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Dhirubhai Ambani Birth Anniversary 2023: 5 unknown facts about business tycoon

Livemint

Livemint · 1y ago

Dhirubhai Ambani Birth Anniversary 2023: 5 unknown facts about business tycoon

Dhirubhai Ambani, the prominent Indian industrialist, would have turned 92 on 28 December. He laid the foundation for Reliance Industries Limited, one of the world's most powerful companies. Born in Gujarat, he started his career in Yemen before returning to India in the 1950s. Ambani started with a spice trading business and later expanded into textiles. He took Reliance public in 1977, introducing the stock market to average investors in India. Under his leadership, Reliance became a petrochemicals giant and made significant investments in projects like the Jamnagar facility.

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Mukesh Ambani pays tribute to father Dhirubhai, underlines vision for future

Livemint

Livemint · 1y ago

Mukesh Ambani pays tribute to father Dhirubhai, underlines vision for future

Reliance Industries Chairman, Mukesh Ambani, spoke about the legacy of his father, Dhirubhai Ambani, and shared his vision for the future of Reliance during an interaction with employees. Ambani emphasized Reliance's core values and the need for constant innovation in the changing business environment. He outlined three key focus areas for the company: exceeding customer expectations, winning community trust, and enhancing competencies. Ambani also highlighted the importance of digital data platforms and AI adoption for Reliance's growth and urged the company to complete AI transformation by 2024. He emphasized the importance of keeping Reliance forever young and ended on a positive note, expressing confidence in the company's future.

Reliance announces plans to set up new school led by Isha Ambani. Know more

Livemint

Livemint · 2y ago

Reliance announces plans to set up new school led by Isha Ambani. Know more

Nita Ambani expressed excitement about the upcoming Nita Mukesh Ambani Junior School, focusing on a forward-looking educational approach with Indian values. She mentioned that the flagship Dhirubhai Ambani International School continues to excel. Nita Ambani resigned to make way for her children in Reliance. Isha, Akash, and Anant Ambani were appointed as non-executive directors, previously being involved at the operational level. They have been leading and managing key businesses within RIL, including retail, digital services, energy, and materials. Nita's resignation aims to focus on guiding Reliance Foundation's impactful work.

We reinvest our business every 3-5 yrs; aim to become a deep-tech co: Mukesh Ambani - The Economic Times

Economic Times

Economic Times · 2m ago

We reinvest our business every 3-5 yrs; aim to become a deep-tech co: Mukesh Ambani - The Economic Times

Mukesh Ambani, chairman of Reliance Industries, emphasizes the reinvention of the business every 3-5 years, aiming to transform it into a deep-tech and advanced manufacturing company. Focusing on AI, clean energy, and infrastructure, Ambani highlights the importance of long-term impact and societal contributions. The company is building comprehensive ecosystems for green energy and technology. Guided by vision, character, competence, and culture, Reliance strives to remain a purpose-led institution dedicated to India's prosperity and impact.

'If this is the future, then it's a nightmare...': Anand Mahindra on man wearing Apple Vision Pro

IndianStartupNews

IndianStartupNews · 1y ago

'If this is the future, then it's a nightmare...': Anand Mahindra on man wearing Apple Vision Pro

A viral video featuring a man wearing an Apple Vision Pro VR headset while maneuvering through a mall on a scooter has sparked a conversation about the consequences of a heavily technology-dependent future. Indian business tycoon, Anand Mahindra, expressed concerns about a potential nightmare scenario where people are completely plugged in but disconnected from real-life human connections. Netizens had mixed reactions, with some sharing the same worries, while others were excited about the integration of virtual reality into everyday life.

Ambani's Reliance Jio delays India IPO, 2025 listing not on cards: Sources

Economic Times

Economic Times · 1m ago

Ambani's Reliance Jio delays India IPO, 2025 listing not on cards: Sources

Reliance Jio Platforms, led by Mukesh Ambani, has postponed its much-anticipated IPO planned for 2023 to possibly 2025. The delay aims to strengthen its business and boost valuation beyond $100 billion amid industry competition and challenges, including subscriber churn due to tariff hikes. Jio wants to enhance revenues, expand digital offerings, and establish a more mature business model. The decision comes amid a robust IPO market in India, and investors remain optimistic.

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

Reuters · 1y ago

Reliance, Disney to merge India media assets to create $8.5 billion powerhouse

Reliance Industries and Walt Disney have announced a merger of their India TV and streaming media assets, creating an $8.5 billion entertainment company. Reliance will invest $1.4 billion in the merged entity, giving it a majority stake of over 63%, while Disney will hold about 37%. The merger aims to help Disney revive its struggling India streaming business and ease its financial strain. The combined entity will be led by Nita Ambani, wife of Reliance Chairman Mukesh Ambani, and former top Disney executive Uday Shankar as the vice chair.

TotalEnergies pauses business with Adani, says it was not aware of US probe

VCCircle

VCCircle · 9m ago

TotalEnergies pauses business with Adani, says it was not aware of US probe

French oil company TotalEnergies has announced that it will suspend its financial contributions to Adani Group investments amid an ongoing US investigation into possible bribery and corruption at Adani Green Energy. Total holds a 20% stake in Adani Green Energy and claims it was not made aware of the investigation. Last week, US prosecutors charged eight individuals, including Indian tycoon Gautam Adani, with making improper payments to Indian officials for business advantages. TotalEnergies has described its relationship with Adani as a "strategic alliance" and estimates its financial exposure to Adani firms at around $4-5 billion.

The king’s comeback: Why Reliance Industries is beating the market

Livemint

Livemint · 1m ago

The king’s comeback: Why Reliance Industries is beating the market

Reliance Industries’ stock has surged by 24% this year, outperforming the benchmark Nifty’s 7% rise. This surge follows a two-year period of underperformance. The company, helmed by Mukesh Ambani, sees its New Energy business poised for significant growth and profitability, rivaling its existing Oil to Chemicals (O2C) segment. The market is responding positively to Reliance’s strategic shifts and investments, raising questions about the sustainability of this growth trajectory.

Former ASML CEO says US-China chip fight will continue

Economic Times

Economic Times · 1y ago

Former ASML CEO says US-China chip fight will continue

The former CEO of ASML, the largest tech firm in Europe, believes that the disputes between the US and China over computer chips are based on ideology rather than facts. US export restrictions on ASML tools have been increasing since 2018 due to security concerns, affecting the company's business in China. The CEO emphasized the need to strike a balance in managing stakeholders' interests and expressed concerns about the impact of ideology on the decision-making process. He predicted that the chip war could last for decades due to geopolitical interests.

Perfios acquires open finance platform Fego.ai

Livemint

Livemint · 1y ago

Perfios acquires open finance platform Fego.ai

Bengaluru-based fintech firm Perfios has acquired Chennai-based open finance platform Fego.ai. The deal, which was initiated during the Global Fintech Fest 2023, was recently closed. While the deal amount is unknown, it is described as more of an "acqui-hire." As part of the agreement, Fego's 30-member team will join Perfios, with Fego's co-founder S. Kumar Srivatsan leading the product and business unit. Fego had previously pursued acquisition talks with M2P Fintech but the deal did not materialize.

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