NTPC was to open letter of credit in favour of RIL for an amount equivalent to a month's supplies.
A CBI team on Friday visited office of oil regulator V K Sibal to check records following charges of his receiving favours from Mukesh Ambani-led RIL to approve an inflated expenditure for gas field, a charge denied by him.
Mukesh Ambani group firm Reliance Industries on Wednesday said it will issue one bonus share for every share held in the company.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
RIL on Friday declared a net profit of Rs 20,040 crore (Rs 200.4 billion) for the 2011-12, a marginal drop from the Rs 20,286 crore (Rs 202.86 billion) it made in 2010-11.
Reliance industries on Monday increased diesel prices by Rs 2 per litre.
The Competition Commission of India (CCI) on Tuesday said it has approved Reliance Retail Venture's acquisition of German firm Metro AG's wholesale operations in India. Reliance Retail Ventures Ltd (RRVL) is a subsidiary of Reliance Industries Ltd (RIL) while Metro Cash & Carry India is engaged in the wholesale operations in India. In December last year, it was announced that RRVL had signed definitive agreements to acquire a 100 per cent equity stake in the company for a total cash consideration of Rs 2,850 crore.
A bench headed by Chief Justice P Sathasivam sought response from the Centre and RIL on a PIL filed by Communist Party of India Member of Parliament Gurudas Dasgupta who alleged that no due diligence was done by the government while increasing the price of natural gas.
Mustang's work for the KG-D6 Development (plan) was based on all available information and performed in an independent manner in October/November 2007," Woods Group -- the parent firm of the engineering consultancy firm -- said in an e-mailed statement from Houston. Anil Ambani group, fighting a legal battle to source gas from RIL's KG-D6 fields at less than market price, had stated the Mustang was not the best to validate because it had carried out separate work.
Terming as 'malicious, baseless, mischievous and ill-informed' the advertisement propaganda by Anil Ambani Group on its gas field capex, Reliance Industries has stated that the development cost was the lowest in the world and compares favourably to any other project in India.
Lok Sabha MP Harsh Vardhan on July 23 wrote to Petroleum Minister Murli Deora asking why the government had kept quiet for all this while on the Ambani family MoU that provides for dividing Krishna-Godavari basin gas between companies run by brothers Mukesh and Anil.
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.
As a situation similar to the game of musical chairs continued for yet another day, Infosys slipped to the second position after RIL in terms of their weightage on the Indian stock market's barometer index, the Sensex.
Reliance Industries on Friday dubbed as a "canard" allegations that the near-doubling of natural gas prices will lead to a similar hike in domestic cooking gas (LPG) and inflation in food item rates.
Reliance Industries Ltd will give Rs 750 crore (Rs 7.5 billion) discount on LPG and kerosene to public sector petro retailers in 2005-06.
Moving closer to demerger of power, telecom and financial businesses from it, Reliance Industries on Thursday invited notices in support or against the demerger petition, which would come up for hearing in the Bombay High Court on November 25.
Market players were cautious over Reliance Industries on Wednesday following reports that Sebi has asked CBI to probe into UTI's subscription to the company's debenture issue.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
BP Plc, Europe's second biggest oil company, and Reliance Industries will invest $5 billion in developing untapped gas reserves in the KG-D6 block, aimed at reversing the fall in gas production, RIL statement said on Tuesday.
Reliance Industries on Monday clarified that the company made purchases from Iraqi crude oil suppliers at the then prevailing international prices and no other payments were involved in these purchases.
The company is irked over not being granted the promised drilling moratorium to cover for the acute shortage of rigs.
It reported a record net profit of Rs 36,075 crore for the 2017-18 fiscal, up 20.6 per cent.
Reliance Industries on Wednesday decided to double the production capacity at its Jamnagar Refinery to 60 million tonnes at an investment of Rs 25,000 crore (Rs 250 billion).
Three business houses are likely to be in the final race to strike a deal with Germany's Metro AG for investing in its India unit -- Metro Cash & Carry. Industry sources in the know named Reliance, Adani Group, and Thailand's conglomerate Charoen Pokphand (CP) as potential frontrunners to acquire a partial or full stake in the Gurugram-headquartered Metro Cash & Carry, which has 31 stores and 5,000 direct employees. Around 20 companies, including strategic and private equity investors, were approached by the German chain, inviting them to bid for the Indian wholesale business, according to a source aware of the M&A developments.
Reliance will also announce its third quarter results on the same day.
Bajaj Finance was the top loser in the Sensex pack, shedding around 3 per cent, followed by Bajaj Finserv, Reliance Industries, M&M, Nestle India and SBI. On the other hand, Axis Bank, Tech Mahindra, PowerGrid and Maruti were among the gainers.
NTPC is fighting a case in the Bombay high court to get gas from RIL at a committed price of $2.34 per mmBtu.
Reliance Industries on Friday said that it has made a sixth oil discovery in the Gujarat block, but did not give the reserves that the latest find may hold.
Replying to a calling-attention motion in Rajya Sabha, oil minister Murli Deora said the $4.2 per million British thermal unit price fixed for gas produced from KG-D6 fields of RIL was lower than the average of $5.51 per mmBtu charged by UK's BG-led consortium for Panna/Mukta and Tapti gas. It was also lower than the $4.3 per mmBtu price of gas produced from Cairn's Ravva Satellite fields and $4.75 per mmBtu for the UK firm's Lakshmi fields.
Reliance Industries Ltd -on Saturday authorised its board committee to suggest a 'suitable scheme' of reorganisation in the wake of the settlement of ownership issues between the Ambanis.
Mukesh Ambani-promoted Reliance Industries will lose around $1 billion (Rs 4,300 crore) a year if it sells gas to the Anil Ambani's Reliance Natural Resources at the agreed price of $2.34 per million British thermal unit
Reflecting the differences with elder brother Mukesh on buyback of shares by flagship company Reliance Industries, Anil Ambani on Wednesday said he had proposed that 12 per cent equity in RIL held by the Petroleum Trust and four companies be distribu
Mukesh Ambani controlled Reliance Industries fears that gas supplied to Reliance Natural Resources, belonging to younger brother Anil Ambani, would be traded to a third party as RNRL does not have a power plant, said Harish Salve, the legal counsel of RIL.
US energy major Chevron may pick up a stake in the Reliance Industries' upcoming Rs 27,000 crore
Revenue jumped 54.5 per cent to Rs 156,291 crore.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
Reliance Industries has posted good growth in Q1 of the current financial year.
But RIL is yet to agree on the grounds that it is studying the implication of the judgement. On June 15, the Bombay high court gave the two companies a month's time to work out a firm gas volumes, price, timelines and other commercial details for sourcing the fuel from Krishna Godavari basin fields.
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