Latest news with #MukeshAmbani
India.com
13 hours ago
- Business
- India.com
Not Mukesh Ambani's Reliance or Ratan Tata's TCS, this company emerges as India's top foreign earnings firm, total earnings was Rs..., company is...
Not Mukesh Ambani's Reliance or Ratan Tata's TCS, this company emerges as India's top foreign earnings firm, total earnings was Rs..., company is... India's leading IT company, Infosys, has outperformed major firms like Reliance and TCS when it comes to earning money from foreign markets. Thanks to its strong global presence and digital transformation services, Infosys has shown impressive growth internationally. In the fourth quarter of the financial year 2024-25, Infosys earned a total revenue of Rs. 40,925 crore. Out of this, a massive USD 473 million (over Rs. 37,000 crore) came from international business. That means nearly 90 per cent of the company's total income came in US dollars. Even in the third quarter of the same financial year, Infosys had done very well globally. The company earned Rs. 41,764 crore in total, and out of that, USD 493.9 million came from foreign clients. This clearly shows that a major part of Infosys' earnings comes from outside India. Infosys earns big from these countries Infosys is doing extremely well in international markets. The company offers IT services in several countries, especially in North America, Europe, the Middle East, Australia, and Japan. Over the past few years, Infosys has seen strong growth in financial services in the US and Europe. Looking at the numbers for the financial year 2023-24, Infosys earned USD 18.6 billion in revenue. Out of that, more than 97 per cent came from foreign markets. Around 61 per cent of this was from North America, 25 per cent from Europe, 11 per cent from regions like the Middle East, Australia, and Japan, and only 3 per cent from India. These numbers clearly show that most of Infosys' income comes from developed regions like North America and Europe. Even though companies like Reliance and TCS may have higher overall revenue, when it comes to earnings from outside India, Infosys leads the way. Reasons behind Infosys' global success Infosys has outperformed many Indian companies in terms of foreign revenue by taking several smart steps. Here's how they did it: Focus on Digital Services: Around 57 per cent of Infosys' total income comes from digital services like cloud computing, data analytics, and artificial intelligence. Its AI platforms like Aster and Topaz are built especially for global clients. Global Reach: Infosys operates in over 55 countries. Among them, North America and Europe are the strongest markets. Strategic Acquisitions: In recent years, Infosys has acquired several companies that have helped improve its digital and marketing capabilities. Skilled Workforce: Infosys focuses heavily on upskilling its employees in digital technologies. About 85 per cent of its global workforce is based in India. The company is well known for its talented and tech-savvy employees. While Infosys has seen great success in foreign markets, fluctuations in the value of the Indian rupee can impact its foreign earnings.
India.com
13 hours ago
- Business
- India.com
Masterstroke by Modi govt, India makes big move for this country, Pakistan, China in tension due to...
Masterstroke by Modi govt, India makes big move for this country, Pakistan, China in tension due to... New Delhi: India has given Saudi Arabia's Public Investment Fund (PIF) a special exemption from some foreign investment rules. The decision has been taken by the Indian government with an aim to attract more capital and boost financial ties between the two countries. This will also strengthen relations between New Delhi and Riyadh. The move will also enable the Middle East country to invest more in India. A lot of money from Saudi Arabian companies is invested in Mukesh Ambani's companies. According to the current rule, if a foreign company of any country invests in India, then its investment coming from different parts will be considered as one, with an investment limit of 10 percent. Because of this rule, companies of Saudi Arabia's Public Investment Fund (PIF) were not able to invest much in India. This move by India will give tensions to China and Pakistan as both the countries also want to improve their economic relations with Saudi Arabia. What Will Happen Now? The Indian government has exempted Saudi Arabia's PIF from the current rule. It simply means that different companies of PIF will now be able to make separate investments in the country. This will make it easier for them to invest money in the Indian stock market. India wants Saudi Arabia to invest more in the country. Saudi Arabia has a lot of money to invest and India needs that money for development work. The middle east country also wants to invest in fast-growing countries such as India. Under 'Vision 2030', Saudi wants to remove its economy from dependence on oil. Discussion Between The Two Countries? During Prime Minister Modi's April visit to Saudi Arabia, both nations committed to boosting investment collaborations in energy, infrastructure, and healthcare. Simultaneously, negotiations are underway for a bilateral investment treaty. However, a Reuters source indicates that restrictions on combining investments from various sovereign entities may hinder the Saudi fund and its affiliates from investing autonomously. What Is PIF? The Public Investment Fund (PIF), a major global sovereign wealth fund with approximately USD925 billion in assets, has invested USD1.5 billion in Jio Platforms and USD1.3 billion in Reliance Retail, both Indian companies. This investment aligns with India's aim to attract long-term capital from Gulf nations, particularly given India's significant oil imports, and Saudi Arabia's 'Vision 2030' plan to boost investment in rapidly expanding economies. To achieve these goals, both the countries have formed a high-level task force last year. It aims to expedite Saudi's plan to invest USD 100 billion in India. Tax exemption can be available As per reports, the Indian government is also mulling about giving tax exemption to PIFs. The fund coming from the investments will be used in infrastructure and energy sector.
India.com
a day ago
- Automotive
- India.com
Mukesh Ambani plans to buy a big British company for Rs 83000 crore, company is..., bidding to start from...
