Mumbai: R eliance Jio Infocomm Ltd, the telecom unit of Mukesh Ambani’s Reliance Industries Ltd (RIL), is setting up 14 data centres across India to create a cloud-computing infrastructure that can take advantage of, and complement, its long-delayed roll-out of fourth generation, or 4G, telecom services, finally expected this year.

The cloud-based services, three company executives familiar with the plan said, will span healthcare, education and entertainment, and build synergies with the home shopping and content businesses of Network18 Media & Investments Ltd, in which RIL is acquiring a majority stake.

Mumbai: The 30-share benchmark S&P BSE Sensex and 50-share CNX Nifty rose to all-time highs in intra-day trade and at close for a second day on Friday as energy shares surged on optimism Prime Minister Narendra Modi will take a decision on raising natural gas prices by the end of this month.

The Sensex closed at a fresh high of 25,396.46 points, up 1.51%, or 376.95 points, while the Nifty ended at a fresh high of 7,583.40, up 1.46%, or 109.30 points.

It can be termed the clash of the titans in hydrocarbon space or the alleged "great gas robbery".

Government-owned Oil and Natural Gas Corporation (ONGC), the country's largest producer of both, alleges Mukesh Ambani's Reliance Industries (RIL), the country's largest private company by market capitalisation, has stolen gas worth Rs 30,000 crore from its block in the Krishna-Godavari (KG) basin.Approaching the high court here last month, the Maharatna major says RIL had drawn out 18 billion cubic metres of natural gas from 2009 to September 2013 from its assets.

JM Financial Institutional Securities, on behalf of Independent Media Trust, represented by its trustee Sanchar Content Private Ltd, together with Reliance Industries Ltd (RIL) and Reliance Industrial Investments and Holdings, has made an offer for the acquisition of up to 22.99 crore equity shares of Network18 Media & Investments Ltd, constituting the remaining 21.96 per cent at a price of Rs.41.04 a share aggregating to Rs.943.70 crore.

Mukesh Ambani-controlled Reliance Industries Ltd (RIL) is acquiring a majority stake in Raghav Bahl’s Network18 Media and Investments and its subsidiary TV18 Broadcast through Independent Media Trust (IMT), of which RIL is a sole beneficiary.

Network18 Media and TV18 control a suite of broadcasting channels like CNBC-TV18, Viacom18 and CNN-IBN, besides a bevy of e-commerce businesses and digital internet sites.

Two state-owned lenders to power projects have bailed out Reliance Infrastructure-owned Delhi power distribution companies (discoms) from a payment crisis threatening to pull the plug on the national capital's power supply beginning June.

An executive of Power Finance Corporation said, "Our board has approved a Rs 500-crore short-term loan request from Reliance Group-owned BSES firms.

Reliance Industries Limited (RIL) on Friday hit out at Oil and Natural Gas Corporation (ONGC) for suing it over the Krishna-Godavari (K-G) gas dispute. It has also denied the claim made by ONGC that the company was stealing gas from ONGC’s K-G gas block off Andhra coast.

NEW DELHI: Reliance Industries chairman Mukesh Ambani kept his annual salary capped at Rs 15 crore for the sixth year in a row even as the remuneration of key executives went up.

Ambani, the richest Indian, has kept salary, perquisites and allowances and commission at Rs 15 crore since 2008-09, foregoing almost Rs 24 crore per annum.

New Delhi: Reliance Industries Limited’s (RIL’s) much anticipated (and also much-delayed) launch of data-rich 4G (or fourth generation) services will, apart from challenging telcos and cable and DTH (or direct-to-home) television companies, also seek to change the dynamics of the education, entertainment, financial services and healthcare businesses in the country, according to executives at the company and its rivals, and details from its annual report for 2013-14.

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