Home Tags Posts tagged with "reliance industries"
Tag:

reliance industries

Reliance Industries Ltd (RIL), led by billionaire Mukesh Ambani, has seen its cash reserves skyrocket to an impressive $25 billion (₹2.1 lakh crore) as of March 2024. This milestone positions RIL with the highest cash reserves among India’s listed companies. The cash and cash equivalents of RIL increased by nearly ₹16,000 crore from the previous quarter.

To put this into perspective, around 78% of Nifty200 companies have a market capitalization of less than ₹2 lakh crore, and only 8% of them report revenues exceeding ₹2 lakh crore in FY24.

During the fiscal year, RIL invested ₹1.32 lakh crore ($15.8 billion) in capital expenditure. This spending focused on the nationwide rollout of 5G, expansion of retail infrastructure, and ventures into new energy sectors. As of March 2024, RIL’s net debt stood at $13.9 billion (₹1.2 lakh crore), and the company aims to maintain a net debt to EBITDA ratio of less than 1x.

According to JP Morgan, RIL’s retail and telecom businesses contribute to 50% of the company’s total consolidated EBITDA. The brokerage forecasts that these sectors will account for 95% of RIL’s EBITDA growth over the next three years. “RIL has operated at material negative free cash flow (FCF) for the last three years, driven by spending in Telecom. As that fades, with an EBITDA run-rate of $20 billion a year, the company is expected to deliver positive free cash flow for the next three years,” noted JP Morgan in an investor briefing.

In FY24, RIL reported its highest-ever revenue, exceeding ₹9 lakh crore, driven by strong performance in its consumer and upstream businesses. It also became the first Indian company to surpass the ₹1 lakh crore mark in pre-tax profit. The company’s net profit rose by 7.3% to ₹79,020 crore ($9.5 billion).

On the stock market, shares of Reliance Industries surged by 2.2% on Friday, reaching a new record high of ₹3,197.65 on the NSE. Since the beginning of the year, the stock has rallied by 23%, outpacing the benchmark Nifty50, which has gained 12% in the same period.

0 comment
0 FacebookTwitterPinterestEmail

A visionary move that could transform the way India connects to the world, Mukesh Ambani’s Reliance Jio is now set to launch its satellite broadband service, JioSpaceFiber, akin to Elon Musk’s Starlink. This innovation promises to provide high-speed broadband services to previously underserved regions within the country, expanding internet accessibility and ushering in a new digital era. During the recent India Mobile Congress, Akash Ambani, Chairman of Reliance Jio Infocomm Limited, showcased a demo of the upcoming satellite-based internet service to none other than Prime Minister Narendra Modi himself.

The Digital Revolution Continues

Mukesh Ambani, India’s wealthiest individual, has been at the forefront of revolutionizing internet access in India through Reliance Jio. Over the years, Jio has introduced a range of products aimed at making fast and reliable internet accessible across the nation. To address the challenge of bringing JioFiber connectivity to remote and inaccessible areas, Mukesh Ambani’s latest announcement of Reliance Jio AirFiber is already making moves.

JioSpaceFiber: Bridging the Connectivity Divide

Now, the spotlight is on JioSpaceFiber, India’s first satellite-based giga-fiber service, poised to provide high-speed broadband access to areas that were previously beyond the digital reach. In a significant demonstration of the service’s capabilities, Akash Ambani introduced JioSpaceFiber to Prime Minister Narendra Modi at the India Mobile Congress.

“Jio has enabled millions of homes and businesses in India to experience broadband internet for the first time. With JioSpaceFiber, we expand our reach to cover the millions yet to be connected,” Akash Ambani, Chairman of Reliance Jio Infocomm Limited, stated. “JioSpaceFiber will allow everyone, everywhere, to fully participate in the new digital society with gigabit access to online government, education, health, and entertainment services,” he added.

