"We will be guided by our national interest," he said.
Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase to Rs 11,571 crore
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.
Consolidated revenue rose to a record Rs 163,854 crore.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
The Indian Petrochemicals Corporation Ltd, a Reliance company, has announced a one-time voluntary retirement scheme for its workers.
Gas production at KG-D6 field dropped by a steep 53 per cent.
Reliance Industries Ltd will give Rs 750 crore (Rs 7.5 billion) discount on LPG and kerosene to public sector petro retailers in 2005-06.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Diesel makes up nearly half of fuel demand in Asia's No 3 economy.
The Petroleum Ministry in an order on Wednesday said it has revised guidelines for allocation/supply of domestic natural gas to city gas distribution entities for CNG and piped cooking gas sector.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Attracted by the boom in the automobile sector, Reliance Industries Ltd (RIL) has formed a joint venture with Russia's biggest petrochemical company, SIBUR, to jointly invest $450 million (Rs 2.040 crore) to set up a 100,000-tonne butyl rubber factory, said a company release. RIL will have majority stake.
Reliance Industries Ltd (RIL), the operator of the KG-D6 gas block, has told the government it cannot comply with its latest directive on prioritising gas supply.
Nova's new owner has decided not to pursue this project.
An HPCL-led consortium had put the project on hold in 2009.
LyondellBasell had rejected a $14.5-billion takeover offer from RIL in March.
Mukesh Ambani-owned RIL's JioMart is set to launch a slew of new products including financial services, electronics to airline tickets to take on the competition from upcoming rivals like the Tata Super app and other established players including PayTM, Amazon and Flipkart. This comes at a time when RIL's e-commerce revenues are set to grow by 35 per cent to $15 billion within four years and its core retail revenue is expected to grow at the same pace to $44 billion, as per a forecast by Goldman Sachs. "The Tata vs JioMart war will be the next big corporate battle to watch. "While Tata has an upper hand like in-house products and brands, RIL has the backing of global biggies like Google, Facebook and Microsoft," said head of a rating firm asking not to be quoted.
Reliance reported record pre-tax profit from its retail and telecom businesses. The two now account for nearly 32 per cent of EBITDA, up from close to 25 per cent previously.
Thanks to a $5.7 billion deal with Facebook, a Rs 53,125 crore rights issue and more stake sale to companies such as Saudi Aramco, the target is likely to be achieved by December.
CRISIL upgrades ratings for IPCL debt plan.
Unitech had 40 per cent stake in NKID, which has been acquired by the Salim group and Universal Success. Sources said NKID was now a 50:50 partnership between these two; earlier, Salim had a 40 per cent stake and Universal had 20 per cent. Asked why Unitech quit NKID, the former's managing director, Ajay Chandra, said, "I have no comments on this."
Reliance Industries Ltd (RIL), in its efforts to gain control over LyondellBasell, is looking to team up with the unsecured creditors and bond holders of the bankrupt Dutch petrochemicals giant.
The RIL-owned Indian Petrochemicals Corporation Ltd has shed its workforce by about 12 per cent as it gave voluntary retirement to 1,550 employees, which would cost the company Rs 120 crore (Rs 1.20 billion) during the current fiscal.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
bp had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel stations owned by RIL for $1 billion.
The two companies have approached banks to raise up to Rs 8,000 crore as debt to fund their expansion plans.
State-owned ONGC is talking to world's leading chemical firms, including Itochu Corp of Japan and the two UK-based companies -- Ineos and Lyondell Basel -- for a strategic partnership in the Rs 12,440-crore (Rs 124.40 billion) petrochemical plant, which one of its units is building at Dahej in Gujarat.
India's imports from Iran rose to 250,200 barrels per day
Deepak Fertilizers & Petrochemicals Corporation Ltd has informed BSE that the Board of Directors of the company at its meeting held on January 28
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The certified copies of the orders of the Gujarat and Bombay high court, sanctioning the scheme of amalgamation of IPCL with Reliance Industries, were filed with the respective registrar of companies on Wednesday.
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.
Indian Petrochemicals Corporation Ltd employees affiliated to three separate unions in Vadodra will go on a mass protest on Tuesday against the proposed transfer of some of them to Reliance Industries' SEZ in Jamnagar.
The Cabinet Committee on Economic Affairs at its meeting this morning approved the project, official sources said.
