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Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

15Oct By Gauri SinghNo Comments

BUSINESS

Three of Top 10 Indian Firms lost Rs 1 trillion in m-cap

Three of the top 10 and India’s most valued companies together saw a dissolution of ₹1,07,026.12 crore in market capitalisation last week where IT major TCS took the biggest knock. The three companies that witnessed the same were Tata Consultancy Services (TCS), ITC and Infosys. The firms suffered a decline in their valuation for the week ended on Friday. On the other hand, RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, SBI, Kotak Mahindra Bank and Maruti Suzuki India ended with gains. Altogether, the erosion suffered by the three companies was higher than the combined gain of Rs 97,498.38 crore that was made by the rest of the seven firms. The valuation of TCS plunged by Rs 85,330.17 crore Rs 7,19,857.48 crore. On the other hand, the market cap of Infosys slumped ₹18,696.68 ...

RIL in Talks to Acquire India’s Largest Cable Operator

3Oct By Gauri SinghNo Comments

ACQUISITION

RIL in Talks to Acquire India’s Largest Cable Operator

Indian conglomerate Reliance Industries is in talks to acquire India’s largest cable operator, Hathway Cable & Datacom. With this acquisition, the company is looking to speed up the commercial launch of its GigaFiber high-speed home broadband services. However, some people familiar with the development have stated that the talks were at an initial stage and a deal was still at an exploratory stage. “It’s too early to say if the deal will go through or not, but RIL is aggressively pursuing it,” one of the people said. “The valuation figure being discussed is around Rs 2,500 crore,” the person added. Hathway is one of the largest Digital Cable TV and Broadband Internet Services provider in India that offers cable television services across 140 cities. It is a multi-system operator (...

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

30Jun By Lavina TolaniNo Comments

ACQUISITION

Reliance Industries to Acquire Telecom Solutions firm Radisys Corporation

Reliance Industries is gearing to acquire Nasdaq listed telecom solutions provider Radisys Corporation for a whopping $75 million i.e approx (Rs. 510 crores), a move that would push it into an Internet of Things and 5G through Reliance Jio Infocomm. According to the sources, RIL will pay $1.72 per share in cash for the buyout which will bolster Mukesh Ambani owned company's positioning as a telecom company. In its official company statement, Reliance Jio director Akash Ambani said, "This acquisition further accelerates (Reliance) Jio’s global innovation and technology leadership in the areas of 5G, IOT and open source architecture adoption." Speaking on the development, Akash Ambani further said, "Radisys top-class management and engineering team offer Reliance rapid innovat...

Mukesh Ambani’s Reliance Industries Plans To Hit The E-Commerce Sector

15Jun By Gauri SinghNo Comments

News

Mukesh Ambani’s Reliance Industries Plans To Hit The E-Commerce Sector

India’s business tycoon Mukesh Dhirubhai Ambani-led Reliance Industries has its major plans to enter the country’s e-commerce market which is worth $200 Billion. The company aims to join offline as well as online buying experience for its customers. It is being reportedly stated that the plan will be carried forward by combining two units of Reliance Industries Ltd (RIL) namely Reliance Jio Infocomm Ltd and Reliance Retail Ltd. The company aims to build an e-commerce space established on O2O (online-to-offline) market programme and bring local merchants on board boosting up their sales with the help of this plan. The O2O model helps to drag customers from online medium to buy products from offline channels. "Demand is going to come from tier 2 and 3 and 4 towns and cities. Then you nee...

RIL Becomes World’s 3rd Largest Energy Firm

25Sep By Press Trust of IndiaNo Comments

INDIA

RIL Becomes World’s 3rd Largest Energy Firm

Reliance Industries ltd has jumped five places to rank as the world's third-biggest energy company behind Russian gas firm Gazprom and German utility E.ON, according to Platts Top 250 Global Energy Company Rankings. (more…)