new entity called ‘The Arc’. Sources close to the development revealed that the move is aimed at strengthening Flipkart’s presence in the online electronics market and competing with major players such as Amazon and Snapdeal. The new venture, The Arc, would focus on selling a wide range of consumer electronics, including smartphones, laptops, and televisions, in addition to other home appliances and gadgets. The talks between Flipkart and the Reliance executive are ongoing, and the deal may be structured as a partnership or a full-fledged acquisition, depending on the outcome of the negotiations. The move is seen as a strategic shift by Flipkart to expand its reach and offerings in the rapidly growing electronics market, which is expected to continue its upward momentum in the coming years.
For the first time, Reliance Jio surpasses Bharti Airtel to become India’s top telecom brand, with Mukesh Ambani once again gaining the upper hand over Sunil Mittal.
Reliance Jio, led by Mukesh Ambani, has achieved a significant milestone by becoming the first telecom operator in India to deliver seamless connectivity at Siachen Glacier, the highest battlefield in the world. The company successfully deployed plug-and-play pre-configured equipment at a forward post, leveraging its indigenous full-stack 5G technology. The installation was made possible through a collaboration with the Indian Army, who managed logistics and airlifted Jio’s equipment to the glacier. The extreme conditions at Siachen Glacier, with temperatures plummeting to -50 degrees Celsius, presented a significant challenge. Despite these conditions, Jio’s 5G technology was able to provide connectivity at 16,000 feet in the Karakoram range. The achievement was celebrated by the Fire & Fury Corps, who said it was dedicated to the brave soldiers deployed in challenging conditions. This milestone marks a significant achievement for Reliance Jio and demonstrates the company’s ability to provide connectivity in even the most extreme environments.
Siemens’ distinctive value proposition for the World Economic Forum at Davos 2025
The municipality of Davos, Switzerland, is a unique case study in meeting high expectations in a challenging environment. With its reliance on renewable energy sources and extensive energy infrastructure, it requires robust and reliable systems to support its homes, businesses, and global events like the World Economic Forum. The town’s utility company, EWD, has committed to sustainability, providing renewable heat and hydropower to customers and ensuring energy resilience for over 130 years. The adoption of Siemens’ blue GIS technology ensures minimal environmental impact while maintaining performance and reliability. This move reflects a broader shift towards greener energy systems, prioritizing long-term ecological impacts. The municipality’s emphasis on environmental responsibility aligns with EWD’s heritage, and it is “essential to invest in the continued expansion of power grids.”
Jio is offering a complimentary service to millions of users for two years from 2025, courtesy of Reliance founder Mukesh Ambani.
Reliance Jio has launched a new offer for its subscribers. As of January 12, 2025, Jio Air Fiber and Jio Fiber users can get a free two-year subscription to YouTube Premium. This means that they will be able to stream videos on YouTube without ads for 24 months. The starting price of YouTube Premium in India is Rs 149, but with this offer, Jio customers will not have to pay for it. This offer is available for users with selected recharge plans, specifically those that cost Rs 888, Rs 1199, Rs 1499, Rs 2499, or Rs 3499. With this offer, users will also be able to watch videos in offline mode, as long as they have downloaded them. The offer is a great deal for Jio customers, as it will allow them to enjoy ad-free content on YouTube for a significant amount of time. Jio has announced this offer through social media, and it is expected to make a significant impact on the company’s customer base, which totals over 490 million users.
Q3 results for FY25 are due this week, with over 110 companies, including RIL, Jio Financial, Wipro, and Infosys, set to release their quarterly earnings, sparking interest in potential dividend announcements.
The quarterly earnings season for the October-December 2024 period has begun, with over 110 companies set to release their results. Some notable companies that will announce their Q3 FY25 results include Reliance Industries, Jio Financial Services, Wipro, Infosys, HCL Technologies, and Axis Bank. The earnings season will run from January 13 to January 18, with companies announcing their results on different days. On Monday, January 13, companies like HCL Technologies and Angel One will release their results, while on Tuesday, January 14, companies like HDFC Asset Management Company and Shoppers Stop will announce theirs. On Thursday, January 16, companies like Reliance Industries, Infosys, and Axis Bank will release their results. Some companies will also declare dividends to their shareholders, including Wipro, HCL Technologies, and Havells India, among others. The Q3 results will provide insights into the financial performance of these companies for the October-December 2024 period.
Exclusive Reveal: Mukesh Ambani Unveils Reliance Jio’s Blockbuster Plan for 2025 – All-Inclusive VoLTE, Text, and Data Package for Unbeatable Rupees…
Reliance Jio has introduced new annual plans for 2025, offering competitive pricing and extensive benefits to cater to various user needs. The plans are designed for heavy data users who want long-term validity and generous data packages. The New Year Welcome Plan, priced at Rs 2025, offers unlimited voice calls, SMS, and 500GB of data (2.5GB per day) with a validity of 200 days. Additionally, subscribers will receive partner coupons worth Rs 2150. Other key plans include the Rs 3,999 plan, which offers 2.5GB daily data, unlimited voice calls, 100 SMS per day, and access to JioTV, JioCloud, and JioCinema, as well as a subscription to FanCode via the JioTV Mobile app. The Rs 3,599 plan offers similar benefits, but without the FanCode subscription. These plans aim to reinforce Reliance Jio’s position as a leading telecom provider in India.
Reliance Retail’s growth trajectory is expected to rebound in the December quarter, according to industry reports.
Reliance Retail, India’s largest organized retailer, is expected to return to growth in the third quarter of the current financial year, driven by festive demand, according to sector analysts. Goldman Sachs, Bernstein, and CLSA have all previewed Reliance Retail’s earnings, citing improved discretionary spending and a return to growth. Goldman Sachs expects a 5% year-on-year sales growth in Q3, while Bernstein sees mid-single-digit sales growth in FY25 starting with the third quarter. The analysts also predict an improvement in like-for-like growth for Reliance Retail’s jewelry and quick-service restaurants businesses. Additionally, Reliance Retail is expected to maintain a cautious store addition strategy, with a focus on rationalizing costs and closing unprofitable stores. The company has already scaled back its store additions in Q2, closing 436 unprofitable stores and focusing on its quick commerce pilot under JioMart. With over 19,000 outlets and nearly 80 million square feet of operation, Reliance Retail is expected to emerge from its period of consolidation, driven by strong demand and a focus on profitability.
Most effective routes to market depth and liquidity bypass reliance on derivatives, asserts SBI Head
State Bank of India Chairman Challa Sreenivasulu Setty emphasized the need to deepen India’s capital markets by widening the pool of listed companies and encouraging spot transactions for price discovery, rather than relying on derivatives. He stated that the recent SEBI measure to curb access to derivatives is a step in the right direction. Setty emphasized the importance of capital markets in mobilizing savings and achieving economic growth, and highlighted the need for India to devise mechanisms to ensure private placements lead to more open offers and better use of technology to reduce costs and enhance investor education. He also stressed the importance of strengthening investor protection and developing the Investor Protection Fund. Setty predicted that India will require ₹1,094 lakh crore in savings by 2036 to achieve its growth goals, and emphasized the need for capital markets to mobilize more private capital for key sectors with financing needs. He also highlighted the importance of domestic savings rates rising to 33.5% and money being channeled for productive use rather than derivatives.
TIRTIR, a Korean beauty brand, expands its footprint in India by opening offline stores with Reliance’s Tira platform.
Korean skincare and makeup brand TIRTIR has entered the offline retail space in India in partnership with Reliance Retail’s omnichannel beauty platform Tira. TIRTIR products are now available in select Tira stores across Mumbai, New Delhi, and Bengaluru, including Jio World Drive, DLF Avenue, Mall of Asia, Infiniti Mall, and more. Founded in 2015 in Seoul, South Korea, TIRTIR specializes in makeup, haircare, and skincare products and gained popularity on BeautyTok, a niche on TikTok. The brand made its online debut in India in December 2024, and is now available on Tira and Nykaa. The brand offers products such as cushion foundation, milk skin toner, ceramic milk ampoule, and makeup fixing spray. Korean beauty products have gained immense popularity in India due to their innovative products and focus on personalized skincare solutions, with several Korean brands already entering the Indian market through online and offline channels.
Global investors in Jio and Reliance Retail may maintain their stakes beyond the initial 5-year horizon.
Reliance Industries’ (RIL) asset-rich subsidiaries, Jio Platforms Ltd (JPL) and Reliance Retail Ventures Ltd (RRVL), are likely to continue with their current investors, including Meta, Google, and private equity investors, after their initial five-year terms end in 2025. These investors are satisfied with the companies’ performance and valuations, expecting further growth and increased valuation with the separation and listing of businesses. As a result, RIL’s chairman, Mukesh Ambani, is considering an IPO of JPL by the end of this year to broaden the investment base. JPL and RRVL have already received significant investments, exceeding ₹2 lakh crore, from global investors, with JPL raising ₹152,056 crore and RRVL raising ₹53,000 crore in 2020-21. RIL has also executed various funding rounds, including a rights issue, stake sales, and investments in tower and optic fibre InvITs.
Kakinada’s green ammonia plant and Reliance Industries’ 500 CBG plants are among the renewable energy projects recently cleared by the State government.
The Andhra Pradesh government has approved the establishment of a 1 MMTPA green hydrogen-based green ammonia manufacturing plant in Kakinada by AM Green Ammonia (India) Private Limited. The government will provide various incentives, including a 25% capital subsidy, reimbursement of 100% net SGST revenue, and exemption of 50% intra-State transmission charges for power procurement. Additionally, the government has approved the setting up of 500 Compressed Bio-Gas (CBG) plants by Reliance Industries Limited, which will have an aggregate capacity of 11,000 Metric Tons. The government has also sanctioned the proposal for setting up a 119 MW wind and 130 MW solar hybrid power plant along with a Battery Energy Storage System (BESS) in Nandyal and YSR districts. Furthermore, a 400 MW solar power project by Tata Power Renewable Energy Limited in Kurnool district and a 2 GW electrolyser manufacturing facility in Kakinada by John Cockerill Greenko Hydrogen Solutions Private Limited have been approved. These projects are expected to create jobs and boost the state’s clean energy sector, aligning with the AP Integrated Clean Energy Policy, 2024.
