Latest news with #AnilAmbani
India.com
11 hours ago
- Business
- India.com
Days after ED raids, BIG win for Anil Ambani, MMRDA deposits Rs 5600000000 in…
Anil Ambani (File) In the matter of arbitration award won by the Mumbai Metro One (MMOPL) against the MMRDA, the MMRDA, on the directions of Supreme Court, has deposited Rs 560.21 crore (50% of the total arbitration amount of Rs 1160 crore) in the registry of Bombay High Court. In a Special Leave Petition filed by MMRDA before the Hon'ble Supreme Court challenging the order dated June 10, 2025, the Hon'ble Supreme Court directed MMRDA to deposit 50% of the award amount. In compliance with the said order of the Hon'ble Supreme Court, MMRDA has deposited an amount of Rs. 560.21 crore with the Registry of the BHC, Reliance Infra said in a statement. What Were Bombay HC's Directions To MMRDA? The Bombay High Court had earlier directed MMRDA to pay Rs 1169 crore to MMOPL by July 15, 2025 after an arbitration award in a dispute related to the Versova-Andheri-Ghatkopar metro corridor in India's first metro project. On which, MMRDA approached the Supreme Court with a special leave petition challenging the High Court's order. The SC, however, directed MMRDA to deposit 50% of the award amount of around Rs 560 crore. MMOPL has indicated that the funds will be used to reduce outstanding debt. What Was Dispute Between MMOPL And Reliance Infra? The dispute started in August 2023, when MMOPL was awarded Rs 992 crore by a three-member arbitral tribunal over project cost escalations and other contractual disputes. Initially it was estimated at Rs 2,356 crore, the cost of the 12-km elevated metro line with 12 stations which was increased to Rs 4,321 crore. MMRDA had contested the award under Section 34 of the Arbitration and Conciliation Act, 1996, but the Bombay HC upheld the tribunal's decision in favor of MMOPL. MMOPL is a joint venture between R-Infra and MMRDA wherein Anil Ambani's company holds a 74% stake. The project was given in 2007 through global competitive bidding, and the metro line became operational as Mumbai's first rapid transit corridor. The project was financed by a consortium of banks headed by Canara Bank. In November 2024, the lenders initiated a bidding process to offload Rs 1,226 crore in loans. The National Asset Reconstruction Company Ltd (NARCL) placed an anchor bid of Rs 1,063 crore to acquire the stressed debt.
India.com
2 days ago
- Business
- India.com
Anil Ambani hits JACKPOT as this company turns profitable from loss, share price jumps 1150% to touch Rs…, the company is…
Anil Ambani (File) Anil Ambani-led Reliance Infrastructure has made a strong comeback, turning profitable in the first quarter of the current financial year. The company posted a net profit of Rs 59.84 crore for the quarter, compared to a loss of Rs 233.74 crore in the same period last year. Reliance Infra Q1 Results On Monday, Reliance Infrastructure shares witnessed a sharp rally, jumping over 4% to reach Rs 358 on the BSE. The surge came after the company reported a turnaround in performance with a record profit for Q1 of FY26. Reliance Infrastructure is now completely debt-free, with no outstanding dues to banks or financial institutions. The company's total income for the April–June 2025 quarter was at Rs 6,035.59 crore, down from Rs 7,256.21 crore in the corresponding quarter of the previous fiscal. However, on a quarter-on-quarter basis, income showed strong growth up 41% from Rs 4,268.05 crore reported in the March 2025 quarter. Consolidated EBITDA for Q1 FY26 rose 29% year-on-year to Rs 1,494 crore. Reliance Infra Stock Jumps 1150% In 5 Years Reliance Infrastructure shares have given massive returns of over 1,150% in the past five years. The stock, which was priced at Rs 27.85 on July 31, 2020, climbed to Rs 358 as of July 28, 2025. Over the last four years alone, it has surged more than 355%, and in the past two years, it has risen by over 198%. The stock's 52-week high is Rs 425, while the 52-week low stands at Rs 188.25. ED Search Operations Reliance Infrastructure and Reliance Power, both part of the Anil Ambani Group, announced on Sunday that the Enforcement Directorate (ED) has concluded its search operations. The companies confirmed that their executives fully cooperated with authorities during the process. They also clarified that the ED's actions have had no impact on the business operations, financial performance, shareholders, employees, or other stakeholders of the company.
India.com
2 days ago
- Business
- India.com
Days after ED raid, good news for Anil Ambani, this company earns Rs 590000000 for…
Anil Ambani (File) Reliance Infrastructure posted a net profit of Rs 59.84 crore for the first quarter ended June 2025, compared to a net loss of Rs 233.74 crore in the same quarter of the previous financial year (2024–25). Total income for the quarter stood at Rs 6,035.59 crore, down from Rs 7,256.21 crore recorded in the corresponding period last year. Reliance Infra Q1 Results However, on a sequential basis, total income rose significantly from Rs 4,268.05 crore in the quarter ended March 2025 to Rs 6,035.59 crore in the June 2025 quarter. Over 51434 new households added in Delhi Discoms in Q1 FY25-26; Total households:~ 52.78 lakh. Transmission & Distribution (T&D) loss reduced below 6.5%, on rolling basis, in Delhi Discoms backed by high operational efficiencies. Delhi Discoms successfully met combined Peak Demand of 5,607 MW during Q1 FY25-26.
