Page 149 - Reliance Industries

RIL acquires 73% stake in AI-based education technology provider Embibe

Reliance Industries Limited today said it has completed acquisition of close to 73 per cent stake in artificial intelligence-based education technology provider Embibe. "RIL, Embibe and the other stakeholders have completed all the closing conditions and have successfully completed the sale and purchase of the shareholding of the existing investors in Embibe to RIL. With this transaction, RIL will hold 72.69 per cent (on fully diluted basis) in Embibe," RIL said in a BSE filing. RIL in April had announced that it has entered into agreements to acquire close to 73 per cent stake in education technology provider Individual Learning Private Ltd (Embibe) and plans to invest USD 180 million into the company over the next three years. Embibe will use the capital over the next three years towards deepening its R&D on AI in education, as well as business growth and geographic expansion, catering to students across K-12, higher education, professional skilling, vernacular languages and ...

With an eye on $33 bn debt pile, RIL making room to add $3 bn to borrowings

The retail-to-refining conglomerate's debt has tripled over five years

Reliance aims to make consumer biz as big as its core energy operations

In May, Reliance announced that Jio posted its second straight quarterly net profit since its launch in September 2016

Reliance Industries rises for the eighth straight trading day

The stock moved higher by 1.5% to Rs 986, rebounding 2.6% from its intra-day low today, rallied 7.5% in past eight trading days, as compared to 1.3% rise in the S&P BSE Sensex.

Reliance to halt oil imports from Iran

Reliance to halt oil imports from Iran,in a sign that new US sanctions are forcing buyers to shun oil purchases from Tehran.

RIL's long-term foreign-currency rating at BBB-, with stable outlook: Fitch

Reliance Industries (RIL) also benefits from its dominant market position in the petrochemical business, driven by its integrated business model with minimal presence in upstream

Reliance Industries hits record high ahead of March quarter results

RIL hit a record high of Rs 1,000, up 2.5% on the BSE in early morning trade, surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal.

Reliance Industries to buy 73% stake in AI-based edutech firm Embibe

The Founder and Chief Executive of Embibe, Aditi Avasthi, will continue in her leadership role to drive the growth of the business

RIL sells few assets in Eagle Ford Shale in US for $100 million

The assets being sold, the company said, were not part of near term development plan of the Joint Development

Reliance Industries to acquire 65% stake in IFC for Rs 11.05 bn

The remaining 35% of IFC continues to be held by the Maker Group

Reliance to invest Rs 25 bn in Assam, create 80,000 jobs over next 3 years

Under this programme, the company will enhance its retail division's outlet to 40 from existing two

Govt nod to RIL, BP acquiring Niko's stake in gas block in Bay of Bengal

RIL is the operator of the block with 60% interest while BP of the UK has the remaining 30% stake

RIL to sign pact with Israeli big data and smart city tech provider

The tie-up with mPrest will help RIL's energy business, as well as Jio, its telecom business

RIL's Mukesh Ambani in talks to buy out Jai Corp's 24% stake in NMSEZ

Mumbai, 10 JanuaryReliance Industries Chairman Mukesh Ambani, through his personal investment firms, is in talks to buy out BSE-listed Jai Corp's 24 per cent stake in Navi Mumbai Special Economic Zone (NMSEZ). If the deal goes through, Ambani will be the largest shareholder of the NMSEZ with a 48.1 per cent stake.Last week, the NMSEZ project received the go-ahead from the Maharashtra government-owned City and Industrial Development Corporation (Cidco) for its conversion into an industrial city. Dronagiri Infrastructure, a company jointly promoted by Ambani, Jai Corp, and SKIL Infrastructure, owns a 74 per cent stake in the NMSEZ, while Cidco owns the rest. Based on Dronagiri's shareholding, Ambani and Jai Corp have an effective shareholding of 24.05 per cent each, and SKIL owns 25.9 per cent. The project has been stalled for the past 14 years and would require a clearance from the Maharashtra Cabinet for the change of end-use of land. According to Cidco, the project already has ...

2018 holds better prospects for RIL

Subscriber additions, expansions have translated into earnings upgrades

Reliance Industries plans to be among top 20 global firms

Mukesh Ambani set five aims for the company and said he expected the young generation of RIL to make these a reality

The Moody's effect: RIL raises $800 mn at lowest rate ever for 10-yr bonds

Reliance Industries today said it has raised USD 800 million by selling 10-year bonds - the first offering since Moody's raised India's sovereign rating. The bonds were priced at 3.66 per cent, the lowest coupon ever achieved by an Indian corporate for a 10-year issuance, the company said in a statement. RIL, which is rated the same as the sovereign, will use the proceeds to refinance existing debt. This was the first dollar note this year. The note by RIL, India's largest company, was assigned 'BBB+' rating by S&P and 'Baa2' by Moody's Investors Service. "The notes have been priced at 130 basis points over the 10-year US Treasury Note, at a price of 100 to yield at 3.667 per cent," the statement said. They will bear fixed interest of 3.66 per cent per annum, with interest payable semi-annually in arrears and shall rank pari passu with all other unsecured and unsubordinated obligations of the company. This, RIL said, was the tightest ever spread over US Treasury for

Reliance Industries hits forex debt market again with $800-mn issue

RIL has been borrowing heavily for expansion and entry into telecom space with Jio into which it has invested over Rs 1.4 lakh cr

Eight of 10 top valued firms add Rs 86,932 cr in m-cap; Airtel top gainer

Only two companies, ITC and HUL, recorded losses in their market valuation in the week

RIL awards R-Series gas field contract in KG-D6 to McDermott

R-Series is one of three sets of discoveries in eastern offshore KG-D6 block that RIL and its partner BP plc of UK are working to bring to production by 2021-22 to reverse declining trend in output