The transaction will lead to an open offer for minority holders.
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
The numbers hidden behind the results tell a story of zero-return businesses and lower prospects for the core units
Sharp improvement in refining margin is expected to be the prime driving force.
The company's investments in telecom business reached 15-20% of capital employed.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Gains were led by index heavyweights Reliance Industries and Infosys.
The S&P BSE Sensex closed 318 points at 24,455 and the Nifty50 shed 99 points to end at 7,438.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
Market cap touches Rs 5 lakh crore; earnings growth to spurt in FY19
RIL's standalone net profit rose one per cent quarter-on-quarter
Strong refining and petrochemical margins seen boosting consolidated net by up to 6%
Reliance beat analyst expectations on almost all parameters
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
Refining major optimistic on planned investment of $16 bn for expansion and new technology to post healthy margins
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
There, however, has been an improvement in operating margins.
Inflation is down, growth is headed for recovery. RIL and subsidiary Jio are on an upswing. However, stressed loans and impending job losses are the dark clouds, says Devangshu Datta.
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
Analysts say the Essar Group has been following a policy of delisting just when its businesses begin to record substantial upside, denying shareholders their share of decent returns.
RBI must balance the need for improving domestic bank credit demand and respond to lower inflation.
The upbeat earnings from Reliance Industries will set the tone for the truncated week ahead
The sharp fall in oil price is positive for oil marketers as subsidy concerns reduce further.
Sensex in green, JSW climbs higher.
While lower gas output led to earnings cuts, price rises with regular ramp-ups in output will lead to earnings upgrades
In the December quarter, Sensex earnings had contracted 5 per cent.
IT and pharma companies again save the day; mask pain in domestic consumption.
A majority of India's billionaires gained wealth in the last one year in spite of the stock market decline.
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