Mukesh Ambani News

Reliance Industries Ltd, has been capitalised with a net worth of Rs 1.2 lakh crore to create one of the world's highest capitalised financial services platforms at inception, chairman Mukesh Ambani said on Monday. Speaking at company's annual general meeting, he said JFS will consolidate its payments infrastructure with a ubiquitous offering for both consumers and merchants, further driving digital payment adoption for India. «JFS products will not just compete with current industry benchmarks but also explore path-breaking features such as blockchain-based platforms and CBDC,» he said. «JFS will enter the insurance segment to offer simple, yet smart, life, general, and health insurance products.» Just like Jio and Retail, JFS too will prove to be an invaluable addition to the Reliance ecosystem of customer-facing businesses, he said. «This is a highly capital-intensive business,» he said.

RIL AGM, Reliance Industries Ltd appointed Isha Ambani, Akash Ambani, and Anant Ambani as directors to the board of the oil-to-telecoms conglomerate. In an exchange filing, RIL informed shareholders on Monday, "The Board of Directors of RIL, at its meeting held today, on the recommendation of the Human Resources, Nomination and Remuneration Committee, considered and recommended to the shareholders for approval of appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the Company".

Reliance Industries Chairman Mukesh Ambani on Monday informed investors that the valuation of Reliance Retail rose to Rs 8.28 lakh crore today, from Rs 4.28 lakh crore in 2020. Reliance Industries Ltd (RIL) recently announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures for a 1 per cent stake. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.

Reliance Industries chairman Mukesh Ambani said the company is rapidly augmenting its talent pool and capabilities in artificial intelligence, especially the recent advances in generative AI, adding that the company will create up to 2000 MW of AI-ready computing capacity across both cloud and edge locations. “Within the RIL group, we are rapidly augmenting our talent pool and capabilities to swiftly assimilate the latest global innovations in AI, especially the recent advances in Generative AI,” Ambani said during RIL’s annual general meeting. He also said RIL will be developing India-specific AI models and AI-powered solutions. At the annual gathering of company shareholders, Ambani said India needs a digital infrastructure that can handle AI’s immense computational demands. “As the sector expands, we stand committed to create up to 2000 MW of AI-ready computing capacity, across both cloud and edge location. And we will do this while adopting sustainable practices and a greener future,” he said. He said India has the scale, data, and the talent to spur a homegrown AI revolution. “Seven years ago, Jio promised broadband connectivity to everyone, everywhere.

Reliance Chairman Mukesh Ambani sounded upbeat about the India story and revealed the company's ambitious plans in his speech at the 46th Annual General Meeting (AGM) of the company. Highlighting that the new India is full of self-confidence and the new Reliance is the forerunner of the emerging new India, Ambani pointed out that Reliance Industries’ consolidated revenues stood at ₹9,74,864 crore, while EBITDA for FY23 was ₹1,53,920 crore in FY23. The net profit was ₹73,670 crore.

Nita Ambani from the Board respecting her decision to devote her energies and time to guide and enable Reliance Foundation to make even greater impact for India.

Reliance Industries Limited (RIL) Chairman Mukesh Ambani, stated that Reliance had created 2.6 lakh new employment in the previous year. Reliance's consolidated revenues were ₹9,74,864 crore, and Mukesh Ambani expressed his joy at yet another year of outstanding overall performance. In FY23, Reliance's EBITDA was ₹1,53,920 crore, and its net profit was ₹73,670 crore.

Reliance Industries Limited (RIL) 46th Annual General Meeting saw some major technology announcements. RIL Chairman Mukesh Ambani called the company ‘New Reliance’ which will be a new age-technology driven company with distinctive capabilities.

Reliance Industries Limited (RIL) on Monday held its 46th Annual General Meeting (AGM) for its shareholders. This AGM comes just weeks after the listing of Jio Financial Services on India's stock exchanges.

