RCom's fall is part of a long decline. Personal fortunes of Anil Ambani have shrunk ever since he and Mukesh Ambani split the family business in 2006.
The convocation address for the B-school students will be delivered by Global Brewer CEO Carlos Brito.
Ambani's 149-rupee-a-month ($2.20) entry-level plan is lower than the 196 rupees Bharti Airtel earned from an average Indian mobile user in the June quarter.
The 59-year-old's re-entry into telecom has been in the making for almost six years as he prodded the team, which included daughter Isha and son Akash.
Reliance Industries chairman Mukesh Ambani said the company would partner small entrepreneurs of West Bengal by providing them connectivity.
The marriage, due in December, of the scions of two big business families has the undertones of a royal wedding in the making.
Jio had claimed that the financial stress in top three telcos' businesses was due to their dependence on debt, and blamed high government fees.
The company said with the introduction of 'Zero-Touch' postpaid, all postpaid services such as voice, internet, SMS, international calling will be pre-activated in this offer.
RIL and BP are partners in four oil and gas blocks, including the flagging KG-D6 gas block. BP holds 30 per cent interest in the block operated by RIL.
The case will be heard next on May 14, and then HSBC Daisy Investments and minority shareholders will argue their side on May 16 and 17.
According to ET Now, RIL and BP have been invited by the Centre to invest in fuel retailing. RIL had in 2008 began shutting down fuel pumps.
S&P Global Ratings put a negative outlook on Airtel’s BBB- rating on May 3 after “cut-throat pricing” led to weaker-than-expected earnings.
Chinese President Xi Jinping dethroned Russian President Vladimir Putin as the most influential person on the planet.
India’s top carriers have alleged that Jio is running full-fledged commercial services in the guise of trials and is trying to poach their subscribers.
Sources said that the meeting with the Trai chairman involved a powerpoint presentation, giving an update of Jio's operations.
Isha Ambani and Anand Piramal’s love story isn’t the first one witnessed by the two families.
The pipeline transports KG-D6 gas, which has steadily dipped from 69.43 million standard cubic metres/day achieved in March 2010 to just 4.3 mmscmd in Jan-March quarter.
Called JioInteract, the Mukesh Ambani owned telco said it "is poised to become the largest platform for movie-promotion and brand engagement".
Family, friends and well wishers join hands to raise toasts to these mega-industrialists.
The business tycoon has previously also visited the ancient hill temple on several occasions and made offerings, the source said.
Reliance Jio to fund a digital products and services ecosystem centred around its core service.
Jio’s future pricing strategy could induce its financially stressed rivals to increase tariffs even though this could “effectively lead to a loss of market share.”
According to two senior industry executives aware of the details, the business grew by 31% to reach Rs 15,100 crore, or about $2.3 billion, in the year ended March 2018 from Rs 11,480 crore in 2016-17.
The lender on Friday reported Rs 9,435 crore consolidated profit for the March quarter, its highest quarterly profit.
At ₹69,198 crore, Reliance Retail’s revenue in the previous financial year exceeded the combined sales of rivals Future Group, Avenue Supermart, Shoppers Stop and Tata Trent.
The digital services business, run under Jio brand, posted a net profit of Rs 510 crore in Q4FY18.
The telecom venture of Reliance has been posting positive operating profit in the past three quarters.
The Mukesh Ambani-owned firm reports profit for second quarter in a row helped by strong user additions despite fall in ARPU.
New businesses make healthy contributions as organised retail revenue jumps 134% and telecom venture continues to grow rapidly.
RIL reported 17.30 per cent YoY rise in net profit at Rs 9,435 crore for the March quarter.
Revenue rose 3.6% sequentially to Rs 7,128 crore.
Consolidated sales rose 29.34 per cent YoY to Rs 1.2 lakh crore from Rs 92,889 crore.
RIL’s disruptive entry into consumer-facing businesses like telecom (Jio) could have played a role in accelerating these changes.
Brokerages expect the oil major to report a sequential drop in GRMs to $11-11.3 per barrel.
The minister said the government needed data for policy making but the data procured should be anonymous.
Bharti Airtel, however, remained India’s biggest phone company with 295.78 million customers, while Reliance Jio’s subscriber base swelled to 177.13 million, end-February.
Ambani’s wealth has risen to $29.9 billion, up $7.10 billion from what it was on Dec 31.
The Shenzhen-headquartered company has offered a term sheet for a transaction that could potentially value the six-year-old company at a pre-money valuation of $400-$450 million.
The top-rated company has raised Rs 2,500 crore from Axis Bank, the sole arranger for the five-year money, two people familiar with the matter told ET.
The source did not mention the timeline for raising the loan from Japanese banks and said, "The agreement is yet to be signed."
Reliance Jio is reportedly in talks with Qualcomm to bring out laptops, running on Windows 10 OS, with built-in cellular connections for the Indian market.
The young couple spent their first year as husband and wife in London, pursuing their higher studies.
A deal with Reliance would allow two funds that invested in Embibe in 2013 to exit. Kalaari Capital and Lightbox Ventures had put in about $4 million, or close to Rs 25 crore together
The apex court today allowed creditors to go ahead with assets sale of Reliance Communication for monetization in accordance with the law of land.
Mukesh Ambani's daughter has chosen to follow in her mother’s footsteps.
In its 14 matches, the Mumbai team got 18.57 million impressions on average per match, or viewers at any given point of time during the telecast.
