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Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

4Jun By Gauri SinghNo Comments

BUSINESS

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

The Mukesh Ambani-led Reliance Jio Infocomm has started its hunt for a team of experts to work under Akash Ambani regarding the Artificial Intelligence (AI) of the firm. Apart from AI, the company is also seeking for young people to work on machine learning and blockchain technology (a digital ledger in which transactions are recorded). It has been reported that Reliance Jio has already appointed some of the senior officials who are responsible for building this team. Akash Ambani is interestingly getting involved in this process and is being assumed to lead the initiative. The company is planning to set up this team in either of the two cities – Hyderabad or Bengaluru. An artificial intelligence (AI) oriented brand engagement platform called ‘JioInteract’ was launched by Reliance Ji...

RCom Shares in Demand, Give 100% Return in 11 Days

2Jun By Lavina TolaniNo Comments

Market

RCom Shares in Demand, Give 100% Return in 11 Days

Anil Dhirubhai Led company, Reliance Communications has witnessed a tremendous share jump with a nearly double the money returning in just 11 days. The surge in shares has come amidst NCLAT allowing RCom to proceed with the asset sale to Mukesh Ambani-controlled Reliance Jio Infocomm and Brookfield. Additionally, National Company Law Appellate Tribunal has also put a stay on the order of NCLT regarding insolvency of Reliance Communications, Reliance Infratel and Reliance Telecom. Speaking in terms of numbers, Rcom shares have jumped 100% to Rs 21 from a share price level of Rs 10.5 as on 16 May 2018. In a continuous stretch of last 11 days, heavy trading had been witnessed on the counters of RCom with about 50 to 80 crore equity shares being traded in a single day. Interestingly, ...

28May By Sheldan RungasamyNo Comments

ANALYSIS

Tata vs Reliance: Who is the Biggest?

Tata Consultancy Group and Reliance Industries are currently the two biggest companies in India but differ greatly in terms of the way their businesses operate and in terms of revenues and market valuations. Valuation Tata Consultancy Group leads the race between the two, currently, the Indian company with the highest valuation, Rs 6.11 trillion as of January 2018, while Reliance Industries Group holds a valuation of 6.10 trillion, trailing the software major by little. It should also be noted that TCS has been leading the Indian ground in terms of market capitalization for years since 2013 to be precise. At the time, TCS was leading RIL by up to Rs 4 trillion. However, in April 2017, RIL re-gained its perch of the leader after 4 years with an m-cap of Rs 4.60 trillion. Since then, both co...

Reliance Jio To Go Global, Eyeing to Capture European Market

22May By Lavina TolaniNo Comments

BUSINESS

Reliance Jio To Go Global, Eyeing to Capture European Market

After bringing a data boom in the telecom market with cheap offers and a lot of freebies, Mukesh Ambani led company Reliance Jio is now eyeing to expand in Europe. If reports are to be believed, the company is in plans to build a subsidiary in Estonia, a small country in Europe which is a prominent hub for startups owing to its unique digital policies. IANS has reported that Ambani has interestingly shown interest in an e-residency programme of Estonia which will give him an easy gateway to European Estonia for his existing business. The report cited that Ambani met Estonian delegation and expressed intentions over a future collaboration that could boost e-governance solutions in India. Estonia- A Business Opportunity for Reliance? Though Estonia is a too small...

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

8May By Sheldan RungasamyNo Comments

Entrepreneurs Talk

All You Need To Know About Mukesh Ambani’s Future Son-in-Law

Anand Piramal, a 33 year old Masters graduate from the Business School of Harvard is set to become Mukesh Ambani’s (India’s richest person) son-in-law after dropping the knee and subsequently the question to Isha Ambani, the Chairman of Reliance Industries’ only daughter. However, while everybody knows who Mukesh Ambani and Isha Ambani is, everyone wonders "Who is Anand Piramal?" Who is Anand Piramal? Anand Piramal is not the everyday son of a rich millionaire that displays his wealth on Instagram. After all, his father owns a net worth of $4.6 billion and is India's 22nd billionaire, therefore he could. Instead, Anand is a sharp and smart businessperson who makes strategic decisions with his soft-spoken and sweet personality with dreams of changing India’s society for the bet...

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

7May By Sheldan RungasamyNo Comments

News

Mukesh Ambani’s Daughter To Marry Business Tycoon Soon

Isha Ambani, daughter of India’s richest person, Mukesh Ambani and Nita Ambani, is set to marry Anand Piramal, son of Ajay Piramal and Swati Piramal, in India this year. Anand and Isha have been long-time friends and the former dropped the knee over the weekend at a temple in Mahabaleshwar. Once the proposal accepted, the couple celebrated the joyful news with their parents and other family members, including Isha’s brothers Akash and Anant. Anand, founder of Piramal Realty, one of India’s most successful real-estate companies is also an acclaimed businessman. In 2012, when the real estate business was crashing down. Anand Piramal founded Piramal Realty and raised about Rs 2,700 crore from famous global funding corporations Goldman Sachs and Warburg Pincus. The company grew very ...

