Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of $36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report. Reliance currently has three verticals -- oil-to-chemical (O2C) business that houses its oil refineries, petrochemical plants and fuel retailing business; digital services that comprises telecom arm Jio; and retail including e-commerce. New Energy will be the fourth vertical. At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
The government on Thursday rejected demand of private retailers, including Reliance Industries Ltd, for compensation equal to public sector oil firms to make up for the losses it suffered on petrol and diesel sales.
The Ambani brothers, Tata group, GVK Group, GMR Group and Larsen & Toubro are among the top players bidding for the greenfield Navi Mumbai airport, the second airport project in Mumbai.
In all, Reliance has a stake in 34 exploration blocks in the country.
The National Commodity and Derivatives Exchange Ltd plans to rope in oil companies like Indian Oil Corporation and Reliance Industries Ltd to boost Brent crude futures trading on the bourse.
Sources close to the development said RIL, which was planning two adjacent economic zones in the coastal district of Raigarh in Maharashtra, is looking to set up three special purpose vehicles (SPVs) to develop the various components of the project.
In January 2006, Reliance Industries Ltd had paid Rs 1.5 lakh a square metre for an international convention-and-exhibition centre covering 75,000 square metres in the same locality.
Mukesh Ambani, Chairman of Reliance Industries Ltd, has won this year's prestigious World Communication Award as the world's most influential person in telecommunications in 2004, said a company release.
TCS had replaced RIL as the most valued firm more than four years ago but a sharp rally in the shares of the Mukesh Ambani-led firm in the recent past has helped the company close the gap.
RIL accounted for over a quarter of the country's LPG production of around 8.5 million tonnes per annum (mtpa) last year. Around 2.5 mtpa LPG - the only petroleum product in which India is not self-sufficient - was imported last year to meet the domestic demand of 11 mtpa. RIL is planning to cut LPG production at Jamnagar from 2.3 mtpa to around 1.6 mtpa from mid-2008 following the grant of export-oriented-unit (EoU) status to the refinery.
Reliance Industries Ltd is in talks with Haryana Agricultural University for possible cooperation in research and manpower development.
Employing the best in business and emphasis on training Reliance petroleum's downstream business is stewarded by the very best in business.
Larsen and Toubro Ltd said on Monday it has bagged Rs 800-crore (Rs 8 billion) contract from Reliance Industries Ltd for construction services and supply of electrical systems for its SEZ refinery and petrochemical project in Jamnagar, Gujarat.
With Rs 67,550 cr, Reliance leads investors' pack to Vibrant Gujarat.
Mukesh Ambani-led Reliance Industries announces net profit of Rs 3,912 crore (Rs 39.12 billion) for the quarter ended March 31, 2008.
On April 29, the Bombay High Court will start hearing the case between the warring companies, Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL), to reach a quick decision on who will get access to the huge volumes of gas to be produced from RIL's block in the Krishna-Godavari basin. The court will also decide if the central government will be admitted as a party to the case. RNRL would oppose the central government's move to become a party to the case.
Reliance Industries Ltd chairman and managing director Mukesh Ambani met Prime Minister Manmohan Singh
NITIE, Mumbai, invites students and working professionals for Samiksh, a panel discussion on VAT: Implications On India Inc.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 22.5 per cent rise in net profit for the quarter ended March on the back of bumper oil refining margins, steady growth in telecom and digital services and strong momentum in the retail business. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 16,203 crore in the quarter ended March 31, 2022 from Rs 13,227 crore, the firm said in a statement. Net profit, however, fell 12.6 per cent sequentially -- breaking a six-quarter chain of quarter-on-quarter improvement.
Mukesh Ambani's Reliance Industries Ltd is preparing to apply for permission to set up a nation-wide broadband telecom network for internal (non-commercial) use.
The government is likely to clear the price quoted by Reliance Industries Ltd for its gas from the Krishna-Godavari basin without seeking to control the price.
The price surge at Jhajjar has more to do with skyrocketing land prices near the SEZ site plus a recent rumour that the Haryana government may increase the minimum price for land acquisition to more than Rs 55 lakh (Rs 5.5 million) per acre.
A company executive, who did not want to be identified, said the combined debt of RIL and its subsidiary, Reliance Petroleum, which is being merged with it, would be brought down to around Rs 57,000 crore this year from Rs 72,000 crore at present.
Reliance Industries Ltd, which rolled out its first retail store Reliance Fresh on Friday, may start futures trading to mitigate the price risk but the move depends on achieving sufficient volumes after expansion of the retail format.\n
Reader Ananth Kamal sent us this photograph from New Jersey, USA.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
The government on Thursday allowed free inter-state wheeling of renewable energy used in the production of green hydrogen and ammonia as it seeks to boost usage of the carbon-free fuel and make India an export hub. Unveiling the first part of the much-awaited National Hydrogen Policy, Power and New and Renewable Energy Minister Raj Kumar Singh said the government is targeting production of 5 million tonnes of green hydrogen by 2030. Oil refineries to steel plants require hydrogen to produce finished products.
Reliance Industries Ltd (RIL) has once again shut down crude oil production at its predominantly gas-rich KG-D6 block to hook up more wells that will raise the output to a peak of 40,000 barrels per day.
Oil regulator DGH has recommended stiff penalties on state-owned Oil and Natural Gas Corp and Reliance Industries Ltd for default on commitments made by them on oil and gas exploration blocks awarded under NELP.
Reliance Industries Ltd has won government approval for laying six petroleum product pipelines across the country to sell output from its 33 million tonnes per annum Jamnagar refinery in Gujarat.
The developers of special economic zones may not get tax benefits for the money spent on meeting the contiguity norms.
RIL has raised the marketing margin to $0.15 per million British thermal unit from $0.12 per mmBtu earlier, a source said. The rate, which would be charged over the $4.20 per million British thermal unit base gas price, is however lower than the $0.18 per mmBtu margin charged by state-run GAIL. The increase, he said, was due to the additional risk of 'ship-or-pay,' an obligation under which the company would be obliged to transport the committed volumes or pay for the gas.
IOC-OIL have decided to hold 25% stake in RIL's East Timor oil and gas block.