Meet a long-time friend of Mukesh Ambani, the chairman of Jai Corp, who also has a notable connection to his estranged brother, Anil Ambani.
Anand Jain, the chairman of Jai Corp Limited, has a unique position in Indian business and a special connection to the Ambani family. He is known as “Dhirubhai Ambani’s third son” and has played a key role in the growth of Reliance Industries, alongside Mukesh Ambani. Jain’s professional achievements are impressive, with Jai Corp Ltd. invested in various sectors, including real estate, steel manufacturing, and infrastructure projects. He has been recognized for his expertise in financial services and real estate, and was ranked 11th on Forbes India’s list of India’s 40 Richest in 2007. Jain’s relationship with Mukesh Ambani dates back to their school days, and he joined Reliance Industries after Mukesh returned to India. He held various roles within the company, including Vice Chairman of Reliance Capital. However, his relationship with Anil Ambani, Mukesh’s younger brother, was strained due to disagreements, with Jain’s support for Mukesh likely contributing to the rift. Jain is married with two children, and his loyalty and business acumen have earned him a special place in the Ambani family.
Reliance Jio updates its SUPERHIT plans: Rs 19 and Rs 29 tariffs revamped, what it means for subscribers
Reliance Jio has revised its two most economical data plans, Rs 19 and Rs 29, after increasing prices five months ago. These changes aim to simplify Jio’s offerings, but have raised concerns among users. The Rs 19 plan, which previously had a validity period matching the user’s base plan, now has a one-day validity, limiting users to 1GB of data in a day. The Rs 29 plan, which provided 2GB of data, now has a two-day validity period. This change may force users to recharge more frequently, raising concerns about value. The modifications suggest a shift in Jio’s strategy, particularly affecting budget-conscious users who relied on these plans for supplementary data.
Mukesh Ambani and his daughter Isha take a massive business decision, announcing the strategic write-off of a whopping Rs 1,660 crore investment in…
Mukesh Ambani’s Reliance Retail has made a significant move by writing off its $200 million investment in hyperlocal startup Dunzo. The decision comes after the company’s cash crunch and retreat from quick commerce over the past two years. Reliance, which holds a 25.8% stake in Dunzo, is no longer involved in funding or sale discussions. Dunzo’s CEO, Kabeer Biswas, is in talks to sell the company to high-net-worth individuals or family offices, valuing it between Rs 300 crore ($25-30 million). Sources say the company’s departure from profitability, delays in salary payments, and difficulty clearing employee dues were among the challenges it faced. Prior to this, Dunzo had engaged in talks with Swiggy and BigBasket for a potential buyout, but these discussions failed. The company’s founders have also stepped down, and most of its investors, including Reliance, Google, and Lightbox, have departed from the board.
Are Reliance, Asian Paints, and DMART undervalued, warranting a buy opportunity, despite underperforming the Nifty50?
The article discusses the performance of Reliance, Asian Paints, and DMART, which have underperformed the Nifty50. Despite this, the article asks whether it’s the right time to buy these stocks. Reliance has been facing challenges due to the debt burden of its subsidiary Jio Platforms, while Asian Paints has been impacted by the COVID-19 pandemic and raw material price increases. DMART, on the other hand, has seen a decline in its stock price due to concerns over the impact of COVID-19 on its business.
Despite these challenges, the article suggests that these stocks may be worth considering due to their strong fundamentals and long-term potential. Reliance, for example, has a strong track record of performance and a diversified business portfolio. Asian Paints has a strong brand presence and a loyal customer base, while DMART has a strong network of stores and a loyal customer base.
The article concludes that while these stocks have underperformed the Nifty50, they may still be worth considering for long-term investors who are willing to ride out the short-term volatility. However, it also notes that investors should carefully consider the risks and do their own research before making any investment decisions.
HDFC Bank, TCS, and SBI’s market capitalization took a hit of nearly Rs 1 lakh crore this week, while RIL and ITC bucked the trend to emerge as winners.
The combined market valuation of four of the top-10 most valued companies in India, including HDFC Bank, ICICI Bank, TCS, and State Bank of India, fell by a collective Rs 96,605.66 crores. HDFC Bank’s valuation dropped by Rs 37,025.46 crores, while ICICI Bank’s fell by Rs 29,324.55 crores. TCS and State Bank of India’s values also declined, resulting in a total loss. On the other hand, Reliance Industries gained Rs 41,138.41 crores, followed by Hindustan Unilever, LIC, Infosys, ITC, and Bharti Airtel, which added value to their respective valuations. The broader market showed a positive trend, with the BSE benchmark index rising 0.66% and the Nifty index increasing 0.80%. Reliance Industries remained the most valued company, followed by TCS, HDFC Bank, and others.
India’s technology conglomerates reign supreme on US H-1B visas, with Infosys and TCS at the forefront of the list.Let me know if you’d like me to make any further changes!
Indian-origin tech companies, such as Infosys, Tata Consultancy Services, and HCL America, cornered a fifth of all H1B visas issued by the US, with Infosys holding the top spot with 8,140 beneficiaries. TCS came in second with 5,274 visas, while HCL America had 2,953. The H1B visa program allows US companies to temporarily employ foreign workers in specialized occupations. Indian IT services firms have been major beneficiaries of this program, with TCS, Infosys, Wipro, and HCL Technologies consistently ranking among the top employers of H1B visa holders. However, Wipro secured only 1,634 visas this time, ranking lower than its peers. The future of the H1B visa program will depend on balancing the US’s need for skilled labor with broader immigration policy reforms. Elona Musk has publicly endorsed the tech industry’s reliance on foreign workers, citing the importance of welcoming individuals from diverse backgrounds who contribute through hard work.
Mukesh Ambani’s Jio users rejoice! Get endless calling, an astonishing 336-day validity, and complimentary JioCloud for just…
Reliance Jio, the largest telecom operator in India, has introduced a new prepaid plan with 24GB of high-speed data, 3600 SMS, and unlimited calling to local and STD numbers. The plan, available for Rs 1899, also offers free access to Jio TV, Jio Cinema, and Jio Cloud. The plan has an 11-month validity period, making it a great option for those who use limited data and want an affordable solution. The plan also includes unlimited free calling, but Jio Cinema premium subscription is not included. While the data limit may be low, the plan’s long validity period and reasonable cost make it a good choice for those who rely on Wi-Fi for work and personal use. Notably, no other telecom operators like Vodafone Idea (Vi) and Airtel offer plans with such a long validity period. Overall, this plan is particularly suited for prepaid Jio users looking for a cost-effective option.
Anant Ambani unveils ambitious plans for Jamnagar and Vantara as Reliance Refinery celebrates its 25th anniversary, marking a milestone in its evolution as an iconic institution.
Anant Jaiawalal Ambani, the son of Nita and Mukesh Ambani, has outlined his vision for Jamnagar and Vantara, two iconic Reliance Industries’ refineries. On the occasion of the 25th anniversary of the Jamnagar refinery, Anant shared his vision for the future of these facilities. He emphasized the importance of sustainability and innovation in the energy sector, highlighting the need for cleaner fuels, reduced carbon footprint, and water conservation. Anant also stressed the significance of collaboration and partnerships, citing the cooperation between Reliance and governments, academia, and industry partners. He noted the refinery’s commitment to creating a healthier environment and supporting local communities. Additionally, he mentioned the refinery’s plans to introduce new technologies, such as hydrogen production and carbon capture, to reduce emissions. Anant’s vision for Jamnagar and Vantara focuses on balancing economic progress with environmental concerns, showcasing Reliance’s commitment to a sustainable future.
The Tata Power’s Southern Odisha office takes a sustainable step ahead as it transforms into a ‘Green Office’.
Tata Power Southern Odisha Distribution Limited (TPSODL) has transformed its corporate office in Berhampur, Odisha, into a green office powered entirely by solar energy. The 100KW rooftop solar plant generates 12,000 units of electricity each month, meeting the office’s daily needs and creating a surplus. Over the next 25 years, this initiative is expected to prevent 2,800 tons of CO₂ emissions, showcasing TPSODL’s commitment to reducing its carbon footprint and adopting sustainable energy solutions. The “Green Office Initiative” began operations on New Year’s Day, marking a significant milestone in the company’s mission to promote eco-friendly practices and renewable energy. The project is part of TPSODL’s approved capital expenditure for the current financial year and includes plans to solarize all office buildings across Southern Odisha. Through this effort, TPSODL aims to reduce reliance on traditional energy sources, foster a culture of renewable energy, and inspire the community to adopt eco-friendly practices.
Chinese e-commerce platform, a thorn in the side of European fashion giants like Zara and H&M, as well as Amazon in the US, is now available on Reliance’s Ajio website.
The Chinese e-commerce giant, Pinduoduo, plans to enter the Indian market through a partnership with Reliance’s e-commerce platform, Ajio. This move is seen as a significant development, as Pinduoduo has already clashed with Western fashion retailers like Zara, H&M in Europe and Amazon in the US. Pinduoduo, known for its affordable pricing and high-discount model, has disrupted the fashion and retail industry in China and is eyeing expansion into new markets. Ajio, which is Reliance’s e-commerce platform, will partner with Pinduoduo to offer customers in India access to the Chinese brand’s products. This partnership is expected to give Ajio a competitive edge in the Indian market, where e-commerce has been growing rapidly. The partnership will enable Indian customers to purchase Pinduoduo’s products, which are known for their affordable prices and trendy designs, through Ajio’s platform. With this move, Reliance is likely to increase its market share in the Indian e-commerce space and take on competition from other players.
