New Delhi, July 18 — In a move aimed at accelerating its growth in the rapidly expanding premium home appliance segment, Reliance Retail has announced the acquisition of Kelvinator, a brand renowned globally for over a century for its range of refrigerators, air conditioners, coolers, and washing machines. The company made this announcement on Friday but did not disclose the financial terms of the deal.

As per agency report, Reliance Retail stated that the acquisition will significantly strengthen its leadership in India’s fast-growing consumer durables sector. By integrating Kelvinator’s legacy of innovation with its own extensive retail network, Reliance Retail aims to create greater value for consumers and expand its reach in the premium appliance market across the country.

Isha M. Ambani, Executive Director of Reliance Retail Ventures Limited, described the acquisition as a pivotal moment for the company. She emphasized that acquiring Kelvinator enables Reliance to broaden its offerings with reliable global innovations for Indian consumers, supported by the company’s unmatched scale, robust service capabilities, and a market-leading distribution network.

Reliance Retail further added that the synergies between Kelvinator’s rich heritage of innovation and its own retail infrastructure would ensure that high-quality, globally standardized products are accessible to every Indian household. This, the company believes, will help improve daily life and stimulate further growth in the premium home appliance segment throughout India.

New Delhi, February 14 – In a major move within India's digital entertainment sector, JioStar, the newly merged entity of Viacom18 and Star India, has announced the launch of JioHotstar, bringing together the streaming platforms JioCinema and Disney+ Hotstar under a single banner.

According to the company’s statement, JioHotstar will offer over three lakh hours of entertainment, including live sports, blockbuster movies, and popular shows, catering to more than 500 million users across the country. Subscription plans start at ₹149.

Existing JioCinema and Disney+ Hotstar subscribers will be able to seamlessly transition their current memberships to JioHotstar without any disruption.

Kiran Mani, CEO (Digital) of JioStar, stated, “JioHotstar is built on the vision of making premium entertainment accessible to all Indians. Our promise of limitless possibilities ensures that entertainment is no longer a privilege but a shared experience for everyone.”

The platform will aggregate top-tier Hollywood content from Disney, NBC Universal’s Peacock, Warner Bros. Discovery’s HBO, and Paramount, making them available on a single digital destination.

Additionally, JioHotstar will broadcast major sporting events, including the ICC tournaments, Indian Premier League (IPL), Women's Premier League (WPL), Indian Street Premier League, and other BCCI, ICC, and domestic cricket tournaments. International sporting spectacles such as Premier League, Wimbledon, Pro Kabaddi, and Indian Super League (ISL) will also be featured on the platform.

Sanjog Gupta, CEO (Sports) of JioStar, emphasized the impact of the merger on sports streaming, stating, “In India, sports is not just a game; it is passion, pride, and a shared experience that unites millions. JioHotstar is revolutionizing live sports broadcasting with cutting-edge technology, greater accessibility, and innovative features.”

With this strategic unification, JioStar aims to reshape the digital entertainment landscape in India, offering viewers an unparalleled mix of movies, series, and live sports under one umbrella.

Jamnagar is buzzing with excitement as preparations for the pre-wedding celebrations of Mukesh Ambani's younger son, Anant Ambani, and Radhika Merchant are in full swing. Scheduled from March 1 to March 3, the event promises a lavish affair with artists from around the world gracing the occasion, including several Bollywood celebrities.

The Jamnagar Airport witnessed a flurry of Bollywood actors arriving in style for the festivities. The Ambani family ensured special arrangements for their guests, with luxury cars like BMWs, Range Rovers, and Rolls Royces sent to pick them up. Videos of the arrivals have already gone viral on social media, showcasing the star-studded guest list. Celebrities such as Ranbir Kapoor, Alia Bhatt, Raha, Neetu Kapoor, Shahrukh Khan, Salman Khan, Amitabh Bachchan, Arjun Kapoor, Manushi Chhillar, and Janhvi Kapoor have been spotted in Jamnagar. Renowned designer Manish Malhotra has also arrived, indicating that the Ambani family has chosen his designs for the occasion.

