Page 31 - Reliance Industries

Reliance wins govt approval for investment to raise KG-D6 block's output

Reliance Industries Ltd has got government approval for making additional investments in developing gas reserves in its KG-D6 block in the Bay of Bengal that can add 4 to 5 million standard cubic meters per day to the production, a company official said. Reliance and its partner bp Plc currently produce around 30 mmscmd or about 30 per cent of India's gas production, from the KG-D6 block. At an investors' call announcing the fourth quarter earnings, Sanjay Roy, senior vice-president for exploration and production at Reliance Industries Ltd, said the development plan for incremental production has been approved by the government. "One good aspect of this quarter gone by was that we had an incremental development plan approved by the government, which has the potential to deliver incremental production of 4 to 5 million standard cubic meters (per day) in the coming few years, which would augment the production that we have," he said. He, however, did not give details of the investmen

Global stocks, RIL, Gift Nifty: All you need to know before mkt opens today

Stock market preview Tuesday April 23: Gift Nifty hints at gap-up open after US market ended on a strong note. RIL, Tata Consumer, Tata Elxsi, MCX and M&M Finance in focus today.

RIL Q4 results: Profit falls 1.8% to Rs 18,951 cr, Rs 10 dividend announced

RIL's board on Monday recommended a dividend of Rs 10 per fully paid-up equity share for FY24, subject to the approval of the company's members at the ensuing annual general meeting

Reliance Industries Q4 results: Profit falls 2% to Rs 18,951 crore

Shares of Reliance Industries closed at Rs 2,962.90 on the BSE on Monday, ahead of the company's Q4FY24 results

RIL Q4FY24 preview: Top metrics that analysts will watch out for today

As of 12:10 pm, the shares were trading 0.23 per cent higher at Rs 2,948.40, as compared to S&P BSE Sensex, which was trading 0.55 per cent higher at 73,487.50 levels

Stocks to Watch on April 22: RIL, HDFC Bank, Wipro, Tata Group, Laurus Labs

Stocks to Watch on Monday, April 22, 2024: Reliance Industries, Rallis India, Mahindra Logistics, Hatsun Agro Product, and Tejas Networks will announce their March quarter earnings today

Jio Financial Services Q4 results: Net profit up 5.8% to Rs 311 crore

The total income of the entity, which is a holding company for businesses including lending, insurance broking, asset management etc., rose to Rs 418 crore in Q4FY24 from Rs 414 crore in Q4FY23

Result preview: O2C may be a dampener on Reliance Industries earnings

Street will look for updates on new energy biz commissioning schedule

Reliance Industries tries to sell US crude oil as Russian flows gain

Reliance also attempted to sell cargoes of Murban crude for April-May loading before offering the American oil, the traders said

Zee's plan to gun for growth on its own holds perils as well as promise

Analysts are waiting for a big move on the free-to-air market, either by going back on DD Freedish or by doing a big deal with YouTube, the largest video platform

RIL-Disney propels Q1 M&A activity to nearly two-year high: Report

The USD 8.5 billion merger between Reliance and Disney helped the overall deal activity in the March quarter of 2024 reach a nearly two-year high, a report said on Tuesday. The overall number of transactions, including mergers and acquisitions and private equity investments, inched up to 427 from 422 in the quarter-ago period, but the values surged by 43 per cent to USD 20.416 billion, the report by the consultancy firm Grant Thornton Bharat said. This performance is the highest in deal activity since the June quarter of 2022, the report said. The March 2024 quarter witnessed a 36 per cent drop in the number of high-value deals of over USD 100 million from 28 to 18, while billion-dollar deals registered an uptick compared to the previous quarter. There were three billion dollar deals collectively valued at over USD 12 billion, that accounted for nearly 59 per cent of the total deal values in Q1 2024, it said. The overall deals included 120 merger and acquisition transactions, whil

Stocks to Watch today: TaMo, Axis Bank, RIL, Muthoot Microfin, auto shares

Stocks to watch on Tuesday, April 09, 2024: Tata Motors JLR sales rose 11% in Q4; Bain Capital to sell balance stake in Axis Bank; FADA warns of slower retail auto sales.

Reliance Industries rally, earnings optimism propel markets to new peaks

Investors making long-term bets in hope of political stability: Analysts

Meta's first data centre to come up in Reliance's Tamil Nadu campus: Report

Currently, data from Indian Meta users is managed at its Singapore data centre, the company's only centre for the entire Asia-Pacific region

Ambani-Adani collaboration: RIL picks 26% stake in Adani Power project

In the first collaboration between rival billionaires, Mukesh Ambani's Reliance Industries has picked up a 26 per cent stake in a Madhya Pradesh power project of Gautam Adani, and signed a pact to use the plants' 500 MW of electricity for captive use. Reliance will pick up 5 crore equity shares in Mahan Energen Ltd, a wholly owned subsidiary of Adani Power Ltd, of face value Rs 10 at par (Rs 50 crore) and will use 500 MW of generation capacity for captive use, the two firms said in separate stock exchange filings. The two businessmen hailing from Gujarat have often been pitted by media and commentators against each other but they have for years tiptoed around each other to reach the top two rungs of Asia's wealth ladder. With Ambani's interests spanning oil and gas to retail and telecom and Adani's focus on infrastructure spanning sea ports to airports, coal and mining, they rarely crossed each other's path except in the clean energy business where the two have announced multi-billi

