Page 110 - Reliance Industries

Reliance's proposed business reorganisation credit neutral: Fitch

Fitch Ratings said on Tuesday the proposed reorganisation plan by Reliance Industries Ltd (RIL) to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary as a step towards facilitating participation by strategic investors in its O2C businesses."We anticipate the reorganisation will have a neutral impact on RIL's credit metrics and rating," it said.The transfer will be on a slump sale basis subject to attaining the requisite approvals. The consideration for transfer will be in the form of long-term interest-bearing debt of 25 billion dollars to be issued by O2C to RIL.RIL's external debt is proposed to remain with RIL only. As RIL moves its oil refining, petrochemical and 51 per cent stake in a fuel retail subsidiary -- among other businesses -- to O2C, it will continue to hold businesses like textiles and upstream oil & gas, and will act as an incubator for new growth businesses.The proposed reorganisation eases formation of

Top headlines: RIL to spin off O2C biz; Airtel, Qualcomm tie up in 5G boost

Former Trai chief Rahul Khullar passed away Tuesday morning, Amazon India has partnered with Mahindra Electric to add more electric vehicles to its fleet, and other top news of the day

Chart check: Will the O2C biz spin-off trigger a fresh rally in RIL stock?

A breakout above Rs 2,100 in RIL's counter may see a rally towards 2,400

Reliance Industries gains 2% on plans to hive off O2C business

The company said the O2C business will be turned into a separate entity that will be 100 per cent owned by RIL

Reliance to hive off O2C business, expects approvals by September quarter

The Mukesh Ambani-controlled company had initiated the process to hive off its oil-to-chemicals business at a time when the Covid-19 pandemic caused a slump in fuel demand

Stocks to watch: RIL, Bharat Forge, Vedanta, Airtel, HDFC Bank, Hindalco

RIL, in a late night filing, said that it has begun the process of carving out the O2C business into an independent subsidiary

SC bars NCLT from finalising orders allowing $3.4 bn Future-Reliance deal

A bench headed by Justice Rohinton Nariman also ordered that while the proceedings before NCLT can go on, they should not culminate in any final order of sanction of the scheme

Supreme Court halts Future Group's $3.4 billion deal on Amazon plea

Agreeing with the American e-commerce giant's petition, the top court on Monday overturned a lower court's ruling and stopped India's company tribunal from approving the transaction till further order

Indian shares fall for fifth session as financials, Reliance weigh

The NSE Nifty 50 index .NSEI was down 0.68% to 14,880.75 by 0454 GMT, while the S&P BSE Sensex .BSESN was 0.85% lower at 50,446.43

Enforcement Directorate intensifies Amazon probe, govt seeks info

This follows report claiming e-commerce giant dodged Indian regulations

Flipkart is positioned to win India's e-commerce future: Walmart's McKenna

Flipkart saw more than 250 mn customers over a 5-day period during its flagship 'Big Billion Day' sale event, and PhonePe reached milestone of 1 billion monthly payment transactions, McKenna said

Bharti Airtel buys Warburg Pincus' 20% stake in DTH arm for Rs 3,126 crore

Airtel, which is locked in a fierce competition with Reliance Jio in the telecom space, aims to align the ownership of its consumer-facing businesses, with the Warburg Pincus transaction

Future says Amazon asked for $40mn as compensation for RIL deal

E-commerce major Amazon termed the charges as "false and misleading claims"

Top headlines: Future Group readies for SC battle, WPI inflation rises

Indians return to shopping and Supreme Court serves notice to Facebook, WhatsApp, and the government over user privacy. Those stories and more in our headlines this evening.

ONGC takes leaf out of Reliance's book, floats subsidiary to buy own gas

ONGC may use the new subsidiary to buy any new gas that the firm produces from fields such as KG-D5 in the Krishna Godavari basin, people with direct knowledge of the matter said

Domestic mutual funds trim holdings in Reliance Industries, Infosys

This was in a month when the benchmark Sensex retreated 3 per cent

NCLT raps Amazon in Future case: Don't be a 'perpetual objector'

Says it has no locus standi in Future's plea to hold shareholder meeting; reserves order

RIL, Infosys, Airtel: MFs trim stake in index heavyweights in January

Reliance Industries, Infosys, Bharti Airtel, Power Grid and Tata Consultancy Services are some of the stocks mutual funds cashed out of last month

Rising global crude oil prices may spoil D-Street party, say experts

Brent Crude has surged more than 60 per cent since November, crossing $61 a barrel for the first time in 13 months

Amazon moves SC challenging Delhi HC order on Future-Reliance deal

The e-commerce giant has contended that the Division Bench order is illegal, and arbitrary apart from being without jurisdiction