S&P Global Ratings says the capital expenditure by the operator of the world’s biggest refining complex will help reduce leverage and increase earnings over the next three years.
This move by the telco may help prevent subscribers from deflecting to other operators who have been matching Jio's offers.
The Kotak Committee feels that if both MD and chairman roles are held by the same person, it limits independence of the board to question the management.
Akash Ambani, an alumnus of Brown University, USA, has been steering Reliance’s busiest and buzziest venture, Jio.
Newcomer Jio continued its steady climb in terms of customer market share, taking it to 14.62%, up from 13.71% in December.
Reliance Retail board has agreed to offer 800 million non-cumulative optionally convertible preference shares of Rs 10 at a premium of Rs 40 per share worth Rs 4,000 crore to existing shareholders.
The comments follow the Supreme Court order earlier in the day that status quo be maintained on RCom's sale of certain assets to Reliance Jio on pleas by a consortium of banks.
Itel, which is among the top three players in the feature phone segment in India, is part of the Transsion Group that also sells handsets under Tecno and Infinix.
The company added that majority of bond holders in London had voted in favour of approving resolutions, which allow RCom to sell assets.
Flipkart's co-founders Sachin and Binni Bansal made their debut at 86th position with a net worth of USD 1.3 billion each.
Anil Ambani-controlled RCom is rushing against time to close the sale of most of its wireless assets to Mukesh Ambani-owned Reliance Jio Infocomm by March-end to avoid it landing in the bankruptcy court.
Reliance Jio and Bharti Airtel are locked in a bitter fight for subscribers and need to invest in expanding their 4G network.
Retail sales have become more viable for private-sector refiners ever since Prime Minister Narendra Modi’s government scrapped diesel-price controls in October 2014.
The diamond industry had no sparkle for diamantaire Russell Mehta’s daughter.
A year ago, the Modi govt had unveiled a policy allowing telcos to sell bulk voice minutes and bandwidth to smaller entities — categorised as MVNOs.
Jio has catapulted India as the world's largest mobile broadband data consuming nation in less than 2 yrs. It has transformed India by making data abundant.
The e-Residency programme to offer startups access to a govt-issued digital ID, thereby, enabling a global EU company to work from anywhere in the world.
Jio has signed up more than 50,000 online merchants already for the wallet service, and could soon start supporting transactions on online marketplaces.
Mukesh Ambani’s daughter Isha Ambani is rumoured to have received admissions to both Harvard and Stanford.
RIL chairman Mukesh Ambani was impressed with dance group Seher's performance at the Rashtrapati Bhavan last month.
"@CCI_India approves acquisition of RCOM's towers, optic fiber cable, right to use spectrum and media convergence nodes by RJIO," the anti-trust regulator tweeted.
There are a record 2,208 billionaires in the world today.
The order came in an arbitration battle being fought between Ericsson and RCom with the Swedish equipment maker trying to recover its dues worth Rs 1,012 cr.
Ericsson has sought relief from the tribunal over payments that the Anil Ambani-led RCom owes to it.
A spokesperson for RCom — which is trying to pare its Rs 45,000-crore debt — said the operator will soon move the high court against the order.
In a letter to, COAI has further cautioned the Mukesh Ambani-led carrier with legal action for “false and malicious imputations”.
Data showed that lifted by RIL's shares, the Mukesh Ambani-led Reliance group witnessed a Rs 1.28 lakh cr jump in its market value during the two-year period.
Mukesh Ambani's eldest son Akash may soon be betrothed to Shloka, the youngest daughter of Russell Mehta, Managing Director, Rosy Blue India, one of the country's leading diamond companies.
The telecom company , launched in September 2016, has garnered more than 160 million subscribers.
The Ambani owned operator with 160 million subscribers refused to buy the industry body’s reasons.
Naidu said, "I can proudly say that my success rate is more than 50%, which is considered the highest for any state in India through partnership summits."
Jio Payments Bank could help Ambani extract more from each customer, now that he's decided to start charging telecom fees.
Ambani depends on kids Isha and Akash to help him stay connected to his young employee base.
Ambani said RIL has rebuilt the next-generation digital communication services to benefit farmers, small, medium and large business, hospitals, schools, colleges, and universities.
In a recent tariff order, Trai dropped the data traffic volumes metric for assessing whether a telco is an SMP, and restricted the definition to a telco’s mobile revenue and subscriber market shares only.
The Mukesh Ambani-owned telco in turn has condemned the comments against the sector regulator and what it called the fair regulatory process, and warned of legal action.
As part of the deal, an overseas subsidiary of RIL will acquire Eros’ shares for $15 a piece, at an 18% premium to the last closing price.
If Ambani can double the customer count, and get $4 from each of them, investors will get a decent return. Anything less, and the joy may be short-lived.
He did not offer more details like the location of the proposed mega investment or when the first phase will begin.The summit is being inaugurated by Prime Minister Narendra Modi.
Mukesh Ambani-led Reliance Industries has entered into ecommerce fashion retail though a platform called AJIO, targeting India’s online spenders.
The final price per plane could not be under $212 million... Yet, the media reported the official dogma of 126 planes for $10.4 billion: Author
Tirupati, which already has a large mobile manufacturing cluster of domestic handset manufacturers such as Celkon, Micromax, Lava and Karbonn, will now house the facility of Reliance Jio.
The 2018 Robin Hood Index of Bloomberg estimates that India's richest person, Mukesh Ambani could run the Indian government for 20 days.
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