Govt reduces gas price for Reliance to $9.87; rate for CNG, PNG unchanged

The government on Sunday cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to USD 9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is used for making CNG for fuelling automobiles or piping to household kitchens for cooking purposes will remain unchanged due to a price cap that is set at 30 per cent less than market rates such as that paid to Reliance. For the six-month period starting April 1, the price of gas from deepsea and high-pressure, high-temperature (HPTP) areas has been cut to USD 9.87 per mmBtu from USD 9.96, oil ministry's Petroleum Planning and Analysis Cell (PPAC) said in a notification. This is the third straight bi-annual reduction in rates for difficult fields. Price was for six months beginning October 1, 2023 slashed 18 per cent to USD 9.96 per mmBtu from USD 12.12 for the April to ..

Mcap of 7 most valued firms climbs Rs 67,259.99 cr; Reliance top gainer

The combined market valuation of seven of the 10 most valued firms climbed Rs 67,259.99 crore in a holiday-shortened last week, with Reliance Industries emerging as the biggest gainer, amid an overall optimistic trend in equities. Last week, the BSE benchmark climbed 819.41 points or 1.12 per cent. Markets saw just three trading sessions last week, as they were closed on Monday for Holi and Good Friday on March 29. The valuation of Reliance Industries jumped Rs 45,262.59 crore to reach Rs 20,14,010.63 crore. State Bank of India added Rs 5,533.26 crore, taking its market valuation to Rs 6,71,666.29 crore. The valuation of Life Insurance Corporation of India (LIC) climbed Rs 5,218.12 crore to Rs 5,78,484.29 crore, and that of ICICI Bank advanced Rs 4,132.67 crore to Rs 7,69,542.65 crore. The market capitalisation (mcap) of HDFC Bank went up by Rs 4,029.69 crore to Rs 11,00,184.60 crore, and that of Hindustan Unilever climbed Rs 2,819.51 crore to Rs 5,32,946.04 crore. ITC added Rs

RIL invest over $125 bn in capex in last 10 years as it undertook expansion

Reliance Industries Ltd invested over USD 125 billion in the last ten years as it undertook massive expansion in hydrocarbon and telecom businesses, a report said, estimating that the conglomerate's investments in the next three years would be in relatively less capex-heavy retail and upstream new energy. Reliance is coming out of a series of long and intensive capex cycles (hydrocarbons and telecom). "The company has invested nearly USD 30 billion between FY13-18 to increase scale, integration and cost competitiveness of the O2C (oil to chemical) business, and close to USD 60 billion between FY13-24E in 4G/5G capabilities to create a high-growth telecom business," Goldman Sachs said in a deep dive report on Reliance. With the pan-India 5G rollout now likely completed and potential telecom tariff hikes ahead, it expected the telecom business to become a strong free-cash-flow (FCF) generation business alongside current cash cow O2C (which comprises its mega oil refinery and ...

Businesses have responsibility to build strong, inclusive India: Ambani

Richest Indian Mukesh Ambani on Saturday said the business community has the responsibility to build a stronger and more inclusive India. Addressing an event organised by the Gems and Jewellery Exports Promotion (GJEPC) here, the chairman and managing director of Reliance Industries also exuded confidence that the industry will reach its goal of touching USD 100 billion in exports in the next few decades. "All of us collectively in the business community have a responsibility to build a stronger, better and more inclusive India to fulfil the vision and the goal that our PM has set for us, that of a Viksit Bharat, a fully developed India in the next decades," he said. Ambani congratulated the gems and diamonds industry for the work they have done over the past few decades to reach USD 40 billion in exports and create over 50 lakh jobs in the country. From modest beginnings, the industry led by people from Palanpur made big strides, Ambani said, stressing that he is "proud" of the ...

Jio Fin's arm invests Rs 2.5 cr in Reliance International Leasing IFSC Ltd

Jio Financial Services on Thursday said its subsidiary Jio Leasing Services and its nominees have made an initial investment of Rs 2.50 crore in newly-incorporated Reliance International Leasing IFSC Ltd (RILIL). Incorporated on February 1, RILIL is a 50:50 joint venture between Jio Leasing and Reliance Strategic Business Ventures Ltd, an arm of Reliance Industries. "Jio Leasing Services Ltd (JLSL)... along with its nominees invested an amount of Rs 2.50 crore towards the initial subscription of 25 lakh equity shares of Rs 10 each of RILIL, for cash at par," Jio Financial Services said in a BSE filing. JLSL is a subsidiary of Jio Financial. RILIL will be engaged in the business of operating lease of ships, vessels and voyage charters in International Financial Services Centre (IFSC) located at International Finance Tec-City (GIFT City), Special Economic Zone (SEZ), Gujarat. Shares of Jio Financial Services were trading Rs 355.70, up 1.50 per cent from previous close on the BSE.