Tag: reliance

Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced to raise Rs 7,350 crore from two investors -- Singapore's sovereign wealth fund GIC and...

Richest Indian Mukesh Ambani on Wednesday announced his group's digital arm Jio developing a homegrown 5G telecom solution. "Jio has designed and developed a complete...

After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total...

In the wake of the COVID-19 pandemic, Reliance Jewels strives to uplift the spirits of Doctors and awaken a spirit of kindness among citizens Mumbai...

After 2 years of continuous planning Reliance Industries Ltd through its retail segment Reliance Retail Ltd is all set to challenge the global e-commerce giants Amazon and Walmart with its new eCommerce venture. The announcement got aired after the company started sending the invites to its Jio users to get registered on a new venture named ‘JioMart’ and get discounts on Monday.

Bharti Airtel, one of the biggest telecom operators, has withdrawn his bid to purchase the assets of Reliance Communications. They alleged the act of the Committee of Creditors as biased and Unfair, i.e., their act of extending the time limit of submitting the bid. CoC extended the time limit by ten days for submitting the bid on the request made by Reliance Jio.  Harjeet Kohli, who is the finance director of Bharti Airtel wrote a letter to the resolution professional and without naming Reliance Jio said that the committee of creditors rejected their request to extend the time for submitting the bid for Reliance communication. Still, surprisingly the dates have now been extended to accommodate a bidder.

Four people, including Anil Ambani, chairman of the bankrupt closed telecom company Reliance Communications (R-Com), have resigned as directors of the company. According to the quarterly results released on Friday, the company had a loss of more than 30 thousand crores. This is the second largest loss in corporate history after Vodafone-Idea.

The private sector is facing tremendous recession these days. The impact of the economic slowdown on many multinational companies is clearly visible. Reliance Communications (RCom), one of the country's leading companies, is also not untouched by this. Debt-ridden Reliance Communications (RCom) has a consolidated loss of around Rs 30,142 crore in the July-September quarter. In view of the decision on the statutory arrears by the Supreme Court, the company's losses have reached such a high level due to the provision for liabilities.

The government plans to reduce its stake in Indian Oil, the country's largest oil refining company, to less than 51 per cent. However, the government and its companies will retain control over IndianOil.

Vodafone Idea reported a loss of Rs 50,921 crore in the second quarter due to adjusted gross revenue (AGR). Earlier, the company had a loss of Rs 4,947 crore in the second quarter of last year. This is the largest quarterly loss yet in India's corporate history.