Anil Ambani, the chairman of Reliance Infrastructure and Reliance Power, told shareholders at a virtual annual general meeting (AGM) on Tuesday that promoters would increase the stake in the two companies. Ambani also informed shareholders that Reliance Power had refrained from availing a moratorium on its loans, calling the moratorium a ‘financial penalty’. “The promoters … Read more
That could either have meant that Jio Platforms would raise about $5.7 billion more, or sell another 10% stake. But as it turns out, the company has ended up selling an additional 12.4% stake already to global investors, and has raised $8 billion more. At the rate Jio Platforms is signing up investments—$1.3 billion per … Read more
Three days after Reliance Retail signed a commercial pact with Facebook’s WhatsApp to further the reach of its online venture JioMart, the retailer went live in the suburban Mumbai areas of Navi Mumbai, Thane and Kalyan. Reliance’s tie up with WhatsApp means it gets direct access to WhatsApp’s user base of over 400 million. To … Read more
For the quarter ended December 31, 2019, DMart reported a 53.3 per cent yoy rise in net profit at Rs 394 crore. Profit before tax for the period under review stood at Rs 497.34 crore, a YoY growth of nearly 26 per cent. Net sales for the period grew nearly 24 per cent to Rs … Read more
The much awaited JioFibre broadband plans are out. Details are available on the Company website. The plans range from Rs 699/ month to Rs 8,499/ month with minimum speed of 100 mbps going all the way upto 1GBPS. Along with the broadband internet services, Jio offers its customers multiple other value added services – landline … Read more
Reliance delivered a highly impactful AGM on August 12, 2019. In the excitment of many positives, one should not forget some important points.