Reliance Industries Ltd (RIL), the billionaire Mukesh Ambani-led energy-to-telecom conglomerate, is set to hold its 46th Annual General Meeting (AGM) of shareholders today, on August 28, 2023. The RIL AGM 2023 and is being held after the Jio Financial Services was listed on stock exchanges earlier this month. Let us first take a look at Reliance AGM date and time.

Jerome Powell could prompt investors to continue booking profits. The week ahead is also eventful for Dalal Street investors from a corporate standpoint.Mukesh Ambani the Chairman of Reliance Industries will address the shareholders at the company’s 46th annual general meeting on Monday, which will be closely tracked by investors. The next big event for the market is the Supreme Court’s hearing on Tuesday in the Adani-Hindenburg case. Volatility is expected to be high in the market, according to experts, given weak global sentiment and domestic events. “Equity markets are expected to remain volatile due to weakness in the external environment,” said Hemant Kanawala, senior EVP and head — equity, Kotak Mahindra Life Insurance Co. While corporate earnings of Indian companies are showing strong growth, valuations aren’t cheap, and there is limited room for them to expand, Kanawala said, adding that investors are likely to get returns in line with earnings growth till the end of the year.RIL AGMIn the last few years, some of the big bang announcements from Ambani have usually come at the AGM.

Reliance Industries in 2017, Chairman Mukesh Ambani got emotional while remembering his late father, Dhirubhai Ambani. Mukesh's mother Kokilaben Ambani burst into tears. Reliance Jio had come very close to the dream that Mukesh Ambani's father had decades ago. Dhirubhai used to say if you made a phone call cheaper than a postcard, you would revolutionise the lives of millions of Indians. Mukesh Ambani's Reliance Jio not only made a phone call totally free, it made even the handset cheaper than a postcard as it came free with a refundable deposit. «I can feel as if he is sitting here, smiling and talking to me and to all of you,» Ambani said at the AGM. «I hear him telling me, 'Now, you are in my place. You have the responsibility to protect Reliance and promote the interests of all its shareowners, partners and employees. I am confident that you will take Reliance to greater heights'.» His mother, Kokilaben, was in tears and the audience applauded and broke into chants of «We love Jio». That was hardly how an AGM — a dreary, number-crunching exercise between the shareholders and the company management — is generally expected to go.The 46th AGM of Reliance on Monday What will happen at the 46th AGM of Reliance on Monday, August 28? While nothing can be said about what Ambani will announce at the AGM, one thing is certain — as Reliance AGMs go, this one too will be one of the biggest annual corporate events of India, full of business announcments as well as personal outpourings.

Reliance Industries Limited will hold its annual general meeting (AGM) with the shareholders on August 28. Investors will be glued to this 46th Reliance industries AGM as Chairman Mukesh Ambani usually makes key announcements related to growth and expansion plans in these meetings. While major decisions are expected to unfold around new energy ambitions, succession plans, retail services and the telecom sector, the newly formed Jio Financial Services will be in focus as it was recently listed on the stock exchanges on August 21.What to expect? The meeting is expected to lay out a future plan for JFS that was demerged from RIL in July. Ambani is likely to share growth plans for the financial services business following its tie-up with the world’s largest asset manager, BlackRock, to take on India’s $540 billion mutual fund industry. JFS is likely to enter the B2B credit business first to leverage its large wholesale business network and then consumer lending. The aim is to lend to consumers and merchants based on proprietary data analytics, and then use it to branch out to insurance, payments, digital broking and asset management, according to Mukesh Ambani. As various financial services are governed by different regulatory frameworks, we believe, an independent financial services entity will allow us to access the opportunities available in the Indian market, said Ambani in the annual report of RIL. He also said JFS along with its subsidiaries will leverage the technological capabilities of Reliance and digitally deliver financial services, democratising access to financial services offerings for Indian citizens.

₹205.15 apiece on the BSE on Friday. However, the stock witnessed some buying and recovered from day’s low to hit an intraday high of ₹225.00 apiece. About 227 million JFSL shares changed hands on Friday, Reuters reported.