The pre-wedding celebrations are set to be grand, with a lineup of world-class performers. International sensation Rihanna, along with Arijit Singh, Diljit Dosanjh, B Praak, Pritam, Hariharan, and Ajay-Atul, will be entertaining guests over the three-day event.

New Delhi, Jan 29 (IANS) Markets have bounced back strongly after the last two weeks of correction on the back on Reliance Industries which has recorded more than 5% gains in the day so far, says Rahul Sharma , Director, Head - Technical & Derivatives Research at JM Financial Services.

Technically 21,750 is a strong resistance for Nifty around which we expect the current rally to cool off. Supports are placed at 21137 and 20870 on the downside, he said.

Rupak De, Senior Technical Analyst, LKP Securities said the latest breakout in the oil and gas index has propelled the sector into positive territory. The recent consolidation in the Nifty Oil and Gas index concluded with an upside breakout, indicating an increased optimism in the space that may persist in the coming days. Therefore, the sudden surge in energy stocks might continue to bolster the headline index in the short term.

BSE Sensex is trading at 71,876 points, up by 1168.58 points or 1.65 %.

New Delhi, Jan 20 (IANS) RIL trades cheap relative to Nifty. We forecast 12 per cent Ebitda growth in FY25E with Jio contributing lion's share on the back of a tariff hike. Maintain Buy with Rs 3,140 PT, foreign brokerage, Jefferies said in a report.

Sharp decline in capex indicates peak capex is behind and FCF is improving. We have left earnings broadly unchanged. Project 12 per cent Ebitda growth in FY25E, the report said.

3Q capex at Rs 301 billion fell 22 per cent q/q as Jio's capex declined on completion of 5G pan India rollout and Retail capex was low on muted space addition. Headline net debt rose marginally to Rs 1.19 trillion as company extinguished some capex creditors in Jio. We expect Retail capex to decline Rs 150 billion y/y in FY24E and fall further in FY25E. Also, Jio's headline capex should fall Rs 300 billion in FY25E helping improve FCF abating concerns on rise in net debt, the report said.

Consol EBITDA at Rs 407 billion fell 1 per cent q/q and was 2 per cent ahead. O2C and Upstream were ahead while Jio and Retail were broadly inline. PAT at Rs 173 billion was 7 per cent ahead on higher other income and lower interest expense.

Jio results were in line with estimates. Subscriber additions were strong, partly driven by rising adoption of Jio Bharat. Arpu was steady QoQ. Jio has completed pan-India 5G rollout and management indicated a pickup in demand for both Jio AirFiber and Enterprise offerings, which are key to 5G monetisation. We believe focus on monetisation would rise further in FY25. Maintain estimates and valuation at $75 billion, the report said.

Retail is showing signs of acceleration: Core revenue growth, while robust at 30 per cent, was a slight miss. Store throughput saw a modest growth after several quarters of decline, throughput per sq ft rose 4 per cent y/y- both positives. Margin expectedly saw a 40bps expansion, led by efficiencies. Area addition slowed resulting in lower capex. Going forward, we expect capex to stay moderate as peak investments in supply-chain and digital infrastructure are behind and pace of store adds have come-off. We slightly tweak EBITDA estimates and continue to value the business at $107 billion, the report said.

New Delhi, Jan 19 (IANS) Reliance Industries Limited (RIL) declared the consolidated results for quarter ended December 31, 2023.

Gross Revenue was Rs 248,160 crore ($29.8 billion), up 3.2 per cent Y-o-Y, supported by continued growth momentum in consumer businesses.

Revenue for Jio Platforms increased by 11.4 per cent Y-o-Y, led by robust subscriber growth across mobility and homes, and benefit of mix improvement in ARPU.

Revenue for RRVL grew by 22.8 per cent Y-o-Y with strong growth across all consumption baskets with grocery -- 41 per cent, fashion and lifestyle -- 28 per cent, consumer electronics -- 19 per cent.

