Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
A CBI team on Friday visited office of oil regulator V K Sibal to check records following charges of his receiving favours from Mukesh Ambani-led RIL to approve an inflated expenditure for gas field, a charge denied by him.
Mukesh Ambani group firm Reliance Industries on Wednesday said it will issue one bonus share for every share held in the company.
RIL on Friday declared a net profit of Rs 20,040 crore (Rs 200.4 billion) for the 2011-12, a marginal drop from the Rs 20,286 crore (Rs 202.86 billion) it made in 2010-11.
Reliance industries on Monday increased diesel prices by Rs 2 per litre.
A bench headed by Chief Justice P Sathasivam sought response from the Centre and RIL on a PIL filed by Communist Party of India Member of Parliament Gurudas Dasgupta who alleged that no due diligence was done by the government while increasing the price of natural gas.
Mustang's work for the KG-D6 Development (plan) was based on all available information and performed in an independent manner in October/November 2007," Woods Group -- the parent firm of the engineering consultancy firm -- said in an e-mailed statement from Houston. Anil Ambani group, fighting a legal battle to source gas from RIL's KG-D6 fields at less than market price, had stated the Mustang was not the best to validate because it had carried out separate work.
Terming as 'malicious, baseless, mischievous and ill-informed' the advertisement propaganda by Anil Ambani Group on its gas field capex, Reliance Industries has stated that the development cost was the lowest in the world and compares favourably to any other project in India.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
Lok Sabha MP Harsh Vardhan on July 23 wrote to Petroleum Minister Murli Deora asking why the government had kept quiet for all this while on the Ambani family MoU that provides for dividing Krishna-Godavari basin gas between companies run by brothers Mukesh and Anil.
The capital market regulator has accused Reliance Petroinvestments of buying shares of Indian Petrochemicals Corp Ltd in early 2007 just before it declared an interim dividend and announced the merger of IPCL with RIL.
As a situation similar to the game of musical chairs continued for yet another day, Infosys slipped to the second position after RIL in terms of their weightage on the Indian stock market's barometer index, the Sensex.
Market players were cautious over Reliance Industries on Wednesday following reports that Sebi has asked CBI to probe into UTI's subscription to the company's debenture issue.
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.
Moving closer to demerger of power, telecom and financial businesses from it, Reliance Industries on Thursday invited notices in support or against the demerger petition, which would come up for hearing in the Bombay High Court on November 25.
Reliance Industries on Friday dubbed as a "canard" allegations that the near-doubling of natural gas prices will lead to a similar hike in domestic cooking gas (LPG) and inflation in food item rates.
Reliance Industries on Monday clarified that the company made purchases from Iraqi crude oil suppliers at the then prevailing international prices and no other payments were involved in these purchases.
BP Plc, Europe's second biggest oil company, and Reliance Industries will invest $5 billion in developing untapped gas reserves in the KG-D6 block, aimed at reversing the fall in gas production, RIL statement said on Tuesday.
The company is irked over not being granted the promised drilling moratorium to cover for the acute shortage of rigs.
Reliance Industries on Wednesday decided to double the production capacity at its Jamnagar Refinery to 60 million tonnes at an investment of Rs 25,000 crore (Rs 250 billion).
Reliance will also announce its third quarter results on the same day.
NTPC is fighting a case in the Bombay high court to get gas from RIL at a committed price of $2.34 per mmBtu.
Reliance Industries on Friday said that it has made a sixth oil discovery in the Gujarat block, but did not give the reserves that the latest find may hold.
Replying to a calling-attention motion in Rajya Sabha, oil minister Murli Deora said the $4.2 per million British thermal unit price fixed for gas produced from KG-D6 fields of RIL was lower than the average of $5.51 per mmBtu charged by UK's BG-led consortium for Panna/Mukta and Tapti gas. It was also lower than the $4.3 per mmBtu price of gas produced from Cairn's Ravva Satellite fields and $4.75 per mmBtu for the UK firm's Lakshmi fields.
It reported a record net profit of Rs 36,075 crore for the 2017-18 fiscal, up 20.6 per cent.
Reliance Industries Ltd -on Saturday authorised its board committee to suggest a 'suitable scheme' of reorganisation in the wake of the settlement of ownership issues between the Ambanis.
Mukesh Ambani-promoted Reliance Industries will lose around $1 billion (Rs 4,300 crore) a year if it sells gas to the Anil Ambani's Reliance Natural Resources at the agreed price of $2.34 per million British thermal unit
Reflecting the differences with elder brother Mukesh on buyback of shares by flagship company Reliance Industries, Anil Ambani on Wednesday said he had proposed that 12 per cent equity in RIL held by the Petroleum Trust and four companies be distribu
Mukesh Ambani controlled Reliance Industries fears that gas supplied to Reliance Natural Resources, belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL.
US energy major Chevron may pick up a stake in the Reliance Industries' upcoming Rs 27,000 crore
But RIL is yet to agree on the grounds that it is studying the implication of the judgement. On June 15, the Bombay high court gave the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna Godavari basin fields.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
Reliance Industries, India's largest company by market capitalisation, and GAIL India, the largest transporter and marketer of gas, have sought licences to sell natural gas to households and vehicles across 60 cities in India.
Cash flows from RPL will help Reliance to step up investments on explorations. Reliance Industries, which owns the world's biggest refinery complex, is looking at additional cash flows, tax benefits, continuity of export status and other synergies in its attempt to merge Reliance Petroleum with itself, after a 54 per cent decline in stock prices.
RIL, which has 26 oil and gas blocks, including the giant KG-D6 fields, has been applying to the Home Ministry for security clearance of the specialised expatriate technical personnel deployed on its offshore vessels, including seismic survey ships, drill ships, tug boats and supply vessels.
RIL is charging $0.135 per million British thermal unit marketing margin on sale of gas from its eastern offshore KG-D6 fields, a levy which was opposed by state-run NTPC.
The quantities and price of $4.2 per mmBtu for gas under the GSPAs signed for five years are as approved by the government.
Reliance Industries has posted good growth in Q1 of the current financial year.
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