BloombergIt has been a good year for Asia’s richest man, Mukesh Ambani. Investors are piling money on Reliance, betting that newer businesses such as telecommunications and retail could soon unlock value. While the success of the phone operator was cause for cheer, the business mogul’s plans to pare Reliance’s debt have sent the company’s stock soaring to a record. Ambani has vowed to slash the group’s net debt to zero by early 2021. Reliance Industries had a net debt of 1.54 trillion rupees (US$21.6 billion) at the end of March 31, Ambani told shareholders in August.
