Asia's richest man, Mukesh Ambani, signed off an address to employees last week by assuring them that 2024 would be better than 2023 for both Reliance Industries and India. Ambani isn't an exception. Promoters and their representatives from several other conglomerates have expressed similar optimism.
Reliance Industries has since April stopped selling gasoline and gas oil to Iran in an apparent bid to escape sanctions by the US, where it is eyeing an acquisition.
Reliance Industries has not violated any regulations, a spokesperson for Mukesh Ambani-led firm said on Monday, when asked about Sebi's show-cause notice in relation to sale of shares of its then subsidiary Reliance Petroleum in late 2007.
A Division Bench led by Chief Justice Swatenter Kumar on Thursday dismissed NTPC's appeal. The suit between the two parties relates to their gas supply agreement.
In early afternoon trade, Oil and Natural Gas Corporation toppled Reliance Industries Limited as the country's most valued firm, but its lead lasted only for a few seconds before the private sector corporate giant grabbed the top slot again.
IndusInd Bank was the top gainer in the Sensex pack, rising nearly 6 per cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance Industries. NSE Nifty surged 183.70 points to close at 17,166.90.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
Anand Jain, a key confidant of Reliance chairman and managing director Mukesh Ambani, has not quit the board of the group's petrochemical company IPCL contrary to media reports.\n\n
Over the next five years, plans to pump money in KG DG, refining, petrochemical sectors, retail and telecom.
An RIL spokesperson said that the company has filed its reply to the government's petition on the gas dispute.
RIL had sought 11.80 million standard cubic meters per day of KG D-6 gas to meet feedstock requirement at its twin refineries but it got only 2.34 mmscmd.
The market regulator Securities and Exchange Board of India (Sebi) has asked the government to consider appropriate action against Reliance Industries Ltd (RIL) for allegedly routing funds to dummy companies for buying large quantity of its shares 2000.
Days after the Cabinet approved doubling of natural gas price from April next year, the Finance Ministry has written to Oil Ministry suggesting setting of a ceiling or an upper limit for the rates.
The 3-year partnership to set up a pan India initiative to catalyse the country's technology startup ecosystem was signed today by R A Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Bhaskar Pramanik, Chairman, Microsoft India.
The government on Monday refused to review its decision rejecting the price of natural gas proposed to be sold by Reliance Industries Ltd to an Anil Ambani group firm.
The companies want to drill exploration wells in already producing oil and gas fields.
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
The combined market valuation of six of the 10 most valued companies surged by Rs 1,56,247.35 crore last week, with Reliance Industries Ltd (RIL) emerging as the biggest gainer. While RIL, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank, HDFC and Bajaj Finance saw gains in their market capitalisation (m-cap) in the holiday-shortened week, Infosys, HUL and LIC suffered losses. Stock markets were closed on Tuesday on account of Muharram.
Reliance Industries has said that developing smaller gas fields in the KG-D6 block is economically unviable at the current price of $4.20 per mmBtu and it may seek a rate of at least $6 per mmBtu in 2014, when the fields are put into production.
Japan's Orix Corporation, which was in talks with Reliance Industries (RIL) to sell its 23.87 per cent stake in Infrastructure Leasing and Finance Company (IL&FS), has bowled a googly.
The Directorate General of Hydrocarbons (DGH) had recommended to the ministry that RIL be asked to give up 86% of its KG-D6 gas block area
State-run insurer LIC and private fund house Franklin Templeton have hiked their stake in Mukesh Ambani-led Reliance Industries by collectively buying about 23 lakh shares, currently worth an estimated Rs 200 crore (Rs 2 billion).
Move aimed at increasing US major's refining flexibility & scale.
RIL is currently producing 36 mmscmd gas from KG-D6, half of which goes to power plants. The firm has the capacity to produce 60 mmscmd but is constrained to produce less as the government is yet to identify customers for buying gas beyond the initial 40 mmscmd, allocated primarily to fertiliser and power producers in accordance with the Gas Utilisation Policy.
The extraordinary general meeting of Reliance Industries Ltd on Friday virtually cleared the demerger of group companies, with company chairman Mukesh Ambani submitting over 65 per cent 'proxy' votes in favour of the scheme.
Market regulator SEBI is believed to have issued show-cause notice to Reliance Industries and its associate entities following a probe into charges of insider trading in securities of group firm Reliance Petroleum.
Siding with Reliance group chairman Mukesh Ambani, the board of the flagship company RIL on Wednesday rejected objections raised by his younger brother and vice chairman Anil
The government on Friday rejected Reliance Industries Ltd's demand for compensation equal to public sector oil firms, to make up for the losses it suffered on petrol and diesel sales.
Reliance Natural Resources Ltd chairman Anil Ambani is understood to have sought a review of the government's decision, rejecting the sale of natural gas by RIL to it.
Life Insurance Corporation of India, Housing Development Finance Corporation and State Bank of India together own a little over 45 per cent in IL&FS. The deal is expected to be valued around $2.5 billion.
Benchmark indices bounced back on Wednesday after falling for five straight sessions, with investors snapping up the recently-mauled IT, finance and consumption stocks amid a supportive trend overseas. A rebounding rupee further bolstered sentiment, traders said. Halting its five-session slide, the BSE Sensex jumped 574.35 points or 1.02 per cent to finish at 57,037.50. Similarly, the NSE Nifty surged 177.90 points or 1.05 per cent to 17,136.55.
Reliance is seeking help from Shell to rectify glitches in D6 block in the Krishna-Godavari basin.
India's largest refiner, Reliance Industries Ltd, is in talks with public sector oil marketer Hindustan Petroleum Corporation for a tie-up to run the former's fuel retail outlets, closed a year earlier.HPCL has issued a limited tender to five merchant bankers to advise it on the deal.Last year, RIL closed 1,400 petrol pumps -- 900 owned by the company and the rest managed by dealers.
Reliance Industries Limited toppled Oil and Natural Gas Corporation on Thursday to grab the numero uno position with a market capitalisation of over Rs 1,96,000 crore (Rs 1.96 trillion) as against ONGC's Rs 1,93,653.29 crore (Rs 1.93 trillion).
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
RIL sources said the company has not received any communication from the government to stop work in KG-D6 or any other blocks.
The company's revenue fell to Rs 67,470 crore (Rs 674.7 billion).
RIL had got the block in an intensely fought auction by submitting better commercial and technical bids than other bidders including ONGC-GAIL and Cairn Energy.
