BSES Ltd became a part of the Reliance Group with Anil Ambani being appointed chairman of the Mumbai-based power utility.\n\n\n\n
With the Mukesh Ambani-promoted Reliance Industries Ltd (RIL) planning to approach the Supreme Court, challenging a High Court order for selling gas at $2.34 per million British thermal unit (mBtu) to Reliance Natural Resources Ltd (RNRL), the chances of an agreement between the Ambani brothers by July 15 appear remote.
Promoters have consolidated their stake in Reliance Industries Ltd by picking up a 2.02 per cent stake in it through open market transactions, taking their total share in the company to 49.16 per cent.\n\n
In the previous fiscal year, he drew a Rs 15 crore salary from the company -- the same as in the previous 11 years.
State Bank of India, Adani Ports, Tata Consultancy Services, ICICI Bank, Reliance Industries and PowerGrid were also among the laggards.
There is nothing much for Anil Ambani group firm Reliance Natural Resources Ltd to renegotiate with Reliance Industries Ltd, as the price and quantity of gas it is seeking will be dictated by the government policy and the tenure of supply will depend on life of the fields.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
In a major relief to Mukesh Ambani-led Reliance Industries Ltd, the Bombay High Court Friday allowed the sale of gas from the Krishna-Godavari basin at $4.20 per million British thermal unit (mBtu) and reserved final judgment on a case brought by Anil Ambani-run Reliance Natural Resources Ltd.
The company's net profit was Rs 5,972 crore in the same period of 2014-15 fiscal.
The government told the Bombay high court on Friday that the empowered group of ministers decided that Mukesh Ambani-led RIL will start supplying gas from the KG basin to Anil Ambani's Dadri power project and other upcoming power plants once it is ready to begin operations.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Sebi was probing a complaint by S Gurumurthy of Swadeshi Jagran Manch, alleging that RIL and its investors lost at least Rs 2,700 crore.
Chairman of Reliance Industries Ltd Mukesh Ambani and his younger brother Anil today met Home Minister P Chidambaram separately at his North Block office within a span of 50 minutes.
Anant Ambani, the youngest son of billionaire Mukesh Ambani, will wed Radhika Merchant, daughter of industrialist Viren Merchant, the family announced on Thursday. The 'roka' or engagement ceremony of Radhika, daughter of Shaila and Viren Merchant, and Anant was performed at the Shrinathji Temple at Nathdwara in Rajasthan on Thursday in the presence of family members and friends. A statement issued by the family said the young couple after the engagement spent the day at the temple seeking Lord Shrinathji's blessings for their upcoming union.
A fall in crude oil price and Aramco's $75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd's oil-to-chemical unit (O2C), research firm Jefferies said. Richest Indian Mukesh Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company.
Industrialist Anil Ambani on Tuesday dared the petroleum ministry to take back the ownership of gas fields from Reliance Industries Ltd if it seriously believed that terms of the contract were violated by Mukesh Ambani-led firm, which he alleged was wanting to make a super-profit of Rs 50,000 crore (Rs 500 billion).
The Supreme Court on Monday asked Mukesh Ambani-run Reliance Industries Ltd and Anil Ambani group firm Reliance Natural Resources Ltd to reply to the government's prayer for declaring 'null and void' their family agreement on gas supply, and posted the matter for hearing on September 1.
A division bench of Justices J N Patel and K K Tated said that the new agreement should be as per the memorandum of understanding between the Ambani brothers Mukesh and Anil. The MoU stipulates that RIL would supply 28 mmscmd of gas to RNRL for 17 years at the rate of $2.43 per million British Thermal Units.
Equity markets will look for directions from global trends, ongoing quarterly earnings and investment patterns of foreign institutional investors (FIIs) in a holiday-shortened week ahead and may encounter volatility amid the scheduled monthly derivatives expiry, according to analysts. Equity markets will remain closed on Wednesday on account of 'Republic Day'. "This week is a holiday-shortened one and it's going to be critical due to the list of events and data that are lined up.
Reliance Industries edged past Oil and Natural Gas Corporation in morning deals on Thursday to become India's most valuable company with a market capitalisation of Rs 1,60,949 crore (Rs 1609. 49 billion).
