Future belongs to organizations that can lead the digital revolution: Mukesh Ambani

For Reliance Industries’ Chairman, Mukesh Ambani future belongs to organizations that will lead and leverage the digital revolution. In his address to shareholders in the company’s annual report released on Wednesday, Ambani said, “As technology becomes a driving force in all businesses and facets of life, the future belongs to organizations that can lead and … Read more

Reliance, Saudi Aramco discuss cash and share stake deal

Billionaire Mukesh Ambani’s Reliance Industries is reported to have held talks with Saudi Aramco on a cash and share deal for sale of a 20 per cent stake in its oil refining and petrochemical arm. Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the oil-to-chemicals (O2C) … Read more

Reliance Retail’s private labels revolution spooks global consumer goods makers

Inside supermarkets of Reliance Retail, run by India’s richest man, Mukesh Ambani, little-known food and home cleaning brands take pride of place on shelves alongside global labels owned by giants Nestle, Unilever and Coca-Cola. Products like Snac tac noodles and Yeah! colas are Reliance’s private label brands – and billionaire Ambani’s not-so-secret weapons as he … Read more

Competition in e-grocery heats up with Tata’s entry

The entry of conglomerates such as Tata Sons Ltd and Reliance Retail Ltd and e-commerce majors sharpening focus on India’s burgeoning e-grocery sector is creating a multi-player field catering to different customer segments with unique business models beyond the large cities. The nationwide lockdown and the associated tailwinds led the gross merchandise value of the … Read more

Delhi HC orders status quo on Future-Reliance deal

In a relief to Amazon, the Delhi high court on Tuesday said it is of the “clear view” that the emergency award (EA) by the Singapore International Arbitration Centre (SIAC) is enforceable in India. It has asked Future Group to not proceed with the Rs 24,731-crore deal with Reliance Industries (RIL) till it pronounces a … Read more

Shares of Reliance Industries plunge 6% on disclosure concerns

Shares of Mukesh Ambani-led Reliance Industries (RIL) plunged nearly six per cent — the most since November 2 — after analysts raised concerns over disclosure standards. The country’s most-valuable firm on Friday reported record quarterly profit for the quarter ended December 31, but didn’t disclose gross refining margins (GRM), a key metric to analyse its … Read more

Reliance Industries spins off oil-to-chemical business into new unit

Billionaire Mukesh Ambani’s Reliance Industries Ltd has completed spin-off of the firm’s oil-to-chemical business into a new unit that will help it pursue growth opportunities with strategic partnerships, the company has said. The oil-to-chemical (O2C) business unit holds Reliance’s oil refinery and petrochemical assets and retail fuel business but not upstream oil and gas producing … Read more

Ril Future deal: Amazon gets stay on RIL-Future deal

Kishore Biyani’s deal to sell off Future Group assets to Mukesh Ambani’s Reliance Industries for Rs 24,713 crore is now on hold. The Singapore International Arbitration Centre (SIAC) has granted an interim relief in the issue to the Jeff Bezosled Amazon, for now, two people aware of the matter said. Earlier this month, Amazon had … Read more