Reliance New Energy Solar Ltd (RNESL), a wholly owned subsidiary of Reliance Industries is acquiring 100% of Faradion Limited (FL), a British battery maker specialising in sodium-ion technology. Key points to note – RNESL is investing 125 mn pounds in the transaction – 100 mn pounds for 100% acquisition of FL and balance 25 mn … Read more
Reliance has partnered with Abu Dhabi Chemicals Derivatives Company RSC Ltd (TA’ZIZ) to invest $2 billion in setting up a petrochemical production facility in the UAE. Key pointe to note – TA’ZIZ is aimed at developing economic competitiveness of UAE. TA’ZIZ comprises of three main zones: the TA’ZIZ Industrial Chemicals Zone (TICZ, chemicals production), TA’ZIZ Light … Read more
In line with Reliance’s increasing focus on renewables and hydrogen, the Company has decided to put gasification assets into a separate 100% subsidiary. Key points to note – The Gasification project at Jamnagar was set up to repurpose refinery off-gases and produce Syngas to be used for production of olefins at lower costs. Syngas is … Read more
It’s an important piece of news (Link to the original news article). As per the news article, JioMart has been increasing it’s distribution play to local retailers (also known as kirana, mom and pop stores) primarily based on the lower pricing. Given the bulk buying by Reliance, traditional distributors are unable to match the pricing … Read more
Reliance and Saudi Armco have mutually decided to call off the proposed investment by the latter of $15 bn into Reliance’s Oil to Chemicals (O2C) business. “Due to the evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment … Read more
American retail giant Amazon has moved the Supreme Court, appealing against a National Company Law Tribunal (NCLT) order that had allowed the Future Group’s listed companies to hold shareholders’ and creditors’ meetings to clear its proposed transaction with Reliance Retail Ventures. In its application, Amazon has urged the Supreme Court to pass an order to … Read more
Reliance’s solar unit Reliance New Energy Solar Ltd (RNESL) will buy preferred shares of German firm NexWafe worth 25 million euros ($28.82 million). NexWafe is developing and producing monocrystalline silicon wafers grown directly from inexpensive raw materials, going directly from the gas phase to finished wafers. This is expected to give solar manufacturers a significant … Read more
The rankings are published by Forbes and covers 750 corporates globally. Key points to note – No. 1 position went to Samsung Electronics followed by US giants IBM, Microsoft, Amazon, Apple, Alphabet and Dell Reliance is placed at 52nd position – the highest for any Indian Corporate ICICI Bank is placed at 65 and HDFC … Read more
Recently there has been a lot of tussle going on in between Zee Entertainment and Invesco (it’s largest shareholder with 17.88% stake). It started with Invesco requesting for an EGM to seek a major management reshuffle in mid September 2021, effectively taking the company out of promoter’s control. As Zee chose to ignore the request, … Read more