Reliance Chairman Mukesh Ambani's son, Anant Ambani, completed a 170-kilometre spiritual walk from Jamnagar to Dwarka on the occasion of Ram Navami, three days before his 30th birthday. Despite personal health challenges, Anant walked the entire route on foot and was joined by his mother and wife on the last day. He credited his father for encouraging him to undertake the journey and offered prayers at the Dwarkadhish temple upon its completion.
Anant Ambani, the son of India's richest man and Director of Reliance Industries Limited, is currently on a spiritual journey, walking barefoot from his residence in Jamnagar to the Dwarkadhish Temple in Gujarat. He is accompanied by spiritual leader Baba Bageshwar and has been chanting prayers and stopping at various temples along the 140-kilometre route. Despite facing significant health challenges throughout his life, Ambani's devotion to Lord Dwarkadhish and his actions towards animal welfare have inspired many. His journey has also garnered attention from devotees, who have flocked to greet and offer their blessings.
According to the Comptroller and Auditor General of India's report, state-owned telecom company BSNL incurred a loss of Rs 1,757.76 crore due to financial lapses in its Master Service Agreement with Reliance Jio Infocomm Ltd (RJIL). These lapses include BSNL's failure to enforce contractual terms, leading to revenue shortages and loss of potential interest. The report also highlights additional losses incurred by BSNL due to inefficient planning and procurement, resulting in unnecessary expenditure and non-realization of tax credits.
The district officials, including Collector A Thameem Ansariya and SP AR Damodar, along with local MLA Dr Mukku Ugranarasimha Reddy, inspected the preparations for the groundbreaking ceremony for a 100-ton Compressed Biogas Plant by Reliance Industries. The state government plans to set up 500 similar plants with a 20-ton capacity in various districts, which are expected to provide employment opportunities and boost land value. Education Minister Nara Lokesh and Reliance Industries director Anant Ambani will be present at the ceremony. District authorities are taking measures to ensure the smooth execution of the event, including heightened security measures and drone surveillance.
Telecom Regulatory Authority of India (Trai) is expected to speed up its recommendations on satellite spectrum pricing after recent strategic partnerships between Bharti Airtel and Reliance Jio with global satcom players such as Starlink and Amazon Kuiper. Trai is adopting a cautious approach towards satellite communications technology and may recommend that satellite services initially focus on areas lacking mobile coverage. This move could alleviate concerns regarding global satcom players capturing urban market share without participating in spectrum auctions. Trai wants to retain the discretion to make amendments in a changed scenario and this phased approach would enable it to test and monitor the effectiveness of satellite networks.
The latest report from the Telecom Regulatory Authority of India (TRAI) shows that Reliance Jio added 3.9 million wireless subscribers in December 2024, solidifying its position as the dominant player in the Indian telecom market. Meanwhile, Vi and BSNL faced significant subscriber losses, with Vi losing 1.715 million subscribers and BSNL losing 0.322 million subscribers in the same period. In other news, Bharti Airtel has announced a partnership with Elon Musk's SpaceX to offer Starlink's high-speed internet services to customers in India, pending necessary approvals.
Reliance Jio follows Airtel's footsteps in partnering with SpaceX to bring Starlink's satellite broadband internet services to India. This move is seen as a strategic step towards providing reliable and accessible high-speed internet in the country, especially in remote areas. However, SpaceX is yet to be granted permission to operate in India and discussions on spectrum allocation for satcom services are still ongoing. Meanwhile, rival Airtel also jumps on the Starlink bandwagon, despite its stake in competing satellite company Eutelsat. The telecom industry is now calling for fair policies for satcom firms, including spectrum and license fees.
After the Indian cricket team emerged victorious in the ICC Champions Trophy final against New Zealand, business leaders and tech moguls alike showered the team with praise. Microsoft CEO Satya Nadella called them "legends", while Reliance Foundation chairperson Nita Ambani declared it the realization of a billion dreams. Mahindra group chairman Anand Mahindra even shared the definition of "champions" to aptly describe the team's exceptional performance. All in all, it was a proud and historic moment for India as the Men in Blue lifted the trophy for the third time, making the nation shine on the world stage once again.
The Ministry of Heavy Industries has awarded a 10 GWh capacity under the Production Linked Incentive Scheme for Advanced Chemistry Cell Battery Storage to Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited. The signing of the Programme Agreement marks another milestone in the implementation of India's National Programme on Advanced Chemistry Cell Battery Storage. With this latest allocation, a total of 40 GWh capacity has been awarded to four beneficiary firms, bringing India closer to achieving its goal of 50 GWh domestic manufacturing capacity.
Reliance Industries, led by Mukesh Ambani, announced its Q3 results for 2024 with a 7.38% increase in consolidated net profit and a 7.8% jump in consolidated EBITDA as compared to the previous year. The company also reported outstanding debt of ₹3,50,453 Crore and cash and cash equivalents of ₹2,34,988 Crore. Its telecom arm, Jio Platforms, witnessed a 19.2% YoY rise in revenue and a total subscriber base of 48.2 Crore as of December 2024. The company's strong performance reflects its continued growth and stable financial position in the market.