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IFCI stake sale draws overseas suitors India's oldest financial institution, Industrial Finance Corporation of India Ltd.'s (IFCI) announcement of its interest in divesting at least 26 percent of its stake to strategic investors through fresh issue of shares has elicited positive response from overseas investors, including the New York-based investment and technology development firm, the DE Shaw Group. 17 Sep 2007
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Mukesh Ambani is highest paid executive in India Mukesh Ambani, chairman and managing director of Reliance Industries, the most valuable company to be listed in the stock market, according to market capitalization, is reportedly the highest paid executive in India. 11 Sep 2007
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Reliance acquires African fuel retailer Reliance Industries (RIL), India's most valuable company in terms of market capitalization, has acquired a majority stake in Mauritius-headquartered Gulf Africa Petroleum Corporation (GAPCO), a petroleum distribution company with a significant presence in East Africa in the petroleum downstream sector, becoming the first Indian company to buy petroleum retail assets outside India. 06 Sep 2007
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U-Turn in Uttar Pradesh: Farmers support Reliance Hundreds of farmers gathered on Tuesday by an agricultural collection depot run by a top national retailer to call for Uttar Pradesh to reopen Western-style supermarkets closed last week. 28 Aug 2007
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Reliance halts retail foray in north and northeastern India In the wake of violent protests in India's most populous state, Uttar Pradesh, that led the state government to order the closure of standalone retail stores selling fresh farm produce, Reliance Retail, a wholly owned subsidiary of India's largest private sector entity in terms of market capitalization and oil refiner Reliance Industries, has announced a hold in its $500 million plan to open groceries in West Bengal, Uttar Pradesh and some northeastern states. 28 Aug 2007
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Reliance opens first hypermart in Ahmedabad, to set up 500 by 2010 Mukesh Ambani-promoted Reliance Retail has launched its first hypermarket – RelianceMart - in Ahmedabad that will sell farm produce to general merchandise at budget friendly prices even as the company mulls setting up 500 such superstores across India by 2010. 16 Aug 2007
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Reliance to invest $10 billion in Egypt India's most valuable company in terms of market capitalization, the Reliance Industries Limited (RIL) has agreed to invest $10 billion in Egypt's oil refining, petrochemicals and plastic industries, according to the Egyptian Government officials. 13 Aug 2007
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Reliance Industries to invest $14 billion in oil business India's most valuable company in terms of market capitalization, Reliance Industries Ltd. (RIL) has announced that it plans to invest up to $14 billion in its oil exploration and production business and laying transportation pipelines. 06 Aug 2007
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Reliance Industries Q1 beats forecasts, net profit up by 28 percent India's most valuable company in terms of market capitalization, Mukesh Ambani's Reliance Industries Limited (RIL) has beat forecasts, announcing a 28.2 percent rise in its net profit in the first quarter, buoyed by high hydrocarbon prices and strong demand from end-users. 31 Jul 2007
