Top 3 business stories on Sept 22: Forbes list ranks Mukesh Ambani as the richest Indian and more

22 September 2016, 05:02 PM
Mukesh Ambani
Mukesh Ambani

1. Forbes list ranks Mukesh Ambani as richest Indian, Patanjali's Balkrishna in top 50 with $2.5 bn

Forbes’s much awaited annual list of India’s 100 richest tycoons is out. Reliance Industries Ltd (RIL) chairman Mukesh Ambani has once again bagged the pole position with a net worth of $22.7 billion.

Dilip Shanghvi retained his Number 2 spot with a net worth of $16.9 billion. His wealth had gone down by $1.1 billion following a drop in the shares of his Sun Pharmaceutical Industries, the world’s fifth-largest generics maker.

Also Read: Mukesh Ambani is richest Indian, Patanjali's Balkrishna in top 50 with $2.5 bn

2. Blackstone to fuel BPO major Intelenet Global Services's revenue drive

Intelenet Global Services backed by Blackstone is looking to increase its revenue by $200 million over the next four years by mining the private equity giant's portfolio companies. 

As per reports in major financial dailies, the BPO giant has set its eyes on a $1 billion revenue target by 2020. The world's largest PE firm bought Intelenet from Serco Group for $383 million.

Also Read: Blackstone to fuel BPO major Intelenet Global Services's revenue drive

3. Indian stock markets surge post US Fed Reserve keeping interest rates low

After days of trading flat and recording marginal gains, the BSE Sensex ended with a gain of 266 points at 28,773. The BSE Sensex opened at 28,767 touched an intra-day high of 28,872 and low of 28,693.

The NSE Nifty closed with a gain of 90 points at 8,867. The NSE Nifty opened at 8,873 hitting a high of 8,893 and low of 8,837.

The equity markets surged after the US Federal Reserve kept interest rates at a near-record low in its latest policy meeting.

Also Read: Indian stock markets surge post US Fed Reserve keeping interest rates low

First Published: Thursday, September 22, 2016 04:47 PM

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