Reliance Industries AGM 2023: The billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) is set to hold its Annual General Meeting (AGM) of shareholders on August 28, 2023. This is RIL’s 46th AGM and is being held after the Jio Financial Services was listed on stock exchanges earlier this month.

Reliance Industries’ annual general meeting on Monday. Like always, investors’ eyes will be glued to Chairman Mukesh Ambani’s speech, as he addresses shareholders at the 46th AGM of the conglomerate. In the last few years, some of the big-bang announcements from Ambani’s stable have usually come at the AGM. Therefore, this event has taken centre stage on Dalal Street. But this time, Ambani gave out goodies much ahead of the AGM in the form of a stake sale in Reliance Retail Ventures and the listing of Jio Financial Services. On Wednesday, the conglomerate announced that Qatar Investment Authority will pick up a nearly 1% stake in the retail arm, valuing the country’s largest retail firm at $100 billion. The valuation of the retail business of Ambani has doubled within three years, and this has increased the noise of a possible initial public offer (IPO) of Reliance Retail on the Street. At RIL’s AGM in 2019, Ambani had first announced plans to list the telecom and retail businesses of the conglomerate. In 2020, Ambani did a mega fundraising programme by selling stakes in both Reliance Jio and Reliance Retail to marquee private equity firms and sovereign wealth funds. Then, Reliance Retail Ventures raised Rs 47,265 crore, which valued the company at Rs 4.21 lakh crore. The sharp expansion in the valuation could lure private equity investors to take in some of the money back home.

QIA) agreed to invest ₹8,278 crore ($997 million) in Reliance Retail Ventures (RRVL) at an equity valuation of ₹8.2 lakh crore ($100 billion), making it the single largest investment by the sovereign wealth fund of the gas-rich country in India. RRVL, the holding company of Reliance Retail Ltd (RRL), had diluted 10.1% stake and raised over $6 billion in 2020 from several financial sponsors and sovereign wealth funds (SWFs) such as KKR, General Atlantic, TPG, Silver Lake, L Catterton, Abu Dhabi Investment Authority, Mubadala and Public Investment Fund of Saudi Arabia. QIA and RRVL announced the deal on Wednesday. The capital raise, at a 97% premium to the last round (₹4.2 lakh crore), sets a new valuation benchmark for a larger $3-4 billion raise being planned by RRVL, said people in the know.Europe Meeting The funding round from financial investors including SWFs from South-East Asia is part of a value-unlocking exercise ahead of a planned listing, said people in the know. At $100 billion, RRVL, with over 18,000 stores, will outpace global peers such as Tesco, Carrefour, Uniqlo and JD.com. In India, Reliance Retail, the largest in the segment by sales and profit already, will be almost 3.5 times the value of the largest listed retail chain, Avenue Supermarts, which owns DMart.

₹ 8,278 crore into RRVL, a subsidiary of Reliance Industries Limited. This investment values RRVL at a pre-money equity value of ₹ 8.278 lakh crore.

Reliance Industries Ltd (RIL) on Wednesday announced that Qatar Investment Authority (QIA) will invest Rs 8,278 crore in its subsidiary Reliance Retail Ventures. This investment values Reliance Retail Ventures at a pre-money equity value of Rs 8.28 lakh crore. The investment by the Qatari fund will translate into a nearly 1% stake in the retail major. In 2020, Reliance Retail Ventures raised Rs 47,265 crore by selling a stake to various global investors.

Supreme Court on Monday reserved its order on the bail plea of former Mumbai Police officer Pradeep Sharma, who was arrested in connection with the Antilia bomb scare case and the killing of businessman Mansukh Hiran. On February 25, 2021, an explosives-laden SUV was found near industrialist Mukesh Ambani's residence 'Antilia' in south Mumbai. Businessman Hiran, who was in possession of the SUV, was found dead in a creek in neighbouring Thane on March 5, 2021.

Finolex Industries, ITD Cementation India, among others. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout. It is the day the stock becomes ex-dividend, which means it does not carry the value of its next dividend payment from that day forward.