Time of India
2 days ago
- Business
- Time of India
Reliance Infrastructure shares zoom nearly 5%; here's why
Reliance Infrastructure shares rallied 4.66% to the day's high of Rs 358 on the BSE on Monday, following two key announcements made on July 27: the conclusion of Enforcement Directorate (ED) action across all company locations, and the unveiling of a comprehensive growth strategy in Defence, Aerospace, and Renewable Energy by the leadership of Reliance Infrastructure and Reliance Power . Here are the details of the updates shared by the company: - ED action concludes with no impact on business operations On Sunday, Reliance Infrastructure announced that the ED's action had concluded at all company locations. The company stated that all officials fully cooperated with authorities and will continue to do so in the future. It further clarified that the ED action has had no impact on its business operations, financial performance, governance, employees, or any stakeholders. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Project Management Management Data Science Healthcare Artificial Intelligence MCA Public Policy Others healthcare Cybersecurity Data Science MBA others Data Analytics CXO Design Thinking Leadership Degree Digital Marketing Technology Product Management PGDM Operations Management Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like War Thunder - Register now for free and play against over 75 Million real Players War Thunder Play Now Undo The company noted that the action appears to be related to decade-old transactions involving Reliance Communications Ltd (RCOM) and Reliance Home Finance Ltd (RHFL)—two entities with which Reliance Infrastructure has no financial or business linkage. RCOM is currently undergoing insolvency proceedings under the IBC since 2016, while RHFL has been fully resolved following a Supreme Court judgment. Reliance Infrastructure emphasized that Anil Ambani is not on its Board and that proceedings involving RCOM or RHFL have no bearing on its governance or operations. Live Events The company reaffirmed that it continues to operate normally and remains focused on its business plans and delivering long-term value to all stakeholders. - Group leadership unveils Rs 18,000 crore strategic growth plan Alongside the ED update, more than 100 senior leaders from Reliance Infrastructure and Reliance Power convened to outline the group's next phase of growth. This follows recent approval by both company boards to raise Rs 18,000 crore via equity and debt to fund expansion across Defence & Aerospace, Power Distribution, and Renewable Energy. Both companies—Reliance Infrastructure and Reliance Power—are nearly debt-free, with net worths of Rs 14,883 crore and Rs 16,431 crore, respectively, and a combined public shareholding base of over 50 lakh investors. Key focus areas for Reliance Infrastructure include: - Defence & Aerospace: Plans to manufacture Falcon 2000 business jets in India in collaboration with Dassault Aviation, along with strategic partnerships with US-based Coastal Mechanics and Germany's Rheinmetall AG and Diehl Defence for advanced military manufacturing. - Power Distribution: Serving over 53 lakh households in Delhi via BSES, with continued emphasis on smart and sustainable power delivery. - Green Energy Goals: Targeting clean power sourcing for Delhi over the next five years. For Reliance Power, the focus remains on: Renewable Energy: Operating a portfolio of ~5.3 GW and securing ~3.3 GWh of Solar and Battery Energy Storage System (BESS) projects—Asia's largest solar-plus-storage initiative. The leadership reiterated its commitment to converting challenges into opportunities, staying aligned with the vision of the late Shri Dhirubhai Ambani. Reliance Infrastructure shares had closed at their 5% lower circuit at Rs 342.05 on BSE on Friday. Also read: NSDL IPO: Issue opens on July 30, here's what you need to know about GMP, issue details ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
India.com
2 days ago
- Business
- India.com
Days after ED raid, Anil Ambani's BIG move, hundreds of senior leaders of Reliance Infra, Reliance Power hold meetings, plan next phase of…, focus on…
Anil Ambani (File) Anil Ambani's Reliance Group announced on Sunday that it will focus on the defence, power, and clean energy sectors to drive its next phase of growth, with focus on innovation and value creation. The announcement came on the same day the Enforcement Directorate concluded searches at locations linked to the group as part of a probe into alleged money laundering and misappropriation of public funds. After this backdrop, over 100 senior leaders from its two listed entities Reliance Infrastructure and Reliance Power gathered in Mumbai to reaffirm their commitment to the group's ambitious growth strategy. Anil Ambani Group Responds On ED Raids '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 meeting, it said, spotlighted high-growth verticals driving the group's future strategy. Reliance Infrastructure & Reliance Power Future Plans 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). The 'aim (is) to rank among India's top three defence exporters — strong commitment to the Indian defence markets and 'Make in India' and 'Atmanirbhar' initiative of the Government of India,' it said. In the power business, its electricity distribution utility BSES that services more than 53 lakh households, covering two-thirds population in Delhi, will focus on continued excellence in smart, sustainable power delivery and sourcing clean green energy for Delhi in the next five years. Reliance Power is focused on an operating portfolio of 5.3 GW. It has secured renewable energy projects of 3.3 GWh of solar and battery energy storage system (BESS) projects, Asia's largest solar-plus-storage project. 'Pursue your goals even in the face of difficulties, and convert adversities into opportunities — the spirit of the group's legendary and visionary founder, Padma Vibhushan late Shri Dhirubhai H Ambani, resonated throughout the discussion,' the statement added. While Reliance Infrastructure also has interests in defence manufacturing and plays a key role in infrastructure development through special purpose vehicles (SPVs), including projects like the Mumbai Metro, Reliance Power has a total installed capacity of 5,305 MW, including the 4,000 MW ultra mega power project in Sasan, Madhya Pradesh. (With Inputs From PTI)
