Shares of Vodafone Idea Ltd ended over 9 percent higher on Thursday after British telecom giant Vodafone Plc said it has advanced infusion of $200 million (about Rs 1,530 crore) in its Indian joint venture with Aditya Birla Group, that is facing a humongous liability of past statutory dues
The telecom industry had been pushing for opening up retail recharge points, particularly to help feature phone mobile users to go in for recharges.
Reliance Industries Ltd has cut crude oil processing at its exports-only refinery at Jamnagar in Gujarat in March by close to one-fourth as it joins public sector oil firms in cutting run-rate to align production with a coronavirus-induced slump in fuel consumption
The Sensex surged over 483 points on Thursday, tracking gains in IT and banking stocks as expectations of another stimulus package from the government enthused investor sentiment
The RBI has further given a stimulus to the economy by announcing the second tranche of liquidity with a 25 basis point reverse repo cut taking it to 3.75 percent from 4 percent earlie
Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd (RIL) has regained the 'richest person in Asia' tag after Facebook's $5.7 billion (Rs 43,574 crore) investment in Jio Platforms on 22 April.
IndiGo CEO Ronojoy Dutta told employees on Thursday that the airline has decided to roll back the pay cuts, which were announced earlier for senior staff members, for the month of April in deference to the "government's wishes"
The country's crude steel output decline 14 percent to 8.65 million tonne (MT) during March, according to a report by the World Steel Association
Haryana Chief Minister Manohar Lal Khattar on Wednesday sought to assure the industry owners that no FIR will be registered against any unit owner, who has been given permission to restart unit during the lockdown, if any of their worker contracts coronavirus
With pharmaceutical supply chains under immense pressure due to COVID-19, China's role as a global ingredient producer has come under scrutiny, Fitch Solutions has said
The government on Wednesday approved nutrient-based subsidy rates for phosphatic and potassic (P&K) fertilisers for the current financial year with an estimated burden of Rs 22,186 crore on the central exchequer
Facebook's Rs 43,574 crore-investment in Jio Platforms earned accolades from industry leaders on Wednesday, even as some internet activists raised privacy concerns
A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month as the novel coronavirus savages the economy
The Finance Ministry on Wednesday notified changes in FDI rules, which made prior approval of the government mandatory for foreign investments from countries that share border with India, to prevent the opportunistic takeover of domestic firms amid COVID-19 pandemic under the FEMA law
The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday
The Indian rupee appreciated by 48 paise to 76.20 against the US dollar in early trade on Thursday tracking positive opening in domestic equities and rebound in most Asian currencies
One of the leasing companies started to pull out a few planes earlier this year after SpiceJet failed to pay maintenance fees due since late last year
Facebook has bought a 9.9 percent stake in Reliance Jio in a multinational-dollar deal.
Facebook has bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), the telecom unit of Reliance Industries Ltd (RIL
Facebook makes the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India, Reliance Industries Limited (RIL) said in a statement.
Facebook is investing $5.7 billion in Reliance Industries Ltd's (RIL) Jio Platforms
The deal for 9.99 percent of Jio Platforms, which houses the telecoms unit Jio Infocomm as well as other news, movie and music apps, gives Jio Platforms an enterprise value of about $66 billion, Reliance said.
In a video statement, Mukesh Ambani said he is delighted to welcome Facebook as a long-term partner and said the two companies will together accelerate India’s digital transformation to empower, enable and enrich people.
The multibillion-dollar deal gives the Facebook a firm foothold in a fast-growing massive market and helps the Reliance Jio, the Indian oil-to-telecom conglomerate to significantly cut debt.
Facebook’s investment in Jio took the country's largest telecom company to the top-five league in market capitalisation, the report said.
In the FAQ issued on 4 March, the CBDT said that where notice for initiation of prosecution has been issued with reference to tax arrears, taxpayer has a choice to compound the offence and opt for Vivad se Vishwas.
Anand Mahindra, Group Chairman, Mahindra lauded Mukesh Ambani, Chairman, Reliance Industries for mega Rs 43,574 -crore Reliance Jio-Facebook deal.
Reliance Jio's tariffs are already at a 7-20 percent discount to those of peers.
Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion (Rs 43,574 crore) to buy a 10 percent stake in Jio Platforms
Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in the market, officials said on Wednesday