Shares of Reliance Natural Resources Ltd on Friday surged over nine per cent on the Bombay Stock Exchange after the Bombay High Court issued an interim order restraining Reliance Industries from selling natural gas from KG gas field to a third party.
The meet will provide J&K an opportunity to showcase its strengths, strategies and potential. It will also help allay fears and apprehensions in the minds of trade and business community outside the state.
The revised GSMA was signed pursuant to the Supreme Court's May 7 judgement, turning down RNRL's demand for cheap gas from RIL based on a family agreement.
The Enforcement Directorate, which is investigating possible violations of the Foreign Exchange Management Act by some former UBS employees, has written to the UK's Financial Services Authority, seeking details of the alleged misuse of accounts of Anil Dhirubhai Ambani Group-controlled Reliance Energy and Reliance Natural Resources.
The Centre on Thursday admitted before the Supreme Court that something went wrong with the coal blocks allocation and that it could have been done in a more refined manner.
In the short run, ONGC and OIL should both reap a bonanza given the government hike.
However, no formal confirmation of the meeting and the issues discussed could be obtained from either group.
Billionaire Anil Ambani on Wednesday called on Prime Minister Manmohan Singh at 7 Race Course Road for close to an hour but refused comments on the purpose of his meeting. The meeting comes within days of the Supreme Court rejecting his group firm Reliance Natural Resources Ltd's plea for cheap gas from Reliance Industries as had been decided in a private family agreement of 2005.
The Supreme Court, on Friday, will pronounce its verdict on the nation's most talked corporate battle over gas supply, outcome of which will shape the future of flagship energy firms run by brothers Mukesh and Anil Ambani.
In the face of scramble for acquiring assets in natural resources like oil, coal and mines by large multi-nationals, the government is working on a policy enabling PSUs to step up search for key raw material assets, Prime Minister Manmohan Singh said.
An analysis of buy and sell transactions by mutual funds during May shows that the fund houses purchased stocks from sectors like power, software, housing finance and sugar, while offloading shares from banking, refineries and airlines. According to brokerage firm Sharekhan, state-run NTPC, ONGC, TCS, Essar Oil and Reliance Petroleum figure among the favourite picks by the equity funds in the month of May.
The government on Saturday filed a petition before the Supreme Court seeking a direction to declare as 'null and void' the private family agreement of the Ambanis that provides for gas supply by Reliance Industries Limited to Reliance Natural Resources Limited. The government petition has named as respondents RIL led by Mukesh Ambani and RNRL headed by Anil Ambani, which have separately filed cross-petitions against the Bombay High Court's June 15 judgment.
The economic exploitation of children is an insult to humanity, says the World Bank.
US Vice President Kamala Harris would host a separate meeting with the prime ministers of three Quad countries -- India, Australia and Japan -- at the White House to discuss with them the important factors for democracies to go forward, officials said.
'We seem to be in a situation where we can do little, and nothing needs to be done anyway.'
Reliance Natural Resources Ltd chairman Anil Ambani is understood to have sought a review of the government's decision, rejecting the sale of natural gas by RIL to it.
The total electricity production in the world in 2008 stood at 19,950,3917,395,212 kWh, while the total power consumption was 17,109,665,000 gigawatt hours.
The Union Government on Thursday said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. "Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi district of Jammu and Kashmir," the ministry of mines said on Thursday.
Unocal Corporation of the United States has shelved its ambitious plans to export Bangladesh gas to India as Dhaka continued to drag its feet on taking a call on selling natural gas to New Delhi through a $1.2 billion pipeline.
The projected output will come from satellite fields in the eastern offshore KG-D6 block as well as North East Coast block NEC-25, off the West Bengal coast.
The apex court had sought the response after Anil Ambani-led RNRL had consented to government being made a party in the dispute. RNRL contended that it was entitled to receive the gas at $2.34 per unit from Mukesh Ambani group RIL which had entered into an arrangement for supplying gas to NTPC at that rate.
'ESG is actually a concept which cannot be applied effectively in the very short run.'
For China, recession was like an oppurtunity that comes after hundreds of years, and with its piggy bank overflowing money the country went on a wild shopping spree...
Ready to share their natural resources, African countries on Tuesday sought greater Indian investments, particularly from the private sector, to boost economic growth in the continent.
After sleeping over in the assembly for nearly a week, members of the Karnataka legislative assembly are ready for more drama -- it is time for Yatra politics in the state. The first of the yatras (processions on foot) will commence on July 25 led by the opposition Congress.
Pakistan pitched for India importing natural gas from Iran through a pipeline passing through its territory saying it will do everything possible to ensure safe delivery of gas from the onland pipeline
Claiming that over three crore tons of iron ore worth over Rs 12,000 crore was illegally shifted out of the country since 2003, Karnataka Chief Minister B S Yeddyurappa said on Monday that he will quit if he failed to put an end to plundering of the natural resources in the state.
Resuming arguments over its dispute with Anil Ambani Group firm Reliance Natural Resources Ltd, senior counsel Harish Salve said it was RNRL which had in 2007 argued that marketing freedom cannot be allowed to the Mukesh Ambani-run firm and asked the government to frame Gas Utilisation Policy.
During hearing of the dispute over supply of gas by RIL to RNRL at $2.34 per mmBtu, the bench headed by chief justice K G Balakrishnan said the two parties could arrive at a 'suitable arrangement' through arbitration, as the Bombay high court that approved the Reliance empire's demerger cannot spell what is the ideal arrangement.
RIL signed agreement to take 45 per cent interest in highly prospective Eagle Ford Shale play, the Mumbai-based firm and Pioneer said in separate but almost identical statements.
An atmospheric scientist, Ramanathan focuses his research on global climate dynamics, the greenhouse effect, aerosols, clouds, and the earth radiation budget.
This time Modi has no emotive message to take to the stump. Muscular nationalism doesn't work against the backdrop of China's successive inroads into Indian territory. Rising prices is a sore point that cuts across class and caste barriers; unprecedented levels of unemployment has the youth in a ferment. This has reduced the BJP campaign to a laundry list of recycled grievances and thinly veiled communal appeals, neither of which are working as well as they have in the past, argues Prem Panicker.
Sources familiar with the developments said the government will file an application in the Bombay High Court by the end of December or early January. RIL on its part has already appealed against the order.
RIL declined to comment on this or related allegations, saying the entire issue was in court.
Within 24 hours of the brothers Ambani deciding on a ceasefire, the stock market and Reliance pundits are out with their calculators to figure out the financial implication of ending the non-compete terms five years in advance and the loss that Anil Ambani's Reliance Natural Resources Limited would incur post the Supreme Court verdict.
The Rajya Sabha is all set to go digital to minimise the massive wastage of paper in the House, thanks to an initiative by Vice President and Chairman Hamid Ansari.As per the suggested changes, Parliamentarians will receive documents in hard copy only if they request for it and special incentives will be provided to MPs who opt for the digital format.Ansari, a retired Indian Foreign Service officer, wants Parliament to set an example.
A short-term (five-year) price is not relevant beyond a point when power plants have a life of 15-20 years, says J P Chalasani, CEO, Reliance Power.
There is nothing much for Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate with Reliance Industries Ltd, as the price and quantity of gas it is seeking will be dictated by the government policy and the tenure of supply will depend on life of the fields.
RNRL is seeking 28 million cubic meter of gas a day or more than one-third of peak output from RIL's eastern offshore KG-D6 fields at a price set in a 2005 family agreement.
A friend of Mukesh Ambani should not be petroleum minister
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