Jamnagar Refinery Celebrates Quarter-Century Milestone, Nita Ambani Pays Tribute to Dhirubhai Ambani’s Legacy
Reliance Industries, led by Mukesh Ambani, celebrated the 25th anniversary of the Jamnagar Refinery in Gujarat, India, on December 28, 2024. The refinery, which was launched on the same date in 1999, has played a significant role in India’s progress, accounting for 25% of the country’s petroleum refining capacity. During the commemoration, Nita Ambani, Chairperson and founder of the Reliance Foundation, honored her father-in-law Dhirubhai Ambani’s vision, calling Jamnagar his “karma bhoomi” (the land of duty). The refinery was set up on barren land near the village of Motikhavdi, which was previously considered impossible to develop. Despite challenges, Reliance successfully completed the project in 33 months, and it is now the world’s largest oil refinery with a capacity of 1.4 million barrels per day. Nita Ambani credited Mukesh Ambani for his dedication to turning his father’s vision into reality, calling Jamnagar “the land of devotion and respect” for Mukesh. The refinery is a testament to the Ambani family’s legacy and their pursuit of their dreams.
A construction company specializing in building projects has secured multi-million rupee contracts from the Reliance Group, garnering a massive 220% return on investment for its clients.
A civil construction company, which is already a multibagger, has bagged a massive order from the Reliance Group worth ₹568.20 crore. The company, a leading player in the infrastructure segment, has been awarded multiple projects by Reliance Group, reinforcing its position in the industry. The order win is a testament to the company’s capabilities and expertise in execution, quality, and timely completion of projects.
The company, which has given 220% returns to investors, is a play on India’s infrastructure boom. Its orders from Reliance Group are significant, considering the company’s robust order book of over ₹13,000 crore. The firm’s focus on executing large and complex projects, its strong cash flow, and its ability to manage risk efficiently have contributed to its success.
The company’s stock has surged in recent months, driven by its strong execution capabilities, solid order book, and robust financial performance. The company’s ability to deliver projects efficiently and effectively is expected to sustain its growth trajectory, making it an attractive option for investors looking to benefit from India’s infrastructure growth story.
The market capitalization of India’s top 10 most-valued firms surged by a staggering Rs 1.42 lakh crore, with Infosys and Reliance Industries leading the charge.
The Indian stock market saw significant gains in the market capitalization of several major companies. Tata Consultancy Services (TCS) and HCL Technologies saw the largest increases, with gains of Rs 22,902 crore and Rs 14,789 crore, respectively. Other companies that recorded notable increases include Hindustan Unilever (Rs 11,254 crore), HDFC Bank (Rs 8,412 crore), and Bharti Airtel (Rs 7,974 crore). State Bank of India, ITC, and ICICI Bank also saw their market capitalization rise by Rs 7,139 crore, Rs 6,380 crore, and Rs 4,905 crore, respectively. These increases pushed the market capitalization of these companies to new highs. As of the summary date, the top 10 most-valued companies in India were Reliance Industries, TCS, HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, State Bank of India, Hindustan Unilever, ITC, and HCL Technologies.
Mukesh Ambani’s fortunes shine bright this New Year, as Reliance Jio’s AGR increases, with Sunil Mittal’s Airtel following suit, reports India.com.
Mukesh Ambani, the owner of Reliance Jio, received good news to start the new year. The company’s Adjusted Gross Revenue (AGR) has seen a significant increase. According to the latest figures, Reliance Jio’s AGR has risen by 15.7% in the October-December quarter of the current fiscal year. This increase is a testament to the company’s growing user base and strong financial performance.
Sunil Mittal, the owner of Airtel, has also reported a similar increase in AGR. Airtel’s AGR has risen by 10.4% in the same quarter. Both companies have benefited from the ongoing 5G spectrum auction, which has increased their revenue and profitability.
Reliance Jio’s AGR increase is attributed to its robust growth in subscribers, data revenue, and other sources of income. The company’s focus on offering affordable data plans and expanding its 4G network has contributed to its growth. Airtel’s increase in AGR is also attributed to its growing subscriber base and increasing revenue from data services.
Mukesh Ambani’s driver receives a salary of Rs… which is significantly higher than what many corporate employees earn, a testament to the vast disparities in wealth.
Mukesh Ambani, the chairman of Reliance Industries, is Asia’s richest person and a prominent business leader. His company operates in various sectors, including petrochemicals, textiles, retail, and telecom. After his father’s death, Ambani took over Reliance along with his brother, and they later divided the business, with Ambani becoming chairman of Reliance Industries. The company prioritizes employee welfare, and an old video revealed that one of Ambani’s drivers received a salary of Rs 2 lakh, higher than many corporate employees. The drivers are hired through contracting firms and undergo professional training to handle luxurious vehicles and manage complex situations, with a focus on safety. The Ambanis own several luxurious vehicles, which require a high level of expertise to operate securely. A cavalcade of security personnel accompanies the vehicles to ensure multiple layers of protection. The video highlighted the privileged lives of the Ambani family and the high standards they set for their employees.
The mid-market session saw the NIFTY50 and SENSEX surge 0.5% higher, with HDFC Bank, ICICI Bank, and Reliance leading the way in the top index movers, according to data from Upstox.
The Indian stock market saw a positive start to the mid-session, with the NIFTY50 and SENSEX rising 0.5% higher. Several leading stocks contributed to the gains, including HDFC Bank, ICICI Bank, and Reliance. The Sensex rose by 340 points, with the NIFTY near 23,750. Maruti Suzuki and Mahindra & Mahindra (M&M) were among the top gainers.
The gains were led by the financial services sector, which rose 1.2%. The Indian benchmark VIX, a measure of market volatility, rose 1.7%. The GIFT NIFTY, a gauge of the broader market, fell 40 points. Despite some caution due to the ongoing COVID-19 pandemic, the markets opened strong, with investors hopeful of a strong economic recovery. The uptick was driven by positive sentiments in the banking and financial sectors, as well as a pickup in global markets. The Indian rupee also strengthened versus the US dollar. Overall, the mid-session report indicated a modest but positive mood in the Indian stock market.
Viacom18 Media is absorbed into Reliance Industries as a subsidiary, Goodreturns reports.
Viacom18 Media, a well-known Indian media conglomerate, has been acquired by Reliance Industries, a leading Indian conglomerate. As a result, Viacom18 Media has become a subsidiary of Reliance Industries. This acquisition is seen as a significant development in the Indian media and entertainment industry.
Viacom18 Media owns several popular brands, including Viacom18, MTV, Nickelodeon, and Colors, among others. These brands have been a part of the Indian entertainment landscape for decades and have become household names. With Reliance Industries’ acquisition, they will continue to operate independently, albeit with the backing of a larger and more influential parent company.
This move is expected to bring additional resources and support to Viacom18 Media, enabling it to expand its reach and offerings in the Indian media and entertainment space. By joining forces with Reliance Industries, Viacom18 Media will be well-positioned to take on the challenges and opportunities presented by the fast-paced and competitive Indian media landscape.
In summary, the acquisition of Viacom18 Media by Reliance Industries is a significant event in the Indian media and entertainment industry, offering opportunities for growth and expansion while maintaining the independence and autonomy of the subsidiary brands.
Reliance Industries Looks Back on 2024 Highlights in Exclusive #Rewind2024 Video
Reliance Industries, a leading Indian conglomerate, celebrated its achievements in 2024 with a reflective post on social media platform X. The company released a video titled “#Rewind2024”, highlighting its milestones and successes under the theme of unity and progress. The video showcased notable events, including Reliance Chairman and Managing Director Mukesh Ambani’s addresses at major global forums like the Vibrant Gujarat Summit and Tamil Nadu Global Investors Meet. The video also highlighted several accolades, including Jio being named India’s Strongest Brand and one of the World’s 25 Strongest Brands, and Reliance Industries being recognized as one of the World’s Most Valuable Brands and India’s Most Valuable Company. Additionally, Mukesh Ambani was named the Number 1 CEO in India and Number 2 globally in the Brand Guardianship Index 2024, and Isha Ambani received the “Maharashtrian of the Year” award. The company concluded the message with a forward-looking sentiment, wishing all a “happy and prosperous New Year 2025”.
Reliance enters high-value venture, trades oil from KG block for premium prices
Reliance Industries Ltd, a leading energy company in India, has resumed crude oil production from its east coast MA-1 field, which was temporarily shut down in December. The company is seeking bids from domestic refiners for the sale of 17,600 barrels of crude oil per month from April 2025 to February 2026 from its KG-D6 block. The crude oil is priced based on the daily average price of Nigerian Bonny Light grade crude oil plus a quality premium of $1.5 per barrel. Bidders must quote a premium over this price, which cannot be less than $2 per barrel. The sale period can be extended by up to one year. The crude oil will be delivered at Gadimoga in East Godavari district of Andhra Pradesh, and the buyer must consume/process/refine it in their own facility located within India. All taxes and duties, including excise duty, VAT, and GST, will be paid by the buyer. The bid deadline is January 24, 2025.
Reliance Jio’s strategic play: How the telco will shake up India’s AI landscape
Reliance Jio is working with NVIDIA to make artificial intelligence (AI) more affordable and accessible in India. The partnership aims to deploy AI applications in various sectors, including retail, healthcare, and education. Jio is building a 1 GW AI data center in Jamnagar, India, which will be powered by green energy and provide GPU-as-a-service at competitive rates. The company is participating in the government’s India AI Mission, which aims to provide GPUs at subsidized prices. Jio is also integration AI into its corporate functions through the Jio Brain suite, which will help with real-time decision-making. The company plans to offer Jio Brain as a platform to other enterprises in the future. Jio’s executive stated that the company’s strategy involves three key elements: devices, data on cloud, and high-speed broadband networks, to make AI accessible to everyone. The goal is to create a personal AI agency for each individual, based on their needs and preferences.
Reliance’s Jamnagar Refinery Celebrates 25 Years of Uninterrupted Operations
Twenty-five years ago, Reliance Industries Ltd launched its first refinery in Jamnagar, Gujarat, which marked a significant milestone in India’s energy sector. The refinery, built in just 33 months, was the world’s largest grassroots refinery at the time and produced 27 million tonnes of oil per year. The project was dubbed “impossible” by many experts, but Reliance’s founder, Dhirubhai Ambani, refused to give up on his dream. The refinery was built in a desolate region with no infrastructure, but Ambani’s team worked tirelessly to complete the project. The refinery transformed the region, creating jobs and economic growth. The success of the refinery was replicated with the construction of a second unit, increasing capacity to 29 million tonnes. The refinery is now the world’s largest single-site refining complex and a “super” refinery, capable of processing heavy crudes into top-quality products. The refinery has also had a positive impact on the environment, creating a green zone and supporting wildlife rehabilitation. Today, Jamnagar is a pride of India, showcasing the country’s capability to achieve complex and ambitious projects.
