Reliance Jio on Monday approached the Punjab and Haryana High Court urging it to direct the Punjab government to intervene and stop the continuous vandalism of its infrastructure in the state. The Mukesh Ambani led company stated that the vandalism has endangered the lives of its employees and disrupted its communication setup.
In a petition filed earlier this morning, Jio said that the miscreants have been indulged by people with vested interest under the garb of the ongoing farmer protests.
The Securities and Exchange Board of India (Sebi) on Friday imposed penalties on Reliance Industries (RIL), its Chairman and Managing Director Mukesh Ambani, and two other entities for alleged manipulative trading in the shares of erstwhile Reliance Petroleum (RPL) back in November 2007.
Fines of Rs 25 crore and Rs 15 crore have been imposed on RIL and Ambani, respectively. Besides, Navi Mumbai SEZ has been asked to pay a penalty of Rs 20 crore, and Mumbai SEZ has been directed to pay Rs 10 crore.
Reliance Industries is rolling back salary cuts for employees of its hydrocarbons division, and is also giving out performance bonus that had been deferred after business was hit by the lockdown.
The firm is also offering an advance 30 per cent of the variable pay from the next year’s salary to its employees, as a goodwill gesture for working during the pandemic, said two people familiar with the matter.
Shares of Reliance Industries (RIL) advanced 1 per cent ato Rs 2,268 on the BSE in the early morning trade on Wednesday after General Atlantic, a leading global growth equity firm, said it will invest Rs 3,675 crore in Reliance Retail Ventures Limited (RRVL) for 0.84 per cent equity stake.
The stock of RIL was trading higher for the fourth straight day and has gained 4 per cent during the period. It hit a record high of Rs 2,368.80 on September 16, 2020.
Global investment firm KKR will invest Rs 5,500 crore in Reliance Retail for 1.28 per cent equity share, Reliance Industries Limited said in a BSE filing on Wednesday. This marks the second investment by KKR in a Reliance subsidiary, following a Rs 11,367 crore investment in Jio Platforms announced earlier this year.
KKR's investment values Reliance Retail at a pre-money equity value of Rs 4.21 trillion.
Shares of Reliance Industries (RIL) hit a record high of Rs 2,218, up 3 per cent on the BSE in the early morning trade on Thursday, with its market-capitalisation (market-cap) nearing Rs 15 trillion. It surpassed its previous high of Rs 2,198.70, touched on July 27, 2020 in intra-day trade.
The stock has gained 5 per cent in the past two trading days after Silver Lake on Wednesday agreed to invest Rs 7,500 crore ($1 billion) into Reliance Retail Ventures (RRVL). Reliance Retail, a subsidiary of RRVL, operates India's largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its around 12,000 stores nationwide.
Shares of Reliance Industries (RIL) were up 1.5 per cent to Rs 2,139 on the BSE on Wednesday after the company announced that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of RIL. The stock was trading higher for the third straight day in an otherwise subdued market.
This investment values RRVL at a pre-money equity value of Rs 4.21 trillion. Silver Lake’s investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis, RIL said in a press release.
In a bid to strengthen its e-commerce position, Reliance Industries (RIL) is in talks to acquire online furniture brand Urban Ladder and milk delivery platform Milkbasket, The Times of India reported.
According to the report, the discussion with Urban Ladder has been going on for the last few months and is now at an advanced stage. People close to discussion pegged the deal at around $30 million including further infusion in the business and earn-out for the management team.
Four years ago, disbelief rippled through the audience at Reliance’s annual general meeting when Mukesh Ambani said he was launching 4G Volte smartphones under Reliance’s own brand name Lyf at an unbeatable price of Rs 2,999 when the average 4G smartphone at that time cost Rs 4000.
On Tuesday, during the company’s first pandemic-forced virtual annual general meeting, Ambani outlined another vision to disrupt the mobile device market again.
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.