Reliance Industries Limited (RIL) has agreed to acquire a stake of 79.4% in SenseHawk, a California-based start-up that develops software-based management tools for the solar energy generation industry. The consideration of the deal is $32 million, which covers funding for future growth, commercial launch of products, and research and development (R&D). SenseHawk is said to […]
Reliance Industries said that Jio Platforms is partnering with social technology company Meta to launch ‘JioMart on WhatsApp’ — an end-to-end shopping experience on WhatsApp to enable consumers to shop from JioMart from their WhatsApp chat itself. JioMart on WhatsApp will let users in India, including those who are yet to shop online browse through […]
Reliance Industries Limited (RIL) has reported a 40.8% increase in its net profit for the quarter ended 30 June 2022 (1Q FY23) to INR 19,443 crores ($2.5 billion), compared to INR 13,806 crores ($1.73 billion) in net profit for the same period in the previous fiscal year. In the previous quarter, that is 4Q FY22, […]
Reliance Industries Limited (RIL) has reported a 20.2% increase in its net profit for the quarter ended 31 March 2022 (4Q FY22) to INR 18,021 crores ($2.4 billion), compared to INR 14,995 crores ($1.95 billion) in net profit for the same period in the previous fiscal year. In the previous quarter, that is 3Q FY22, […]
Reliance Industries said that its fully-owned subsidiary — Reliance New Energy has agreed to acquire substantially all of the assets of Lithium Werks, a Netherlands-based lithium battery manufacturer, for a sum of $61m, which includes funding for future growth. The assets involved in the deal include the full patent portfolio of Lithium Werks, its manufacturing […]
Reliance Industries Limited (RIL) has reported a 37.9% increase in its net profit for the quarter ended 31 December 2021 (3Q FY22) to INR 20,539 crores, compared to INR 14,894 crores in net profit for the same period in the previous fiscal year. In the previous quarter, that is 2Q FY22, the Mukesh Ambani-led group […]
Reliance Industries Limited (RIL) has inked a memorandum of understanding (MoU) with the Gujarat government to invest INR 5.955 lakh crores ($80 billion) in green energy and other projects in the state. The investment has been announced as part of the investment promotion activity for Vibrant Gujarat Summit 2022. According to Reliance Industries, the projects […]
The Mukesh Ambani led Reliance Industries Limited is set to acquire a 73.37% stake in Mandarin Oriental New York, a luxury hotel in New York City for about $98.15 million. The transaction will be carried out by the Indian conglomerate’s fully-owned subsidiary — Reliance Industrial Investments and Holdings Limited (RIIHL). It will be through the […]
Reliance Industries said that its fully-owned subsidiary Reliance New Energy Solar (RNESL) has signed a £100 million deal to acquire Faradion, a British sodium-ion battery technology company. Additionally, Reliance New Energy Solar will invest £25 million as growth capital in Faradion to accelerate the commercial launch of the latter’s sodium-ion battery solutions. Faradion, which is […]
Reliance Industries Ltd (RIL) announced that it will withdraw its application to obtain the requisite approvals from the National Company Law Tribunal (NCLT) regarding the spinning off of its oil-to-chemicals (O2C) business into an independent entity. The Indian conglomerate said that the reason for the move is the evolving nature of the oil-to-chemical business. The application currently […]