TRAI Tariff Order helps lift Hathway into profit

Hathway Datacom, one of India’s top cable feed providers (MSOs) finally posted a profit after remaining saddled with losses for several years. The company was able to post a profit due to various factors, including a sharp fall in pay channel costs thanks to TRAI’s new tariff order and a reduction in its cable TV […]

No plans to sell news channels: TV18 Broadcast

Rahul Joshi, Managing Director of TV18, today said his company has no plans to sell its news business. “We’ve outrightly denied any such story in news. In news, the group remains absolutely committed to grow the business. “As you’ve seen, we’ve committed so much investments in digital, on television. So there’s no question of getting […]

RIL reorganizes telecom business prior to strategic monetization

Reliance Industries, India’s most valuable company by shareholding, has restructured its telecom investments and holdings to facilitate its “early monetization”. The oil-to-retail giant said it has decided to set up a new company exclusively for holding the digital business of RJIL — devoid of towers and fiber — and plans to sell stakes in this […]

Amazon slowed investment into India due to protectionism – Wilbur Ross

US Secretary of Commerce Wilbur Ross today said that e-commerce giant Amazon, one of the biggest foreign investors in India, had scaled down its plans for investments in this country after the government came up with new, protectionist and restrictive ecommerce rules. In what was seen as a nasty blow to the likes of Walmart […]

LIVE: Mukesh Ambani’s AGM Speech Highlights

The following are the major highlights of the speech made by Mukesh Ambani at Reliance Industries’ annual general meeting 2019. He is expected to announce details of the launch of Jio GigaFiber, the cable and broadband service that has been five years in the making. He is also expected to detail the company’s ambitious e-commerce […]

Watch Live: Mukesh Ambani AGM speech to unveil Reliance GigaFiber plans

Mukesh Ambani, the chairman of Reliance Jio Infocomm and Reliance Industries, is all set to unveil attractive broadband-cum-TV plans under Reliance Gigafiber at the annual general meeting of Reliance Industries at 11 AM. The plans have been a well kept secret, but according to early indications, the company will offer free cable TV and 200 […]

PVR Pictures to distribute Reliance Entertainment’s films

PVR Pictures, the production arm of India’s largest cinema chain,  said it will distribute films from Anil Ambani-promoted Reliance Entertainment. Both companies will collaborate for the first time to distribute Reliance Entertainment’s upcoming film Game Over, releasing on June 14. This will be followed by the Hrithik Roshan starrer Super 30, which will release on […]

Reliance Jio acquires AI start-up for Rs 700 cr

Reliance Industries said it has agreed to acquire 87% of Mumbai-based artificial intelligence company Haptik Infotech for Rs 700 cr, including an initial payment of Rs 230 cr. Reliance Industries said the technology will be used to bring artificial intelligence-based offerings on Reliance Jio, the telecom and digital arm of the group. “This strategic investment […]

Mukesh Ambani’s Reliance Industries sets up real estate company

Reliance Industries, the flagship company of the Mukesh Ambani led Reliance Group, said it has set up a subsidiary for the purpose of carrying out operations in the real estate space. The group, which has hitherto focused on areas like petrochemicals, energy, retail and technology, does not have a sizable real estate-focused business as of […]

Mukesh Ambani: Reliance Jio To “Shortly Launch” E-Commerce Venture With 3 Cr Sellers

Even as Amazon and Flipkart find their business models crippled by new changes in the law, India’s richest man Mukesh Ambani announced that his upcoming e-commerce venture will partner with 3 cr sellers, making it the biggest such platform in the country by number of sellers. “Jio and Reliance Retail will shortly launch a unique […]

Jio GigaFiber moves closer to reality as Reliance’s Den acquisition gets approval

Jio GigaFiber, the wired service from Reliance Jio, moved closer to its mega roll-out plan after it received a crucial approval from the Competition Commission for the company’s purchase of Den Networks and Hathway Cable & Datacom. The approval by the Competition Commission was seen as the main, if not the only, crucial regulatory approval […]

Reliance Industries to enlist local stores to fight Flipkart, Amazon

Mukesh Ambani, chairman of Reliance Industries group, today said that his company is working on creating a pan-India e-commerce platform that will help small, offline shops compete with players like Amazon and Flipkart. The platform will work by making the inventory of small shops available for purchase online using a sophisticated web and app interface […]

GTPL Hathway, Polycab wins Rs 1,246 cr order in Gujarat

GTPL Hathway, the Gujarat-based subsidiary of Hathway Datacom, said it, along with Polycab Wires, has won a Rs 1,245.77 cr order to connect 3,767 gram panchayats as part of the BharatNet project of the central government. The companies have to lay 17,000 kms of fiber as part of the contract. The order is for part of Saurashtra region […]

Reliance Industries 10 rupees away from $100 bln market cap, after TCS

Three months after Tata Consultancy Services became the first Indian company to achieve a market capitalization of $100 bln (Rs 6.85 lakh cr), Reliance Industries is close to the $100 bln mark as well. At present, there are only around 100 companies in the world whose shares are worth $100 bln or more, including the […]

RIL invests Rs 9.5 cr in Gurgaon-based Fashion startup

Reliance Industries, the parent of Reliance Retail, said it has acquired a 12.5% stake in a fashion company called Future101 Design Pvt Ltd at a cost of Rs 9.5 cr. The Gurgaon-based company designs and manufactures garments such as ladies kurtis and men’s shirts. “Future101, incorporated in July, 2013 is engaged in manufacturing, distribution and […]

Reliance Digital, Jio Stores to sell all Motorola devices

India’s largest technology retail chain Reliance Digital said it signed an agreement to sell all Motorola products at its outlets. At present, Motorola is largely an online-focused brand. Motorola, which used to be a big brand in the country in the 1990s and 2000s, lost out to Korean players like Samsung and LG about 10-12 […]

Anmol Ambani impresses dad with his change mantra; nominated to two more boards

Anil Ambani today praised his son Anmol Ambani for bringing about a “cultural change” in his business group, and said the 26-year-old has been added to the director boards of two more of his group companies. Anmol Ambani will join the director boards of Reliance Nippon Life Asset Management and Reliance Home Finance. It was […]