In a curious move, Reliance Industries' (RIL) executive director and Mukesh Ambani's trusted aide PMS Prasad pledged 600,000 shares of the company last month, which is 93.75 per cent of the total shares he owns in RIL. Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
It's a dessert, a mid meal and a main meal, insists nutritionist Rujuta Diwekar.
The central bank will appear vacuous if it holds fire next week following its ultra hawkish guidance at the last monetary policy review.
Right from his arrest in May 2014, the Nagpur jail authorities have denied Professor Saibaba his basic rights, even flouting court orders in the process.
For the first time in the country, Tata BP Solar India Ltd, a joint venture of Tata Power and BP Solar, has installed and commissioned a megawatt-scale solar power plant under the rooftop and other small solar power generation plant scheme as part of Jawaharlal Nehru National Solar Mission (JNNSM).
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
India's third biggest state-owned refiner Bharat Petroleum may invest in oil and gas blocks in South East Asia as it expands it production assets, especially in the view of soaring demand for fuel.
The way the government treated miner Vedanta Resources' proposal to buy majority of UK's Cairn Energy in Cairn India and RIL selling 30 per cent of its stake in 23 properties, including the prolific KG-D6 gas block to BP, goes to the heart of the mistrust between India Inc and United Progressive Alliance-2 in 2011.
After agreeing to sell 30 per cent stake in the 23 blocks in India to BP, Mukesh Ambani is reportedly looking for buyers for its gas transportation and marketing company.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
'It's our duty to arrange food and other things for them. Some of them have diabetes and BP, that's why we arranged everything here'
The ministry of petroleum and natural gas has granted seven authorisations to companies for selling automobile (auto) fuels in the country. These new approvals are under the relaxed guidelines for authorisation to market transportation fuels that were revised in 2019. This is expected to make the competition more intense in India's petroleum retail business. According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms. This is being done since RIL's existing retail marketing authorisation has been transferred to its subsidiary Reliance BP Mobility
Bankrupt Infrastructure Leasing & Financial Services (IL&FS) has sold the entire stake in the waste management arm IL&FS Environmental Infrastructure & Services (IEISL) and its subsidiaries to EverEnviro Resource Management (EverEnviro), an arm of the PE major Everstone Group, the companies said in separate statements. Though the value of the deal was not specifically disclosed, the crippled IL&FS -- which is under bankruptcy proceedings in NCLT -- said the sale will reduce its overall debt by Rs 1,200 crore, which is the combined debt of entities under the group's environment businesses. IL&FS Environmental Infrastructure & Services (IEISL) is one of the leading integrated waste management companies that is into municipal solid waste management apart from presence across various segments including construction and demolition, collection and transportation and waste to energy and currently manages over 8,400 tonnes per day solid municipal waste.
The KG-D6 fields, which began production in April 2009, hit a peak output of 69.43 mmscmd in March 2010 before water and sand ingress led to more than a third of the wells shutting down.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
Ambani played the role of a quintessential and successful Indian businessmen - confident, yet very meek.
BP will pay $7.2 billion for 30 per cent stake in exploration blocks.
Dietician Komal Jethmalani provides the right answer.
Restructured debt from Indian power distributors lures investors
India is in favourable position to attract foreign firms planning to relocate their manufacturing bases due to trade tension between the US and China, says Nomura.
Asked about the reason behind the appointments, Sinha said they will help meet the goal to develop NMML into a centre of research as envisioned by the present government.
State-run gas firm Gas Authority of India Ltd has joined hands with Tata Power Co Ltd and British Petroleum to bid as a group for bankrupt US energy firm Enron Corp's Dabhol power plant and LNG import terminal in Maharashtra.
The world's biggest filmmaker has offered his fleet of private submarines to BP (formerly British Petroleum), to assist the company in stopping the massive oil flow threatening the Gulf of Mexico, caused by its leaking oil rig, the Deepwater Horizon.
Sodium is the most important parameter that people with hypertension should monitor.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
A fall in crude oil price and Aramco's $75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd's oil-to-chemical unit (O2C), research firm Jefferies said. Richest Indian Mukesh Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company.
Strategic direction post-COVID-19 and further details on asset monetisation are key expectations from the 43rd AGM of RIL, analysts said.
British scientists have identified the master gene, called E4bp4, that causes blood stem cells to turn into disease-fighting 'natural killer' (NK) immune cells.
The government on Thursday decided to join the arbitration initiated by Reliance Industries and its partners over delay in revision of natural gas prices, and named former Supreme Court judge G S Singhvi as its arbitrator.
The CBI has alleged that Justice Shukla received illegal gratification from Justice (Retd) Quddusi and B P Yadav, chairman of Prasad Education Trust which runs a medical college in Lucknow, for getting a favourable order to prevent delisting from counselling sessions for admitting students in 2017.
Moody's said together, proceeds from these transactions will result in a $ 16 billion reduction in RIL's net debt.
Indian Oil Corporation and ONGC Videsh Ltd have tied up with BP and Occidental, the global oil majors, to bid for oilfields in Kuwait.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
Gas price hike seems to be a distant dream for Reliance Industries and its partners--Niko Resources and BP.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The committee will also be suggesting measures for making the code acceptable to all the stakeholders so that a balance is struck between autonomy of National Sports Federations.
Dietician Komal Jethmalani provides expert help.
Do Uddhav Thackeray, Aditya Thackeray, Sanjay Raut, and Sharad Pawar want the deaths of the Bhima Koregaon accused to be associated with their regime? asks Jyoti Punwani.
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