O2C revenue declined by 2.4 per cent primarily on account of lower price realisation led by 5.3 per cent Y-o-Y decline in average brent crude oil prices.

Revenue from Oil & Gas segment increased significantly mainly on account of higher volumes partly offset by lower gas price realisation from KG D6 field.

EBITDA increased by 16.7 per cent Y-o-Y to Rs 44,678 crore ($5.4 billion).

Key contributors include 11.5 per cent Y-o-Y increase in JPL EBITDA with higher revenue and increase in margins.

Robust 31.1 per cent increase in RRVL EBITDA led by record footfalls amid festive season.

EBITDA margin for RRVL improved by 50bps to 8.4 per cent reflecting operating leverage and continued focus on cost management initiatives.

Sustained performance in the O2C segment with higher gasoline cracks and advantageous feedstock sourcing.

This was partially offset by lower downstream chemical margins and planned maintenance and inspection shutdown.

Planned maintenance and inspection shutdown of CDU, FCCU, Delayed Coking and ROGC complex impacted yields and profitability.

O2C EBITDA would have been higher on Y-o-Y and comparable on Q-o-Q basis if all major units were available during the quarter.

Oil and Gas segment EBITDA increased sharply by 49.6 per cent, led by 72.6 per cent higher gas and condensate production from KG D6 block.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Reliance has delivered yet another quarter of robust operating and financial performance, thanks to the exceptional efforts put in by teams across its businesses.

"I am happy to share that Jio has completed in India the fastest rollout of True 5G services anywhere in the world. Every city, town, and village in the country is now equipped with high-speed digital connectivity, which will usher in a new era of unparalleled digital accessibility and technology-led growth. The strong uptake of the JioBharat phone and JioAirFiber services has resulted in continued expansion of Jio’s subscriber base, contributing to the stellar growth numbers of the digital services business.

"The retail segment has also delivered an impressive financial performance with its rapidly expanding physical as well as digital footprint. Reliance Retail remains focused on enriching customer shopping experience by adding new brands and offerings to its portfolio. Its New Commerce initiatives continue to support the growth journey of millions of small merchants through technology, generating immense societal value.

"The Oil & Gas segment posted its highest ever quarterly EBITDA. I am happy to note that KG D6 is now contributing 30 per cent of India's gas production, fueling its transition towards a greener and cleaner tomorrow. The O2C segment delivered resilient performance aided by operational flexibility and strong domestic demand. Staying true to its commitment to sustainability, Reliance has become the first Indian company to chemically recycle pyrolysis oil into circular polymers.

"The New Energy Giga Complex is all set to be commissioned in the second half of CY24. I am confident that Reliance’s New Energy business will play a pivotal role in the global movement for adoption of cleaner fuels."

New Delhi, Jan 11 (IANS) Reliance Industries' market capitalisation crossed Rs 18 lakh crore on Thursday as the stock hit a record high.

RIL stock jumped 2.5 per cent crossing the Rs 2,700 mark and RIL market capitalisation jumped to Rs 18.36 lakh crore.

Siddhartha Khemka, Head, Retail Research, Motilal Oswal Financial Services, said Nifty traded sideways throughout the session to close marginally positive at 21,647 levels ahead of US inflation data and start of Q3FY24 earnings season from Thursday.

Among the sectors, oil and gas, consumer durables, auto, and PSU banks were top gainers on Thursday. Cement stocks witnessed fresh buying on the expectation of improved demand ahead of the general elections.

IT space is expected to be in focus on Friday as investors would react to TCS and Infosys Q3 results. Their management commentary and guidance would provide an insight into the future outlook for the sector, he said.

Nagaraj Shetti, Senior Technical Research Analyst, HDFC Securities said after showing a sustainable upside from the lows on Wednesday, Nifty shifted into a consolidation with positive bias on Thursday and closed the day higher by 28 points. After opening with positive note, the market started to show gradual weakness amidst a range movement for better part of the session. Buying has emerged during intraday weakness of mid to later part of the session.

