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Big news related to Mukesh Ambani

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3 years ago

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Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.

Following Dhirubhai’s death in 2002, Mukesh and his younger brother Anil assumed joint leadership of Reliance.

While the elder brother took over as the chairman and managing director, Anil was named vice chairman and joint managing director.

The brothers, however, feuded over control, leading to a split with Mukesh assuming control of the gas, oil, and petrochemicals units as RIL, while Anil got telecommunications, power generation, and financial services units through a demerger.

In 20 years that Stanford University-drop out Mukesh, 65, has been at the helm of RIL, the company has re-entered the telecom business, diversified in retail and new energy, and raised a record Rs 2.5 lakh crore selling minority interests during the Covid lockdown.

Here is his journey in numbers at the helm of RIL:

* Market capitalization grew at an annualized rate of 20.6 per cent in the last 20 years from Rs 41,989 crore in March 2002, to Rs 17,81,841 crore in March 2022.

* Revenues grew at an annualized rate of 15.4 per cent from Rs 45,411 crore in FY 2001-02, to Rs 792,756 crore in FY 2021-22.

* Net profit grew at an annualized rate of 16.3 per cent from Rs 3,280 crore in FY 2001-02, to Rs 67,845 crore in FY 2021-22.

* Exports grew at an annualized rate of 16.9 per cent from Rs 11,200 crore in FY 2001-02, to Rs 254,970 crore in FY 2021-22.

* Total assets grew at an annualized rate of 18.7 per cent from Rs 48,987 crore in March 2002, to Rs 14,99,665 crore in March 2022.

* Net worth grew at an annualized rate of 17 per cent from Rs 27,977 crore in March 2002, to Rs 645,127 crore in March 2022.

* RIL added Rs 17.4 lakh crore to investor wealth during these two decades, which is an average of Rs 87,000 crore every year.

According to Motilal Oswal’s 26th annual wealth creation study, the company has emerged as the largest wealth creator, over 2016-21, creating wealth to the tune of nearly Rs 10 lakh crore and breaking its own previous record.

Diversification

Reliance started several new businesses in these two decades – telecom arm Jio started operations in 2016, retail in 2006, and new energy in 2021.

From a single oil refinery in 2002, Jamnagar is now the world’s largest single-location refining complex. During this period, RIL doubled oil refining capacity, adding the unique capability to convert the worst of crude oils into the best of exportable fuels. It also added some of the world’s largest downstream units.

Its traditional business of petrochemicals too flourished and expanded many-fold in the last two decades.

Reliance’s oil and gas exploration (E&P) business made the first hydrocarbon discovery in late 2002 and production started in 2009. The firm got UK’s bp plc as an investor in the E&P business in 2011 and in recent months, it brought to production the second set of discoveries.

RIL brought BP, one of the global petroleum industry leaders, as a partner in its Indian fuel retailing business.

Reliance Mobility Solutions has brought the latest technology and offerings for consumers at petro-retail outlets through the Jio-BP brand.

It aims to offer a new experience in buying fuel with high-quality service and making the retail outlets future-ready with charging and battery swap facilities.

Reliance set the foundation for New Energy Business committing over Rs 75,000 crore investment in three years to set up five uniquely integrated Giga Factories at Jamnagar with the world’s latest technology.

This will have a first-of-its-kind ‘quartz-to-module’ solar panel facility. The ultimate aim is to emerge world’s lowest-cost producer of solar energy and green hydrogen.

Reliance has set a target to become Net Carbon Neutral by 2035, contributing to India’s net carbon zero mission. It will start 10GW of solar PV cell and module factory by 2024, to be scaled up to 20GW by 2026.

By 2025, RIL plans to generate its entire round-the-clock (RTC) power and intermittent energy for Green Hydrogen from captive solar power plants.

Reliance set a record for capital fundraising in FY21. It raised more than Rs 2.5 lakh crore through a rights issue and minority stake sales in Jio Platforms and Reliance Retail Ventures to global marquee investors such as Facebook and Google. During FY2021, Reliance was the single-largest foreign direct investment (FDI) generator for India.

After the launch of Jio, India became the data capital of the world and the cost of data/GB fell from Rs 500 to Rs 12. India’s ranking in Broadband data consumption moved from 150 in 2016 to No.1 in 2018 thanks to Jio.

Born in Aden, Yemen, where his father worked as a gas station attendant, Mukesh Ambani earned his bachelor’s degree in chemical engineering from the University of Bombay (now the University of Mumbai) and subsequently pursued a master’s degree in business administration from Stanford University.

He, however, left the program in 1981 to join the family business, where he worked to diversify the company, foraying into communications, infrastructure, petrochemicals, petroleum refining, polyester fibres, and oil and gas production.

In 2007, he became India’s first rupee trillionaire. He, however, has lost the richest Indian tag to a fellow Gujarati businessman, Gautam Adani in recent months.

Reliance Foundation, backed by Reliance Industries, came up in 2010 to spearhead the company’s philanthropic initiatives under the leadership of his wife Nita. It works in the areas of rural empowerment, nutrition security, ecological conservation, education, and sports.

Reliance Foundation is India’s biggest corporate social responsibility initiative by reach, as well as by spend.

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Sensex, Nifty open marginally higher; IT stocks lead gains

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39 mins ago

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October 8, 2025

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Mumbai, Oct 8: The Indian stock markets opened slightly higher on Wednesday amid mixed movement in key stocks on Dalal Street.

The Sensex rose 63 points or 0.08 per cent to 81,990, while the Nifty gained 16 points or 0.06 per cent to trade at 25,124 in early deals.