British energy giant BP is planning to sell its lubricant business, Castrol. According to a report by Bloomberg, BP has already started the process to find a buyer. Castrol is known for making industrial and automotive lubricants and has a strong global presence. As per the report, several large business groups and investment firms have shown interest in buying Castrol and among them is Reliance Industries Limited, owned by billionaire Mukesh Ambani. Other major investment companies like Apollo Global Management and Lone Star Funds are also preparing to take part in the deal. Citing sources, the report said the potential deal for Castrol could be worth between USD 8-10 billion (approximately Rs 66,400 crore to Rs 83,000 crore), adding that initial bids are expected to begin in the coming few weeks, and it is likely that several companies may place bids together. Why is BP selling Castrol? BP is selling Castrol as part of its plan to reduce debt. Back in February, the company announced it would sell some of its assets to raise around USD 20 billion by 2027. The sale of Castrol is part of that strategy. According to reports, BP has already shared early details about the sale with potential buyers, including big names like Brookfield Asset Management and Stonepeak Partners. The deal could fetch BP anywhere between USD 8 to USD 10 billion. The sale process is still in its early stages, and initial bids are expected in the coming weeks. So far, there's no final decision or confirmed price. There's also talk that Saudi Aramco, the world's largest energy company, might join the bidding. In March, it was reported that Aramco was considering an offer. Some buyers may even team up to make a joint bid. What makes Castrol valuable? Castrol is well known for producing lubricants for cars and industrial use. In recent years, it has also been developing liquid cooling technology for AI data centers, a field that's gaining a lot of attention as artificial intelligence grows. Reliance Industries other acquisition Mukesh Ambani's Reliance Industries is also known to have acquired assets in the UK, including the Stoke Park luxury hotel and the toy retailer Hamleys. Reliance Industries is a global conglomerate with diverse interests including petroleum refining, petrochemicals, and retail.
India.com
2 days ago
- Business
- India.com
Mukesh Ambani, Nita Ambani, Azim Premji, Nikhil Kamath....these Indians are mentioned in....
TIME magazine's 2025 list of the 100 most influential people in philanthropy has honored Mukesh Ambani, Nita Ambani, and other prominent Indian personalities for their remarkable contributions to society. It was released by TIME magazine which recognizes individuals and organizations for their philanthropic work worldwide. Mukesh Ambani and Nita Ambani are r ecognized for their contribution of Rs 407 crore in 2024. Their initiatives helped millions in education, healthcare, and rural development. Azim Premji, the former chairman of Wipro is also on the list. Nikhil Kamath, entrepreneur and co-founder of Zerodha also acknowledged for his charitable initiatives. The list has other influential personalities from 28 countries like David Beckham (UK) recognized for his advocacy in children's health and education. Oprah Winfrey (USA) also known for her contributions to education and women's empowerment. Dolly Parton (USA): Honored for her efforts in literacy and disaster relief. Jack Ma (China) acknowledged for his work in education and entrepreneurship and Prince William (UK) for his environmental conservation initiatives. Mukesh Ambani and Nita Ambani have 'funded initiatives affecting millions of Indians that have provided funding for scholarships; helped women strengthen their career skills; assisted rural communities with sustainable agriculture initiatives; supported water conservation projects; paid for the construction of hospitals; aided people with vision problems; and improved infrastructure for schools.' All told, the couple gifted Rs 407 crore (about USD 48 million) in 2024, placing them among the country's biggest donors, as per TIME magazine. Nita Ambani, who co-owns the Mumbai Indians with her son Akash, leads a number of the foundation programs to nurture and develop athletes by providing them with world-class facilities and coaching based on the latest in sports science, with a particular focus on female athletes.
India.com
2 days ago
- Business
- India.com
Masterstroke by Anil Ambani as he invests Rs 17600000000 in..., Ambani raised these funds from...
Anil Ambani (File) Anil Ambani, the younger brother of Asia's richest man, Mukesh Ambani has witnessed a remarkable turnaround of fortunes of late, especially in the current financial year, with many of his Reliance Group companies now debt-free and making significant profits. Anil Ambani's sons Jai Anmol Ambani and Jai Anshul Ambani have set the Reliance Group on the path of revival, with the group's companies recently acquiring some major contracts, including Japanese firm Nippon making a substantial investment in Reliance Capital. The impact of the Nippon deal was quickly visible as the debts of several Reliance Group companies began to decrease, but the group is still facing a mountain of loans which it needs to settle in order to avoid bankruptcy. How Reliance Infra and Reliance Power became debt-free? Last year, Anil Ambani raised Rs 17,600 crore to further reduce the debt burden of his companies. According to media reports, only two listed companies of Anil Ambani's Reliance Group, Reliance Infra and Reliance Power, have managed to become completely debt-free, while most of group's other firms still owe substantial amounts to creditors. Both Reliance Infra and Reliance Power, along with their subsidiaries, started repaying loans in September last year, and are now debt-free, as per reports. Anil Ambani began investing funds into both these companies in August 2024, and funds were raised through Foreign Convertible Currency Bonds (FCCB) and Preferential Issue. How Anil Ambani raised Rs 17,600 crore? Together, Reliance Infra and Reliance Power issued a preferential equity issue worth Rs 4500 crore, apart from raising Rs 7100 crore from Varde Partners via FCCB. Additionally, the two firms also raised Rs 3000 crore each Qualified Institutional Placement (QIP). Thus, Anil Ambani revived Reliance Infra and Reliance Power by raising Rs 17,600 crore. Meanwhile, the combined market cap of Reliance Power and Reliance Infra reached Rs 33000 crore on Thursday, even as as shares of three Reliance Group companies witnessed a strong uptick last week. Recently, Reliance Group acquired a Rs 2000 crore contract for a setting up a solar project in Bhutan, while Reliance Defence– a subsidiary of Anil Ambani-led Reliance Infrastructure Limited– has signed a deal with German arms maker Rheinmetall AG to manufacture ammunition.
