Reliance Industries will sell 20 per cent stake in its oil and chemicals business to Saudi oil giant Aramco for about $ 15 billion and nearly half of its fuel retail business to BP of UK for Rs 7,000 crore. Aramco, the world's biggest crude exporter, will also supply Reliance's twin-refineries at Jamnagar in Gujarat with 7,00,000 barrels of oil a day on a long-term basis, Ambani said.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
A coming together of the brothers will combine their separate, complementary and equally formidable strengths: Mukesh can execute mega projects in record time and derive value from scale; Anil is deft with finance and all things related to consumers and brands.
CPCL, in which Indian Oil holds 51 per cent stake, runs a 9.5-million tonnes per annum refinery at Manali in Chennai.
To get three-year term as non-executive chairman from Feb; firm to create CEO's post; AGM to ratify Sanjiv Puri, Rajiv Tandon's appointment as directors
Reliance Industries, the country's most valued company, is delaying its annual general meeting this year following non-receipt of approvals for merger of Indian Petrochemicals with itself.
COAI sid the huge volume of traffic from RJio will pull down the weighted average voice realisation for other operators from 30-40 paise to 22-25 paise per minute or lower
Mukesh Ambani said, by March 2017, it will cover 90 per cent of India's population
Reliance Energy Ltd shareholders on Wednesday approved a proposal to buy back a part of its equity shares at maximum Rs 525 per share aggregating up to Rs 350 crore.
While Mukesh Ambani-led RIL posted a 108 per cent YoY rise in profit after tax for Q4FY21 at Rs 13,227 crore, it fell short of Bloomberg estimate of Rs 13,704 crore.
The alliance combines capabilities of both the companies to offer a set of solutions comprising connectivity, computing, storage solutions, and other technology services and applications required by Indian businesses, and will span the broad Reliance Industries ecosystem, including its existing and new businesses.
RJio will further add bottomline pressures on the already struggling telcos that will ultimately be forced to consolidate
'We began foolishly bragging about Saudi-Emirati investment plans as indicative of the sheikhs 'distancing' from Pakistan, including on Kashmir,' notes Ambassador M K Bhadrakumar.
RIL had said at that time the allegations were baseless and devoid of any merit.
In the latest move, the telco has reduced validity for its Rs 309/509 packages from 84 days to 56
India is perceived to be a powerhouse for investment in coming times.
Analysts cautious on outlook, expect earnings to remain under pressure over medium term.
BSE Healthcare, Oil & Gas, Consumer Durable, TECk, Power and Metal indices declined between 0.5-1%.
Markets under pressure; IT financials grab spotlight.
Sesnsex ended the day flat on heavy selling pressure.
Benchmark share indices gained for the fifth straight session on Thursday led by index heavyweight Reliance Industries.
The government has formed a four-member panel of secretaries to suggest a new gas pricing mechanism.
India's innately hierarchy-prone corporate culture produces its share of willing sycophants, says Kanika Datta.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Most Asian stock markets steadied on Wednesday.
Sensex may remain under pressure this week due to weak global factors.
The RIL stock has halved from an all-time high of Rs 1,626 made (intra-day) on January 15, 2008, to on Wednesday's closing figure of Rs 800.55.
Summary of sports events and persons who made news on Monday
The 30-share Sensex lost 54 points at end at 27,086 and 50-share Nifty shed 19 points to close at 8,096.
2015 is set for a lot of changes - and some that we would like to happen
The Supreme Court on Wednesday deferred the Board of Control for Cricket in India elections till the end of January even as the cricket body opposed the constitution of an external high-powered committee to propose punishment on the Mudgal Committee's findings in the betting and spot-fixing scam in the Indian Premier League.
FIIs pump in Rs 2,075 crore in past three trading sessions.
