Sharp decline in production from flagship Krishna-Godavari basin has changed the business mix for the company.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
Reliance Industries Ltd may tie-up with Chevron Corp of US to make joint bids for oil and gas blocks on offer in the latest round of New Exploration Licensing Policy.
ITC, which has a 14.98 per cent stake in EIH Ltd -- the company that runs the Oberoi chain of hotels -- is planning to subscribe to the upcoming EIH rights issue. This ends speculation that it might pull out after Reliance Industries Ltd picked up a stake in EIH.
The officials also said that the ministry of commerce and industry had recommended the Maharashtra government to take back the land acquisition notification that it had issued. The zone has been given in-principle approval by the BoA, as RIL is yet to acquire the requisite land.
For the first time after settling their family dispute, brothers Mukesh and Anil Ambani are again competing face-to-face, in a bid for the Rs 7,500-crore, 1,320-Mw thermal power project at Gulbarga in north Karnataka.
RIL will initially start gas production from eight wells, with an initial output likely to be 5 mmscmd (million standard cubic metres) per day. Bombay high court had last week allowed Reliance to sell gas from KG-D6 at $4.20 per million British thermal units in accordance with the government's gas utilisation policy, which gives priority to fertiliser units followed by existing power plants.
In a surprise move, Niira Radia, owner and promoter of Vaishnavi Group which has the mandate from Tata Group and Mukesh Ambani-led Reliance Industries Ltd, has announced her exit from the business of communication consultancy.
While several export-oriented Indian companies such as Cipla and Reliance Industries Ltd (RIL) are rejoicing at the prospects of the rupee falling further, others that are importing raw materials such as coal and oil might see a big hole in their bottom line.
For its m-cap to more than double, RIL needs government nod for nearly doubling of its gas price of $8 per million British thermal unit together with approvals for oil and gas field investments.
Leading industrialists met with Prime Minister Manmohan Singh (not in picture) in New Delhi on Thursday to discuss the general state of the Indian economy and other industry-related matters.
First right of refusal may be limited to firms working under NELP, leaving out pre-NELP blocks run by big firms such as RIL and Cairn India.
Reliance Industries Ltd will sell 4.3 million tonnes of petroleum products from its 33 million tonnes Jamnagar refinery in Gujarat to public sector oil retailing companies in 2004-05.
A high-profile team from MTN is also expected to meet Reliance Industries Ltd next week to take stock of the situation. RCom had informed the bourses on May 26 that it has entered into exclusive negotiations with MTN for 45 days soon after the South African giant aborted its talks with the Sunil Mittal-controlled Bharti group. The deadline will end on July 8.
Some documents not yet provided, spokesperson tells DNA Money. Murli Deora's Petromin says report submitted! ADAG once again asks for tabling of report, shows 'proof' govt appointed auditors of RIL expense sheet have conflict of interest.
From the Sensex pack, Power Grid, HDFC Bank, HDFC, Tech Mahindra, Tata Consultancy Services, Wipro, Reliance Industries and Larsen & Toubro were the major gainers. Mahindra & Mahindra, ITC, IndusInd Bank, Axis Bank, Bajaj Finance and Maruti were among the laggards.
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
'Economic benefits of RIL shares held by these four companies have always been for the benefit of RIL's shareholders, and remains so. This fact has been reiterated by RIL a number of times,' the company said.
A division bench of Justices J N patel and K K Tated was hearing a case regarding the dispute between Anil-led Relaince Natural Resources Ltd and Mukesh's Reliance Industries Ltd over the gas supply master agreement (GSMA) whereby RIL will be supplying gas for RNRL's power plants.
With RIL's KG-D6 output playing truant, steps need to be taken to stabilise the country's natural gas production.
Corporate giant Reliance Industries Ltd has stopped lobbying with US lawmakers for the last two quarters, while the Indian government incurred an expense of Rs 3.7 crore (Rs 37 million) for such activities during the last financial year ended March 31, 2012.
Anil Ambani on Monday lashed out at the proposed buyback of shares, ahead of the crucial board meeting, questioning the intentions of the move.
Family sources confirmed that over the weekend the 'Ambani family,' including mother Kokilaben and sisters Deepti Salgaoncar and Nina Kothari requested Mukesh to furnish appropriate details as per his statement on November 22.
Could it be about clout? Given its size and influence, RIL doesn't need the media for that, notes Vanita Kohli-Khandekhar.
Vendors say Infotel Broadband close to signing tower leasing deals with Anil Ambani company
State-run NTPC Ltd is likely to sign by month-end an agreement to buy natural gas allocated by the Centre from Mukesh Ambani-run Reliance Industries Ltd at government-approved rate of $4.20 per mmBtu, power secretary H S Brahma said on Wednesday.
Reliance Industries Chairman Mukesh Ambani said on Tuesday organised retailing will be the 'next big idea' in the companies' plans.
Institutional investors have hiked their holding in Reliance Industries Ltd to nearly 29 per cent - highest in about 7 years - as LIC and foreign funds stocked up shares worth Rs 1,000 crore in the last quarter.
GAMES-TOURISM Tourism industry asked to cash on C'Wealth Games New Delhi, Aug 19 (PTI) With over one lakh foreigners expected to throng the city during Commonwealth Games, tourism industry must gear up to reap the benefits, Tourism Minister Kumari Selja said today.
Anil Ambani, vice chairman and managing director of Reliance Industries Ltd, has been adjudged the most admired chief executive in India, while his elder brother Mukesh Ambani occupied the fifth slot.
Reliance had committed to drill 22 wells in the Dhirubhai-1 and 3 fields or D1, the largest of 18 gas discoveries in the block KG-DWN-98/3 or KG-D6 block in the Bay of Bengal, by April 2011 to produce 53.4 million standard cubic meters of gas per day (mscmd).
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
The IT major is followed by RIL (Rs 795,628.55 crore), HDFC Bank (Rs 624,362.11 crore), Hindustan Unilever (Rs 367,880.69 crore) and ITC (Rs 367,513.78 crore).
Nova's new owner has decided not to pursue this project.