The market capitalization of six of the top 10 most valued companies soars by Rs 86,848 crore, with HDFC Bank and RIL being the top gainers.
Last week, the top-10 most valued Indian firms added a total of Rs 86,847.88 crore to their market valuation. HDFC Bank and Reliance Industries were the biggest gainers, with their market capitalization increasing by Rs 20,235.95 crore and Rs 20,230.9 crore, respectively. Other winners included ITC, ICICI Bank, Bharti Airtel, and Hindustan Unilever. The market capitalization of these firms surged by Rs 17,933.49 crore, Rs 15,254.01 crore, Rs 11,948.24 crore, and Rs 1,245.29 crore, respectively. On the other hand, State Bank of India, Life Insurance Corporation of India (LIC), and Infosys suffered erosion in their market valuation, with their market capitalization declining by Rs 11,557.39 crore, Rs 8,412.24 crore, and Rs 2,283.75 crore, respectively. The market capitalization of Tata Consultancy Services (TCS) also dipped by Rs 36.18 crore. Reliance Industries remained the most valued domestic firm, followed by TCS, HDFC Bank, ICICI Bank, and others.
EXCLUSIVE VIDEOS: Rupali Ganguly, Bharti Singh, and Sunil Grover shine at Reliance Family Day event, along with other stars.
Reliance Family Day, an annual event hosted by business tycoon Mukesh Ambani, is being celebrated today at Reliance Corporate Park in Navi Mumbai. The event, attended by employees of the Reliance Group of Companies, features a star-studded lineup of performers. Exclusive videos from the event show TV stars entertaining the audience, including Rupali Ganguly, who appeared in her character’s look from “Anupamaa”, and Bharti Singh and her husband Haarsh Limbachiyaa performing a comic act. Siddharth Nigam and Sumedh Mudgalkar delivered energetic dance performances, while Sunil Grover, dressed as Rinku Bhabhi, had the audience in splits with his hilarious routine. Later, singer Sukhwinder Singh will enthral the crowd with his performance. Unfortunately, Anant Ambani missed the event to celebrate Salman Khan’s birthday in Jamnagar.uali
Unlimited Data for a Year: Get a ₹601 True 5G Gift Voucher from Reliance Jio and Enjoy Free Local Haryana Data
Reliance Jio has introduced the “True 5G Gift Voucher” in Haryana, offering free unlimited data for one year with a ₹601 voucher. The voucher can be purchased online and is redeemable for 12 months, starting from the date of activation. With this voucher, users will get access to Jio’s True 5G network, which promises faster speeds and a better user experience.
The True 5G Gift Voucher is a unique offer that allows users to enjoy unlimited data without any FUP (Fair Usage Policy) or speed restrictions. This means users can consume data without worrying about their daily data limits or experiencing speed throttling.
To avail this offer, users need to purchase the voucher online and complete the necessary formalities, such as verification and activation. The voucher can be used with Jio’s True 5G-enabled devices, including 5G SIMs and compatible phones.
Overall, the Reliance Jio True 5G Gift Voucher is a unique offer that provides users with free unlimited data for one year, making it an attractive proposition for those who consume a significant amount of data daily.
Reliance Foundation scholarships have consistently favored UP, with the state occupying the second spot in terms of securing these awards.
The Reliance Foundation has announced the results of its 2024-25 scholarship program, with Uttar Pradesh being the second-highest recipient with 628 undergraduate scholars. The program aims to nurture young talent and empower them to shape India’s future. Over 100,000 first-year undergraduate students from diverse backgrounds applied for the scholarships, which were selected based on their Class XII marks, aptitude test, and economic criteria. The 628 scholars from Uttar Pradesh will receive financial grants of Rs 2 lakh, mentorship, and opportunities for holistic development. The program, part of the Reliance Foundation’s 10-year commitment to provide 50,000 scholarships, has so far awarded 5,100 students. The scholars come from various backgrounds and academic disciplines, including 147 students with disabilities. The scholarships cover tuition fees, hostel expenses, and other educational costs, providing these bright students with the opportunity to focus on their studies without financial constraints.
Jio, a subsidiary of Reliance, expresses reservations about India’s proposed OTT regulation framework.
Reliance Jio, India’s largest telecom service provider, has joined several other prominent companies in opposing the proposed OTT regulation in the country. The company argues that OTT content services, such as Netflix and Amazon, should not be brought under the authorization of the Indian Telecommunications Act, 2023, as proposed by the Telecom Regulatory Authority of India (TRAI). Jio believes that OTT services are already regulated under the Information Technology Act, 2000, and Rules in India, and that they operate differently than Distribution Platform Operators (DPOs), which provide broadcasting services through dedicated networks and infrastructure. The company’s stance is significant, as it has recently merged with Walt Disney and Viacom 18, and is seen as actively opposing some government moves in recent times. The OTT video market in India is expected to generate $4.08 billion in revenue in 2024 and grow at a CAGR of 7.73% from 2024 to 2029. Jio’s main competitor, Bharti Airtel Ltd, has advocated for bringing OTTs under the authorization framework, but Jio and other companies disagree and argue that OTT services should not be regulated as telecom operators.
Exclusive: Indian TV personalities Rupali Ganguly, Bharti Singh, and Sunil Grover are set to participate in Family Day at Reliance Corporate Park in Navi Mumbai.
Reliance Group, led by Mukesh Ambani, is organizing a Family Day celebration at the Reliance Corporate Park in Navi Mumbai on December 28. The event will feature a celebrity guest list, which includes Rupali Ganguly, Bharti Singh, Sunil Grover, Sukhwinder Singh, and Marathi actor Subodh Bhave. The event will be divided into two slots, with the first starting at 11 am and the second at 6 pm. Sukhwinder Singh will perform on stage, entertaining the company’s employees. Rupali Ganguly has been in the news for her personal life issues, while Bharti Singh is set to host Laughter Cheaks 2 and Sunil Grover was last seen in The Great Indian Kapil Show Season 2. The event is a treat for the employees of Reliance, with the Ambanis going all out to make it a memorable experience.
Mukesh Ambani’s Reliance ups the ante, acquiring an 85-crore-dollar stake in this US-based company, which specialises in…
Reliance Industries is investing $10 million to acquire 45% stake in Health Alliance Group Inc., a US-based company, through its subsidiary Reliance Digital Health Limited (RDHL). The investment aims to develop a virtual diagnostics and care platform that will bring affordable healthcare access to the masses. The deal, subject to close by 2024, will allow RDHL to commercially launch its services in India, focusing on underserved communities. The partnership is part of Reliance’s strategy to expand its presence in the healthcare and technology space, with a focus on innovation and social impact. The investment will also enable RDHL to develop advanced, cost-effective healthcare delivery models, making quality care more accessible to the public.
On National Consumer Day, Reliance Retail stalwartly commits to prioritizing consumer safety through its newly signed Consumer Safety Pledge.
Reliance Retail, the retail arm of Reliance Industries Ltd, signed the Consumer Safety Pledge on National Consumer Day to prioritize consumer safety. The pledge, developed by the Department of Consumer Affairs, aims to ensure products are safe for consumers. The event was attended by Consumer Affairs Minister Pralhad Joshi, Minister of State B L Verma, and Department Secretary Nidhi Khare. Reliance Retail committed to taking several actions, including eliminating unsafe products, collaborating with regulatory authorities, training sellers on safety standards, and enabling consumers to raise safety concerns through its channels, such as JioMart and Netmeds. The company will also utilize advanced technologies, including artificial intelligence, to track product safety and work with agencies like the Central Consumer Protection Authority. The signing of the pledge marks a significant step towards creating a safer environment for consumers and reinforces the importance of consumer rights and responsibilities.
Meet the biggest shareholder of Reliance Industries, and it’s not Mukesh Ambani or Nita Ambani – it’s actually…
According to India.com, the largest stakeholder in Reliance Industries is not Mukesh Ambani or Nita Ambani, but rather the Government of India. The government holds a significant 52.48% stake in the company, making it the largest shareholder. This is due to the fact that Reliance Industries was founded by Dhirubhai Ambani, Mukesh’s father, with the help of a government-backed loan in the 1950s. Over the years, the government has maintained its stake in the company through various means, including the sale of shares to institutional investors and the public. Despite Mukesh Ambani being the chairman and largest individual shareholder, the government’s stake remains the largest. This significant stake gives the government a significant amount of influence over the company’s decisions and operations.
Indian cinema’s A-listers touch down in Jamnagar to commemorate the 25th anniversary of Reliance’s flagship refinery.
The Jamnagar refinery, owned by Reliance, is celebrating 25 years of operations. The refinery, the largest in the world, was commissioned in 1999 with an installed capacity of 668,000 barrels per day. Today, it has a capacity of 1,240,000 barrels per day. To mark the occasion, a series of events are being held at the refinery complex, and several Bollywood star kids, including Sara Ali Khan, Ibrahim Saif Ali Khan, and Khushi Kapoor, have arrived in Jamnagar to participate. The refinery’s founder, late Dhirubhai Ambani, was born on December 28. The events are being held at the refinery complex, which is decorated for the occasion. The refinery’s 25th anniversary is a significant milestone, and the events are expected to be a grand celebration.
India-China diplomatic thaw reflected in Reliance’s collaborations with Shein and Hisense
Reliance Industries, an Indian conglomerate, has formed partnerships with Chinese companies, marking a shift in Indian policies towards Chinese investors. This move comes after a period of restrictions on Chinese investments in India, imposed as a response to security concerns and trade tensions. The new partnerships suggest a potential easing of bilateral economic relations between India and China, which had strained in recent years. This development is significant, as it indicates a willingness by India to engage with Chinese companies and pursue economic cooperation despite earlier tensions. The partnerships, which may lead to increased trade and investment between the two countries, are seen as a step towards improving overall relations. This move may also pave the way for other Indian companies to form ties with Chinese partners, promoting greater economic collaboration and cooperation between the two nations. The outcome may not be without its challenges, but it represents a significant step towards stabilizing and strengthening the India-China economic corridor.
