Good news for Anil Ambani as Reliance Group plans to invest massive Rs 18000 crore in...., plan is to...
Good news for Anil Ambani: In a significant update for Anil Ambani, Anil Ambani's Reliance Group has charted a massive Rs 18,000 cr growth path with a focus on defence, power and clean energy sectors to chart the next phase of growth that will train resources on innovation and value creation, it said on Sunday.
At a time when financial crime-fighting agency, Enforcement Directorate concluded searches at locations linked to the group as part of an investigation into alleged money laundering and siphoning of public funds, over 100 top leaders from its two listed firms — Reliance Infrastructure and Reliance Power — convened in Mumbai on Sunday to reaffirm their commitment to its ambitious growth roadmap.
'After the unanimous approval by the Board of Directors of Reliance Infrastructure and Reliance Power, just a week ago by both boards to raise Rs 18,000 crore by way of equity and debt to fund growth across defence and aerospace and renewable energy sectors, the meeting reflected unity of purpose, renewed vigour and a shared resolve to deliver long-term value for stakeholders,' the group said in a press statement.
The two listed firms in separate statements earlier in the day stated that the action by ED has concluded and that the company and its officials have fully cooperated with the authority.
'Action by ED has no impact on business operations, financial performance, shareholders, employees, or any other stakeholders of the company,' they said.
In the statement on the leadership meeting, the group said its two listed companies — Reliance Infrastructure and Reliance Power — are 'nearly debt-free, have net worths of Rs 14,883 crore and Rs 16,431 crore, respectively, and have 50 lakh public shareholders, one of India's largest shareholder family.'
The leadership meet, it said, spotlighted high-growth verticals driving the group's future strategy.
Reliance Infrastructure's focus will be on defence and aerospace, which includes plans to manufacture Falcon 2000 business executive jets in India for global markets in partnership with Dassault Aviation of France, strategic partnership with US-based Coastal Mechanics to establish MRO and overhaul hub in Maharashtra, partnership with defence manufacturer Rheinmetall AG of Germany, and strengthening strategic partnership with Diehl Defence of Germany for guided munition/terminally guided munition (TGM).
(With inputs from agencies)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
9 minutes ago
- India.com
Dhoni receives Rs 60000000, Abhishek Bachchan Rs 1900000 monthly from SBI due to..., Reason will amaze you!
State Bank of India (SBI) is the largest government-owned and leading bank in the country, serving over 50 crore customers, with more than 50,000 employees and over 22,500 branches. People usually visit banks to take loans or to deposit money to save or earn interest. But the country's biggest bank pays cricketer MS Dhoni Rs 6 crore and actor Abhishek Bachchan Rs 18.5 lakh every month. You might be wondering why the bank pays these large sums of money to these two personalities. Even though Mahendra Singh Dhoni no longer plays cricket, he still enjoys immense popularity. Dhoni is a brand endorsement juggernaut, having received a hefty part of his earnings from his brand endorsements. There is a long list of companies that are utilizing Dhoni's brand image, and one of them is SBI. Since 2023, Dhoni has been an ambassador for India's largest bank, State Bank of India, and has been appearing in advertisements for SBI. SBI pays a hefty amount of money for brand endorsement. For endorsing State Bank of India (SBI)'s schemes, plans, and various banking facilities through advertisements, MS Dhoni receives an annual fee of ₹6 crores. MS Dhoni is the brand image of SBI and receives this fee for that purpose. Sharing a post, SBI's official Instagram account wrote, 'We are pleased to onboard MS Dhoni as Brand Ambassador of SBI. Mr. Dhoni's association with SBI as a satisfied customer makes him a perfect embodiment of our brand's ethos. With this partnership, we aim to reinforce our commitment to serving the nation and our customers with trust, integrity and unwavering dedication. – Mr Dinesh Khara, Chairman SBI.' The post was published on October 28, 2023. SBI also pays Abhishek Bachchan Rs 18.9 lakh every month. This is the amount the Bachchan family receives as rent because Abhishek has let out the ground floor of his opulent Juhu bungalow, Ammu and Vats, to SBI. The lease is for 15 years, and according to the lease, SBI pays the Bachchan family Rs 18.9 lakh every single month as rent. In fact, according the the report published on Abhishek makes this amount without any effort. The property, located near the Bachchan family's residence 'Jalsa,' spans 3,150 square feet. Essentially, Abhishek Bachchan makes almost ₹19 lakh, just for a ground-floor flat rental. The lease agreement was registered on September 28, 2021. The lease agreement spans 15 years and includes scheduled rent hikes over time: After 5 years, the monthly rent will increase to Rs 23.6 lakh. After 10 years, it will further rise to Rs 29.5 lakh.