New Delhi, Dec 20 (IANS) Reliance Industries -- India’s largest corporate by revenues, profits, market value as well as social impact -- topped the 2023 Wizikey News Score ranking as the country’s most visible corporate in the media.

The Wizikey’s News Score is determined by the volume of news, headlines presence, reach of publications and readership.

Reliance has continued to top the Wizikey News Score annual rankings since their inception for each of the last four years. Most importantly, Reliance has improved its News Score year after year.

For its #1 position Reliance has a News Score of 96.46 for 2023. It was 92.56 for 2022, which was a marked improvement from its News Score of 84.9 in 2021.

Wizikey’s News Score is the world’s first standardised metric to measure news visibility for brands and individuals using Artificial Intelligence, Big Data, Machine Learning and media intelligence. The News Score takes into account various key criteria like volume of news, headline presence, the reach of publications, and readership.

The score ranges from 0 to 100, and is based on monitoring of over 400,000 publications. It represents the media presence of a brand in publications that matter, and is a standard metric score that measures PR efficiency.

According to Wizikey’s research, Reliance stands head and shoulders above the rest in terms of PR efficiency. The RIL’s score at 216.8k in the Volumeparameter, 31.5k under the Headlines parameter, 14.3k under the Publication parameter and 74bn on the Readership criteria – each parameter representing a wide 58 per cent-167 per cent gap over the second-placed SBI.

Reliance Industries is followed by State Bank of India, HDFC Bank, ICICI Bank, and Bharti Airtelin top 5.

Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company.

The continuing leadership in the Wizikey rankings is yet another feather in the cap for Reliance’s in-house communications team, which has won multiple accolades in the past.

New Delhi, Dec 14 (IANS) For the fifth time in succession, Reliance Industries has emerged as the largest Wealth Creator over 2018-23. This takes Reliance’s overall No.1 tally to 10 in the last 17 five-year study periods, as per Motilal Oswal 28th Annual Wealth Creation Study.

Reliance Industries, Lloyds Metals and Capri Global are the biggest, fastest, and most consistent wealth creators, respectively, between 2018 and 2023. Adani Enterprises is the top all-round wealth creator.

Technology sector is the largest wealth creating sector between 2018 and 2023, followed by the Consumer and Financials sector.

A relatively low-profile company, Lloyds Metals, has emerged the Fastest Wealth Creator with 2018-23 Price CAGR of 79 per cent.

Rs 1 million invested in 2018 in the top 10 Fastest Wealth Creators would be worth Rs 10 million in 2023, a return CAGR of 59 per cent vi/s 12 per cent for the BSE Sensex.

Capri Global is the most consistent wealth creator. We define Consistent Wealth Creators based on the number of years the stock has out-performed in each of the last five years. Where the number of years is the same, the stock price CAGR decides the rank.

Based on this, over 2018-23, the relatively low-profile Capri Global has emerged as the Most Consistent Wealth Creator. It has outperformed the BSE Sensex in all the last five years, and has the highest price CAGR of 50 per cent.

PSUs’ (public sector undertakings) Wealth Creation performance during 2018-23 is a significant improvement over the last two studies: 7 PSUs account for 6 per cent of Wealth Created.

Two key factors have driven PSU Wealth Creation -- turnaround by two banks (SBI and Bank of Maharashtra) and growth in the defense sector (Bharat Dynamics, Bharat Electronics and Hindustan Aeronautics).

Financials are the top Wealth Destroyer despite being the third largest Wealth Creator, as per the study. The total Wealth Destroyed during 2018-23 is Rs 17 trillion, 25 per cent of the total Wealth Created by top 100 companies. This remains well below the Covid-hit study period 2015-20.

Six of the top 10 Wealth Destroying companies are from the Financials sector (including Insurance). Interestingly, Financials is the top Wealth Destroying sector, and the third largest Wealth Creating sector at the same time.

