Mumbai: Jio has completed 5G network coverage planning for top 1,000 cities in the country and is augmenting its fibre capacity as well as running pilot across sites, a senior company official said during a presentation. The company has created teams to focus on dedicated solutions for 5G deployment in India, Reliance Jio Infocomm President Kiran Thomas said on Friday evening. "5G coverage planning has been completed for 1,000 top cities across the country. Jio has been doing trials on a...Read More

Mumbai: Reliance Jio beat street estimates on the profitability front in the third quarter while the revenues were in-line with expectations. Revenues for Q3 came in at Rs 19,347 crore against Rs 18,735 crore in the September quarter - an increase of 3.3%. Net profit was up 2.5% at Rs 3,615 crore versus Rs 3,528 crore logged in the second quarter. The operational performance beat the street expectations with EBITDA margins at 49.2% vs 48% in the last quarter. ARPU jump of 5.6% to Rs 151.60 wa...Read More

Gandhinagar: Reliance Industries Limited has signed a Memorandum of Understanding (MoU) today with the Government of Gujarat for a total investment of Rs. 5.955 lakh crore as part of Investment Promotion Activity for Vibrant Gujarat Summit 2022. These projects will create 10 lakh direct/indirect employment opportunities in the State. Shri Parimalbhai Nathwani signed MoU for Reliance Industries Ltd while Dr. Rajiv Kumar Gupta signed MoU for the Government of Gujarat. Continuing its commit...Read More

Mumbai: India’s largest and fastest growing apparel and accessories specialty chain of Reliance Retail, Trends is strengthening the connect with consumers across the small towns of Gujarat, through an interesting contest during the auspicious Uttarayana Festival. By virtue of its presence and reach in Gujarat, Trends has planned an interesting contest for its consumers across state during the kite flying festival, Uttarayan. Trends across over 40 stores in Gujarat, would be connecting wi...Read More

Mumbai: Reliance Industrial Investments and Holdings Limited ("RIIHL"), a wholly owned subsidiary of Reliance Industries Limited ("RIL"), has today, entered into an agreement to acquire the entire issued share capital of Columbus Centre Corporation (Cayman), a company incorporated in the Cayman Islands and the indirect owner of a 73.37% stake in Mandarin Oriental New York, one of the premium luxury hotels in New York City for an equity consideration of approximately US$ 98.15 million. Set up...Read More

Mumbai: Dunzo, India’s leading quick commerce player, has raised US$240M in its latest round of funding. The investment was led by Reliance Retail Ventures Limited (“Reliance Retail”), with participation from existing investors Lightbox, Lightrock, 3L Capital and Alteria Capital. With an investment of US$200M, Reliance Retail will own 25.8% stake on a fully diluted basis. This round is a reinstatement of confidence of existing and new investors in Dunzo’s potential and success in creatin...Read More

New Delhi: The Delhi High Court on Wednesday stayed the Amazon-Future arbitration which is going on before a three-member arbitral tribunal over the latter's Rs 24,500-crore deal with Reliance. The high court also stayed a single judge's January 4 order that had dismissed the Future Group's two pleas seeking a direction to the arbitration tribunal, adjudicating Amazon's objections against the former's deal with Reliance, to take a decision on its application for terminating the arbitration pr...Read More

Mumbai: Reliance New Energy Solar Ltd (“RNESL”), a wholly owned subsidiary of Reliance Industries Ltd. today in a a statement said it has signed definitive agreements to acquire 100% shareholding in Faradion Limited (“Faradion”) for an enterprise value of GBP 100 Mn. In addition, RNESL will also invest GBP 25 Mn as growth capital to accelerate commercial roll out. Reliance will use Faradion’s state-of-the-art technology at its proposed fully integrated energy storage giga-factory a...Read More

Gandhinagar: After becoming the market leader in 2020, Jio continued to gain mobile phone user base in Gujarat in 2021. Starting from January till end of October in 2021, number of Jio mobile users in state increased by 17.45 lakh. Post pandemic, when whole world moved from offline to online, internet became the need of the hour for everyone. As an impact, the demand for Jio services was continuously high. By the end of December 2020, Gujarat had total 6.77 crore mobile users in which, Jio ha...Read More

Mumbai: Richest Indian Mukesh Ambani on Tuesday mentioned about leadership transition at his energy-to-retail conglomerate, saying he wants the process to be accelerated with seniors, including him, yielding to the younger generation. Ambani, 64, who has previously not spoken about succession plans at the country's most valuable company, said Reliance is "now in the process of effecting a momentous leadership transition." Ambani has three children -- twins Akash and Isha, and Anant. Spe...Read More