Siemens Mobility Launches Innovative Tri-Mode Solution for UK Rail Network
Siemens Mobility has introduced advanced tri-mode trains in Germany, marking a breakthrough for British rail development. The trains combine overhead electric power and battery systems, allowing for uninterrupted operation and minimizing reliance on diesel. This innovation promises efficiency, sustainability, and seamless integration into existing infrastructure. The company has deployed 31 Mireo Plus B trains in Germany, with additional deliveries planned for Denmark by 2025. Siemens Mobility projects that this technology will save £3.5 billion and reduce CO2 emissions by 12 million tonnes over 35 years. The trains can be upgraded incrementally, reducing costs and avoiding disruptions to diesel services. This technology encourages gradual electrification and helps bridge infrastructure gaps efficiently, paving the way for greener, more reliable transportation systems across Europe.
Seize trading opportunities in Reliance, Bajaj Finance, Tech Mahindra, and Asian Paints through Investing.com India
According to the article from Investing.com India, there are potential trading opportunities in four stocks: Reliance Industries, Bajaj Finance, Tech Mahindra, and Asian Paints. The article provides technical analysis and trends to spot buying opportunities in these stocks.
Reliance Industries is expected to strengthen after a consolidation phase, as its stock price has formed a bullish engulfing pattern. This pattern suggests a potential upswing. Similarly, Bajaj Finance’s stock price is expected to rebound, as it has formed a bullish hammer pattern, which indicates a potential reversal.
Tech Mahindra’s stock price has been trending downwards, but it is expected to find support around a historical low and may rebound if it is successfully defended. Asian Paints’ stock price is expected to break out of its horizontal resistance, potentially leading to a new upleg.
The article recommends buying Reliance Industries, Bajaj Finance, and Asian Paints, while taking a cautious approach to Tech Mahindra. Traders are advised to monitor the stocks’ price movements closely and be prepared to adjust their positions accordingly.
TCS and Reliance’s investment proposals for Andhra Pradesh have been submitted to the State Investment Promotion Board for approval.
The Andhra Pradesh State Investment Promotion Committee (SIPC) met under the chairmanship of Chief Secretary Neerabh Kumar Prasad to discuss various proposals. The committee recommended the Tata Consultancy Services (TCS) facility in Visakhapatnam and Reliance Industries’ investment of ₹65,000 crore to the State Investment Promotion Board (SIPB) for approval. Prasad instructed the departments to monitor large-scale investments and employment-generating proposals through the Investment Tracker platform. The committee also discussed the development of Bhogapuram International Airport (BIA) and instructed the departments concerned to complete the construction works in the stipulated time. Prasad enquired about the measures to be taken by the Customs, Health Departments, Bureau of Immigration, and CISF. The meeting was attended by various officials, including Secretary (Industries & Commerce) N. Yuvaraj, APIIC VC & MD M. Abhishikth Kishore, and AP Economic Development Board C.M. CEO Saikanth Varma, among others.
Exhilarating experiences unfolded as 1000 children embarked on a day of non-stop excitement at Jio Presents Hamleys Wonderland, courtesy Reliance Foundation’s ESA Day.
Reliance Foundation hosted an ESA Day (Enable Support Alliance) at Jio Presents Hamleys Wonderland in Odisha, where over 1000 children had a “wonderful” day of fun and joy. The event aimed to bring happiness to the children and create lifelong memories. The day was filled with various activities and games, including play sessions, magic shows, and exciting rides. The event was designed to bring the community together and create a platform for children to develop social skills, make friends, and have a good time. The event also had a special emphasis on creating awareness about education, health, and environment-related issues. The children who attended the event had an incredible time, laughing and playing with their new friends. The event was a huge success, with children leaving with big smiles on their faces and wonderful memories to cherish.
Reliance Infrastructure to challenge ₹494 cr arbitral award, seeking to overturn the ET LegalWorld
Reliance Infrastructure Limited (RIL) has received an arbitral award from a three-member tribunal, which has ordered the company to pay Aravali Power Company Private Limited (APCPL) a sum of ₹494 crore, along with interest. The award is the result of a dispute related to a 2004 EPC Contract. The tribunal ruled in favor of APCPL by a 2:1 majority. RIL intends to challenge the award and is currently reviewing the decision with legal advice. The company aims to safeguard its interests by initiating an appeal against the award. This information was disclosed to the public through a filing with the Securities and Exchange Board of India (SEBI).
Two individuals are rewriting Anil Ambani’s fortunes by clearing his debts – a duo of experts behind the scenes, making a profound impact…
Meet Shubhada Khunte and Vinay Aggarwal, two unsung heroes who are quietly turning around the fortunes of Reliance Group’s founder, Anil Ambani. As bankers, they are working tirelessly to clear Reliance Group’s massive debt, which has been piling up for years. Despite the group’s debts of over ₹45,000 crore, Khunte and Aggarwal are leading a team of lenders who are working together to structure a comprehensive debt-repayment plan. Their efforts are expected to not only bring relief to Reliance Group’s creditors but also unlock new opportunities for the group’s businesses. Under their guidance, the lenders have agreed to convert some of the debt into equity, giving Reliance Group’s shareholders a chance to redeem their stakes. Their team’s work has been nothing short of remarkable, requiring intense negotiations and innovative structuring. If their plan succeeds, it would mark a significant turning point in Reliance Group’s fortunes, paving the way for a fresh start.
Mukesh Ambani’s boldest move yet: Reliance’s JioTag Go is now in India, taking on Apple AirTag with a more affordable, feature-packed alternative starting at just ₹…!
Reliance Jio has launched JioTag Go, a Bluetooth-enabled tracker that competes with Apple’s AirTag. JioTag Go is a more affordable and feature-rich alternative to the AirTag. It’s a small, lightweight device that can be attached to various items, such as keys, wallets, and pets, and uses Bluetooth 5.3 technology to send secure signals to Android devices. The device is powered by a replaceable battery that lasts up to a year and comes with a spare battery. It also features a built-in speaker, lanyard, and Unknown Tracker Alerts for added security. Unlike the AirTag, JioTag Go does not require a SIM card. The device is available in four colors and can be purchased for a special launch price of Rs 1,499, a 50% discount from its original price of Rs 2,999. JioTag Go is compatible with Android devices and uses Google’s Find My Device network to help users locate their misplaced items. With its affordable price and features, JioTag Go is a competitive offering in the market.
Should you strike gold with Reliance Industries right away? Analyze the investment potential.
The article discusses Reliance Industries, a conglomerate with diverse business interests, and whether it is a good investment opportunity at present. The company has seen a significant surge in its stock price, making it an attractive prospect for investors. However, the article emphasizes the importance of doing due diligence before investing, citing the company’s history of aggressive spending on new projects, leading to high capital expenditure and debt.
Despite this, the article highlights Reliance’s strong brand recognition, diversified portfolio, and increasing profitability in its retail and refinery businesses. The company’s retail business, in particular, has shown promising growth and has the potential to drive future growth. Additionally, the Indian government’s “Make in India” initiative is expected to benefit the company’s manufacturing and petrochemicals segments.
The article concludes that while Reliance Industries may not be a low-risk investment opportunity, it presents a good opportunity for long-term investors willing to take on moderate levels of risk. Investors should carefully evaluate the company’s financials, management team, and industry trends before making a decision.
Isha Ambani, daughter of Mukesh Ambani, is spearheading the initiative to introduce Shein, a global fashion e-commerce giant, to the Indian market. The brand specialises in offering a wide range of affordable and trendy products, catering to the diverse tastes of Indian consumers.
Isha Ambani, the daughter of billionaire Mukesh Ambani, is leading the effort to bring back Chinese fashion brand Shein to the Indian market. The Centre has given the green light for Shein’s return, provided it is sold by Reliance Retail, India’s largest retailer, on an indigenously developed e-commerce platform. Shein was banned in India in 2020 along with other Chinese apps due to national security concerns. However, Reliance Retail has ensured that Shein’s data practices are compliant with Indian regulations, and all operations and data will be locally controlled. The approval marks a shift in the government’s stance on foreign e-commerce platforms, especially those from China. Isha Ambani, who runs Reliance Retail, has been instrumental in the company’s exponential growth, opening 3,300 stores across the country in 2023. She has also been recognized as the ‘Icon of the Year’ at Harper’s Bazaar Women of the Year Awards 2024. The decision to bring back Shein is seen as a significant move, and it remains to be seen whether the brand can regain its former popularity in India.
L&T secures massive Rs 7,629 crore deal from Defence Ministry, strengthening ‘Aatmanirbhar Bharat’ initiative
Larsen & Toubro, a leading construction giant, has secured a significant order worth Rs 7629 crore from the Ministry of Defence. This deal is a major boost to the “Aatmanirbhar Bharat” initiative, which aims to promote self-reliance in the country. As per the contract, L&T will manufacture self-propelled tracked artillery guns for the Indian Army. The ministry announced the news on Friday, marking a significant milestone for the company and the Indian defence sector. This order is a testament to L&T’s capabilities and expertise in designing and manufacturing complex defence equipment. The self-propelled tracked artillery guns will be a vital addition to the Indian Army’s arsenal, enhancing its firepower and combat capabilities. The deal is expected to have a positive impact on the Indian defence industry, promoting indigenous production and self-reliance.
Fierce market volatility has hit India’s top 10 companies, with TCS and RIL leading the decline, as their market capitalization shrinks by a staggering Rs 1.27 lakh crore.
The top 10 most-valued companies in India lost a cumulative market value of Rs 17,572 crore (approximately $2.2 billion) on Friday. Tata Consultancy Services (TCS) and Reliance Industries were the biggest losers, with market valuations declining by Rs 36,759.77 crore and Rs 33,084.85 crore, respectively. TCS’ market capitalization now stands at Rs 15.08 lakh crore, while Reliance Industries’ stands at Rs 16.31 lakh crore. Other losers included State Bank of India, HDFC Bank, Infosys, Bharti Airtel, Hindustan Unilever, HCL Technologies, and ITC, with market capitalization falls ranging from Rs 4,640.44 crore to Rs 18,563.19 crore. The losses came as the Nifty recorded its worst week in months.
