Facebook Overseas will hold a 30% stake in Reliance Enterprise Intelligence Ltd, Reliance Industries’ new AI venture. The joint venture, aimed at developing and marketing enterprise AI services, will see an initial investment of Rs 855 crore by both partners.
Reliance Jio chairman Akash Ambani introduces "Riya" — a feature similar to Alexa or Siri; will allow hands-free access to calls, music, etc, in multiple Indian languages
The Mukesh Ambani-run firm was the first to apply for a patent on May 7 and was followed by three more — a Mumbai resident, a retired Indian Air Force officer and a Delhi-based lawyer
The company is also limiting the presence of its physical stores, slashing marketing budgets and merging Reliance Brands Ltd, with its umbrella retail entity, according to report
The 30-share Sensex jumped 179.16 points or 0.30 per cent to 59,834.22 points, while the broader 50-share Nifty rose 46.75 points or 0.27 per cent to 17,670.80 points.
The 30-share BSE index was trading 22.82 points or 0.04 per cent higher at 52,758.41 in initial deals. Similarly, the broader NSE Nifty inched 7.45 points or 0.05 per cent up to 15,822.15.
The 30-share BSE index was trading 6.73 points or 0.01 per cent higher at 50,200.06, and the broader NSE Nifty advanced 1.50 points or 0.01 per cent to 15,109.60.
It also observed that Mukesh Ambani being the Chairman & Managing Director of RIL, was responsible for its day-to-day affairs and thereby, liable for the "manipulative trading" done by RIL.
