He urged every investor to follow his steps and invest in Gujarat.
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.
"The way in which UP has controlled the second Covid wave and stopped its spread is unprecedented," the prime minister, who arrived at his parliamentary constituency earlier in the morning on Thursday, said while addressing a gathering.
Latest in generational change trend in South Indian majors.
HR Guru Mayank Rautela offers practical advice.
According to sources, Russian energy giant Rosneft or its affiliates, Saudi Aramco and Reliance Industries are in race for BPCL's three refineries - Mumbai, Kochi in Kerala and Bina in Madhya Pradesh - 16,309 petrol pumps, 6,113 LPG distributor agencies and more than a fifth of 256 aviation fuel stations in the country.
Dilip Shanghvi's Sun Oil & Natural Gas, signed a deal for the transfer of Interlink Petroleum's interest in the Modhera and Baola fields.
Moody's said together, proceeds from these transactions will result in a $ 16 billion reduction in RIL's net debt.
Reliance Industries Ltd has decided not to use its allocation of gas from the Krishna-Godavari basin's D6 field for petrochemical production; it will, instead, swap it with gas available from other sources. It will use D6 gas only for power generation.
Reliance Industries, the largest Indian private company, is in talks with Brazilian energy giant Petroleo Brasileiro (Petrobras) to set up two petrochemical joint ventures, sources close to the development said. Both greenfield projects will require a total investment of around $6 billion (nearly Rs 25,800 crore).
India has evinced interest in building refineries and petrochemical plants in Iraq and is keen to source liquefied natural gas (LNG) from its second largest oil supplier.
On an average most commodities are up between 20-30 per cent compared to a year ago levels.
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.
The board of GAIL India, the country's largest transporter and marketer of natural gas, on Wednesday approved a proposal to pick up to 19 per cent stake in Oil and Natural Gas Corporation's (ONGC) petrochemical project in Gujarat.
'The steel and petrochemical industries are oxygen guzzlers and diverting oxygen from there can meet hospitals' requirements'
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.
The 12-year loan will part finance the proposed expansion of RIL's petrochemical plants and setting up of new gasification unit and refinery off-gas cracker over the next 2-3 years.
The old guard is still involved in broad corporate decision-making, but quite a few new business heads have started making their mark at the group
A deal with the Assam government, which holds majority stake in the company through Assam Industrial Development Corporation Ltd, is likely by October.
Project, infrastructure sector emerged as the top employment generator in March with 12 per cent rise in demand while petrochemicals industry reported 9 per cent growth.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Bankers of HPL too have endorsed the idea and are pitching hard for the chairmanship of Chatterjee.
ONGC demands certain incentives from the Andhra Pradesh government to go ahead with the Kakinada refinery project
Kuwait Petroleum Corporation (KPC) is in talks with Reliance Industries and Indian Oil Corporation for investing in refineries and petrochemical plants in the country.
The boost from treasury income has helped RIL juice up its earnings at a time when the margins in its core refining & petrochemicals business are running low.
Over a third of Ambani's speech was focussed on RIL's plans.
There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
The Delhi high court on Tuesday said that economic interests cannot override human lives and in view of various hospitals in the national capital running low on oxygen, the Centre should immediately implement the ban on industrial use of oxygen instead of waiting till April 22.
SAPL intends to start a new manufacturing facility in Damietta in Egypt with an installed capacity of 315,000 tonnes a year.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
Even when large businesses said they were flying blind in mid-2020, the markets rallied and an incredible business boom followed. This is not to say that the markets will continue to rally and there is nothing to worry about, observes Debashis Basu.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
Anmol Ambani, the eldest son of industrialist Anil Ambani, has lashed out against a new round of lockdowns being imposed amid the surge in COVID-19 cases, saying such restrictions do not concern health but control and that they destroy the very backbone of the society and economy. The 29-year-old former executive director of Reliance Capital Ltd in a series of tweets lambasted the new semi-lockdown rules hurting small businesses and daily wage earners. "Professional 'actors' can continue shooting their films. Professional 'cricketers' can play their sport late into the night. Professional 'politicians' can continue their rallies with masses of people. But YOUR business or work is not ESSENTIAL. Still don't get it?" he said in a tweet.
RIL might see its September quarter's profit between Rs 5,600 crore and Rs 5,670 crore.
Mukesh Ambani Group-controlled Indian Petrochemicals Corporation Ltd said on Friday there would be no change in its management post amalgamation of its subsidiaries with itself.
Government said on Tuesday it was commited to Oil and Natural Gas Corporation's mega investment plans in petrochemical projects and special economic zone at Mangalore and there was no going back on it.
Jio Platforms is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart.
Larsen and Toubro Ltd said on Monday it has bagged Rs 800-crore (Rs 8 billion) contract from Reliance Industries Ltd for construction services and supply of electrical systems for its SEZ refinery and petrochemical project in Jamnagar, Gujarat.
