The Reliance Industries' digital services company Jio Platforms Limited has signed an agreement with SpaceX to offer Starlink's broadband internet services to its customers in India, the company said on Wednesday. The agreement is subject to SpaceX receiving authorisation to sell Starlink in India. The development came a day after Jio's rival Bharti Airtel signed a similar pact with SpaceX.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
India's purchase of US crude oil has picked up in 2025 and could easily double their previous levels, government officials said on Wednesday. The surge comes in the wake of the then-incoming Donald Trump administration's announcement that it would consider hiking tariffs on a reciprocal basis, and pushed some countries, especially those with large trade surpluses with the US, to buy more of its energy.
Mahindra & Mahindra, Bharti Airtel, Tata Consultancy Services, Infosys, ICICI Bank, and ITC were the biggest laggards. Foreign portfolio investors (FPIs) offloaded equities worth Rs 4,294.69 crore on Friday, according to exchange data.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
What was the fraud? Why did Sebi drag its feet on the order? What options does RIL have now? Samie Modak explains these and more.
'You must be good at using AI as a tool of learning but do not give up your own critical thinking.'
The stock of India's largest listed pure play retail major Trent was down 14.76 per cent at close on Monday after a fall in revenue growth for the March quarter of 2024-25 (Q4FY25). The sales growth trajectory has been in a declining trend over the last few quarters, which, coupled with falling operational metrics, higher competitive intensity, and expensive valuations, has seen the stock crack about 44 per cent since its 52-week highs in October last year.
India on Tuesday opened its largest oil and gas bid round, offering 25 blocks covering 1.91 lakh square kilometers mostly in offshore area, as the government looks to boost domestic production to cut imports and help energy security. Petroleum Minister Hardeep Singh Puri launched the 10th bid round under the Open Acreage Licensing Policy (OALP) at the India Energy Week (IEW) in Mumbai.
Billionaire Mukesh Ambani's Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. "From January 2024 to the end of January 2025, the US imported EUR 2.8 billion of refined oil from six refineries in India and Turkey that process Russian crude.
Oil marketing companies (OMCs), paint manufacturers, tyre producers, and aviation stocks witnessed significant gains as Brent crude oil prices slipped below $70 per barrel. The price drop came after a double blow: The US imposed tariffs on Canada and Mexico, including energy imports, and OPEC+ - the group of major oil-producing nations including Russia - announced an output increase of 138,000 barrels per day, the first such hike since 2022.
Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India. Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37.
The government has slapped a $2.81 billion (about Rs 24,500 crore) demand notice on Reliance Industries and its partners, including BP Plc for gains made from producing and selling natural gas that may have migrated from neighbouring block of state-owned ONGC. This follows the Delhi high court's decision on February 14, overturning an international arbitration tribunal ruling that held the duo not responsible for paying any compensation for the gas they produced and sold which had allegedly migrated from adjoining fields.
From the 30 blue-chip stocks, Titan, Asian Paints, Nestle, Tech Mahindra, Reliance Industries, Zomato, Larsen & Toubro and Bajaj Finserv were among the laggards. Adani Ports, Mahindra & Mahindra, Maruti, Sun Pharma, Bharti Airtel and Tata Motors were among the gainers.
From the 30-share Sensex pack, Mahindra & Mahindra, Tata Steel, Adani Ports, JSW Steel, IndusInd Bank, Reliance Industries, HDFC Bank and Kotak Mahindra Bank were the biggest laggards. Tata Motors, NTPC, Hindustan Unilever, Asian Paints and Infosys were the gainers.
ONGC's overseas arm applied for a sanctions waiver to access $500 million dividend from two Venezuelan projects.
From Sensex shares, Larsen & Toubro, Tata Motors, Hindustan Unilever, Asian Paints, ITC, Power Grid, NTPC and Reliance Industries were the major laggards. Among the gainers, Bajaj Finance jumped over 5 per cent. Mahindra & Mahindra, Bajaj Finserv, Bharti Airtel and Maruti also ended higher.
India and the visiting US officials have decided to hold a wrap-up session on Saturday morning to conclude the three-day talks on the proposed bilateral trade agreement, government sources said. They said the discussions are at a "very" early stage.
Mumbai Indians won a fiercely contested e-auction, fending off competition from a Silicon Valley tech consortium, comprising the chief executives of Google, Microsoft, and Adobe as well Gujarat Titans owners CVC.
Nearly a dozen firms have shown interest in building the foundation model and LLMs, while others have proposed sector-specific SLMs.
The combined market valuation of eight of the top-10 most valued firms surged Rs 1,21,270.83 crore last week, with Reliance Industries becoming the biggest gainer, in line with an outstanding rally in benchmark equity indices. Last week, the BSE benchmark jumped 1,027.54 points or 1.21 per cent. The BSE Sensex hit its record high of 85,978.25 on Friday.
Billionaire Mukesh Ambani's Reliance Industries Ltd has spent $13 billion on acquisitions in the past five years across new energy, telecom, retail and media business to script a pivot away from core oil and petrochemicals business to clean energy and consumer facing verticals. Last week, Reliance bought oncology platform Karkinos Healthcare for Rs 375 crore, adding another stack to its diagnostic and digital healthcare ecosystem, Morgan Stanley said in a report.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
Surrey confirm deal with Reliance, keep majority stake in Oval Invincibles
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
Tatas, Ambanis, Adanis, Birlas contributed an average of Rs 800 crore to Rs 1,000 crore per family group.
Ambani and Adani account for a fifth of the net worth of all billionaire promoters in the country and half the combined net worth of the top 10.
Reliance Industries Limited has been granted approval to set up a battery manufacturing facility for up to 10 GW under the Rs 3,620 crore-Production Linked Incentives (PLI) scheme for ACC Battery Storage, the government said on Wednesday. The Ministry of Heavy Industries had received bids from seven bidders under global tender for Production Linked Incentives (PLI) scheme for 10 GWh Advanced Chemistry Cell (ACC) manufacturing, with a maximum budgetary outlay of Rs 3,620 crore, announced on January 24, 2024.
While GBP 50 million is earmarked for grassroots and recreational cricket, the 18 English county teams will get a share of GBP 470 million with larger pie allocated for those clubs that don't own a 'Hundred Franchise'.
IOA president P T Usha firmly refuted allegations made by treasurer Sahdev Yadav regarding financial loss incurred by the body due to its contract renegotiation with Reliance Industries Limited
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
'Selling could further intensify and take the index towards 22,800-22,750 in the near-term.'
The government on Monday scrapped 30-month old windfall profit tax on domestically-produced crude oil and on export of jet fuel (ATF), diesel and petrol following a decline in international oil prices. Minister of State for Finance Pankaj Chaudhary tabled a notification in Rajya Sabha scrapping the levy on crude oil produced by firms like state-owned Oil and Natural Gas Corporation (ONGC) and exports of fuels done by companies like Reliance Industries Ltd.
Oil-to-telecom conglomerate Reliance Industries Ltd (RIL) has surprised the street with a better than expected performance in its oil-to-chemicals (O2C) division in October-December 2024 (Q3FY25). RIL executives attributed it to favourable feedstock sourcing and higher volumes. However, they also listed cost optimisation and other measures.
A pet project of the Indian Army, four-legged robotic prototypes have been making waves at the Republic Day and Army Day parades in the past year.
"Heartfelt congratulations to our Men's Hockey Team on winning bronze at the Paris Olympics," Ambani said.
Some of India's largest conglomerates are gearing up to either commission or commercially start the first phase of their new energy projects this year, according to company executives and analysts.
Trump's tariff threats spooks markets; Sensex down 106 points
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