Over the next five years, plans to pump money in KG DG, refining, petrochemical sectors, retail and telecom.
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.
Global rating agency Standard and Poor's on Monday cautioned that the credit quality of Mukesh Ambani controlled Reliance group's flagship company RIL might "weaken"
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
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.
Bajaj Auto, BHEL, Infosys, ITC and RIL are among the 12 listed Indian companies which have figured in the latest list of 'Fabulous 50' of prestigious international magazine Forbes Asia.
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.
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.
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.
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 early bird results for the January-March quarter of 2022-23 (Q4FY23) show a pick-up in earnings growth, despite a slowdown in revenue growth, thanks to a decline in input costs and lower provisioning for bad loans by banks. The combined net profit of 66 companies that have, so far, declared their quarterly results was up 15.2 per cent year-on-year (YoY) in Q4FY23, an improvement from 4.3 per cent YoY growth in Q3. Net sales growth of these companies, however, slowed down to 11.5 per cent YoY in January-March 2023, the slowest rate in eight quarters.
An RIL spokesperson said that the company has filed its reply to the government's petition on the gas dispute.
The companies want to drill exploration wells in already producing oil and gas fields.
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.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
Tech Mahindra, the top loser in the Sensex pack, shed over 2.5 per cent. It was followed by UltraTech Cement, Reliance Industries, HCL Tech, HDFC, Kotak Bank, HDFC Bank and TCS. NSE Nifty plunged 179.35 points to 17,745.90.
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.
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
With a potential for a 10x growth in pre-tax profit from the business over the next decade, retail including e-commerce will be the next growth engine for Reliance Industries Ltd, Goldman Sachs said in a report. After growing 5x over FY16-FY20, RIL's core retail revenue growth has taken a pause in FY21 (April 2020 to March 2021) due to Covid related macro headwinds including lower footfalls. The oil-to-telecom conglomerate run by billionaire Mukesh Ambani used the period to build strong digital capabilities of the retail business while continuing to expand its physical reach.
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
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
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 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.
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).
Bajaj Finance was the top loser in the Sensex pack, shedding around 3 per cent, followed by UltraTech Cement, NTPC, Axis Bank, ICICI Bank, IndusInd Bank, Reliance Industries, L&T and HDFC Bank. NSE Nifty slipped 38.95 points to 14,834.85.
Debt-ridden Future Group is now focusing on saving and rebuilding firms such as -- Future Lifestyle Fashions, Future Supply Chain Solutions, Future Consumer and Future Enterprises, after the Rs 24,713-crore deal with Reliance Retail was rejected by secured creditors, according to industry sources. However, Future Group's flagship firm Future Retail Ltd (FRL), which has nearly Rs 18,000 crore debt, is bound to face the corporate insolvency resolution process before the National Company Law Tribunal (NCLT). Other companies like Future Enterprises Ltd (FEL), Future Lifestyle Fashions Ltd (FLFL), Future Supply Chain Solutions Ltd (FSCSL), Future Consumer Ltd (FCL) can sustain on their own and can be rebuilt by restructuring their liabilities with the help of current lenders and investors, said an industry source close to the Future Group.
The company's revenue fell to Rs 67,470 crore (Rs 674.7 billion).
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.
ITC topped the Sensex gainers' chart with a jump of 3.31 per cent, followed by Reliance Industries, Bajaj Finance, ICICI Bank, Infosys, Axis Bank and Wipro. On the other hand, NTPC, UltraTech Cement, L&T, Sun Pharma, Asian Paints and Maruti were among the major laggards.
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.
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.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
Move aimed at increasing US major's refining flexibility & scale.
RIL sources said the company has not received any communication from the government to stop work in KG-D6 or any other blocks.
Reliance is seeking help from Shell to rectify glitches in D6 block in the Krishna-Godavari basin.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI. NSE Nifty advanced 184.60 points to 16,955.45.
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.
