Page 5 - Reliance Group

Reliance General Insurance, OLA Electric to enhance 2W customer experience

Under this alliance, both companies will aim to transform the total ownership of OLA customers

Reliance Retail opens Metro Cash & Carry stores; to continue wholesale biz

Last December, Reliance Retail Ventures acquired Metro Cash and Carry India for Rs 2,850 crore

Collectives, credit, convergence: Roadmap to make 20 mn women 'lakhpatis'

A pathway to having an inclusive India is achievable, writes Amarjeet Sinha

RIL AGM LIVE: Mukesh Ambani to remain CMD for 5 years, mentor new leaders

RIL AGM: From Mukesh Ambani's address to major announcements, check all the live updates and news related to Reliance's 46th annual general meeting here

Reliance AGM: Where and how to watch Reliance's 46th annual general meeting

Reliance AGM 2023: Mukesh Ambani, chairman of Reliance Industries, will address the shareholders and talk about the company's past performance as well as further plans

Reliance Retail Ventures may sell another 8-10% stake to prepare for IPO

Further dilution of stake might make its IPO size manageable

Bail formalities completed, ex-cop may walk out of jail in Antilia case

A special NIA court here on Thursday set bail conditions for former policeman Pradeep Sharma, an accused in the Antilia bomb scare case and killing of businessman Mansukh Hiren, and accepted his plea for provisional cash bail. Sharma is likely to walk out of jail on Friday as the formalities for release on bail were complete, his lawyer Subhash Jadhav said. The Supreme Court on Wednesday granted bail to the former 'encounter specialist' officer of Mumbai police. Arrested in June 2021, he is currently lodged at a jail in Pune. The special NIA court, presiding over the Antilia-Hiren case, asked Sharma to submit a personal bond of Rs 25,000 and surety of the same amount. The court also directed Sharma to inform his latest place of residence and mobile contact number to National Investigation Agency, Mumbai in case of any change. On February 25, 2021, an explosives-laden SUV was found near industrialist Mukesh Ambani's residence 'Antilia' in south Mumbai. Businessman Hiren, who was

ABB India bags order to automate Reliances' biopharmaceutical facilities

ABB India on Monday announced that it has secured a major automation contract from Reliance Life Sciences (RLS) to automate its new manufacturing plants in Nashik. However, the company did not disclose the value of the order. ABB India has secured a major automation contract from Reliance Life Sciences (RLS) to automate its new manufacturing plants in Nashik, Maharashtra, a company statement said. RLS' 160-acre facility at Nashik will house manufacturing plants for plasma proteins, biopharmaceuticals, oncology pharmaceuticals and vaccines. Large-scale biotechnology production presents distinct and complex process and automation challenges. These processes adhere to strict regulatory guidelines to ensure product quality, and ABB's System 800xA solution reduces manufacturing errors and ensures high-quality yields. It connects seamlessly with various skid systems and is used extensively for seamless operator interaction, batch control and production information on the factory floor.

Reliance, Vodafone, Airtel may increase their headcount by 25% in FY24

Reliance Jio's total headcount at FY23 end was 95,326; Airtel's headcount was 64,407; and Vodafone Idea's was 15,604

Jio Platforms' subsidiary Radisys completes acquisition of Mimosa Networks

Jio Platforms' subsidiary Radisys Corporation on Friday announced that it has completed the acquisition of Mimosa Networks, Inc. from Airspan Networks Holdings Inc. Earlier this year, the companies had announced the deal under which Radisys Corporation signed a definitive agreement with US-based Airspan Networks Holdings for the acquisition of Mimosa Networks for USD 60 million on a debt-free, cash-free basis. According to a release on Friday, "Radisys Corporation, a wholly owned subsidiary of Jio Platforms Limited and a global leader of open telecom solutions, today announced that it has completed the acquisition of Mimosa Networks, from Airspan Networks Holdings Inc." With this, Mimosa has become a wholly-owned subsidiary of Radisys. Radisys' acquisition of Mimosa will accelerate the availability of broadband access for advancing societies, the release said. Mimosa offers a diverse portfolio of point-to-point and point-to-multi-point connectivity products leveraging unlicensed ..