According to a document, Venezuela’s state-owned oil company PDVSA has resumed oil swaps in the United States with US authorization.
India’s Reliance Industries has resumed an oil swap with Venezuela’s state oil company PDVSA, despite US sanctions on Venezuela. The swap allows Reliance to import Venezuelan crude in exchange for refined products. This comes after the US granted Reliance an individual authorization to trade with Venezuela. India was Venezuela’s second-largest market for crude before the sanctions, but China has since become the main destination. Reliance plans to pay the balance of the crude purchases in cash. The deal could be affected by a possible change in the US sanctions regime, which has been in place since 2019. If the sanctions are relaxed, Venezuela’s oil exports to the US could be redirected to Asian destinations. The Venezuelan government has criticized the sanctions as “economic war” and claimed the country is resilient despite the measures. The situation is being closely watched by oil markets and analysts, who predict that if the US sanctions change, Venezuela’s oil exports could be redirected to Asia.
Reliance Foundation Chairperson Nita Ambani scours Angadi Heritage boutiques in Bangalore for fine sarees, Business Standard reports.
Nita Ambani, the Chairperson of Reliance Foundation, was spotted shopping for sarees at Angadi Heritage, a renowned boutique store in Bangalore. The incident was reported by Business Standard. Nita, who is a businesswoman and philanthropist, showed her traditional side as she browsed through a variety of sarees at the store. Angadi Heritage is a popular destination for fashion-conscious individuals, offering a wide range of traditional and contemporary sarees. The store is known for its exquisite designs, vibrant colors, and high-quality fabrics. Nita’s visit to the store reflects her appreciation for traditional Indian attire and her interest in international fashion. The Ambani family is well-known for their business acumen and philanthropic endeavors. As the Chairperson of Reliance Foundation, Nita has been instrumental in various charitable initiatives, making her visit to the store a significant representation of her multifaceted personality.
Noel Tata has ambitious plans for his prized brand, aiming to achieve a revenue of Rs 4 trillion by 2025, as he prepares to take on Mukesh Ambani and Aditya Birla.
Noel Tata, the chairman of Trent Ltd, has set a ambitious target of reaching Rs 40,000 crore (approximately $5.3 billion) in revenue by 2025 for his favorite brand, Westside. This plan is aimed at challenging the dominance of Mukesh Ambani’s Reliance Retail, Aditya Birla’s Future Group, and other major players in the Indian retail market. Westside is a popular department store chain in India, known for its affordable and trendy products. Noel Tata plans to achieve this target by expanding the brand’s presence across the country, increasing its online presence, and improving its supply chain and logistics. He also plans to introduce new products and services, such as e-commerce and digital payments, to stay ahead of the competition. With this plan, Westside aims to become one of the top three retailers in India, giving tough competition to the likes of Reliance Retail and Aditya Birla’s Future Group.
India’s Defence Public Sector Undertakings (PSUs) aim to export ₹2,100 crore (approximately $280 million) in FY 2024-25, reducing dependence on imports and promoting self-reliance in the country’s defense sector.
India’s defense public sector undertakings (DPSUs) have set ambitious export targets for the next fiscal year 2024-25, aiming to export military products worth Rs 2,100 crore, led by Hindustan Aeronautics Ltd (HAL) with a target of Rs 590 crore. This comes amid the country’s efforts to reduce its dependence on imports and strengthen strategic autonomy. The private sector contributed approximately Rs 15,000 crore to India’s total defense exports of Rs 21,083 crore in the previous year, while DPSUs accounted for Rs 6,000 crore. Bharat Dynamics Ltd, BEML Limited, and Bharat Electronics Ltd have set specific export targets of Rs 500 crore, Rs 440 crore, and Rs 120 crore, respectively. The shipbuilding PSUs, GRSE and GSL, have set targets of Rs 80 crore and Rs 85 crore. This shift towards self-reliance in the defense sector may help reduce India’s dependence on imports and position it as a global defense exporter, boosting economic growth and national security.
Transocean’s drillship to remain in India under a newly signed $111 million contract.
Reliance Industries Limited, an Indian oil company, has exercised an option to use the Dhirubhai Deepwater KG1 drillship for a four-well drilling program in India. This brings in $111 million to Transocean, the offshore drilling contractor. The estimated 270-day program will begin in direct continuation of the rig’s firm term with Reliance, which was agreed upon in September 2024 for a six-well drilling job. This new contract adds to the company’s backlog, expected to contribute approximately $123 million. The Dhirubhai Deepwater KG1 drillship is capable of operating in water depths of up to 12,000 feet and drilling depths of up to 35,000 feet. If all options are exercised, the rig could remain in India through the end of 2029.
Transocean extends $111M offshore drilling contract with Reliance Industries
Transocean (RIG) has secured a contract extension with Reliance Industries in India for its Dhirubhai Deepwater KG1 drillship. The program consists of a four-well option exercise and is estimated to last 270 days, starting immediately after the rig’s current firm term with Reliance. The contract is valued at approximately $111 million in backlog, excluding additional services.
The deal is a significant boost to Transocean’s backlog and revenue visibility, with an implied day rate of approximately $411,000 for the 270-day program. The continuous deployment also minimizes idle time and operational costs, optimizing the rig’s utilization.
This contract extension reflects the robust demand for ultra-deepwater drilling capabilities in the Indian Ocean region. The deal demonstrates Reliance’s commitment to offshore exploration and development activities, despite global market fluctuations. The Dhirubhai Deepwater KG1’s continued engagement in India’s waters aligns with the country’s efforts to reduce energy import dependency through increased domestic production.
Get ready to reap exclusive rewards with Reliance Trends’ limited-time discount offer!
Reliance Trends, India’s leading fashion destination, is announcing an exclusive discount offer for its End of Season Sale starting from December 12th, 2024. Customers can avail up to 70% discount on a wide range of products, including women’s, men’s, and kids’ wear, as well as fashion accessories. Reliance Trends has over 2000 stores across 1000 cities, making it India’s largest and fastest-growing fashion destination. The brand offers a unique shopping experience with its own brands, including AVAASA, RIO, FIG, Fusion, Network, Netplay, DNMX, and Performax, which cater to diverse customer needs. With its strong network and affordable prices, Reliance Trends aims to democratize fashion in India and provide high-value shopping experiences to its customers.
Vedanta’s dividend decision, Reliance’s massive acquisition, and more, in today’s market news.
The provided content covers various business-related updates in India. Several companies, including Vedanta Limited, Reliance Industries, Lupin, and others, have made major announcements regarding their financial status, strategic acquisitions, contracts, and fundraising plans.
Vedanta Limited has called a board meeting to discuss its fourth interim dividend for the financial year 2024-25.
Reliance Industries has purchased a majority stake in Mumbai Industrial Developer for ₹16.28 billion (approximately USD 192 million)
Lupin has broadened its presence in the pharmaceutical market with the acquisition of three diabetes-related trademarks worth approximately USD 2-3 million.
Rites has bagged a prestigious border infrastructure project worth over ₹297 crore ( approximately USD 37 million ).
Other highlights include Aurobindo Pharma facing ₹10.48 crore as GST demand, Aeroflex Industries planning to raise up to ₹400 crores, Afcons securing ₹1,007 crorE Bhopal Metro Rail Contract, HBL Power Systems winning €1,522.3 crores train safety order. These updates demonstrate growing companies with diverse business developments and are expected to increase transparency
Reliance Brands will discontinue its partnerships with Replay and G-Star RAW.
Reliance Brands is exiting its partnerships with Italian denim brand Replay and Dutch clothing brand G-Star RAW due to weak demand for discretionary products. The company has started closing stores of these brands and replacing them with its other international labels. G-Star has been sold online, while Replay stores will be closed soon. Reliance acquired the distribution rights for both brands in 2017 and 2018, respectively. The decision is attributed to the brands losing relevance in the Indian market, where young consumers are reducing non-essential spending due to economic slowdown, high inflation, and interest rates. Despite the challenges, India remains an attractive market for apparel brands, with sales growth of 40-60% in the first quarter post-pandemic, but this trend has reversed in the past 6-8 quarters. Reliance plans to focus on its other brands, while G-Star may partner with another retailer to enter the Indian market.
Roseville is expected to be home to the nation’s largest silicon carbide semiconductor factory, thanks to a proposed deal between the city and the Biden administration.
Bosch, a German-based company, is proposing a deal with the US government to build the nation’s largest Silicon Carbide (SiC) semiconductor factory in Roseville, California. The deal, which is worth $225 million in chip grants, is a result of the US government’s efforts to increase domestic chip production and reduce reliance on foreign suppliers. The new factory is expected to create 1,700 jobs in Roseville and bring significant economic growth to the area. Senator Alex Padilla praised the deal, stating that it will boost California’s semiconductor industry and create new opportunities for American workers.
The deal is part of the CHIPS Act, a federal law aimed at supporting the domestic semiconductor industry. The CHIPS Act provides funding for chip manufacturers to build new facilities and expand existing ones. The Bosch deal is a major investment in the US semiconductor industry and is expected to have a significant impact on the country’s chip production capabilities. The factory is expected to produce advanced SiC semiconductors, which are used in a variety of applications, including electric vehicles, renewable energy systems, and medical devices.
The Reliance group is partnering with the Government of Maharashtra to enhance Early Childhood Care and Education (ECCE) initiatives.
Reliance Foundation launched a network of 24 Anganwadi Learning Labs in Maharashtra to strengthen early childhood care and education (ECCE) in the state. The initiative is part of a strategic partnership with the Government of Maharashtra to improve the learning and development of young children. The Anganwadi Learning Labs will serve as demonstration, training, and innovation spaces for frontline Anganwadi workers and parents. The labs will provide capacity building on play-based learning techniques, age-appropriate books and digital infrastructure, and child-friendly WASH facilities. The goal is to enhance children’s school readiness, numeracy, and literacy skills, and help them reach their full potential. The initiative aims to benefit over 10,000 children across Maharashtra, with rigorous training programs and continuous support. The launch event was attended by over 250 parents, children, and ICDS officials, who shared their aspirations and perspectives for the center.
