Den Networks caps a year of declining sales, profits

Den Networks, a prominent Indian cable feed provider that is now part of the Reliance Industries group, today reported a set of disappointing financial performance numbers, capping a year of pain and degrowth. The company’s subscription revenue, which is overwhelmingly composed of the monthly subscription fees paid by cable TV subscribers, fell to 190 cr […]

RIL takes controlling stake in pod transportation co

In what is probably the company’s most fanciful investment to date, India’s largest private sector company Reliance Industries has taken a controlling stake in a US-based futuristic transportation company. skyTran Inc is developing a technology to transport people using pods that are kept in the air by a magnetic force from below. RIL, which was […]

Reliance Industries says no plans to enter ‘contract farming’

Reliance Industries, India’s largest private company, today rebutted rumors that the company has purchased agricultural lands on a large scale and that it plans to carry out contract farming to take advantage of the new farming laws. The clarification comes in the wake of a online campaign targeting the company, as well as rival Adani […]

Future Retail says no agreement with Amazon

Future Retail, the pioneering modern retail chain founded by Kishore Biyani, today said it will take steps to implement its agreement with Reliance Retail as it is not a party to the agreement quoted by global retailer Amazon to block its merger with Reliance Retail. The agreement is with one of its promoters and group […]

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 […]