During a conversation with Mukesh Ambani in Mumbai, Huang said, “This is an excellent opportunity for India to have a large population and a large population of computer engineers. This is such an extraordinary time. I am honoured and privileged to get to partner with you for this.”
Last week, the combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore. Reliance Industries, TCS and HUL emerged as the biggest gainers.
Reliance Industries and Life Insurance Corporation of India gas emerged as the biggest laggards in line with weak trend in equities.
Reliance is followed by State Bank of India, HDFC Bank, ICICI Bank, and Bharti Airtel followed in the top-5 list.
According to the company’s filing, over 98 per cent votes were in favour of Isha and Akash’s appointment, while Anant faced most resistance with 7.24 per cent votes polled against him.
This is the second investment announced in half an hour by Reliance Retail Ventures around midnight, the earlier one being by GIC of Singapore.
GIC will be the fifth investor in Reliance Retail Ventures Ltd (RRVL), a subsidiary of Reliance Industries.
This figure excludes the $10.2 billion in strategic investments by Silicon Valley tech giants Google and Facebook.
Morgan Stanley acted as financial advisor to Reliance Retail and Cyril Amarchand Mangaldas and Davis Polk & Wardwell acted as legal counsels.
Reliance Retail Ltd, a Subsidary of RRVL, operates about 12,000 stores in nearly 7,000 towns, with 640 million footfalls.