Titan emerged as the top gainer on the Sensex, rising around 4 per cent intra-day after the company released its Q2 FY26 business update.

Other major gainers included Infosys, TCS, Tech Mahindra, HCL Tech, Asian Paints, and Trent, which climbed up to 2 per cent.

On the other hand, Tata Motors, Power Grid, BEL, HUL, Sun Pharma, and Kotak Bank were among the top losers, slipping up to 1 per cent.

In the broader markets, performance remained subdued. The Nifty MidCap index rose 0.19 per cent, while the Nifty SmallCap index was up 0.23 per cent.

Among sectoral indices, IT stocks led the gains, with the Nifty IT index advancing 1.2 per cent on the NSE.

The Nifty Pharma and Metal indices also moved up by 0.4 per cent each. However, Nifty Realty and Nifty PSU Bank indices were under pressure, falling 0.36 per cent and 0.27 per cent, respectively.

Analysts said the market is likely to remain stock-specific this week as investors track Q2 earnings updates and global cues.

“The ongoing mild rally in the market has support from institutional investment. FIIs turning buyers yesterday is a positive development,” market experts added.

“There are reports of unprecedented demand and sales of automobiles and consumer durables in this festival season. These will be reflected only in the Q3 results. So watch out for the high frequency data from the real markets,” they added.

“Given the prevailing uncertainty and heightened volatility, traders are advised to maintain a cautious ‘buy-on-dips’ stance, particularly in leveraged positions,” as per the experts.

Market experts said that fresh long positions should be considered only if the Nifty sustains above the 25,250 mark.

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Sensex, Nifty extend gains on buying in heavyweights

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1 day ago

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October 7, 2025

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Mumbai, Oct 7: Indian stock markets continued their upward trend on Tuesday, supported by buying in major stocks such as ICICI Bank, ITC and more.

However, profit booking in select banking stocks limited the overall gains during the early trading hours.

The Sensex, which rose more than 100 points in early trade, was trading at 81,843, up 52 points or 0.06 per cent.

The Nifty also gained 34 points or 0.14 per cent to reach 25,112 after hitting an intra-day high of 25,140.

Among the top gainers on the Sensex were Power Grid, Bajaj Finance, HCL Tech, Bharti Airtel, ICICI Bank, Ultratech Cement, NTPC, Hindustan Unilever, Bajaj Finserv, and BEL, which rose between 0.3 per cent and 1.6 per cent.

On the other hand, Trent, Axis Bank, Tata Motors, TCS, SBI, Kotak Bank, Tech Mahindra, HDFC Bank, and Infosys were among the major losers, slipping up to 2.7 per cent.

In the broader market, the Nifty MidCap index gained 0.08 per cent, while the Nifty SmallCap index rose 0.41 per cent — showing continued interest from investors in smaller companies.

Among sectoral indices, Nifty Metal and Nifty IT were the top performers, each gaining 0.4 per cent.

The Nifty PSU Bank index was the worst hit, falling 0.3 per cent due to profit booking in public sector lenders.

Analysts said that overall market sentiment remains positive, though some volatility may persist due to profit-taking at higher levels.

“The ongoing mild rally in the market has the potential to gain momentum. The FII selling in India is slowly declining since the sharp appreciation in other markets has pushed up their valuations and the valuation differential between India and other markets has come down,” analysts said.

“Since there is huge short position in the market any positive news can trigger short-covering, further aiding the rally,” they added.

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PM Modi to inaugurate India Mobile Congress 2025 on October 8

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2 days ago

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October 6, 2025

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New Delhi, Oct 6: Prime Minister Narendra Modi will inaugurate the India Mobile Congress (IMC) 2025, Asia’s premier telecom and technology event, on October 8 in the national capital, Ministry of Communications said on Monday.

The four-day mega event, themed “Innovate to Transform,” will run till October 11 and is expected to showcase India’s growing leadership in the global digital and telecom space.

Union Minister for Communications Jyotiraditya M. Scindia visited the IMC 2025 venue to review the final preparations ahead of the Prime Minister’s inauguration.

Scindia also travelled to the venue and back via the Airport Metro, symbolising India’s push for modern and sustainable urban transport.

During his visit, the minister toured the exhibition area, interacted with participating startups and exhibitors, and chaired review meetings with senior officials from the Department of Telecommunications (DoT), the Cellular Operators Association of India (COAI), and other partner agencies.

Speaking to the media, Scindia said that IMC 2025 would mark a new era in global connectivity, where technologies like 5G, 6G, artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), and satellite communications would come together to shape the future.

He emphasised that the event reflects Prime Minister Modi’s vision of a self-reliant and innovative India that connects not only within but also with the world.

IMC 2025 is expected to attract more than 1.5 lakh visitors, 7,000 delegates from over 150 countries, and 400 exhibitors spread across 4.5 lakh square feet.

The event will also feature over 1,600 technology demonstrations and 100 sessions with more than 800 speakers discussing the latest developments in telecom and digital innovation.

Highlighting the scale of the event, Scindia said that IMC has grown from being a national platform to becoming a global technology congress that represents India’s digital leadership.

He added that the 2025 edition will include six major global summits — covering 6G research, artificial intelligence, cybersecurity, satellite communications, startups, and the Global Startup World Cup — India Edition.

The minister also underlined India’s achievements in the telecom sector, noting that the country now ranks among the world’s top three digital economies with 1.2 billion mobile subscribers, 970 million internet users, and the fastest-ever 5G rollout completed in just 22 months.

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