RELIANCE INDUSTRIES CHAIRMAN
Masayoshi Son outlines vision to make India global chip capital
SoftBank founder Masayoshi Son met Prime Minister Narendra Modi and portfolio founders and CEOs on Wednesday as part of his ongoing India visit. In one-on-one conversations with several Indian entrepreneurs from SoftBank¡¯s portfolio, Son said he plans to make India the chip capital of the world amid the artificial intelligence (AI) boom.
SoftBank's Masayoshi Son meets InMobi's Naveen Tewari to explore potential AI, consumer tech collabs
In 2011, the Japanese firm made a landmark investment of USD 200 million in InMobi, marking its first venture into the Indian market. Glance is a platform developed by InMobi that enhances the smartphone user experience by providing personalised content directly on the lock screen.
OpenAI allows employees to sell shares worth $1.5 billion to SoftBank
Employees have until December 24 to decide whether to participate in the newly disclosed tender offer. The deal was reportedly driven by SoftBank's billionaire founder and CEO Masayoshi Son, who pressed for a larger stake in the startup after putting $500 million into OpenAI¡¯s last funding round.
SoftBank founder Masayoshi Son to meet PM Modi
Masayoshi Son, founder of SoftBank, will meet with Indian Prime Minister Narendra Modi on Wednesday, according to a source. Son also met with Mukesh Ambani, chairman of Reliance Industries, on Tuesday. The two discussed artificial intelligence opportunities in India. Neither SoftBank, Reliance, nor Modi's office responded to requests for comment.
SoftBank founder Masayoshi Son to meet Indian PM Modi
SoftBank's billionaire founder Masayoshi Son will meet Indian PM Narendra Modi, after discussing AI opportunities with Mukesh Ambani, Reliance Industries chairman.
Reliance Industries shares in focus after completion of Rs 70,352 crore JV with Disney
Reliance Industries' shares will be in focus following the completion of the Viacom18-JioCinema-Disney merger, valued at Rs 70,352 crore. The joint venture, controlled by RIL, aims to consolidate media assets and create India's largest integrated media platform. With a strong portfolio of content and sports rights, it aims to reshape entertainment options for Indian consumers.
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Merger concludes! Viacom18-Star India valued at Rs 70,000 cr
Viacom18 and Star India have merged to create India's largest media and entertainment company. The new entity is valued at $8.5 billion. Reliance Industries and The Walt Disney Company received regulatory approvals for the merger. The combined company will be called Jio Star. Jio Star will have over 100 TV channels and two streaming platforms, JioCinema and Hotstar.
RIL, Viacom18 and Disney complete merger to create a Rs 70,352 cr JV
Reliance Industries Limited, Viacom18, and The Walt Disney Company have finalized the merger of Viacom18's media and JioCinema businesses with Star India. The newly formed venture, valued at approximately US$8.5 billion, brings together popular brands like 'Star', 'Colors', 'JioCinema', and 'Hotstar' under a single umbrella.
Why Ambani the hydrocarbon king is betting on a humble business
Reliance Industries, led by Mukesh Ambani, is pivoting towards clean energy by investing heavily in compressed biogas (CBG) plants. This move aligns with India's push for a gas-based economy and aims to utilize agricultural waste to produce cleaner fuel, potentially reducing reliance on LNG imports and addressing the issue of stubble burning.
Medical devices industry welcomes government's Rs 500-crore scheme
India's medical device industry is celebrating a new ?500 crore government scheme designed to boost domestic manufacturing and reduce reliance on imports. The scheme will fund key initiatives such as manufacturing essential components, developing shared infrastructure, and supporting clinical studies, ultimately aiming to position India as a global leader in medical technology.
Medtech leaders welcome govt's move to launch Rs 500 crore scheme for medical devices
The Union Minister of Health and Family Welfare, Jagat Prakash Nadda, in an attempt to uplift the medical device industry, launched the "scheme for strengthening the medical device industry." The medtech leaders hope to increase self-reliance in terms of medical devices and increase domestic manufacturing of the same with this scheme.
Central Apprenticeship Council reconstituted for three years
India's Ministry of Skill Development and Entrepreneurship has reformed the Central Apprenticeship Council, appointing new members for a three-year term. The council, led by Minister Jayant Chaudhary, advises the government on apprenticeship programs and the Apprenticeship Act. The council includes representatives from government, public and private sectors, and industry experts to promote and guide apprenticeship training nationwide.
From Reliance to Unilever, firms worried about low consumer demand in India
Consumer companies in India are struggling with declining urban middle-class spending due to inflation and unemployment. Major firms, including Reliance and Hindustan Unilever, have reported weaker demand and challenging conditions. Urban demand growth has been falling for five quarters, affecting key sectors like entry-level cars, fashion, and lifestyle products.
India vs. China: TikTok founder Zhang Yiming is China's richest person but is only half as wealthy as India's Mukesh Ambani
ByteDance founder Zhang Yiming is now China¡¯s richest person with net worth of $49.3 billion. India's richest man Mukesh Ambani has a significantly higher net worth of $102 billion. China¡¯s total billionaire wealth decreased by 10% while India's billionaires increased. The Hurun China Rich List saw the lowest new additions in two decades.
India can build and export next-gen AI software, says Nvidia CEO Jensen Huang
Huang described the current state of the industry as undergoing a "seismic change" due to AI advancements and suggested that India, which has traditionally been a hub for software exportation, is poised to become a leader in AI exportation in the future.