New Delhi, Dec 2 (IANS) India's energy requirement is set to double just by the end of this decade, Reliance Industries Chairman Mukesh Ambani said on Saturday.

Speaking at the 11th convocation of Pandit Deendayal Energy University (PDEU), Ambani, who is also the President of the university, said that energy transition has become the most critical factor in ensuring India's transformation into a global leader in green, sustainable and inclusive development. "And PDEU is at the forefront of education and research in this area."

"PDEU has launched four landmark initiatives to train its students in cutting-edge energy technologies that will make the world a greener and better place for future generations. One, a 45 MW Solar PV production line to train students in solar energy production; two, a Smart Hybrid Micro-Grid System to teach students the technique of energy storage; three, an Apple Lab for cutting-edge technology exploration and skill development; and four, a multi-game Sports Arena to produce high-quality sporting talent," he added.

"With both humility and pride, I would like to inform that Reliance Foundation has already paid over Rs 130 crore out of a total commitment of Rs 150 crore to build world-class infrastructure and transform PDEU," Ambani said.

"PDEU is much more than an energy university… It is a crucible where the vision of a clean, green, and sustainable tomorrow is being turned into reality," he said.

"In the next 25 years, India will witness an unprecedented explosion of economic growth. From a $3.5 trillion economy today, it will become a 40 trillion-dollar economy by 2047.

"And to fuel this growth, the country will need enormous amounts of energy – Clean, Green Energy that won’t choke Mother Nature for the sake of human progress," Ambani added.

New Delhi, Oct 27 (IANS) Reliance Jio on Friday successfully demonstrated India’s first satellite-based giga-fibre service to provide high-speed, affordable Internet services in inaccessible areas across the country.

Called JioSpaceFiber, it was showcased on the first day of ‘India Mobile Congress 2023’ in the presence of Prime Minister Narendra Modi.

Jio is partnering with Luxembourg-based satellite telecommunications network provider SES to access the world’s latest in medium earth orbit (MEO) satellite technology, the only MEO constellation capable of delivering gigabit, fibre-like services from space.

“With JioSpaceFiber, we expand our reach to cover the millions yet to be connected,” said Akash Ambani, Chairman, Reliance Jio Infocomm Ltd. 

“JioSpaceFiber will allow everyone, everywhere, to fully participate in the new digital society with gigabit access to online government, education, health, and entertainment services,” Akash Ambani added.

Jio currently delivers high-speed broadband fixed-line and wireless services to over 450 million consumers. 

The satellite network will also support additional capacity for mobile backhaul, further enhancing the availability and scale of Jio True5G in the remotest parts of the country.

Four of the remotest locations in India have already been connected with JioSpaceFiber -- Gir, Gujarat; Korba, Chhattisgarh; Nabarangpur, Odisha; and ONGC-Jorhat, Assam.

“Together with Jio, we are honoured to support the government’s ‘Digital India’ initiative with a unique solution that aims at delivering multiple gigabits per second of throughput to any location in India,” said John-Paul Hemingway, Chief Strategy Officer at SES. 

“Our first fibre-like services from space are already deployed today in parts of India, and we cannot wait to see how this will lead to digital transformation even in the most rural parts of the country,” he added.

Mumbai, Oct 23 (IANS) Reliance Industries, controlled by Asia’s richest tycoon Mukesh Ambani, is nearing a cash and stock deal to buy Walt Disney Co.’s India operations, Bloomberg reported.

The US entertainment giant might sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, Bloomberg reported.

Reliance views the assets at between $7 billion and $8 billion.

The acquisition could be announced as early as next month with some of Reliance’s media units merged into Disney Star, Bloomberg reported.

Under the proposal, Disney will likely continue to hold on to a minority stake in the Indian company after any cash and stock swap transaction is completed.

No final decision has been made on the deal or the valuation, and Disney could still decide to hold onto the assets for a bit longer, Bloomberg reported.