Reliance Retail achieve $10 Billion Sales Mark

30Apr By Lavina TolaniNo Comments

BUSINESS

Reliance Retail achieve $10 Billion Sales Mark

Mukesh Ambani's Reliance Retail has become the first retailer in India to cross the $10 billion sales mark after doubling its revenue during the year that ended in March. The firm's previous year's revenue currently stands at ₹69,198 crore, which is the combined total of revenue from rival firms like Avenue Supermarket, Future Group, Tata Trent and Shoppers Stop. However, since Reliance also deals in fuel retailing business, its number cannot be directly compared with contenders that run food and grocery supermarkets and lifestyle department stores. Mukesh Ambani, Chairman of Reliance Industries said while interacting with the media, We have established strong foundations in retailing and digital services business with world-class supply chain management and network inf...

28Apr By Sheldan RungasamyNo Comments

BUSINESS

Reliance Registers Positive Revenues Across Several Business Streams

Reliance Industries released filings showing that it registered an all time high net profit for the fourth quarter, amounting to Rs 9,435 crores, thanks to advantageous outcomes in the refining and petrochemical business. The firm, which revealed its fourth quarter and fiscal year accounts, showed a 17.3% increase in profit compared to last year’s figure amounting to Rs 8,046 crores. The hike is primarily attributed to an increase in the start-up of petrochemicals projects and new understandings about refining and petrochemical products. Additional hikes were reported in the filings, such as a 21.8% increase in revenue to Rs 90,894 crore, exports increasing by 32.5% to Rs 51.295 crore in the fourth quarter, ending the fiscal year on March 31, 2018. Moreover, Network 18 Media and I...

Reliance Jio Takes Loan of Rs 3250 crore from Japanese Banks

14Apr By Sheldan RungasamyNo Comments

FUNDING

Reliance Jio Takes Loan of Rs 3250 crore from Japanese Banks

Reliance Jio, the telecom operator recently raised funding worth Rs 3250 crore as Samurai term loan from Japanese banks. A samurai loan is a low interest loan from Japanese investors and this deal with Reliance Jio represents the largest samurai loan an Asian company ever signed. A statement released from Reliance Jio read, “Reliance Jio Infocomm Limited has signed an approximately JPY 53.5 billion samurai term loan with 7 year bullet maturity, The facility is guaranteed by Reliance Industries Limited and will be used for funding RJILs ongoing capital expenditure.” “The facility has been fully underwritten by Mizuko Bank Ltd, MUFG Bank Ltd, and Sumitomo Mitsui Banking Corporation Singapore Branch and will be shortly launched into syndication,” the statement added. Last month, the ...

Jio Prime Members Will Enjoy 1 Year of Benefits Free

31Mar By Sheldan RungasamyNo Comments

News

Jio Prime Members Will Enjoy 1 Year of Benefits Free

Reliance Jio, the telecom company of Mukesh Ambani announced today that its existing Jio Prime members who subscribed by March 31, 2018 will receive complimentary prime benefits for the next 12 months for free. As for new Jio users, they can still join the prime membership at an annual fee of Rs 99, the company announced in a statement. “All Jio Prime members who have subscribed to the exclusive membership benefits till March 31, 2018 will get another year of complimentary prime benefits at no additional fee,” it said. The prime membership offer of Jio provide its customers with complimentary access to content bouquet such as Live TV channels, movies, videos and songs, as well as added value on general tariffs. The existing Jio prime members, those who subscribed before 31 Marc...

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

24Mar By Sheldan RungasamyNo Comments

ACQUISITION

Reliance Acquires Saavn Music App for $104 Million+Stock Deal

Reliance Industries, the Indian conglomerate in oil-to-telecom sector bought a stake in Indian music streaming service called Saavn and decided to merge the company with its JioMusic app and thus create a new unit that is reported said to be valued at $1 billion. Reliance will also have to buy a stake from Saavn’s current shareholders for $104 million. Reliance’s plan is to invest over $100 million, $20 million of it upfront for the expansion of JioMusic-Saavn merge, according to a joint statement issued by both companies. Saavn’s current investors include Tiger Global Management, Liberty Media and Bertelsmann and all of them will keep a holding in the new music services. Reliance, owned by India’s wealthiest person Mukesh Ambani did not reveal the amount of stakes it holds in the...

Key Highlights: UP Investors Summit 2018 Day One

21Feb By Sabhyata AgarwalNo Comments

News

Key Highlights: UP Investors Summit 2018 Day One

As Lucknow welcomes the heads of states and governments, ministers, leaders from the corporate world, heads of international institutions for the UP Investors Summit 2018, the event is said to be attended by at least 18 Union ministers and 100 speakers. The event organised by the Chief Minister Yogi Adityanath of 'Nawabo ka Sheher' Lucknow was aimed at promoting business and investment opportunities in the state. #UPInvestorsSummit के उद्घाटन सत्र में प्रतिभाग करने रिलायंस इंडस्ट्रीज के चैयरमेन श्री मुकेश अंबानी, अडानी समूह के चैयरमेन श्री गौतम अडानी, महिंद्रा ग्रुप के चैयरमेन श्री आनंद महिंद्रा, बिड़ला समूह के चैयरमेन श्री कुमार मंगलम बिड़ला व जी समूह के चैयरमेन श्री सुभाष चंद्रा पहुंचे। pic.twitter.com/6mISvxnDQW — CM Office, GoUP (@CMOfficeUP) February 21, 2018 ...