RIL shares attracted good buying support in a bullish market and closed up by 4.80 per cent at Rs 754.05 a piece on the Bombay Stock Exchange.
Securities and Exchange Board of India is keeping close watch on scrips of Reliance Industries Ltd in the light of allegations made by Anil Ambani about breach of corporate governance norms in RIL.
There have been reports that RIL's mark-to-market losses on oil prices hedges has run into billions of dollars after its bets on crude futures went wrong last year, when prices first surged to a high of over 147 dollars and then plunged to below $40 a barrel.
Anil Ambani Group firm Reliance Infrastructure has agreed to pay the levy, although under protest, and has asked the Mukesh Ambani firm to resume natural gas supplies to its power plant.
State plans to ask Centre to increase K-G gas allocation.
Mukesh Ambani-led Reliance Industries on Tuesday said it has made the first oil discovery at an exploratory block in the Cambay basin in Gujarat.
The agreements between the four new companies transferred to Anil Ambani and his elder brother Mukesh's flagship company Reliance Industries may become the bone of contention.
RIL on June 15 wrote to Oil Ministry proposing to price natural gas it produces from the Krishna Godavari basin block in Bay of Bengal at a rate equivalent to price India pays for importing liquefied natural gas, official sources said.
RIL had in the New Exploration Licensing Policy rounds won 45 blocks and of these it has surrendered 14 blocks back to the government as it could not find commercially recoverable oil and gas, sources close to the company said.
Softening its stand on CAG audit, Reliance Industries has agreed to a scrutiny of its expenses in the flagging KG-D6 gas block by the official auditor even after expiry of the contractual period.
Sequel to firm's announcement of cut in K-G gas reserves after long decline in output; agency says it expects decline in cash flows.
Reliance Industries Ltd announced on Tuesday a big-ticket expansion in retailing business, which would have presence in 1,500 cities across India at an investment of about Rs 25,000 crore (Rs 250 billion) generating over 1000,000 new jobs.
Mukesh Ambani, the patriarch of Reliance Industries (RIL), and Gautam Adani, the chairman of Adani Group of companies, have secured the top positions on the Fortune India Rich List, created in partnership with Waterfield Advisors, with respective wealth of $99.7 billion and $63.71 billion. With a wealth of $34.6 billion, the Mistry family of Shapoorji Pallonji Group holds the third position on the list, while the Poonawalla family, owners of vaccine maker Serum Institute, with a wealth of $32.9 billion, stands fourth. Stockbroker and founder of D-Mart-branded grocery stores, Radhakishan Damani, claims the fifth spot on the India Rich List with a wealth of $23.4 billion
Shares of Reliance Industries (RIL) traded 2 per cent higher at Rs 2,310.10 on the BSE in intra-day trade in an otherwise volatile market after the company reported a 27.4 per cent year-on-year (YoY) growth in its consolidated net profit at Rs 17,394 crore for the September quarter (Q2FY24). While revenue growth of the company was flattish YoY at Rs 2.32 trillion, the profit rose on the back of operational improvement across most segments, especially higher profits in the O2C (oil-to-chemicals) and oil & gas businesses, as well as the retail business. "Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth," said Mukesh Ambani, chairman and managing director of the company.
Reliance Industries Ltd will announce its audited financial results for the year ended 31st March 2003, on Wednesday, April 23.
The 50-share NSE Nifty settled up 28.15 points, or 0.27 per cent, at 10,326.90 after shuttling between 10,358.70 and 10,315.05.
RIL, which has faced numerous delays in getting approvals and shifting goal-posts, said the country did not have a stable policy regime and this was responsible for exit of global energy giants like Royal Dutch Shell, BHP Biliton of Australia, Statoil of Norway and Brazil's Petrobras.
It would be complete by 2012 with a total investment of over Rs 11,300 crore, including an estimated Rs 2,300 crore from RIL and Rs 9,000 crore from GAIL. Analysts say refineries -- Mangalore Refinery and Petrochemicals, Chennai Petroleum Corporation, Essar, Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation -- located in the vicinity of these pipelines would benefit as they would be able to substitute costly fuel oil with cheaper gas.
Corporate giant Reliance Industries (RIL) on Tuesday said it has allotted 1.6 lakh shares to its employees under the Employees Stock Option Scheme (ESOP).
If proved correct, MJ-1 would the third biggest gas field in KG-D6 after D1&D3.
According to an official close to the development, in the coming financial audit report, to be tabled in Parliament's Budget session next year, CAG will detail the slide in the government's share in petroleum sector profits due to a drop in gas production.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
Winner will construct 300,000 barrels per day refinery.
A top management team of Anil Ambani group firm RNRL got stood up by Reliance Industries officials, who neither responded nor turned up for a proposed meeting to follow up the Bombay high court order on gas supply.
At the 45th Annual General Meeting of Reliance Industries (RIL) in August, chairman and managing director (CMD) Mukesh Ambani described the company as an "unputdownable book" with never-ending chapters of success. "Reliance grew from strength to strength because we internalised the founder's mindset of purpose, philosophy and passion," he said. Wednesday marked the 90th birth anniversary of RIL founder Dhirubhai Ambani.
The Reliance Anil Dhirubhai Ambani Group on Wednesday threatened to sue three top officials of Mukesh Ambani's Reliance Industries for breach of trust and their inability to protect the interest of shareholders of an ADAG company.
Mukesh Ambani, who took over the reins of Reliance Industries Ltd (RIL) after the sudden demise of his legendary industrialist father Dhirubhai Ambani, completes 20 years at the helm during which the company saw a 17-fold jump in revenues, 20-times surge in profit and has become a global conglomerate.
'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
Equity indices staged a pullback on Tuesday after three days of declines as investors scooped up IT, metal and consumption stocks amid a largely positive trend overseas. A recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex climbed 274.12 points or 0.45 per cent to settle at 61,418.96.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
The sharing agreement will provide more bandwidth for RJIL to provide its high-speed 4G services.
The Raigad district administration has asked RIL to submit details regarding production and safety measures at the plant.
Fitch Ratings on Tuesday said a higher natural gas price will help improve Reliance Industries' profitability in 2014-15 fiscal and would lead it to invest more in raising production.
Reliance Industries Ltd had sought to settle certain investigations into alleged violation of insider trading norms in sale of shares of its erstwhile subsidiary Reliance Petroleum Ltd, but the application to settle of the matter under Sebi's consent framework was rejected by the regulator.
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RIL with a market cap of Rs 2,98,776 crore (Rs 2,987.76 billion) is the country's second most valued company after Tata Consultancy Services.
The bench observed that it needs more time to study Sebi's view on the matter.
