Is Reliance Debt Free Now?

What is net debt free company?

So, when a business says it is net debt-free, that does not mean it has repaid all its borrowings.

The debt is very much there until it is actually paid off.

To be sure, a business can be net-debt free even without paying off debt; all it needs to do is to keep cash equal to debt..

How much is Reliance Jio debt?

Reliance Jio reported a total debt of nearly 1,450 billion Indian rupees in fiscal year 2019. This was forecast to reach more than 1,700 billion rupees by the end of fiscal year 2021. Reliance Jio, owned by India’s richest person, Mukesh Ambani, was a wholly owned subsidiary of Reliance Industries.

Is Jio debt free?

RIL raised more than Rs 168,818 crore in just 58 days through Rs 115,693.95 crore collected from investors in Jio and another Rs 53,124.20 crore from a rights issue. … With these investments, RIL has become net debt-free.”

Why is Infosys not in debt?

Infosys is a debt-free company. It doesn’t have any outstanding debt or fixed deposits. The company presently generates sufficient cash internally to finance all its operational, financing and investment requirements.

Which is the safest share to buy?

If you want a completely safe investment with essentially no chance that you’ll lose money, Treasury securities or CDs may be your best bet….Seven safe stocks to considerBerkshire Hathaway. … The Walt Disney Company. … Vanguard High-Dividend Yield ETF. … Procter & Gamble. … Vanguard Real Estate Index Fund. … Starbucks. … Apple.

Is TCS debt free?

Tata Consultancy Services (TCS) is the largest and the most valuable debt-free company followed by Hindustan Unilever, ITC and Infosys and Maruti Suzuki. … Besides, most of the Indian subsidiaries of global multinationals, including those in sectors such as capital goods, are debt-free.

Is Jio really profitable?

The telco, led by Mukesh Ambani, on Friday said profit for the quarter rose to Rs 1,350 crore compared with Rs 831 crore a year ago. The market had estimated profit to be more than Rs 1,300 crore. Profit was up 36.4 per cent from the preceding quarter. It is the company’s ninth profitable quarter in a row.

Is Jio running in loss?

Kolkata: Reliance Jio Infocomm is staring at a potential loss of Rs 15,000 crore ($2.1 billion) in FY19, which isn’t immediately visible because the Mukesh Ambani-led telco uses non-standard depreciation metrics and relies on another group company to bear handset subsidies, brokerage Sanford C Bernstein said.

Which bank does Ambani use?

The private sector Axis Bank has corned the bulk of Reliance’s offering by investing Rs 2,000 crore followed by country’s largest bank, the State Bank of India (SBI), with Rs 1,500 crore.

Why is Reliance going debt free?

The cumulative investment resulting from 11 deals struck by Reliance Industries for its digital unit, Jio Platforms, over the past nine weeks amounts to Rs 115,693.95 crore. Jio investments, it helped RIL become net debt-free.

Is ITC a zero debt company?

Company is almost debt free. Stock is providing a good dividend yield of 5.84%.

How much debt does Reliance have?

Reliance Industries Ltd (RIL) has announced that it has become net-debt free. In March 2020, the company had reported a net debt of ₹1.61 trillion ($21 billion). Since then, it has raised $15.2 billion by selling stakes in Jio Platforms Ltd. Its $7 billion rights issue was oversubscribed 1.6 times.

How much money did Mukesh Ambani have?

Ambani’s net worth of $60.4 billion has catapulted him into ninth position in the rankings of the world’s wealthiest people.

Which company is debt free?

debt free companiesS.No.NameNP Qtr Rs.Cr.1.Castrol India204.602.Indian Energy Ex46.703.VST Industries88.544.Balaxi Ventures4.2622 more rows

Is Accounts Payable a debt?

Accounts payable are debts that must be paid off within a given period to avoid default. At the corporate level, AP refers to short-term debt payments due to suppliers. The payable is essentially a short-term IOU from one business to another business or entity.

Is Jio earning profit?

Profit rose to Rs 2,520 crore in the quarter from Rs 891 crore a year earlier and Rs 2,331 crore in the preceding quarter, Jio said in a statement on Thursday. Analysts expected earnings of about Rs 2,600 crore. … Jio Platforms has “already received Rs 1,15,694 crore as subscription amount from 10 investors.

Is Ambani Jain?

According to one news report, a good chunk of the company’s shareholders are also strict vegetarians like Ambani and belong to the Gujarati community (as Ambani does himself) or are Jains. A spokesperson of the company confirmed to Forbes that the move was being mulled within the group for a few months now.

Who is richer Ambani or Tata?

However, Mukesh Ambani is richer than Ratan Tata. … In fact, more than 66% of the company stake is held by the charitable organisations such as the Sir Dorabji Tata Trust, Sir Ratan Tata Trust, Tata Education Trust and others.