NEW DELHI: Billionaire Mukesh Ambani s Reliance Industries Ltd has bought Britain s iconic country club and luxury golf resort, Stoke Park, for 57 million pounds (about Rs 592 crore).
The acquisition adds to Reliance s current stake in Oberoi hotels and hotel/managed residences in Mumbai that it s developing.
Over the past four years, Reliance has announced $3.3 billion in acquisitions with 14 per cent in retail, 80 per cent in technology, media, and telecom (TMT) sector, and 6 per cent in energy.
The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance s consumer and hospitality assets, the firm said in a filing late on Thursday.
PM Modi asks industry to raise oxygen supply to hospitals
April 23, 2021
‘Industry to utilize tankers meant to transport other gases for oxygen supply’
Prime Minister Narendra Modi on Friday asked domestic oxygen manufacturers, including leading steel and oil industrialists, to increase the availability of oxygen cylinders as well as upgrade the logistics facilities for transportation of oxygen to hospitals.
“He urged the industry to utilize tankers meant to transport other gases for oxygen supply,” said a PMO statement.
The virtual meeting was attended by Steel Authority of India Ltd Chairperson Soma Mondal, Reliance Industries Ltd CMD Mukesh Ambani, Sajjan Jindal of JSW Steel Ltd, Narendran of Tata Steel Ltd, Naveen Jindal of Jindal Steel and Power Ltd, among others.
Lower fuel demand during second wave to squeeze OMC margins
April 23, 2021
The domestic consumption of diesel, petrol fell 12% and 7% respectively on a yoy basis - istock.com/virojt
The domestic consumption of diesel, petrol fell 12% and 7% respectively on a yoy basis - istock.com/virojt×
Refiners have also been diverting a share of the oxygen that they produce to hospitals
The demand for diesel, petrol and aviation turbine fuel are all set to fall in April putting pressure on the gross refining margins (GRMs) of oil marketing companies (OMCs).
“Refinery throughputs will be down as a result of the fall in demand. This will drive up the per-barrel processing cost and impact GRMs of the refiners,” said Prashant Vasisht, Vice President and Co-Head, Corporate Ratings at ICRA Ltd.
Mukesh Ambani s RIL buys UK’s Stoke Park to boost hotel assets
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Reliance Industries Ltd., controlled by Indian billionaire Mukesh Ambani, bought Stoke Park Ltd. for $79 million.
The U.K.-based firm, which owns a hotel and golf course, will add to Reliance’s consumer and hospitality assets, Reliance said in a filing late Thursday.
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