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Vodafone Idea stock investors. The message, analysts said, is: the wait for tariff hikes can be prolonged. Jio along with Reliance Retail has rolled out its ‘New JioPhone 2021’ offer starting March 1 in a bid to upgrade 30 crore 2G subscribers to 4G services. The news should worry Vodafone Idea s investors more than Bharti Airtel s, analysts said. New users under this scheme will be provided a JioPhone device along with unlimited voice calls and data of 2 GB per month for one year at Rs 1,499, and for two years at Rs 1,999. Existing users can opt for the same, unlimited service for one year at Rs 749. The move is seen targeting bottom-of-the-pyramid subscribers. ....
Mukesh Ambani’s Reliance hives off O2C business ahead of Aramco deal BCCL Reliance Industries Limited announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary. Reorganisation of O2C business facilitates participation by strategic investors and marquee sector focused investors, it added. Mumbai-headquartered oil major also announced that it aims to work with the O2C business to reduce its carbon footprint and become net carbon zero by 2035. Mukesh Ambani-owned Reliance Industries Limited, India s most valuable company, announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary. In a late-night filing to stock exchanges, the company said the reorganization would enable a focused pursuit of opportunities across the O2C value chain, improved efficiencies through a self-sustaining capital structure. ....
Mukesh Ambani poorer by Rs 23,871 crore in stocks crash as Sensex slips below 50K Share Synopsis The ordinary shares of Reliance Industries closed down 3.52 per cent at Rs 2,007.40. The partly-paid shares slumped 4.52 per cent to Rs 1,133.70. The equity wealth of Mukesh Ambani and his family, which is largely concentrated in RIL, declined to Rs 6,47,421 crore from Rs 6,71,292 crore on Friday. Related NSE Explore Now NEW DELHI: Mukesh Ambani, the richest man in India, lost Rs 23,871 crore as investors dumped Reliance Industries (RIL) stocks along with other high-flying names on Monday as rising coronavirus cases spooked markets. RIL shares also took a hit after the Supreme Court halted the Reliance Retail deal to acquire Future Group assets. Interestingly, the deal size at Rs 24,713 crore was similar to Ambani’s wealth loss on Monday. ....