Mukesh Ambani now the 11th richest man in world, the increase in Ambani's total wealth is primarily due to the superb performance of Reliance Industries' shares.
Oil Minister Dharmendra Pradhan on Friday said the government will file an appeal in High Court against a ruling by an international tribunal which rejected its USD 1.55 billion claims against Reliance Industries for allegedly siphoning gas from fields operated by state-owned ONGC
Shares of RIL surged 2.75 per cent to Rs 1,181.35 on Tuesday, while the shares of TCS fell by 0.79 per cent to Rs 1,929.55.
Reliance Industries shares hit an all-time high, breaching the 100-billion dollar mark for market capitalisation, a feat achieved by the company only once before in 2007
Ambani has been appointed for a period of five years, which commences from April 19, 2019.
Ambani said that the ultra-high speed fixed line broadband services will be launched for homes and enterprises.
Reports suggest Ambani might announce the commercial launch of wired broadband service JioFiber and its price plans.
The pre-engagement party of Akash, the eldest son of Reliance Industries chairman, witnessed Bollywood stars like Shah Rukh Khan, wife Gauri, Priyanka Chopra, Alia Bhatt, Ranbir Kapoor, Karan Johar and several others in attendance.
Speaking at the UP Investor Summit, Mukesh Ambani said the investment will be over and above the Rs 20,000 crore Jio has already invested in the state in rolling out high-speed 4G telecom venture.
Eros group chief executive and managing director Jyoti Deshpande would be stepping down after 17 years to head the media and entertainment business at Reliance as president at the RIL chairman's office.
At the close of trade today, TCS' market capitalization (m-cap) stood at Rs 6,11,634.03 crore (Rs 6.11 trillion), which is Rs 1,170.86 crore more than RIL's Rs 6,10,463.17 crore.
According to the company, the 3Q FY18 revenue from the refining and marketing segment increased by 23 per cent on a Y-o-Y (year-on-year) basis to Rs 75,865 crore ($11.9 billion) aided by 24 per cent higher Brent oil prices.
Shah Rukh Khan, Alia Bhatt, Amitabh Bachchan and Ranbir Kapoor pose for an iconic picture together
Ambani said it is because of Dhirubhai Ambani that Reliance had grown from one employee to over 250,000 and from a Rs 1,000 company to over Rs 6 lakh crore.
Reliance Industries Ltd (RIL) owes "additional surcharge" of more than Rs 1,900 crore to state- run agency MMRDA for delay in development of plots in Mumbai.
The richest newcomer in the list is Wadia Group of companies Chairman Nusli Wadia (No. 25, $5.6 billion).
14 Indian energy companies made it to the S&P Global Platts Top 250 Global Energy Company Rankings
Investment banking firm CLSA expects the reduction in IUC to translate into 8 per cent higher consolidated earnings per share for RIL between FY18 and FY20
Shares of Reliance Industries scaled to a new all-time high following TRAI's decision to cut IUC to 6 paise per minute from October 1
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