Gautam Adani’s Ambuja Cements inaugurates a 200-megawatt solar power plant in Khavda, Gujarat, marking a major milestone in India’s clean energy sector.
Gautam Adani-led Ambuja Cements has commissioned a 200 MW solar power plant in Khavda, Gujarat, marking a significant milestone in India’s clean energy journey. The project was set up at a cost of around Rs 900 crore and is expected to reduce carbon emissions by over 400,000 tons annually. The solar plant is designed to generate enough electricity to power over 30,000 homes. The project is also expected to create jobs and stimulate local economic growth. This move aligns with the Indian government’s vision to increase the share of renewable energy in the country’s overall power output. Ambuja Cements has also been at the forefront of sustainable practices, with several initiatives in place to reduce its environmental footprint. The company has set a target to reduce its carbon footprint by 20% by 2030. The commissioning of this solar plant is a significant step towards achieving this goal. This development is also expected to have a positive impact on the environment, as it will reduce the country’s reliance on fossil fuels and lower greenhouse gas emissions.
Reliance Industries Names Ira Bandra as Group President for HR and Talent, Effective December 14, 2024
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Reliance Industries has appointed Ira Bandra as Group President for HR & Talent. Michael Dell, the founder of Dell, reflects on his 40-year journey and adapting the company to an AI-driven boom. Cowasjee Readymoney, a pioneering financial expert, is featured in a tribute to his legacy of philanthropy in Mumbai and beyond.
In other news, a record 25 directors were ousted from Dish TV’s board in just three years as unhappy shareholders, who own nearly 96%, rejected new appointments. This heated corporate governance crisis has raised concerns about company operations and shareholder value. These stories provide insight into the latest developments in the business world, including mergers, acquisitions, financial reports, and leadership and operational shifts. Whether you’re an investor, business professional, or business enthusiast, this coverage aims to keep you informed about the dynamics of various industries, helping you make informed decisions in a rapidly changing business environment.
The Nifty closed below 24,600, with Reliance and L&T leading the decline, according to CNBCTV18.
The Indian stock market saw a decline at the close of trading, with the Nifty ending below the 24,600 level. The benchmark index, Nifty 50, fell by 0.35% to close at 24,583.95. The market witnessed a broad-based sell-off, with most sectors, including IT, auto, and banking, witnessing significant declines.
Reliance Industries and Larsen & Toubro (L&T) were among the top decliners, with both stocks falling by over 1.5%. Other blue-chip stocks like Tata Consultancy Services, Infosys, and ICICI Bank also saw significant losses.
The broader market indices, such as the Nifty Midcap 100 and Nifty Smallcap 100, fell by 0.75% and 1.35%, respectively. The fall in the market was largely attributed to profit-booking and a lack of major positive triggers.
In the currency market, the Indian rupee weakened against the US dollar, closing at 74.47 compared to the previous close of 74.38. The yield on the 10-year government bond also rose to 6.55%, indicating a cautious market sentiment.
From production to distribution to trade… This new subsidiary of Reliance Group, founded by Anil Ambani, is born – What’s its purpose?
Reliance Group’s Anil Ambani-owned firm,TextView, has formed a new subsidiary, “Manufacture, Buy, Sell”. The purpose of this subsidiary is not explicitly stated, but it is speculated to be a digital services company that will focus on providing B2B and B2C solutions for the manufacturing, procurement, and sales of goods and services. The new subsidiary will leverage Reliance’s existing strengths in the IT sector to develop innovative digital solutions for the industry, including supply chain management, logistics, and e-commerce. The move is seen as a strategic expansion of Reliance’s presence in the digital space and a step towards making the company a major player in the digital services sector. The new subsidiary is expected to create new job opportunities and boost the company’s revenue. With this new move, Reliance is diversifying its offerings and increasing its reach in the digital economy.
Dhirubhai Ambani’s entrepreneurial journey began in a humble single-room office, where he started Reliance Industries from scratch, with a single table and three chairs.
Mukesh Ambani is the driving force behind Reliance Industries’ success, serving as the Chairman and Managing Director of Reliance Industries Limited (RIL). Under his leadership, the company has transformed into one of India’s largest and most diversified conglomerates. RIL’s businesses span various sectors, including telecommunications, retail, energy, and petrochemicals. Ambani’s vision and strategic direction have driven the company’s growth, innovation, and expansion. His leadership has enabled RIL to invest in cutting-edge technology, ousting competitors in the market. For instance, the company’s subsidiary Jio disrupted the telecommunications industry by offering affordable 4G services, gaining a massive customer base of over 300 million subscribers. Reliance Retail, another significant business, has expanded its reach to over 7,000 stores across India. Ambani’s strategic decisions have made Reliance Industries a household name in India and a dominant player in the global market.
Addverb, a Reliance-backed automation firm, seeks to reach a $100 million topline by the end of FY25.
Addverb, an Indian robotics firm backed by Reliance Group, aims to achieve revenue of $100 million in FY25 and $1 billion in the next five years. The company has been in the business of industrial robotics and warehouse automation and has customers such as Flipkart, ITC, and Unilever. Addverb has recently entered the humanoid robot market and is developing robots that can navigate complex environments using self-learning algorithms. The company is working on a humanoid robot with 39 DOF and plans to develop one with 54 DOF in the future. Addverb is also developing an AI model to train the robot on general tasks. The company is working closely with partners such as Reliance, Intel, Nvidia, and Texas Instruments to build humanoids. Addverb will utilize Jio AI Platform and 5G services and deploy it across Reliance’s businesses. The company is building humanoids at its BotValley facility in Noida and plans to produce equipment at scale at its second facility, BotVerse.
Reliance Industries in discussions for a $3 billion loan to fuel its growth ambitions.
Reliance Industries, one of India’s largest privately-held companies, is reportedly in talks with banks to secure a USD 3 billion loan to support its growth plans. The loan is said to be a syndicated facility, with multiple lenders participating. The company intends to use the funds to finance its expansion plans across various sectors, including its oil-to-chemical (O2C) segment, retail business, and digital initiatives.
Reliance Industries has been aggressively expanding its retail business, particularly in the food and beverages segment, and has made significant investments in its O2C segment. The company has also been driving growth through its digital offerings, including its Jio Platforms business.
The company’s growth plans are fueled by its vision to transform itself into a technology and energy conglomerate. To achieve this, Reliance Industries is investing heavily in digital technologies, including artificial intelligence, machine learning, and data analytics.
With a strong balance sheet and a proven track record of execution, Reliance Industries is well-positioned to secure the loan and deliver on its growth plans. The loan is expected to be a significant boost for the company, enabling it to accelerate its expansion and growth initiatives.
Mukesh Ambani’s Reliance is dispatching a team to a southern state to investigate…
Tripura’s Chief Minister Manik Saha has invited Reliance Industries Chairman Mukesh Ambani to invest in the state, which has 21 species of bamboo and potential for tourism. Saha met Ambani in Mumbai and discussed investment possibilities, and Ambani agreed to send a team to explore opportunities. The state has already inked a deal with Tata Group to develop 19 industrial training institutes, a Rs 700 crore investment over the next few years. Saha has also written to Infosys to join Tripura’s growth journey. Additionally, talks with Airtel have led to an agreement to set up a data center in Agartala. The Chief Minister claims that Tripura has an “investment-friendly atmosphere” and is the only state free from terrorism. He believes that the state’s unique resources and potential for growth make it an attractive destination for investors. The Chief Minister’s efforts aim to bring in more investments and boost the state’s economy.
India’s top 10 most-valued companies see market value plummet by Rs 29,000 crore, led by declines at RIL and HUL.
The market capitalization (market cap) of several Indian companies has seen significant changes. HDFC Bank Ltd. saw its market cap increase by Rs 8,925 crore to Rs 14.2 lakh crore. Larsen & Toubro Ltd. gained Rs 12,106 crore, taking its market cap to Rs 5.43 lakh crore. Infosys Ltd. added Rs 1,889 crore to its market cap, which now stands at Rs 8 lakh crore. Bharti Airtel Ltd. saw its market cap rise by Rs 3,501 crore to Rs 9.13 lakh crore. Despite these changes, Reliance Industries Ltd. (RIL) remained the most-valued firm, followed by Tata Consultancy Services (TCS), HDFC Bank, Airtel, ICICI Bank, Infosys, State Bank of India (SBI), Hindustan Unilever Ltd. (HUL), ITC, and HCL Technologies Ltd.
Nita Ambani, Chairperson of Reliance Foundation, received the prestigious Outstanding Contribution to Brand India award.
Nita Ambani, the founder and chairperson of Reliance Foundation, was recognized for her contributions to India’s global image at the CNBC TV18 India Business Leadership Awards 2024. She received the “Outstanding Contribution to Brand India” award, acknowledging her efforts to shape India’s global identity. Nita Ambani’s contributions span education, culture, sports, and philanthropy, making her a deserving recipient of this honor. She has founded the Nita Mukesh Ambani Cultural Centre (NMACC), which has hosted over 6,000 artists and attracted over 2 million visitors, solidifying its position among the world’s top cultural spaces. She is also the chairperson of the Dhirubhai Ambani International School, which has been ranked 11th among the top International Baccalaureate (IB) schools worldwide. Nita Ambani’s speech highlighted her vision for India’s future, emphasizing the importance of education, innovation, and excellence, and encouraged women and young people to work together to build a prosperous and inclusive India.
India’s top 10 richest companies: Reliance Industries leads, followed by LIC and SBI.
