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Green boost to Gujarat: Reliance Industries to invest Rs 5.95 lakh crore in green energy, other projects in state

The projects by RIL is expected to create 10 lakh employment opportunities in the State Gandhinagar: In a major boost to Prime Minister Narendra Modi’s vision to reduce India’s carbon emissions, the Reliance Industries Limited signed an MoU on Thursday with the Government of Gujarat for a total investment of Rs 5.955 lakh crore towards...

Reliance enters into rice deal with Karnataka farmers

Reliance Retail Limited, an arm of Mukesh Ambani’s Reliance Industries Limited (RIL), has entered into a deal with the farmers of Sindhanur taluk in Raichur district of Karnataka for the procurement of 1,000 quintals of Sona Masoori—a variety of rice. The deal is being hailed as the first such transaction between a corporate and farmers...

Sensex tanks 1,066 points over weak global cues

Investors in India on Thursday lost over Rs 2.7 lakh crore within a few hours as the Sensex tanked by over 1,000 points. The downfall almost wiped out most the gains achieved during the past 10 days when the markets witnessed consecutive gains. The decline in the stock market is attributed to the selling pressure...

KKR to invest Rs 5,550 cr in Reliance Retail

Mukesh Ambani-owned Reliance Industries Limited (RIL) on Wednesday informed that global investment firm KKR is all set to invest Rs 5,550 crore in Reliance Retail Ventures Limited (RRVL). Notably, RRVL is a subsidiary of Reliance Industries. According to Reliance, KKR’s fresh investment values Reliance Retail at a pre-money equity value of Rs 4.21 lakh crore....

Mukesh Ambani now world’s fifth-richest

Reliance Industries chairman Mukesh Ambani has become the fifth richest person in the world.  Mukesh Ambani has pipped top American investor Warren Buffett to occupy the fifth spot. The fifth ranking is as per the Billionaires List by Forbes magazine. As per the real-time ranking by Forbes, Mukesh Ambani’s wealth has been estimated at Rs...

Google to invest Rs 33,737 cr in Jio Platforms: Mukesh Ambani

Google will invest Rs 33,737 crore for a 7.7 per cent stake in Jio Platforms, Reliance Industries chairman Mukesh Ambani said at the group’s 43rd, and first-ever virtual annual general meeting, held on Wednesday afternoon. Jio Platforms is the digital services arm of Reliance Industries, which houses telecom company Reliance Jio Infocomm. This is the...

Mukesh Ambani now world’s sixth richest, pips Elon Musk

India’s richest man Mukesh Ambani surged past Silicon Valley tech titan Elon Musk as well as Alphabet co-founders Sergey Brin and Larry Page to become the world’s sixth-richest person. The chairman of Reliance Industries Limited, whose wealth surpassed Warren Buffett’s last week, is now worth $72.4 billion, according to the Bloomberg Billionaires Index....

Mukesh Ambani now richer than Warren Buffet after the latter donates $2.9 billion to charity

Mukesh Ambani has had a rollercoaster 2020, cutting a string of deals for his digital business, undergoing wild swings in his wealth and having his brother’s finances laid bare for the world to see. Now he can add another chapter—eclipsing the fortune of Warren Buffett. The chairman of Reliance Industries Ltd. is now worth $68.3...

As Reliance turns net debt-free, Mukesh Ambani says “fulfilled” promise to shareholders

Reliance Industries Limited (RIL) Chairman Mukesh Ambani on Friday announced that the company is finally net debt-free, adding that he has “fulfilled” his promise to shareholders. “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” Ambani said in a press statement issued...

Equity major KKR to invest Rs 11,367 cr in Reliance Jio

Reliance Industries on Friday announced the sale of a 2.32 per cent stake in its digital unit to US private equity giant KKR for Rs 11,367 crore, the fifth deal in four weeks that will inject a combined Rs 78,562 crore in the oil-to-telecom conglomerate to help it pare debt. “This transaction values Jio Platforms...

As Facebook invests Rs 43,574 crore in Reliance Jio, Zuckerberg & Ambani explains the ‘why’ of the deal

India is in the middle of “major digital transformation” and Facebook is committed to “opening commerce opportunities for people across the country”, founder Mark Zuckerberg said Wednesday, a day after the social media giant invested $5.7 billion (Rs 43,574) in Reliance Industries Ltd-owned mobile telecom company Reliance Jio. Zuckerberg (valued at...

Markets end in green as financial stocks, Reliance goes up

Domestic stock markets soared more than 6 per cent, in a late-afternoon surge, as India began a 21-day countrywide lockdown to curb the spread of the deadly coronavirus pandemic and on expectations that the government would unveil a stimulus package soon to cushion the economy from the economic fall-out of coronavirus. The Sensex ended 1,861.75...