Mukesh Ambani News

market capitalisation growing at an average annual run rate of Rs 1 lakh crore in the last two decades, billionaire Mukesh Ambani-owned Reliance Industries is undoubtedly the largest wealth creator in the history of Dalal Street. After India's most valued stock touched the Rs 20 lakh crore milestone this week, it is now bigger than the likes of American MNC giants like McDonald's, PepsiCo, Netflix and Accenture. Shareholders of RIL, which was worth just Rs 1 lakh crore in August 2005, have made a notional profit of Rs 19 lakh crore in a span of less than 19 years.

₹19 lakh crore. Reliance shares rallied as much as 4.19% to a fresh high of ₹2,824.00 apiece on the BSE. On NSE, Reliance share price jumped 4.35% to a record high of ₹2,824.00 apiece.

Walt Disney Co.’s India unit is being valued at less than half of what it hoped for in a proposed merger with Indian billionaire Mukesh Ambani’s media business, reflecting the struggle global media giants face in one of the world’s fastest-growing entertainment markets. After weeks of negotiations following a non-binding pact with Ambani’s Reliance Industries Ltd. to merge their entertainment business, Disney’s India assets are valued at around $4.5 billion, less than the $10 billion the US entertainment giant has previously pursued, according to people familiar with matter, who asked not to be identified as the discussions are private.

BENGALURU (Reuters) -Zee Entertainment's shares (NS:ZEE) plunged 10% on Tuesday, set for their biggest one-day slide since April 2021, after Sony (NYSE:SONY) India scrapped a $10 billion merger with the Indian broadcaster, raising concerns about its survival in an increasingly competitive industry.

Reliance Industries Ltd (RIL) is getting closer to its target of producing green hydrogen for $1-1.5 per kilogramme on the back of multiple product-linked incentives (PLIs) it has won in the green energy segment, an analyst report said. «These incentives are likely to assist RIL achieve GH2 (green hydrogen) cost of $1-1.5/kg,» Nuvama Research said in a report dated January 20. The cost of GH2 is around $3/kg at present. The country's largest private sector company has secured sops under both rounds of solar modules PLIs — $300 million for 4 gigawatt (GW) in round one and $400 million for 6 GW in round two.

Reliance Industries chairman Mukesh Ambani; Sunil Bharti Mittal, founder and chairman of Bharti Enterprises; Kumar Mangalam Birla, chairman of the Aditya Birla Group; Hero Enterprise chairman Sunil Munjal; Zee CEO Punit Goenka; Vedanta chief Anil Agarwal; Niranjan Hiranandani, MD of the Hiranandani Group, and Oyo founder Ritesh Agarwal were among those who attended the event. «Lord Ram is arriving today. January 22 will be Ram Diwali for the entire country going ahead,» said Mukesh Ambani as he arrived in Ayodhya with his family including wife Nita Ambani, daughter Isha Ambani, sons Akash and Anant Ambani, daughter-in-law Shloka Mehta and Anant Ambani's fiancee Radhika Merchant. Mittal said he was feeling «blessed» to be in Ayodhya.

Ram temple at Ayodhya as corporate India gave leaves to staff and organised special prayers to mark the consecration. Billionaire Mukesh Ambani and his family as well as steel tycoon Lakshmi N MIttal, telecom czar Sunil Bharti Mittal, Reliance Group head Anil Ambani and Aditya Birla group chairperson Kumar Mangalam Birla and his daughter Ananya Birla were among the businessmen in Ayodhya for the consecration of Ram temple.

By Nishit Navin and Chris Thomas

multi-layer security cover is in place in Ayodhya for the consecration ceremony, with 10,000 CCTV cameras and drones equipped with artificial intelligence keeping an eye on the movement of people. Police personnel in plain clothes have been deployed at the venue. While more than 7,000 people are on the list of invitees for the event, the select list features 506 A-listers.

Ayodhya is set to witness a historic moment on January 22 as the Pran Pratishtha ceremony at the Ram Mandir draws near. The Shri Ram Janmbhoomi Teerth Kshetra has unveiled a guest list that prominently features legendary sports personalities, adding an extra layer of excitement to the event that already holds immense cultural and national significance.

ALSO READ: Reliance Q3 Results Highlights: Jio, Retail shine; O2C revenue declines; 5 key highlights from RIL Q3 earnings Post third-quarter earnings announcement on Friday, RIL chairman and managing diRECtor Mukesh Ambani said that the “New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance's New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels." The company has signed an MoU with the Gujarat government to set up 100 gigawatt renewable power facility at ₹5 lakh crore capex.

