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"
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.
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.
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.
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.
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.
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.
The windfall taxes on domestic crude oil production and fuel exports will generate close to $12 billion (Rs 94,800 crore) for the government in the remainder of the current fiscal while trimming profits of firms such as Reliance Industries Ltd and ONGC, Moody's Investors Service said Tuesday. On July 1, the government imposed windfall gain taxes on the export of petrol, diesel and aviation turbine fuel (ATF), and on the domestic production of crude oil. It has also mandated exporters to meet the requirements of the domestic market first.
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.
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.
Reliance Industries Ltd, India's largest private sector oil firm, has sought compensation similar to what is extended to public sector fuel retailing companies
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Bajaj Finance, Kotak Bank, Bharti Airtel and Reliance Industries. Nifty fell 43.35 points to 17,324.90.
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
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
Led by Tata Motors and Tata Consultancy Services (TCS), the combined revenue of the Tata group's listed firms crossed the Rs 10-trillion mark for the first time, in 2022-23. The group's 14 key listed companies in which Tata Sons holds a direct equity stake reported a combined revenue of Rs 10.07 trillion in FY23, up 15.3 per cent from Rs 8.73 trillion in FY22. The combined net profit of these companies was, however, down 10.6 per cent year-on-year (YoY) at Rs 66,670 crore in FY23, from a record high of Rs 74,540 crore in the previous financial year, when the profit had jumped 156 per cent YoY, aided by Tata Steel's strong showing.
A price of $4.20 per million British thermal units is not viable for smaller gas discoveries, say industry experts.
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.
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.
The company's revenue fell to Rs 67,470 crore (Rs 674.7 billion).
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).
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.
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 proposed reorganisation plan by Reliance Industries Ltd to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary is a step towards facilitating participation by strategic investors in the unit, Fitch Ratings said on Tuesday. The reorganisation of the business in Reliance O2C Limited (O2C) "will have a neutral impact on RIL's credit metrics and rating," it said in a statement. The transfer will be on a "slump sale basis", subject to attaining the requisite approvals.
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.
To invest Rs 10,653 crore in Venezuela and another Rs 2,644 crore in retail business.
The combined market-cap of all listed Adani group firms has plunged nearly Rs 7.11 trillion since January 24 when the Hindenburg report was made public.
RIL sources said the company has not received any communication from the government to stop work in KG-D6 or any other blocks.
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.
Move aimed at increasing US major's refining flexibility & scale.
Reliance is seeking help from Shell to rectify glitches in D6 block in the Krishna-Godavari basin.
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.
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.
The stake sale follows Mukesh Ambani-run firm exiting from two oil blocks in Kurdistan region of Iraq.
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.
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
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