Mukesh ambani

RIL Chairman Mukesh Ambani. (Image: Moneycontrol) Billionaire Mukesh Ambani’s Reliance Industries Ltd can explore reorganization of the company into three independent entities for different business verticals as it prepares to list subsidiaries and induct next-generation of the founding family into key roles, a report said. This, a report by Kotak Institutional Equities, would help prevent any holding company discount in Reliance as and when its subsidiaries list, prepare for eventual management change and preclude inter-linkages between entities as and when they become independent, listed entities. India’s most valuable company has three distinct businesses — oil refining and petrochemicals business house in oil-to-chemicals (O2C) unit, digital business including telecom and retail.” Reliance can explore reorganization of the company into three independent entities for its three different business verticals as it prepares to list its subsidiaries and induct … [Read more...] about Reliance can explore reorganising company to list subsidiaries: Report

Representative image Gautam Adani, chairman of the Adani Group has topped the IIFL Wealth Hurun list of India's richest Indians in 2022, with Reliance Industries' Mukesh Ambani securing the second position. Adani has moved into the top spot and is the richest man in India with a wealth of Rs 10.94 lakh crore. Adani 's wealth has more than doubled by 116 per cent in the last one-year and added Rs 5.88 lakh crore in absolute terms. For the first time in ten years, Mukesh Ambani lost the top ranking despite his wealth increasing by 11 per cent in the last year. His wealth is pegged at Rs 7.94 lakh crore and has increased by 115 per cent in the last five years, according to IIFL Wealth. Also Read: IIFL Wealth Hurun India Rich List 2022: 43 real estate developers make it to the list Cyrus S Poonawalla of Serum Institute of India secured the third position on the list with his wealth increasing by Rs 41,700 crore in the last one year. Poonawalla's privately held company … [Read more...] about Gautam Adani tops IIFL Wealth Hurun list of richest Indians, startup founders make a big entry

Reliance Jio chairman Akash Ambani has rolled out JioAirfiber Home Gateway, a wireless plug-and-play single device wifi hotspot that will allow consumers to access fiber-like, ultra-high-speed internet at homes and offices. With JioAirFiber, it will be easy to connect any home or office to Gigabit-speed Internet, Ambani said during the company’s 45th annual general meeting on Monday. He said, “With the 5G services being rolled out in India, the current 800 million connected internet devices will double to 1.5 billion connected internet devices in just a year”. ALSO READ: Jio 5G by Diwali: Fastest network to connect India's every corner by end-2023: Mukesh Ambani Let's take a look at what JioAirFiber is, how it will work, and whether there are other players in the market offering similar products. Close What is AirFiber? AirFiber works on radio-based solutions and is wireless. AirFiber uses fixed broadband technology to deliver the same high speeds … [Read more...] about MC Explains | What is JioAirFiber and how does it work?

Share to Twitter Share to Linkedin Gautam Adani was the world’s third-richest person for a brief period this afternoon, when his net worth rose to $150.6 billion on Forbes’ Real-Time billionaire rankings . Adani surpassed Amazon founder and chairman Jeff Bezos , whose fortune had dipped nearly $10 billion to $150.2 billion, after shares of the e-commerce giant dropped 7% in New York on Tuesday. The difference between the two net worths has become so narrow, their positions in the ranking seem likely to change again in the near future. Elon Musk continues to have a firm hold on the top spot of the global wealth ranking with a net worth of $265.6 billion, while the No. 2 position is held by French fashion tycoon Bernard Arnault with $165.3 billion. Adani’s wealth has almost trebled since last year as shares in his companies have soared on the back of a rapid expansion amid rising energy prices. The infrastructure tycoon owns stakes in six … [Read more...] about Indian Billionaire Gautam Adani Briefly Becomes The World’s Third-Richest Person