Pioneering Satellite Technology

Jio has entered into a strategic partnership with SES, a global leader in satellite-based connectivity, to access cutting-edge medium earth orbit (MEO) satellite technology. This partnership will enable Jio to harness the unique capabilities of SES’s O3b and the new O3b mPOWER satellites, making it the sole provider of truly transformative Gigabit, fiber-like services from space.

Reliance Jio’s innovation promises to deliver scalable and affordable broadband connectivity throughout India, with a level of reliability and service flexibility that is unparalleled in the industry. With JioSpaceFiber, India is set to leapfrog into a new era of digital inclusion, and the world is eagerly watching as this transformative journey unfolds.

Connecting the Unconnected

Reliance Jio’s remarkable journey continues with JioSpaceFiber, addressing the digital divide and creating opportunities for millions to connect, learn, and thrive in a more connected India. As the country stands on the cusp of this groundbreaking technology, it’s evident that Mukesh Ambani’s vision for a digital India is becoming a reality.

0 comment
0 FacebookTwitterPinterestEmail

In a Great collaboration, Reliance Industries, led by billionaire Mukesh Ambani, and US technology giant NVIDIA have joined forces to establish advanced AI supercomputing infrastructure in India. This strategic partnership aims to develop a computing environment more powerful than any supercomputer currently operating in the country, significantly enhancing India’s AI capabilities.
The announcement follows a meeting between NVIDIA’s founder and CEO, Jensen Huang, and Prime Minister Narendra Modi, underscoring the significance of this venture.
NVIDIA, which initiated operations in India in 2004 and has four engineering development centers across the country, is set to contribute its cutting-edge technology, including the GH200 Grace Hopper Superchip and DGX Cloud, an AI supercomputing cloud service. The GH200 superchip represents a revolutionary leap in computing architecture, offering exceptional performance and massive memory bandwidth.
One of the primary objectives of this collaboration is to develop a large language model tailored to India’s diverse languages and designed for generative AI applications. This AI infrastructure will serve as the cornerstone for Reliance Jio Infocomm, Reliance Industries’ telecommunications arm, which aims to harness the power of AI to create applications and services for its 450 million Jio customers.
The applications of AI in India are far-reaching, from enabling rural farmers to access weather information and crop prices in their local languages to providing expert medical diagnoses through scalable AI solutions. Additionally, AI can play a pivotal role in predicting and managing cyclonic storms using decades of atmospheric data.
This AI infrastructure will be hosted in AI-ready computing data centers that will eventually expand to a capacity of 2,000 MW. Jio will manage the execution and implementation, drawing on its extensive experience in mobile telephony, SG spectrum, fiber networks, and more.
Jensen Huang, CEO of NVIDIA, expressed his enthusiasm for the partnership, stating, “India has scale, data, and talent. With the most advanced AI computing infrastructure, Reliance can build its own large language models that power generative AI applications made in India, for the people of India.”
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, emphasized the transformative potential of this venture, saying, “As India advances from a country of data proliferation to creating technology infrastructure for widespread and accelerated growth, computing and technology super centers like the one we envisage with NVIDIA will provide the catalytic growth just like Jio did to our nation’s digital march.”
Akash Ambani, Chairman of Reliance Jio Infocomm, added, “Together, we will develop a state-of-the-art AI infrastructure that is secure, sustainable, and deeply relevant across India, accelerating the nation’s journey towards becoming an AI powerhouse.”
This collaboration represents a significant milestone in India’s technological landscape, as it endeavors to harness the full potential of artificial intelligence to drive innovation, growth, and inclusivity across various sectors of the economy.

0 comment
0 FacebookTwitterPinterestEmail

Our News Portal

We provide accurate, balanced, and impartial coverage of national and international affairs, focusing on the activities and developments within the parliament and its surrounding political landscape. We aim to foster informed public discourse and promote transparency in governance through our news articles, features, and opinion pieces.

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Laest News

@2023 – All Right Reserved. Designed and Developed by The Parliament News

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
-
00:00
00:00
Update Required Flash plugin
-
00:00
00:00