Page 4 - Mukesh Ambani

RIL's logistics foray rides on growing retail print, govt supply-chain push

MMLP near Chennai to be key distribution hub for company in south; firm may bid for more MMLPs across country, say sources

Mukesh Ambani to bid for football club Liverpool FC's takeover: Report

Indian billionaire Mukesh Ambani has entered the race to bid for world-renowned English football club Liverpool FC's takeover, reported a leading English daily. The English Premier League giants have been put up for sale by their current owners Fenway Sports Group (FSG), who bought the Merseyside club in October 2010 and have reportedly appointed Goldman Sachs and Morgan Stanley to assist them in selling the team. According to 'The Mirror', the FSG are willing to sell the club for 4 billion British pound. Ambani, chairman and managing director of Reliance Industries and rated by Forbes as the eighth richest person in the world, has enquired about the club, the English daily reported. Few associated with the Mumbai-headquartered Indian multinational conglomerate, however, could not confirm the development. A statement from FSG read: "There have been a number of recent changes of ownership and rumours of changes in ownership at EPL clubs and inevitably, we are asked regularly about

Reliance set to acquire METRO Cash & Carry India in 500 million euros deal

Reliance Industries is set to acquire German retailer METRO AG's Cash & Carry business in India in a deal estimated at around 500 million euros (Rs 4,060 crore), industry sources said. The deal includes 31 wholesale distribution centres, land banks and other assets owned by METRO Cash & Carry here, they said. This is going to help Reliance Retail, the country's largest retailer, expand its presence in the B2B segment. Discussion between billionaire Mukesh Ambani-led Reliance Industries and METRO was going on for the past few months and last week the German parent firm agreed to the offer from Reliance Retail, they added. When contacted, both METRO and Reliance Industries declined to comment on the development. A Reliance spokesperson said, "Our company evaluates various opportunities on an ongoing basis." METRO AG's spokesperson said, "We do no comment on market rumour or speculations." METRO Cash & Carry's customers include retailers and kirana stores, hotels, restaurants

RIL: Bulls set eyes on Rs 3,500-mark as stock above support held since 2017

Domestic brokerage firm Prabhudas Lilladher, too, lowered its earnings outlook on RIL and trimmed the target price to Rs 2,892

What does demerger of the financial services biz mean for RIL shareholders?

Reliance Industries will demerge its financial services business and list as a separate entity. Will a fast-growing consumer and merchant loan book be enough to impress shareholders? Let's find out

After 5G, here's how Ambani will use financial services to tighten DNA loop

A successful fintech loans platform draws upon what the Bank for International Settlements calls a self-reinforcing "DNA loop," shorthand for data, network and activity

Top Headlines: Rishi Sunak to be UK's next PM, Samvat 2079 stocks & more

Rishi Sunak is set to become Britain's next prime minister as his rivals quit the race, which analysts said, relieved some of the nervousness around the outlook for the UK economy

Reliance Industries to demerge and list financial services business

Shareholders of RIL will receive one equity share of JFS of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.

Windfall tax impact: Reliance net profit flat in Q2 at Rs 13,656 crore

Bottomline misses estimates, net revenue jumps 37.3 per cent YoY to Rs 2.3 trillion; to list financial services arm

Reliance Retail net profit grows 36% in Q2; revenue up 44.5% YoY

Reliance Retail saw its (gross) revenue at Rs 64,920 crore, up 42.9 per cent year-on-year

Windfall tax hits Reliance; Q2 net profit flat at Rs 13,656 crore

Reliance's revenue has jumped 34 per cent to Rs 2.33 trillion

Reliance Capital binding bids submission deadline extended to November 20

Reliance Capital Committee of Creditors (COC) has decided to extend the date of submitting the binding bids from October 31 to November 20

Top headlines: CCI penalty on Google, funding winter for startups, and more

Business Standard brings you the top headlines at this hour

Mukesh Ambani purchases beach-side Palm Jumeirah villa in Dubai for $163 mn

The billionaire has been snapping up properties overseas, increasingly looking westward for second homes

Nokia, Ericsson ink multi-year contracts to power Reliance Jio's 5G network

Jio will deploy a standalone 5G network, which will interwork with its 4G network and enable it to provide services such as machine-to-machine communication, network slicing, and ultra-low latency

TMS Ep277: Ambani's family office, Vaccine waste, IT's Q2 earnings, GRAP

Why does Mukesh Ambani need a family office? How did India waste 100 mn Covid vaccines? What to expect from IT's Q2 earnings? How are GRAP measures used to combat air pollution? Answers here

Why are India's super wealthy looking abroad for family offices?

RIL Chairman Mukesh Ambani is setting up a family office. It's a trend among wealthy Indian families who set up such entities, often overseas. Find out why the India's super wealthy are looking abroad

Be it Adani, Ambani or Jay Shah, we welcome all: Rajasthan CM Gehlot

Condemning the BJP for mocking the Congress after he lavished praise on industrialist Gautam Adani during the Invest Rajasthan summit, Chief Minister Ashok Gehlot on Saturday said it was not a private programme and 3,000 delegates attended it. Be it Adani or Union Home Minister Amit Shah's son Jay Shah, Rajasthan will welcome all because it wants investment and employment, Gehlot said. "It is not a private event, it is an investors' summit. Are 3,000 delegates (who attended the summit) of the Congress?" Gehlot asked, asserting their ideologies could be that of the Congress or the BJP. "In such a situation, why do they want to create a hurdle? I condemn these people. They talked about Gautam Adani yesterday (Friday). Be it Gautam Adani or any Adani, or Ambani or Amit Shah's son Jay Shah, we will welcome all of them here. We want employment, we want investment," the chief minister said. It was not clear why Gehlot clubbed Jay Shah's name with those of industrialists Ambani and Adani

Mukesh Ambani joins the list of global rich with family office in Singapore

Asia's second-wealthiest man, Reliance Industries Ltd. Chairman Mukesh Ambani, is setting up a family office in Singapore, according to people familiar with the move.

Antilia bomb scare case: Delhi HC dismisses ex-Mumbai Police officer's plea

The Delhi High Court on Friday dismissed a plea filed by former Mumbai Police officer Sachin Waze, seeking to quash the sanction granted to prosecute him under the Unlawful Activities (Prevention) Act (UAPA) in connection with the Antilia bomb scare case. A bench of justices Mukta Gupta and Anish Dayal said there is no reason to "clothe" the high court here with the territorial jurisdiction to adjudicate the relief sought in Waze's petition, when "the alleged offence, the subsequent complaint and investigation, the FIRs and the, filing of the chargesheet and all proceedings relating thereto, including custody of the accused, have all taken place in Mumbai". "Courts at Mumbai would have the natural and logical jurisdiction to decide issues challenged in this writ petition.... The writ petition is therefore dismissed for lack of territorial jurisdiction to adjudicate the relief sought," the court said in its 15-page order. The court said the mere fact that the authority that awarded t