Heena Sharma Blog

  Billionaire Mukesh Ambani's Reliance Industries Ltd will bear the cost of vaccinating its employees and their immediate family, totaling an estimated 12.2 lakh, as the oil-to-telecom conglomerate looks to safeguard them against the COVID-19 virus . India's largest private company joins the likes of IT giants Tata Consultancy Services (TCS), Infosys, Accenture, and public sector lender State Bank of India among others who are bearing the cost of vaccination of their employees and their dependents. "As per our earlier commitment, Reliance will bear the full cost of vaccination for you, your spouse, your parents, and vaccine-eligible-aged children. You and your family's safety and well-being is our responsibility," said Nita Ambani, non-executive director, Reliance Industries and chairperson of Reliance Foundation, in an internal communication to all employees. The firm has tied-up with specific hospitals to roll outthe vaccination drive for employees at the...

  The BSE barometer Sensex scripted history on Thursday, January 21, when it scaled Mount 50,000 for the first time. The 30-pack index galloped from 40,000-mark hit on October 8, 2020 to 50,000 in just 74 sessions and from 45,000 level (scaled on November 4, 2020) in mere 32 trading days. When the index had plummeted to the lows of 25,000 at the peak of the Covid-19 crisis, there was little to no one who had envisaged such a meteoric rise from the index's three-year low. A plethora of factors have fuelled such a rally in the index, ranging from liquidity push by the central bankers to FII buying, and recovery in economic growth. Latest developments on the Covid-19 vaccine front and a change of guard in the United States too lent confidence to investors to keep ploughing money in the market. Read More

Billionaire Mukesh Ambani's Reliance Industries has started testing WhatsApp to connect customers to grocery stores, days after Facebook decided to invest $5.7 billion in digital assets controlled by the company. JioMart , an e-commerce venture of Reliance Retail, "has already started interacting with customers on WhatsApp for grocery orders" in Navi Mumbai, Thane and Kalyan, Credit Suisse said in a report. "The customer initiates the interaction on WhatsApp, checks out the grocery order on JioMart webpage, gets connected with a retail store on WhatsApp and then customer picks up the order from Kirana and pays in cash," it said, adding the model is likely on delivery and completion of the transaction on one app. Read More

Among Mumbai’s glitziest society events over the past year were two weddings in the family of Mukesh Ambani , the tycoon who in 2018 became Asia’s richest person. In December, his 27-year-old daughter Isha got married in a Bollywood-style extravaganza attended by global power brokers and titans of finance. Beyonce sang at the festivities, Hillary Clinton flew in and KKR & Co.’s Henry Kravis made an appearance. In March, her twin brother Akash wed in a ceremony attended by the likes of Google Chief Executive Officer Sundar Pichai. The lavish events put Ambani’s eldest children in a very public spotlight at a time when they are playing more visible roles at his Reliance Industries Ltd.’s retail and telecommunications businesses. Ambani, 62, has big ambitions in new areas like e-commerce and is enlisting his children to help drive the modernization of his empire. The rise of the twins offers early signs of the efforts the titan is making to groom his heirs. The billionaire ...

Reliance Industries (RIL) Chairman Mukesh Ambani on Tuesday said it is a major task to ensure that new technologies create more employment opportunities compared to the amount of job losses they cause. Speaking at MobiCom 2018 here, he also said that he is optimistic about technological disruption creating more opportunities despite all the apprehension. A major task is "to ensure that new and disruptive technologies create more employment opportunities than they take away," Ambani said. Although he expressed optimism regarding employment opportunities, he said there is apprehension in the society regarding the same and these apprehensions may delay the process of digital transformation. "These very apprehensions could resist or delay digital transformation of our societies. That would be a mistake," he noted. Ambani emphasised that governments, businesses and civil society organisations should put together an ecosystem for massive upskillin...

Reliance Industries Chairman Mukesh Ambani on Thursday said India was set to become a fully 4G country by 2020, with every mobile phone in India equipped with 4G data connectivity. He was speaking at the annual Indian Mobile Congress in New Delhi. "India has moved from 155th rank in mobile broadband penetration to being the number 1 nation in mobile data consumption in the world... in less than two years. This is the fastest transition anywhere in the world from 2G/3G to 4G. By 2020, I believe that India will be a fully 4G country and ready for 5G ahead of others. Every phone in India will be a 4G enabled phone and every customer will have access to 4G connectivity," Ambani said. Here is the full speech of Mukesh Ambani , whose Reliance Jio Infocomm has come up in the past few years as a major disruptor in the telecom data space Business Standard

Thus far in calendar year 2018, RIL has outperformed the benchmark indices to rally 36.85% Markets News : Reliance Industries on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm At 1:59 pm, RIL's market capitalisation (m-cap) stood at Rs 8.01 trillion. In intra-day deals, the stock hit a new high of Rs 1,262.95, up over 1%, extending its gains over the past four trading days. Thus far in calendar year 2018, Mukesh Ambani-controlled RIL has outperformed the benchmark indices and rallied 36.85%. In comparison, the S&P BSE Sensex has gained 12.53% during this period. The company recently reported 17.9% year-on-year (y-o-y) growth in consolidated net profit at Rs 94.59 billion in June quarter (Q1FY19). During the June quarter, its consolidated revenue grew 56.5% yoy at Rs 1,417 billion. The company’s consumer businesses accounted for nearly 21% of consolidat...

Company creating platform for building corpus and setting up full-fledged sustainability team Companies News : The Maharashtra government’s decision in March to partially ban the use of plastic has put the country’s largest polymer producer in recycle mode. The Mukesh Ambani-led Reliance Industries (RIL) is now creating a platform for recycling, building a corpus and setting up a full-fledged sustainability team. “The ban from Maharashtra was more of a wake-up call for the industry,” said Vipul Shah, chief operating officer of RIL's petrochemicals business. RIL had homework in place over the last couple of years. The ban accelerated the process, he added. “There was earlier a small team of two to three people working on a smaller project like bottle recycling. We now have a full-fledged department for sustainability of seven to eight people working full time and another 10-12 moonlighting,” Shah added. RIL is the country’s largest producer of polymer, the main r...