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According to a recent report, India’s top 10 richest companies are:
1. Reliance Industries – $128.1 billion
2. LIC (Life Insurance Corporation of India) – $122.2 billion
3. State Bank of India – $114.8 billion
4. ICICI Bank – $93.6 billion
5. Tata Steel – $83 billion
6. Hindustan Unilever – $76.4 billion
7. ITC – $74.4 billion
8. Tech Mahindra – $63.8 billion
9. Bajaj Finance – $62.9 billion
10. HDFC Standard Life Insurance Company – $61.9 billion
These companies are dominated by the sectors of banking, insurance, and consumer goods. Reliance Industries, owned by the Ambani family, tops the list, followed closely by LIC, India’s largest life insurance provider. State Bank of India, India’s largest bank, comes in third. The top 10 companies together account for over 20% of India’s total market capitalization. These companies have a significant impact on India’s economy, employing millions of people and generating significant revenue.
The Indian market capitalization soars to a new high of ₹2.03 lakh crores, led by the strong performances of TCS, HDFC Bank, and Infosys, while Bharti Airtel’s shares experience a decline.
Six out of the top 10 most-valued Indian companies saw a combined market valuation increase of Rs. 2,03,116.81 crore, indicating an optimistic sentiment in the Indian stock market. The BSE Sensex rose 1,906.33 points (2.38%) and the NSE Nifty advanced 546.7 points (2.26%) last week. TCS and HDFC Bank emerged as the biggest gainers, with their market capitalization increasing by Rs. 62,574.82 crore and Rs. 45,338.17 crore, respectively. Reliance Industries, Infosys, State Bank of India, and ICICI Bank also saw significant growth. On the other hand, Bharti Airtel, ITC, Hindustan Unilever, and LIC saw a decline in their valuation. The Indian rupee rose marginally against the US dollar, helped by a weaker dollar and the RBI’s decision to lower the cash reserve ratio to improve liquidity. Overall, Reliance Industries remained the most valuable company, followed by TCS, HDFC Bank, and others.
The retail tycoon Mukesh Ambani and his daughter Isha Ambani are behind the ownership of seven well-known brands, featuring online platform AJIO and…
Isha Ambani, daughter of billionaire Mukesh Ambani, is a successful businesswoman who has led Reliance Retail, India’s largest retailer, into a new era. Under her leadership, the company has brought top global brands to India, including Versace, Amiri, Armani, and Balenciaga. Isha Ambani also owns seven popular brands, including:
* Tira Beauty: a beauty retail platform that offers local and international brands
* Hamleys: a UK-based toy retailer acquired by Reliance Brands Limited in 2019
* AJIO: an e-commerce platform that has generated over $2 billion in annual gross merchandise value
* Cover Story: India’s first fashion brand, bringing international designer wear to the Indian market
* Freshpik: a contemporary food and grocery destination store
* 7-Eleven: a convenience store chain that was brought to India in 2021
* Netmeds: an online pharmacy store that offers quality medicines and wellness products
These brands have helped Reliance Retail expand its reach and provide customers with a wide range of products and services. Isha Ambani’s success in the business space has proven her mettle as a successful businesswoman and has contributed to Reliance Retail’s growth and dominance in the Indian retail industry.
Meet the power behind Reliance’s throne: the largest shareholder who holds the key to every Ambani family decision, shaping the company’s future.
The largest shareholder of Reliance Industries, the empire built by business tycoon Mukesh Ambani, is not him but his mother, Kokilaben Ambani. She has been playing a crucial role in shaping the company’s direction and decision-making process, often acting as the final arbiter in matters related to major business deals. Kokilaben’s influence is so significant that even Mukesh, the chairman and largest individual shareholder, consults her on important decisions. Her exceptional business acumen and financial expertise have been instrumental in guiding the company’s growth. Having started as a homemaker, she gradually took charge of managing the family’s finances and made wise investments, which enabled the family to amass a significant fortune. As a result, Kokilaben has become an integral part of Reliance’s decision-making process, often making key decisions alongside her son. Her influence extends beyond her son’s business ventures, having a say in the company’s overall direction, employee decisions, and even the construction of Antilia, the Ambani’s iconic Mumbai residence.
Reliance Industries Ltd. holds its position at the top of Fortune India 500 list, according to a report by Exchange4Media.
Reliance Industries (RIL) has once again topped the Fortune India 500 list, reinforcing its position as the country’s largest and most successful company. The list ranks India’s largest companies based on their revenue, with RIL holding the top spot for the fifth consecutive year. The company’s revenue has grown significantly over the past year, with a 15% increase to reach Rs 5.62 lakh crore. RIL’s dominance in the list is attributed to its diversified business portfolio, which includes oil and gas, petrochemicals, textiles, and retail segments. The company’s performance has been driven by strong growth in its retail arm, Jio, which has become the largest mobile network operator in the country. Other notable companies on the list include Tata Group, Hindustan Unilever, and Bharat Petroleum, which took the second, third, and fourth spots respectively. The Fortune India 500 list is a benchmark of corporate success and provides a snapshot of the Indian economy’s growth and development.
Tripura Chief Minister Manik Saha makes a plea to Reliance Industries to become a key player in the state’s economic growth narrative.
Tripura Chief Minister Manik Saha recently met with Mukesh Ambani, the chairman and managing director of Reliance Industries, in Mumbai. Saha expressed his desire for Reliance Industries to join Tripura’s “growth story” and invest in the state’s economy. The Chief Minister briefed Ambani on the state’s economic policies, investment opportunities, and potential sectors for collaboration, including petrochemicals, fertilizers, and tourism. Saha highlighted the state’s favorable business environment, skilled workforce, and proximity to international trade routes as advantages for investors. Ambani was impressed by Saha’s enthusiasm and invited him to Reliance Industries’ headquarters to explore further investment opportunities. The meeting is seen as a significant step towards attracting investments and promoting economic growth in Tripura. Saha’s visit to Mumbai aimed to showcase the state’s growth potential and invite key industrial players like Reliance Industries to partner with the state in its development journey.
Siemens achieves a 95% reduction in data volume through efficient data reduction strategies.
Siemens Digital Industries Software partnered with Cribl Inc. to improve its data management and security operations. The company used Cribl’s data reduction and operational visibility expertise to adapt to the expanding demands of its data management and security operations. Siemens was able to reduce its data volume by up to 95% using Cribl Stream, allowing for more efficient use of tools such as Splunk. This process cut costs and improved the quality and accessibility of critical data. The partnership also enabled Siemens to customize data formats, making them more usable for analysts and improving the efficiency of their security information and event management workflows. The result is enhanced dashboards, reduced reliance on multiple tools, and streamlined operations, allowing analysts to focus on critical insights without distractions. In a video interview, Scott Schwartz, senior cloud infrastructure engineer at Siemens, and Pedro Borges, senior security engineer at Siemens, discussed the benefits of the partnership and the importance of blending innovation with strategy and teamwork in rapidly evolving fields.
Despite Reliance Retail’s acquisition, Zivame continues to grapple with finding a precise brand fit.
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Zivame was founded in 2011 by Richa Kar, one of the first online players in India to provide women with the opportunity to buy lingerie from the comfort of their own homes, without the need for awkward conversations with brick-and-mortar shopkeepers. However, the company’s business model underwent a significant shift in 2015. Zivame transitioned from being a marketplace for all types of lingerie to a “brand model”, focusing on building its own private label. This pivot marked a major change for the company, which had previously relied on selling products from various brands. The new strategy aimed to establish Zivame as a prominent brand in the Indian lingerie market, rather than simply a platform for third-party sellers. This shift allowed the company to focus on product design, quality, and customer service, while also increasing its control over the products it offered. The move was likely a strategic one to stay competitive in an increasingly crowded market and to build a strong brand identity.
Reliance Industries, India’s largest conglomerate, has acquired its first Embraer E175 aircraft.
Reliance Industries, an Indian industrial conglomerate, has taken delivery of its first Embraer E175 aircraft, registration VT-JMR. The new aircraft was delivered on November 25, 2022, after being ferried from São José dos Campos, Brazil to Delhi, India with several stops along the way. The aircraft, originally registered as PR-EHV, has not yet begun operating under its Indian registration. This latest addition to Reliance Industries’ fleet follows the induction of a Boeing 737-9(BBJ) earlier this year. The company operates a diverse range of aircraft, including Airbus, Boeing, and bizjet models, as well as various helicopters. With two Air Operator’s Certificates, Reliance Industries operates its fleet through two subsidiaries, Reliance Commercial Dealers and Reliance Transport & Travels.
Jio Financial and Tata Power figure among the top 10 large-cap stocks acquired by mutual funds in September.
According to a report by The Economic Times, Jio Financial and Tata Power were among the top 10 large-cap stocks bought by mutual funds in September 2022. Mutual funds were net buyers of these stocks, indicating that they have a positive outlook on their future performance. Jio Financial, the financial services arm of Reliance Industries, saw a net inflow of Rs 2,541 crore (approximately $335 million USD) from mutual funds, making it the third most-bought large-cap stock by funds in September. Tata Power, India’s largest power utility company, received a net inflow of Rs 1,444 crore (approximately $187 million USD). Other top buys included Maruti Suzuki, Hindustan Unilever, and ITC. The move by mutual funds to invest in these large-cap stocks suggests that they expect these companies to perform well in the coming quarters, driven by factors such as their market share, financials, and future growth prospects.
The PM Internship Scheme has seen a remarkable response, with over 90,800 opportunities posted by 193 firms on the platform, with major companies like Maruti, L&T, and Reliance taking part.
The Prime Minister’s Internship Scheme has officially opened for registration, offering over 90,800 internship opportunities from 193 firms, including top companies like Maruti, L&T, and Reliance. The scheme aims to provide internships to undergraduate and postgraduate students to gain hands-on experience in various industries. To be eligible, candidates must be pursuing a minimum three-year degree program and have completed 18 years of age. The registration process is online, and candidates can apply on the official website. The selected interns will have the opportunity to work in a variety of industries, including IT, finance, and manufacturing. The duration of the internship will vary, typically ranging from 2-6 months. The scheme is open to all Indian citizens, including those in rural and urban areas. The Programme is an initiative of the Government of India to promote skill development, entrepreneurship, and employment generation. Key participating firms like Maruti, L&T, and Reliance have showcased their commitment to nurturing talent and preparing India’s future leaders.