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’Time for all businesses in India to work together as Grand Coalition’: Mukesh Ambani’s full speech at RIL AGM 2024 | Mint

Livemint

Livemint · 10m ago

’Time for all businesses in India to work together as Grand Coalition’: Mukesh Ambani’s full speech at RIL AGM 2024 | Mint

The Directorate General of Civil Aviation (DGCA) has placed SpiceJet airline under enhanced surveillance due to deficiencies discovered during an audit. This move comes after reports of flight cancellations and financial stress at the low-cost carrier. SpiceJet had previously been placed under enhanced surveillance in 2022 and 2023. The airline's market share in the Indian aviation sector has been steadily declining, and it has faced challenges such as delayed salaries and legal battles over unpaid dues. To address its financial situation, SpiceJet is planning to raise ₹3,000 crore through a qualified institutional placement of shares.

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Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus

Livemint

Livemint · 10m ago

Reliance AGM 2024 Live Updates: Mukesh Ambani’s speech at RIL AGM in focus

Reliance Industries Limited (RIL) is holding its annual general meeting (AGM) today, where Chairman Mukesh Ambani is expected to make key announcements. This includes providing a timeline for the listing of Reliance Retail and Reliance Jio Initial Public Offerings (IPOs). The AGM, attended by 3.5 million shareholders, is set for August 29, 2024, starting at 2:00 PM.

New Energy Business and emphasis on technology were key themes of Ambani’s speech

Money Control

Money Control · 10m ago

New Energy Business and emphasis on technology were key themes of Ambani’s speech

Reliance Industries (RIL) announced a 1:1 bonus issue at their 47th annual general meeting (AGM) to reward shareholders. The company's Chairman, Mukesh Ambani, outlined RIL's roadmap for future growth. Key elements include plans for the new energy business, a focus on scale for all RIL units, and the transformation of RIL into a "Deep Tech and advanced manufacturing company" through the use of Artificial Intelligence (AI) across businesses. Ambani set ambitious targets for the new energy business and highlighted RIL's plans to establish large-scale manufacturing facilities for solar PV modules, battery energy storage systems, and an AI-ready data center. Ambani also expressed confidence in doubling RIL's market cap and meeting their target of being among the world's top 50 most valuable corporations by 2022.

RIL AGM today: Timing, when and where to watch livestream and more details | Mint

Livemint

Livemint · 10m ago

RIL AGM today: Timing, when and where to watch livestream and more details | Mint

Reliance Industries (RIL) will hold its 47th Annual General Meeting (AGM) virtually today, August 29. RIL Chairman, Mukesh Ambani, is expected to address shareholders and outline the company's achievements, future strategies, and potentially unveil major initiatives. The AGM will determine shareholder eligibility for the FY24 dividend, if declared, and is generating significant interest among investors and industry analysts. The event will be live-streamed on various platforms, including JioMeet, YouTube, Facebook, and Twitter. Market expectations include potential announcements regarding Reliance Jio IPO and Reliance Retail IPO.

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

Livemint

Livemint · 1y 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.

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

IndianStartupNews

IndianStartupNews · 1y ago

Mukesh Ambani's wife Nita Ambani resigns from Reliance Industries board

Nita Ambani, the wife of billionaire Mukesh Ambani, has resigned from the board of Reliance Industries to focus more on the Reliance Foundation. In her place, Isha Ambani, Akash Ambani, and Anant Ambani will be appointed as non-executive directors of the company. Nita Ambani's leadership of Reliance Foundation was acknowledged by the board, and she will continue attending RIL board meetings as a permanent invitee. The Ambani children have been actively involved in and leading various RIL businesses and subsidiaries.

RIL's bonus issue an added draw for shareholders invested in a strong growth business

Money Control

Money Control · 10m ago

RIL's bonus issue an added draw for shareholders invested in a strong growth business

During the 47th Reliance Industries Annual General Meeting (AGM), Chairman Mukesh Ambani announced a 1:1 bonus issue. This move follows previous bonus issues in 2009 and 2017. The company's last major corporate action was a rights issue in 2020, where the promoter group infused a significant amount of equity to reduce debt. The bonus issue will halve the nominal stock price and make investing in RIL shares more accessible to a wider range of investors. RIL continues to focus on growth and value, expanding into consumer-facing businesses, renewable energy, and clean energy.

Jio Platforms To Roll Out AI Service Platform ‘Jio Brain’ For Enterprises: Mukesh Ambani

Inc42 · 10m ago

Jio Platforms To Roll Out AI Service Platform ‘Jio Brain’ For Enterprises: Mukesh Ambani

Reliance Industries Limited (RIL) is testing a suite of AI platforms and tools called Jio Brain within its group companies. Jio Brain includes platforms for merchants and small businesses called AI Vyapar, and for students called JioInstitute. The company is integrating generative AI into its processes and offerings to enable real-time, data-driven insights and automation. This was announced by Mukesh Ambani during RIL's 47th annual general meeting.

From Jio Brain to AI-Cloud, a look at tech announcements made at RIL AGM 2024

Livemint

Livemint · 10m ago

From Jio Brain to AI-Cloud, a look at tech announcements made at RIL AGM 2024

Reliance Industries held its 47th Annual General Meeting (AGM) during which Chairman Mukesh Ambani made several tech announcements. The company introduced Jio Phonecall AI, a service that integrates AI into phone calls for recording, transcribing, summarizing, and translating conversations. They also revealed Jio Brain, a suite of AI tools aimed at accelerating AI adoption across their businesses. Mukesh Ambani announced the Jio AI-Cloud Welcome Offer, providing users with up to 100 GB of free cloud storage. Additionally, Jio TvOS, Jio Home IoT, JioTV+, and Jio Home were introduced as innovative home entertainment and connectivity solutions.

RIL AGM 2024: Jio TV to have access to over 860 channels | Mint

Livemint

Livemint · 10m ago

RIL AGM 2024: Jio TV to have access to over 860 channels | Mint

Reliance announced that Jio TV will now offer access to over 860 channels, allowing subscribers to catch up on missed shows for up to 7 days. Jio Fiber and Jio Air Fiber subscribers will also have access to content from popular OTT apps. The JioTV+ app, previously available only through Jio set-top boxes, is now accessible to all subscribers. Reliance Chairman Mukesh Ambani described AI as transformative and emphasized the company's focus on long-term wealth creation for the nation. Ambani also highlighted India's growth as a major global engine.

Reliance Q4 results: Net profit declines 1.8% YoY to ₹18,951 crore

Livemint

Livemint · 1y ago

Reliance Q4 results: Net profit declines 1.8% YoY to ₹18,951 crore

Reliance Industries Ltd (RIL), led by Mukesh Ambani, reported a 2% decline in net profit for the March quarter due to lower margins in its petrochemicals business and higher tax outflows. However, the company's retail and telecom businesses showed steady growth. RIL's consolidated revenue for the year exceeded ₹10 trillion, making it the first Indian company to achieve this milestone. Despite global headwinds, the company's O2C segment (oil refining and petrochemicals) performed well, while its KG-D6 block and retail division also contributed to earnings growth. RIL's digital services segment, including Jio Platforms, reported a 9% YoY increase in EBITDA.

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