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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Over 6.5 million investors may well have lost all they bet on Anil Ambani’s group companies.
Editor's note: It may well be seen as a last-ditch attempt to save his business. In June, soon after the government began easing the nationwide restrictions imposed in late March to control the spread of the pandemic, Anil Ambani began turning up for work at his office near Mumbai airport. Clocking in at 10 am every day, he stays on till 7 pm. Six days a week. Often, he is the lone senior executive in office, as even his CEOs stay away. But if you were to ask what is keeping the younger brother of India’s richest man, Mukesh Ambani, so busy, it wouldn’t be entirely amiss. In recent times, Anil has claimed that his net worth is zero and that he owes money to his mother and son, from whom he borrowed funds to meet living expenses. Late last month, Anil told a London court hearing that contrary to speculation, he did not own a fleet of cars, corporate jets, a helicopter and a yacht, and used only a solitary car. Replying to charges that he was bent on not paying …
Over 6.5 million investors may well have lost all they bet on Anil Ambani’s group companies.
Editor's note: It may well be seen as a last-ditch attempt to save his business. In June, soon after the government began easing the nationwide restrictions imposed in late March to control the spread of the pandemic, Anil Ambani began turning up for work at his office near Mumbai airport. Clocking in at 10 am every day, he stays on till 7 pm. Six days a week. Often, he is the lone senior executive in office, as even his CEOs stay away. But if you were to ask what is keeping the younger brother of India’s richest man, Mukesh Ambani, so busy, it wouldn’t be entirely amiss. In recent times, Anil has claimed that his net worth is zero and that he owes money to his mother and son, from whom he borrowed funds to meet living expenses. Late last month, Anil told a London court hearing that contrary to speculation, he did not own a fleet of cars, corporate jets, a helicopter and a yacht, and used only a solitary car. Replying to charges that he was bent on not paying …
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