Reliance ARC challenges Vidarbha Industries Swiss Challenge process

Reliance Asset Reconstruction Company (ARC), a subsidiary of Reliance Capital, has challenged the method of Swiss Challenge bidding being held by SBI Caps for the sale of debt of Vidarbha Industries Power Ltd (VIPL). The company has also challenged the Reserve Bank of India's Master Circular on the Swiss Challenge Mechanism as being discriminatory and arbitrary as it gives unjust and unfair advantage to the anchor bidder, sources said. In a writ petition filed before the Bombay High Court, the Reliance ARC has stated that clause 85 of the RBI's Master Direction (Transfer of Loan Exposure) accords unlimited rights to the anchor bidder to match any bid from the challenger bidders in the Swiss Challenge process, which discourages the competition and defeats the principle of maximization of value for the banks and lenders. As per the clause 85 of the Master Direction, in a Swiss Challenge process once an Asset Reconstruction Company (ARC) has placed a bid for acquiring a stressed asset

SBI Caps asks ARCs to make final offers for Vidarbha Industries' debt

Aditya Birla ARC has joined hands with Varde Partners of Singapore to acquire the company's debt, said a banking source

JioBook: Reliance Jio may launch its second-generation laptop on July 31

While it does not appear that the JioBook (2023) will have many visible design changes, it is expected that the new device will have internal upgrades

Reliance Strategic Investments reports Rs 1.45 bn Q1 net profit after tax

In a BSE filing the company further informed that Reliance strategic investments ltd.'s total income from operations was recorded at 2.15 billion rupees in June quarter

Reliance to acquire Alia Bhatt-promoted kidswear brand Ed-a-Mamma

Reliance Brands, part of Reliance Retail Ventures Ltd (RRVL), is planning to buy Ed-a-Mamma, a kidswear brand promoted by Bollywood actress Alia Bhatt, according to an industry source. The leading retailer would ultimately acquire the company, which specialises in providing sustainable clothing options for kids at affordable rates. Talks between Reliance Brands and the kidswear retailer, which mainly sells online are in the final stages, the industry source said. According to a media report, the deal is estimated to be around Rs 300 crore. The deal would help strengthen Reliance Brands' play into the branded kidswear segment, which is rapidly growing in the country. Ed-a-Mamma brand is owned by Eternalia Creative and Merchandising, in which Alia Bhatt is a director. The company was incorporated in 2019. An e-mail sent to Reliance Brands remained unanswered by the time of filing of the story. Established in 2007, Reliance Brands has collaborated with of over 50 international bran

RIL sets July 20 as record date for Reliance Strategic Investments demerger

Billionaire Mukesh Ambnai's daughter Isha and former CAG Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd, the company said on Saturday. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). It will lend to consumers and merchants based on proprietary data analytics and will eventually branch out to insurance, payments, digital broking and asset management. Every Reliance shareholder will get one share of the new firm for every share held in the parent. While the effective date of the demerger has been fixed as July 1, July 20 has been fixed as the record day for allocating shares of the new company, according to the company's stock exchange filing. The spinoff, which will create fifth-largest financier in terms of capital and compete directly with the likes of

Indian conglomerates look towards global brands to cash in on luxury retail

In a bid to add a global flavour to the Indian retail landscape, Reliance, Tata, and a number of other Indian brands have begun a series of joint ventures with global luxury brands

Indian conglomerates look towards global brands to cash in on luxury retail

In a bid to add a global flavour to the Indian retail landscape, Reliance, Tata, and a number of other Indian brands have begun a series of joint ventures with global luxury brands

PRAHAR writes to FinMin over violation of advertisement norms by brokers

Civil society organisation PRAHAR has written a letter to finance ministry expressing concern over misleading advertisements by some insurance broking firms. Public Response Against Helplessness and Action for Redressal (PRAHAR) in a letter written to finance minister Nirmala Sitharaman alleged that some of the new-age insurance broking firms selling policies online are alluring customers by indicating Rs 1 crore amount by investing a small amount for certain number of years. Insurers and insurer intermediaries are bound by the guidelines outlined in the Master Circular on Insurance Advertisements (2019). Specifically, Clause 3.4.1.3 of the Master Circular strictly prohibits insurers from projecting future performance based on past financial results. "Where attention is drawn to insurer's past financial performance, it should indicate that the past performance is not necessarily an indication of future performance," as per the Master Circular. The organisation requested the finance

Merged HDFC Bank set to push Reliance off its perch as top weight

Both RIL's and TCS' free-float m-caps are lower compared to HDFC Bank's