Reliance
Reliance Infra in talks with Cube Highway for sale of 4 road assets
Singapore-based Cube Highways is promoted by I Squared Capital, a wholly owned subsidiary of the Abu Dhabi Investment Authority, International Finance Corporation and a consortium of Japanese investors including Mitsubishi Corporation and Japan Overseas Infrastructure Investment Corporation.
E-comm rules: Fight between Amazon, Flipkart vs Reliance, Tata to intensify
Foreign brokerage, Jefferies said in a note, "The proposed rules now target indirect ownership in vendors, own label, flash sales. Fight between foreign cos (Amazon, Flipkart) & Indian cos (Reliance, Tata Grp) is set to intensify". nIndia's e-commerce industry faces complex regulations, the note said. While B2B & single brand retail have a stable framework, FDI in inventory-led e-comm. is prohibited.
ADNOC, Reliance sign pact for chemical project in Ruwais
The two on Tuesday announced that through the agreement, Reliance will join a new world-scale chlor-alkali, ethylene dichloride and polyvinyl chloride (PVC) production facility at TA'ZIZ in Ruwais, Abu Dhabi. The agreement capitalises on the growing demand for these critical industrial raw materials and leverages the strengths of ADNOC and Reliance as global industrial and energy leaders.
RIL can catalyse investments of over $200 bn: Mukesh Ambani
Addressing RIL's annual general meeting (AGM) here on Thursday, Ambani noted that in the last 10 years, Reliance has invested over $90 billion in creating substantial wealth for the nation and value for the shareholders. "Reliance has the capacity to catalyse investments of over $200 billion directly and through partners. These investments will create value on an exponential scale.
RIL unveils Rs 60K cr green energy plan, to build 4 Giga factories
During the 44th annual general meeting of RIL, Ambani said the investment would go into the setting up of four Giga factories that will manufacture and fully integrate all the critical components of the new energy ecosystem involving production of solar energy, storage of intermittent energy, production of green hydrogen and converting hydrogen into motive and stationary power.
Industry, govts and civil society must work as a coalition: Mukesh Ambani
Addressing the Qatar Economic Forum, Ambani spoke about the biggest challenges for the industry as the world emerges from the Covid-19 pandemic. "Well, I think that one of the challenges is to make sure that we get rid of the vaccination divide. It is critical that bulk of the developed world will be vaccinated by the end of the year.
Retail business likely to be RIL's next growth engine
A Goldman Sachs report noted that after growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 due to Covid related macro headwinds. "However, we believe retail business (including e-commerce) is set to be the next growth engine for RIL, with potential for retail EBITDA to grow 10x over the next 10 years," it said.
Reliance Retail best placed to win share in fresh food, rapidly accelerate store rollout
Reliance Retail is best placed to win share in fresh food, rapidly accelerate store rollout and target the widest assortment through multiple formats and channels, Goldman Sachs said. Organised grocery retail has seen two major shifts due to the pandemic-a shift to online and omni-channel and entry into large, new categories, which pre-Covid had been considered less profitable, like fresh food and dairy, the report added.
Reliance Group market capitalization surges 1,000% to nearly Rs 8K cr
The market cap of the group, which stood at Rs 733 cr in March, jumped to Rs 3,890 cr in May 2021, and Rs 7,866 cr on the last trading day of this week i.e. June 18, 2021. The market capitalization of the group companies, Reliance Infrastructure, Reliance Power, and Reliance Capital has more than doubled over the last 20 trading days.
Reliance Power board approves preferential issue of shares, warrants to Reliance Infra
The Board of Directors of Reliance Infrastructure Limited (Reliance Infra) at its meeting on Sunday approved the subscription of the preferential issue. This will reduce Reliance Power standalone debt by Rs 1 ,325 crore and along with planned debt reduction in subsidiaries, Reliance Power consolidated debt will reduce by Rs 3,200 crore in FY22.
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