'There's significant interest from both existing and new sponsors who recognise the value of associating with Olympic athletes.'
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.
After creating history with its IPO earlier last month, Reliance Petroleum Ltd is set to join the league of top 15 companies in India in terms of market capitalisation in its debut trade on Thursday.
Reliance Petroleum Ltd, the subsidiary of Mukesh Ambani-owned Reliance Industries, plans to list on the stock exchanges in the first half of May.
Oil regulator PNGRB on Monday approved the tariff that Mukesh Ambani-owned East-West pipeline will charge for transporting gas from Reliance Industries' eastern offshore KG-D6 fields to users.
RIL officials had then termed the deal a "win-win" for both the companies. It's an irony that the termination of the agreement was also hailed as a "win-win" by RIL in informal briefings with the media today. When reminded about this, an RIL official shrugged and said "nothing is constant in business."
Reliance Petro, the petroleum business unit of Reliance Industries Limited, has embarked upon retail expansion binge in a big way to become the biggest player in the private sector.
Dhirubhai may or may not have owned the government; it would seem his son wants to own the market, notes T N Ninan.
The biggest private petroleum company had lost the tender due to OMCs adopting a uniform strategy of differential discounts at different locations. Asked, CCI officials were not available for a comment.
Reliance's Jamnagar units, including the existing refinery and the second one that will begin work by mid-November, will be the world's largest single-location refining facility. The entire refinery complex will have a total processing capacity of 1.24 million barrels a day. The current production of the existing unit is 0.66 million barrels a day.
.jpg)
The Reliance Group employee is among those who have been arrested
The government has allowed Reliance Industries Ltd and Mangalore Refineries and Petrochemicals Ltd to sell kerosene outside the public distribution system, Petroleum Minister Mani Shankar Aiyar said on Thursday.
Extend tax holiday for refineries in private sectors, reduce excise duty on Naphtha from 16%, exempt excise duty for captive consumption of intermediate products within the refinery for manufacture of exempted products.
After a spike in crude oil and gas prices in October following the Hamas terror attack, prices eased down 9 per cent month-on-month in November. The Organization of the Petroleum Exporting Countries (Opec) and Opec+ agreed to a further voluntary production cut in January-March 2024 to try and support global crude prices. The best guess here is that crude prices (currently at $75/barrel, or bbl) will not likely cross significantly above $80, and gas prices are also likely to remain subdued unless there's a further escalation in the Israel-Hamas conflict.
More than a year of Covid-19 has pushed most businesses into gloom but Reliance Industries Ltd (RIL) managed to reduce its gross debt 25 per cent, enabling it to turn towards its next phase of capital expenditure that has come in the form of a Rs 75,000-crore plan for green energy and power storage. The company managed to stay afloat during the pandemic because of its large presence in the consumer-centric businesses of retail and telecommunication (see chart: "A new Reliance"). These two businesses constituted 45 per cent of its EBITDA during FY21 from 36 per cent in FY20.
Chalking out an aggressive expansion strategy in the petroleum retail segment, Mukesh Ambani-run Reliance Industries on Thursday said it will more than double the number of fuel stations across the country by the middle of next year.
Reliance Industries, India's largest private sector oil company that shut down all of its petrol pumps earlier this year because of huge losses, wants to restart selling petrol and diesel after margins on the two fuels turned positive.
RFRL Group President A N Sethuraman on September 3 filed three separate applications with the Petroleum and Natural Gas Regulatory Board for licences to sell CNG to automobiles and piped gas to households in Mumbai, Delhi, Gurgaon, Faridabad etc.
'Govt for establishing facts with regard to Volcker report'
Reliance has announced that it will roll out its e-commerce platform to as many as 1.2 million retailers and store owners in Gujarat. This is part of a nationwide roll-out that will come later this yea, reports Viveat Susan Pinto.
Reliance Industries Ltd on Thursday launched its fourth highway hospitality 'dhaba' in Uttar Pradesh at a company petroleum retail outlet in Kamlapur on the Lucknow-Sitapur highway.
Gujaratis, the community that boasts of the largest number of investors in the stock market, are witnessing extraordinary financial turmoil with many families going bankrupt overnight, literally.
At least half a dozen national and international oil giants, including Reliance and Royal Dutch Shell, joined the race, on Friday, for acquiring government's 34 per cent stake in Hindustan Petroleum Corporation Ltd.
The Seventh Fleet's area of responsibility includes the Western Pacific and Indian Ocean and at any given time there are roughly 5070 ships and submarines, 140 aircraft and approximately 20,000 sailors under its command.
Of the roughly 200 stocks that are traded in both the spot and futures markets on the major exchanges in Mumbai, 40 have a price-earnings ratio of more than 40.
The NSE Nifty ended up 26 points at 4,286.
RIL holds 45.43 per cent stake in RIIL as its promoter.
Reliance Industries has divested its 30 per cent stake in an oil and gas block in Peru to Australia's Woodside Petroleum and Pluspetrol of Argentina to trim its overseas properties.
This is the case even though the benchmark index is only 5 per cent below its all-time high. The list of stocks trading at a discount primarily consists companies in the automotive, banking, oil and gas, insurance, healthcare, and metal sectors.