Share to Twitter Share to Linkedin A dani Group chairman Gautam Adani surpassed LVMH chairman and CEO Bernard Arnault Friday and is now the world's second-richest person with a net worth of $155.5 billion on Forbes’ Real-Time billionaire rankings , increasing $5.2 billion or 3.49% from yesterday. Arnault, whose fortune is $300 million behind Adani's at $155.2 billion, slipped to No.3. Adani has also overtaken Amazon chairman and founder Jeff Bezos whose fortune dropped $2.3 billion or 1.49% to $149.7 billion. Tesla CEO Elon Musk remains the world’s richest person with a net worth of $273.5 billion. Adani owns stakes in six publicly traded companies that operate in ports, airports, green energy, data centers, and more. Adani became Asia’s richest person in February this year when he overtook fellow Indian billionaire Mukesh Ambani, whose current net worth of $93.4 places him at No. 8 in the world rankings. Shares of Adani’s … [Read more...] about Indian Billionaire Gautam Adani Scales New Heights To Become The World’s Second-Richest Person

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Adani Wilmar Ltd., the kitchen essentials firm owned by Gautam Adani, is scouting for local and overseas acquisition targets as Asia’s richest man doubles down on boosting his empire’s food operations weeks after Reliance Industries Ltd. announced plans to launch a consumer goods business. “We are looking at acquiring brands in staple foods and distribution companies to boost our consumer goods offering and reach,” Angshu Mallick, chief executive officer and managing director at Adani Wilmar, said in an interview Wednesday. “We are expecting to conclude a couple of acquisitions by March.” The company has earmarked 5 billion rupees ($62.9 million) from its initial public offering for purchases, Mallick said. Additional funding will come from internal accruals and the 30 billion rupees of … [Read more...] about Billionaire Adani’s unit eyes acquisitions to push food business

Karan Adani, the elder son of Gautam Adani, is set to oversee the family’s scaled-up cement business, according to people familiar with the matter, as the rapidly expanding conglomerate seeks to integrate the two cement companies it acquired for $10.5 billion in May. Besides bringing in his son, the Indian billionaire is also planning to enlist key senior executives to help grow the cement business and mentor Karan, according to the people, who asked not to be identified as the information is private. Karan, 35, is currently the chief executive officer of Adani Ports and Special Economic Zone Ltd. He’s expected to find synergies between the group’s ports and cements businesses in order to create an integrated logistics firm, the people said. An announcement on Karan’s appointment could come as soon as Friday, the people said. A representative for Adani Group declined to comment. Gautam Adani has surged to prominence this year, as an eye-catching leap in his fortune made him … [Read more...] about Gautam Adani’s son to oversee newly acquired cement companies

Share to Twitter Share to Linkedin Jay Shah, Indian cricket’s bespectacled, slick boss, confidently predicted its money-spinner would become the world’s second-richest sports league, behind the all-conquering NFL. It wasn’t merely bluster ahead of the e-auction with the Indian Premier League’s TV and digital media rights for its next cycle from 2023-27 selling for a mammoth $6 billion. In a stretched-out event spanning three days, ensuring maximum coverage to further emphasize the gaudiness of cricket’s behemoth, Disney-owned Star India won the TV rights for the league for $3.01 billion while the online streaming rights were acquired by Viacom18—a joint venture between Paramount PARA and billionaire Mukesh Ambani-owned TV18—for $3.04 billion. International streaming rights were secured by Viacom18 and Times Internet. “Since its inception, the IPL has been synonymous with growth and today is a red-letter day for India Cricket. ... IPL is now the … [Read more...] about Indian Premier League’s Jaw-Dropping $6 Billion Broadcast Deal Will Have Major Ramifications In Cricket

Prime Minister Narendra Modi Prime Minister Narendra Modi will inaugurate 5G services in the country at India Mobile Congress at Pragati Maidan on October 1. In a tweet, the National Broadband Mission, which operates under the Ministry of Communications, said, "Taking India’s digital transformation & connectivity to new heights, Hon'ble PM, @narendramodi, will roll out 5G services in India; at India Mobile Congress; Asia’s largest technology exhibition." #IMC2022 | #5GInIndia | Taking India’s digital transformation & connectivity to new heights, Hon'ble PM, @narendramodi , will roll out 5G services in India; at India Mobile Congress; Asia’s largest technology exhibition. https://t.co/a092D9GPDR pic.twitter.com/VvT2SIQvwZ — National Broadband Mission (@NBM_DoT) September 24, 2022 Subsequently, on the official website of India Mobile Congress, it was also stated that the inauguration of the event and launch of 5G services will be done by PM … [Read more...] about PM Narendra Modi to launch 5G services in India on October 1