Connect with us
हिंदी اردو
Saturday,28-September-2024
Breaking News

Business

Big news related to Mukesh Ambani

Published

2 years ago

on

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.

Post Views: 2
Related Tags:

Business

New TVS Apache RR 310 Hits Indian Market at Rs 2.75 Lakh: All You Need to Know

Published

2 weeks ago

on

September 17, 2024

By

TVS has introduced the 2024 edition of its flagship Apache RR 310 in India, starting at Rs 2.75 lakh (ex-showroom). The updated model brings several enhancements, including segment-first aerodynamic winglets integrated into the side fairing, aimed at improving stability and performance.

The latest version of the TVS Apache RR 310 comes with a starting price of Rs 2.75 lakh (ex-showroom) for the Racing Red model. However, this variant does not include the bi-directional quick-shifter. For those looking to add this feature, it will cost approximately Rs 17,000 extra. The 2024 lineup also introduces a new Bomber Grey color option, priced at Rs 2.97 lakh (ex-showroom), offering a stylish and performance-focused upgrade.

The 2024 TVS Apache RR 310 retains its 312cc single-cylinder, liquid-cooled engine with a 6-speed gearbox, but now offers improved performance. The updated model produces 37 bhp at 9,800 rpm and 29 Nm of torque at 7,900 rpm. TVS also claims that it accelerates faster than before, shaving 0.43 seconds off its 0-100 km/h time, making it a more exciting choice for riders looking for speed and agility.

The 2024 TVS Apache RR 310 keeps its familiar trellis frame, supported by upside-down front forks and a rear monoshock for improved handling. Braking is handled by disc brakes. It also comes with a 5-inch TFT display that offers Bluetooth connectivity and navigation.

The updated electronics package includes new features like tyre pressure monitoring, cornering ABS, traction control, and cruise control. While the overall design remains similar, it gets refreshed decals and is available in three colours: Bomber Grey, Racing Red, and Race Replica.

TVS has introduced two performance kits for the new Apache RR 310: the Dynamic kit, priced at Rs 18,000, and the Dynamic Pro kit at Rs 16,000. The Dynamic kit enhances the bike’s handling with fully adjustable suspension, a tyre pressure monitoring system, and a brass-coated drive chain. The Dynamic Pro kit, meanwhile, focuses on safety and stability, offering race-tuned dynamic stability control for better on-road performance. These upgrades allow riders to customize their experience for both performance and safety.

Post Views: 19
Continue Reading

Business

Jio network down: users are facing problems

Published

2 weeks ago

on

September 17, 2024

By

Some Jio users in Mumbai are experiencing network outages, causing the issue to trend on Twitter. According to reports on social media, the disruptions have affected specific areas in the city. One user claimed that the Reliance Jio IDC Data Centre caught fire, potentially causing service interruptions. The user tweeted, “Reliance Jio IDC Data Centre caught fire, some services down due to that.

The network of Reliance Jio, one of the leading telecom companies in India, has been down for the last 1 hour. So users are facing a lot of problems. Many have posted about this on social media and tagged Reliance Jio. Reliance Jio network is down since last 1 hour.

Due to this, many works of Jio users have been stopped. A user posted on X and informed that the Jio service has been shut down due to a fire in the IDC (data center). Repair work is going on here. The network will be restored soon. But Reliance Jio has not given any official information about this yet. Therefore, users are asking when the network will be restored.

Reliance Jio service has been discontinued. Most of the users have no signal in their mobiles. 20 percent reported internet connectivity disruption on Down detector. 14 percent people are facing problems in running Jio fiber. Reliance Jio’s website is also not working properly and users are unable to access the Jio app.

There are more than 10 thousand complaints on Downdetector around 12 noon. More outage issues have been reported from cities like Delhi, Lucknow and Mumbai. Users across the country are complaining about Jio service being down. Jio on X is also trending down. People are sharing memes for Jio.

Reliance Jio services have once again been suspended in many parts of the country. Today i.e. on 17th September it started from Mumbai, the financial capital of the country and now Jio is down in all the cities of the country. Earlier in May and June 2024 also, Jio services were suspended in Mumbai. Users are constantly complaining on social media about Jio being down but there is no concrete solution and assurance from the company yet.

Users on social media claim that Jio services have been suspended across Mumbai. There is a network problem for several hours. Many users have also complained about the broadband service. Outage tracker Downdetector has also confirmed Jio’s outage. According to Downdetector’s map, it has stopped in New Delhi, Lucknow, Nagpur, Cuttack, Hyderabad, Chennai, Patna, Ahmedabad, Kolkata, Guwahati.

More than 10 thousand people have complained on Downdetector in just 1 hour. On this site, 67 percent people complained about lack of signal, 20 percent about mobile internet and 14 percent about Jio Fiber.

Post Views: 40
Continue Reading

Business

‘Take A Trip To Vietnam For Your iPhone 16’: X User Proposes Cost-Effective Way To Buy The Latest Apple Smartphone

Published

3 weeks ago

on

September 10, 2024

By

Apple recently launched its latest iPhone series, the iPhone 16 series. In addition, the company also launched the latest Apple Watch along with the latest version of Apple AirPods.

Trip To Vietnam For Apple

Apple products from time immemorial have been known for their exorbitant and sky-high pricing. Many have often made memes about having to sell their organs to be able to afford one of their iPhones.

Now, with the latest launch, and X user has found a way to cut corners by taking a trip.

According to the user, an aspiring iPhone buyer in India should take a trip to the East Asian nation of Vietnam to be able to get the new iPhone 16 at a cheaper rate.

However, the user also notes that these savings can only be made, if the buyer is intending to buy the advanced iPhone 16 Pro iPhone 16 Pro Max.

Savings Only iPhone 16 Pro

The user said, “Plan your #iPhone16 purchase with a trip to #Vietnam and spend the same amount you would be spending buying it here in India.”

In addition, the user also added, “But the savings work only if you are planning to buy the #iPhone16Pro or the #iPhone16ProMax”.

In addition, the user also surmised an instance of users travelling to the UAE an purchasing these phones.

According to the user, the Visa fees & fight rates don’t make Dubai that lucrative unless flying somewhere via UAE or planning for the #iPhone16ProMax only”.

As per the statistics produced by the user, the most expensive iPhone 16 Pro Max will cost an Indian buyer Rs 1,44,900 a piece. In Vietnam, however, it would cost a buyer Rs 1,18,992.

This marks a difference of Rs 25,908. Meanwhile, in the UAE, particularly in Dubai, the same phone would cost the buyer Rs 1,16,550, marking a difference of Rs 28,350.

The iPhone series will be available in India from September 20, with the pre-order for the phone starting on September 13.

Post Views: 20
Continue Reading
Advertisement
Advertisement

Trending