Friday, 7 October, 2022
TopicReliance Industries Ltd

Topic: Reliance Industries Ltd

Mukesh Ambani’s RIL is working to produce new Covid drug, cheaper testing kits

Reliance is exploring use of a tapeworm drug, Niclosamide, as a cure for Covid & its diagnostic kits — R-Green & R-Green Pro — have been approved by ICMR.

Reliance’s balance sheet can now help growth of Jio, Retail & Oil-to-Chemicals: Mukesh Ambani

In the company's latest report, Ambani said the company sold minority stakes in Jio Platforms & retail arm for almost Rs 2 lakh crore & raised Rs 53,124 crore through rights issue.

Why the Mukesh Ambani vs Jeff Bezos fight could be more of a waiting game

By seeking to stall Ambani’s purchase of Future, Bezos may be signalling he’d rather remain a rival. Or, he’s buying time to sweeten offer currently on table.

Reliance Retail gets $1 billion from Silver Lake for 1.75% stake

Reliance announced on 9 Sept that the California-based private equity firm with stakes in technology-related companies will pay the amount as part of the deal.

With Future in his bag, Mukesh Ambani draws battle lines between Reliance, Amazon & Flipkart

RIL is set to acquire the retail, wholesale, logistics and warehousing units of Future Group for Rs 24,710 crore as Ambani pushes ahead with his ambitions in the retail sector.

Jugaad and Covid pose new threats to India’s diesel consumption

Rise of natural gas & electric vehicles will crimp diesel demand over longer-term, but coronavirus is adding to the pressure by cutting economic activity.

With Reliance halting imports, Venezuela’s oil crisis just got worse

Reliance Industries accounted for 25% of Venezuela’s oil exports last year. It is the latest buyer to shun oil produced by the regime of Nicolas Maduro.

Mukesh Ambani, Asia’s wealthiest man, joins club of world’s 10 richest

After securing a flurry of investments for Jio to make Reliance Industries net-debt free, Ambani's net worth jumped to $64.5 billion, making him the only Asian in the exclusive club.

After luring $10 billion of investment, Mukesh Ambani plans foreign IPO for Jio Platforms

Reliance is preparing Jio Platforms for an IPO outside India and the offering could happen in the next 12 to 24 months.

Reliance cuts salaries, Mukesh Ambani won’t get any pay this year

Loss of demand for refined oil products and plastics has put pressure on the hydrocarbons business forcing Reliance to reduce costs.

On Camera

YourTurn

Jaishankar to embark on his 1st visit to New Zealand from Oct 5

G20 has 5 daunting challenges and India’s presidency can turn this crisis into opportunity

India should highlight its leadership in low-cost vaccine tech, effective health immunisation delivery, generic pharmaceutical manufacturing, and solar energy.
Falguni Nayar, Nykaa's founder & CEO, and Sima Ganwani Ved, Apparel Group's founder & chairwoman, pose for a picture during a strategic alliance announcement in Mumbai, on 6 October 2022 | Reuters

Nykaa forge ties with Dubai’s Apparel Group to expand business in Gulf countries

Falguni Nayar, the online retailer founder and CEO, said the two companies would together build a multi-brand beauty retail business with Nykaa holding a 55% stake of the entity.

Defence

Rescue operation underway after an army aviation Cheetah helicopter flying in the forward area near Tawang crashed during a routine sortie Wednesday | ANI

Multiple military & civilian chopper crashes in past years highlight a disturbing trend for India

An Indian Army Aviation Cheetah helicopter crashed Wednesday. Several such crashes over past few yrs have jolted the military. Non-military sphere, too, has encountered many crashes.

India’s hijab supporters will lose even if they win SC battle. Because the real war is political

In a highly polarised time, cornered minorities tend to lean back and protect the roots and fundamentals of what is so dear to them. Politically, it can often be a bad trap.
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