Ayodhya are full and the shops have run out of gold-plated idols, as wealthy devotees prepare for the invite-only opening ceremony of one of holiest temples. Prime Minister Narendra Modi and Asia's richest man Mukesh Ambani are among the 8,000 or so attendees at Monday's inauguration event for the Ram Temple, which devotees believe is built on the birthplace of Lord Ram, a sacred Hindu deity. The construction of the temple, which began after the Supreme Court awarded the site to Hindus in 2019 more than two decades after a Hindu mob razed a mosque there, triggering deadly riots, fulfils a key campaign promise of Modi and his nationalist party. The opening ceremony, organised by the trust that built the temple, comes months before a national election which the ruling Bharatiya Janata Party is widely expected to win, and the who's who of India is expected to be there. «It's become like a status symbol to be invited to this event,» said Rajan Mehra, CEO of Indian luxury charter service Club One Air, adding that his fleet, which includes the Dassault Falcon 2000, is booked to make multiple trips next week. Officials estimate 100 private jets will descend on Jan. 22 on Ayodhya airport, filling it to capacity.

₹5,208 crore, was also up 3% sequentially from Q2FY24; and revenues, at ₹25,368 crore, were up 2.5% over the previous quarter. Brokerages such as BofA, ICICI Securities and JM Financial had estimated revenue increase to be around 2.3-3% sequentially and about 10% on-year, while net profit was estimated to grow around 2.7-3.8% and 12%, respectively. The telecom carrier’s average revenue per user (APRU) remained flat at ₹181.7 sequentially, missing estimates of a rise to ₹183.

Reliance Industries' retail arm Reliance Retail Ventures (RRL) on Friday posted 32% growth in its net profit at Rs 3,165 crore for the quarter ended December 2023. The same stood at Rs 2,400 crore in the year-ago quarter. Revenue from operations in the reporting period rose 24% year-on-year to Rs 74,373 crore. The business posted an EBITDA of Rs 6,258 crore, which was up by 31% year-on-year.

Ram Mandir Opening: Is January 22 a bank holiday? Check here Several politicians, industrialists, sportsmen, and celebrities have been invited to the Pran Pratishta ceremony which will also see Prime Minister Narendra Modi in attendance. Among the other industrialist invitees include Mukesh Ambani, Anil Ambani, Ratan Tata, Gautam Adani and TS Kalyanaraman, MD of Kalyan Jewellers.

₹3,105 per share by rolling forward RIL’s New Energy valuation to FY26E sales. It has a ‘Buy’ rating on the RIL shares. Reliance Industries has strategically invested in ten global technology innovators across New Energy verticals.

₹250.10 apiece on the BSE. The demerged entity of Reliance Industries, Jio Financial Services Ltd (JFSL) recorded a 56% quarter-on-quarter (QoQ) decline in their net profit for the third quarter of FY24 at ₹293.82 crore from ₹668.18 crore in the September quarter. The company’s revenue in Q3FY24 slumped 32% to ₹413.61 crore from ₹608.04 crore, QoQ.

While the headlines are occupied with the wedding of Bollywood superstar Aamir Khan’s daughter Ira Khan to her beau Nupur Shikhare, another high-profile couple is also preparing for their big day! The wedding bells are ringing for Anant Ambani( the youngest son of Reliance Industries Chairman Mukesh Ambani and his wife Nita) and his fiance Radhika Merchant. While not many details are known about their upcoming wedding, details about their wedding invitation card have gone viral on the Internet. The card which includes a handwritten note by the Ambanis, reads, “We are thrilled to invite you to Radhika and Anant’s pre-wedding festivities at the Reliance Greens in Jamnagar, from March 1-3 2024. With the blessings of Smt Kokilaben & Shri Dhirubhai Ambani, Smt. Purnimaben & Shri Ravindrabhai Dalal we are delighted to invite you to the pre-wedding celebrations of our son." The note also added a detailed history of Jamnagar. Established in 1997, it soon developed into the world’s largest grassroot refining complex. The proud parents also wrote about how their son Anant had transformed the complex into a haven for rescued animals. The couple then invited the guests to attend the wedding and shower blessings on the couple. Radhika and Anant have known each other for quite a few years. The pair got engaged in 2022 at the Ambani residence in Antilia in Mumbai in a traditional Gujarati ceremony, that consisted of rituals such as Gol Dhana, Chunari Vidhi etc.

ALSO READ: Ayodhya Ram Mandir: From politicians to celebrities, who all are invited to the consecration ceremony? Check the full list here Industrialists Mukesh Ambani, Anil Ambani, Ratan Tata, Gautam Adani, and TS Kalyanaraman too have received the invitation. The 6,000 invitation cards for the grand consecration ceremony of ‘Ram Lalla’ have been sent to invitees from across the nation.

standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2023," RIL said in a regulatory filing. “A presentation to analysts and media on financial results of the Company for the quarter and nine months ended December 31, 2023, shall be made on the same day after the meeting," it added. The Q3 results will come as the shares of the company recently touched a new 52-week high of ₹2,658.95 on the BSE.

Reliance Industries' board will meet on January 19 to consider and approve results for the quarter ended December 2023. “The meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2023,” the company said in an exchange filing. RIL’s recently listed subsidiary Jio Financial Services will be releasing its quarterly earnings on Monday.