India will be fastest emerging global innovation hub: Mukesh Ambani
Speaking at the Nvidia AI Summit in Mumbai on Thursday, Mukesh Ambani said India is now one of the top countries in digital infrastructure, alongside the US and China,
Nvidia rolls out Hindi-language AI model in India as CEO Huang visits
Nvidia is rolling out its new small language model, dubbed Nemotron-4-Mini-Hindi-4B, with 4 billion parameters, for firms to use in developing their own AI models, the company said. "The model was pruned, distilled and trained with a combination of real-world Hindi data, synthetic Hindi data and an equal amount of English data," it said in a statement.
Pepsi & Coca-Cola exploring launching budget-friendly drinks as Reliance¡¯s Campa gains ground in regional markets
PepsiCo and Coca-Cola are considering cheaper soft drinks for regional markets to counter Reliance Consumer Products' Campa. Campa's aggressive pricing and higher trade margins are challenging the existing market dominance. Both cola giants aim to preserve their core brand value and margins while addressing the competition through strategic regional pricing and promotions.
Why Mukesh Ambani can jump into India's war on inflation
Reliance Industries may soon sell Bharat brand food items like atta, rice, and pulses at subsidised prices. This partnership with the Indian government could help control inflation and boost Reliance's reach in rural and semi-urban areas. The move aligns with Ambani's strategy to tap into the emerging consumer base in smaller towns.
Hackers target India¡¯s biggest brands: How major firms like Tata and Reliance are strengthening cyber defences
Indian companies are grappling with a sharp rise in cyberattacks, nearly double the global average. Large conglomerates like Reliance and Tata are targeted due to their extensive data and reputation. Boards are increasingly vigilant, mandating regular cybersecurity audits and enhanced protection measures.
Elon Musk reacts to Scindia, says Starlink will do its best to serve people of India
Elon Musk¡¯s Starlink aims to serve India after the government decided to allocate satellite spectrum administratively. This follows criticism from Musk against auctioning satellite spectrum. Indian communications minister, Jyotiraditya Scindia, confirmed the allocation would be at a cost set by the telecom regulator. Mukesh Ambani and Sunil Mittal's companies are also involved.
'Ratan Tata was a mentor to Akash Ambani': Nita Ambani shares the business leader's personal connection with Ambani family
At the Reliance Industries annual Diwali dinner, the Ambani family and leadership honored Ratan Tata, who passed away at 86, celebrating his contributions to Indian industry and society. Nita Ambani highlighted the deep connections between Tata and her family, emphasizing his role as a mentor to her son.
RIL profit slips 3.6% on weak O2C show
?Consolidated profit after tax fell to ?19,101 crore from ?19,820 crore in the year earlier. Net profit attributable to owners of the company was down 4.7% to ?16,563 crore from ?17,394 crore a year earlier. Revenue from operations increased marginally by 0.2% to ?2.35 lakh crore from ?2.34 lakh crore in the year earlier.
Jio Platforms Q2 net rises 23% on tariff hikes, strong data demand
The rate hikes helped grow the average revenue per user (ARPU) by 7.3% from a quarter earlier to Rs195.10 for India¡¯s telecom market leader. But it lost 10.9 million subscribers from the prior quarter to mainly state-run Bharat Sanchar Nigam Ltd that didn¡¯t raise rates, said analysts. This was the first time in 12 quarters that it posted a fall in subscriber count.
Reliance Jio Q2 Results: Profit jumps 23% YoY to Rs 6,539 crore, revenue up 18%; ARPU rises 7% to Rs 195.1
Reliance Jio Q2 Results 2024: Reliance Jio Infocomm on Monday reported a 23.4% jump in its September quarter consolidated net profit at Rs 6,539 crore versus Rs 5,299 crore reported by the company in the year ago period. The revenue from operations stood at Rs 31,709 crore, higher by 18% over Rs 26,875 posted by the company in the corresponding quarter of the previous financial year.
Reliance Retail Q2 Results: Profit rises 1.3% YoY to Rs 2,836 crore, revenue declines by 3.5%
Reliance Retail Q2 Results: Company experienced a 3.5% decline in revenue, reaching Rs 66,502 crore compared to Rs 68,937 crore in the same quarter last year. This dip was attributed to weaker demand in the fashion and lifestyle sector, along with a strategic focus on streamlining operations and adjusting its B2B approach to boost margins. Despite this, the retail arm still generated a substantial gross revenue of Rs 76,302 crore, though this figure also represents a 1.1% drop year-on-year.
RIL Q2 Results: Net profit falls 5% YoY to Rs 16,563 crore, but beats estimates
Reliance Industries Q2 Results: The company exceeded profit forecasts in the second quarter, despite a marginal 0.2% YoY revenue growth to Rs 2.35 lakh crore and a 2% decline in EBITDA. The company's profit beat the ET Now poll estimate of Rs 15,716 crore, signalling strength despite the slight dip in revenue and EBITDA. EBITDA margins also decreased by 50 basis points to 17%.
Reliance Industries, Disney India merger expected to close in 3Q FY25
The merger of Reliance Industries' media assets with Disney India is set to complete in the third quarter of FY25. The Competition Commission of India has approved the transaction, and the National Company Law Tribunal has sanctioned the merger scheme. The combined entity will be valued at over ?70,000 crore, with Reliance holding 63.16% and Disney 36.84%.
Mukesh Ambani's $108 bn net worth places him on top of Forbes 2024 rich list as India's collective wealth surpasses $1 tn
Mukesh Ambani, chairman of Reliance Industries, leads the 2024 Forbes list of India's richest, with a net worth of $119.5 billion. The combined wealth of India's top 100 tycoons has surged to over $1.1 trillion, marking a 40% increase from last year. The wealth growth is attributed to a booming stock market, with over 80% of individuals on the list becoming wealthier, driven by strong investor interest in IPOs and mutual funds.
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