Indian Express
9 minutes ago
- Indian Express
CAT 2025 Notification: IIM Kozhikode to start registration from Aug 1; exam on November 30
The Indian Institute of Management (IIM) Kozhikode will organise this year's Common Admission Test (CAT). The registration for CAT 2025 will start from August 1, and the exam will be held on Sunday, November 30. The notification was released in various national newspapers; however, the IIM Kozhikode will make the official website of the CAT 2025 live soon. The link for registration is This is the same website that was used in CAT 2024. The Common Admission Test (CAT) 2025 is scheduled to be conducted in three sessions through a computer-based test (CBT) format. An official notification detailing the exam and related guidelines will likely be published shortly on the CAT website. For this year, the registration fee has been set at Rs 1,300 for candidates belonging to SC, ST, and PwD categories, while all other applicants will need to pay Rs 2,600. The application process for CAT 2025 will commence on August 1 at 10 am and conclude on September 13 by 5 pm. Admit cards will be made available to candidates starting November 5, ahead of the exam scheduled for November 30. The results are tentatively expected in the first week of January 2026. This year, the examination will be conducted across approximately 170 cities, and candidates will have the opportunity to choose up to five preferred cities while selecting their test centres. –While applying for CAT 2025, candidates are required to upload scanned copies of their Class 10 and 12 mark sheets, along with either graduation certificates or their most recent semester results if they're currently in the final year. Applicants may also include work experience certificates, where relevant. Additionally, a valid photo ID and applicable category certificates for SC, ST, or PwD candidates need to be uploaded. –A recent passport-size photograph and signature are mandatory, and final-year students must also provide a certificate issued by their respective institution. CAT 2025 serves as an entrance gateway for admission to postgraduate as well as fellow/doctoral programmes offered by the Indian Institutes of Management (IIMs) and other participating institutions. However, it is important to note that CAT scores are just one component of the overall selection process. Candidates will be required to take part in additional evaluation stages, the specifics of which will be announced later on the respective institute websites. Last year, the Indian Institute of Management (IIM) Calcutta conducted the exam, wherein 14 candidates had scored 100 percentile, of which only one was a woman. Moreover, 13 aspirants were from an engineering background, while only one was a non-engineer. Of the 2.93 lakh candidates who appeared for the exam in 2024, 1.07 lakh were female candidates, 1.86 lakh were male candidates, and 5 were transgender candidates.
The Hindu
9 minutes ago
- The Hindu
Rupee rises 9 paise to 86.43 against U.S. dollar in early trade
The rupee appreciated 9 paise to 86.43 against the U.S. dollar in early trade on Monday (July 28, 2025), tracking a softer greenback, though the upside for the local unit was limited as US-India tariff negotiations remained in focus. Forex traders said the rupee was trading in a narrow range as the demand for dollar from importers continued to keep the American unit well bid against the rupee. Moreover, the support from developing trade agreements was negated by the sustained foreign fund outflows, they said. At the interbank foreign exchange, the domestic unit opened on a positive note and touched 86.43 against the greenback in initial deals, higher by 9 paise from its previous closing level. On Friday, the rupee declined 12 paise to settle at 86.52 against the U.S. dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.03% to 97.61. Brent crude, the global oil benchmark, went up by 0.48% to $68.77 per barrel in futures trade, supported by developing trade agreements. Brent oil prices edged up from three week lows in Asian trading to $68 per barrel after E.U. and U.S. reached a trade agreement that eased tariff concerns and boosted future energy demands, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP. The investors are now watching developments from FED which begins its two-day policy meeting from Tuesday (July 29, 2025), Mr. Bhansali said. "The Indian rupee is expected to be steady near 86.47 after the European deal was done but India is still away from a conclusive deal," Mr. Bhansali said, adding that the month-end demand may keep the rupee stable. Meanwhile, in the domestic equity market, Sensex declined 67.43 points or 0.08% to 81,395.66, while Nifty fell 14.25 points or 0.06% to 24,851.25. Foreign institutional investors (FIIs) offloaded equities worth ₹1,979.96 crore on a net basis on Friday, according to exchange data. Meanwhile, India's forex kitty declined by $1.183 billion to $695.489 billion during the week ended July 18, the RBI said on Friday. In the previous week, the overall kitty had dropped by $3.064 billion to $696.672 billion. The reserves had touched an all-time high of $704.885 billion at end-September 2024.