RNRL had sought 28 mscmd of gas for 17 years at $2.34 per million British thermal units (mBtu) from Mukesh Ambani's RIL.
Read the full text of the Supreme Court ruling in the Krishna Godavari Basin gas dispute between Mukesh Ambani-led Reliance Industries Ltd and Anil Ambani's Reliance Natural Resources Ltd.
Among the Sensex firms, IndusInd Bank, Power Grid, Tata Motors, Bajaj Finance, NTPC, HDFC Bank, Reliance Industries, Nestle and Kotak Mahindra Bank were the major gainers. Infosys, State Bank of India, Tata Steel, Hindustan Unilever and Titan were the major laggards.
With the Supreme Court likely to announce its judgement on the gas price tussle between Ambani brothers next week, the share price of Reliance Industries Ltd has taken a sharp knock while Reliance Natural Resources Ltd witnessed a spike.
The National Commodity and Derivatives Exchange Ltd plans to rope in oil companies like Indian Oil Corporation and Reliance Industries Ltd to boost Brent crude futures trading on the bourse.
RIL's merger with RPL will mean non-issue of treasury stock worth Rs 26,000 crore, which means less headroom to raise funds. Since no treasury stock is going to be created, RIL will issue 69.2 million shares to RPL's ordinary shareholders. As a result, RIL's paid-up capital will increase to only Rs 1,643 crore from the present Rs 1,574 crore. This, in turn, will enhance the earning per share proportionately for RIL shareholders.
A shortlist using artificial intelligence would be prepared to identify eligible candidates and match them to the suitable internship opportunity. The shortlist would be shared with the companies on Tuesday, October 15.
Reliance Industries Ltd (RIL) was the star performer in Friday's session, spurting over 6 per cent to its all-time high, Other Sensex gainers included Bajaj Finance, PowerGrid, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, IndusInd Bank, HCL Tech, ITC, M&M HDFC and Infosys shed up to 2.94 per cent.
From the 30-share pack, Adani Port, Bharti Airtel, Asian Paints, IndusInd Bank, Bajaj Finserv, Reliance Industries, Infosys, UltraTech Cement, HDFC Bank, HCL Technologies and ICICI Bank were among the laggards. Tata Motors, Axis Bank, Maruti, Larsen & Toubro, ITC and Tata Steel were among the gainers.
IndianOil targets monthly 5,000-tonne polypropylene exports
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
Many top firms have had to write down their investments, as the value of those have collapsed due to sluggish biz conditions.
Reliance Capital Partners, a part of Anil Ambani-controlled Reliance Capital Group, will acquire 14.55 per cent stake in Maxwell Industries Ltd for Rs 45 crore (Rs 450 million).
Mukesh Ambani's Reliance Industries Ltd is taking the Bombay High Court order of June 15 on gas supply to Anil Ambani's Reliance Natural Resources Ltd to the Supreme Court."We have been advised to and are filing appropriate proceedings in the Supreme Court against the judgment delivered by the Bombay High Court," it told RNRL in a mail, in reply to an earlier letter sent in the day by the former, demanding that the HC judgement be implemented without more delay.
In a nearly 10-year-old case, Sebi on March 24 had banned Reliance Industries and 12 others from equity derivatives trading for one year, while accusing RIL of making 'unlawful gains'.
India's most valued company, Reliance Industries Ltd (RIL), reported a robust performance in the third quarter of the current financial year (Q3FY25), surpassing analyst expectations. This coupled with positive commentary by brokerages led to the stock of the oil-to-telecom conglomerate surging as much as 4.44 per cent to hit an intraday high of Rs 1,325.1. It settled at Rs 1,301.3 apiece, up 2.57 per cent.
Petroleum secretary RS Pandey declined to comment on the court verdict till the Government received a copy of the order. The Bombay high court on Monday upheld Anil Ambani group firm Reliance Natural Resources Ltd's contention to buy 28 mscmd of gas from Reliance Industries Ltd at USD 2.34 per mmBtu for 17 years.
Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, will set up a new age world-class university in India.
Petroleum secretary G C Chaturvedi said the arbitration notice grants a time of up to a month to respond and there was no hurry.
