The legal battle for control of Haldia Petrochemicals Ltd took a new twist on Wednesday when The Chatterjee Group contended before the Company Law Board that 15.5 crore (Rs 155 million) shares of the company were unaccounted for.
Reliance Industries on Thursday took to social media to refute allegations of receiving favours from a Gujarat minister who is related to company promoter Mukesh Ambani, saying that the allegations are baseless and politically motivated.
With the latest spectrum acquisition, the telecom venture would be the holder of the largest quantum of liberalised spectrum.
The government on Friday formally cleared Reliance Industries' Rs 16,000 crore (Rs 160 billion) petrochemical special economic zone, which would come up near the company's Jamnagar refinery.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
Indian oil and petrochemical company Reliance Industries is considering oil sector acquisitions in Europe and the United States and a possible listing in New York or London, a senior executive said on Tuesday.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Tata Sons stake in the group's listed companies is now worth Rs 9.28 trillion, up 34.4 per cent on a year-on-year (YoY) basis. In comparison, the Government of India's stake in listed central public sector undertakings (PSUs) is currently valued at Rs 9.24 trillion
Tata group chairman Ratan Tata on Tuesday came out in support of the West Bengal government for offering shares of Haldia Petrochemicals Limited to state-owned Indian Oil Corporation -- a decision contested by HPL's principal promoter, the Chatterjee
E&P surprises in the quarter; analysts expect the gains from higher output and prices to reflect in coming quarters.
With economic activities gathering pace post easing of lockdowns across the country, hiring activities in most sectors have shown significant recovery in October over the previous month, says a report. On yearly basis, however, the overall hiring was down by 17 per cent in October, according to the Naukri JobSpeak Index for October' 2020.
This year's list includes 40 influential people under 40 years of age in five categories -- finance, technology, healthcare, government and politics, and media and entertainment.
Chances are the logo would get even more colourful as its steps into new areas going forward.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
We take a look at India's major imports and exports with Japan in recent years.
A tough initial lockdown was imposed beginning March 25 but dreams of a V-shaped recovery after it was eased in May have been obliterated by a surge in cases and new lockdowns.
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Three PSUs, three private firms join bid to acquire 40% stake in Haldia Petrochem.
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
RIL's December quarter performance is likely to be muted
The Cabinet Committee on Economic Affairs at its meeting this morning approved the project, official sources said.
The low-profile chief of Deepak Fertilisers on Wednesday bought 24.46% shareholding in MCF.
Profit from its retail business jumped 77 per cent to Rs 1,923 crore and that from telecom rose by 78.3 per cent to Rs 2,665 crore.
Villager are treating the project as a 'golden goose' and are demanding huge compensation for their land.
The capital market regulator has accused Reliance Petroinvestments of buying shares of Indian Petrochemicals Corp Ltd in early 2007 just before it declared an interim dividend and announced the merger of IPCL with RIL.
IOC has been forced to shut down its Digboi refinery in Assam and is operating Guwahati unit at minimal throughput, while OIL has been forced to shut LPG production and its crude oil production has dropped by 15-20%. Sources said the agitation has blocked the movement of tankers and trucks, which are mostly used to supply petrol, diesel and LPG from the refineries to different parts of the North East.
Rising cost of credit and infrastructure bottlenecks are hurting the export sector, says Rafeeque Ahmed, President, Federation of Indian Export Organisations.
A large part of this investment, about Rs 5,000 crore (Rs 50 billion), would go to the Paradip refinery
