Mukesh Ambani faces big test in race to protect his cash engine

With Russian crude turning into a liability, RIL needs to rebalance its oil basket. Can its chairman pull this off without seriously impacting the lucrative oil-to-chemicals business and limiting future investment firepower?

25 August, 202511 min
1
Mukesh Ambani faces big test in race to protect his cash engine

You may also like

Business
Story image

Reliance’s growth engines may be losing steam

Telecom and retail, which account for half the conglomerate’s revenue and most of its valuation, aren’t accelerating fast enough to justify their price tags.

Business
Story image

Reliance’s battery plans run into a China wall

Mukesh Ambani’s $10-billion bet faces a harsh reality: much of the clean-energy stack still sits overwhelmingly in Chinese hands.

Business
Story image

Growth alone isn’t enough, Waaree needs to do more

The solar module maker’s investors want proof of its durability in the face of a leadership change and a costly push into energy storage.