Page 38 - Reliance Industries

Disney, Reliance sign pre-deal agreement, mega-merger to be done by Feb

The 51:49 stock-and-cash consolidation in favour of RIL is expected to wrap up by February. Disney and Reliance are also likely to inject cash as capital investment

M-cap of 3 of most valued firms jump Rs 70,312 cr; Reliance biggest winner

The combined market valuation of three of the 10 most valued firms jumped Rs 70,312.7 crore last week, with Reliance Industries emerging as the biggest winner, amid volatile market conditions. From the top 10 pack, Reliance Industries, HDFC Bank and Hindustan Unilever were the gainers, while Tata Consultancy Services (TCS), ICICI Bank, Infosys, State Bank of India, ITC, Bharti Airtel and Life Insurance Corporation of India (LIC) faced erosion to the tune of Rs 68,783.2 crore. Last week, the BSE benchmark declined 376.79 points or 0.52 per cent after a record-breaking rally. The market valuation of Reliance Industries jumped Rs 47,021.59 crore to Rs 17,35,194.85 crore. Hindustan Unilever added Rs 12,241.37 crore, taking its valuation to Rs 6,05,043.25 crore. HDFC Bank's valuation climbed Rs 11,049.74 crore to Rs 12,68,143.20 crore. However, the market capitalisation (mcap) of ICICI Bank plummeted Rs 30,235.29 crore to Rs 6,97,095.53 crore. The valuation of TCS eroded by Rs 12,715

Luxury renaissance: All that made 2023 a year of opulence and achievement

The country set new benchmarks in the luxury sector this year, attracting the world's top brands and exporting the finest

NCLT approves resolution plan for Reliance Communications Infrastructure

Last week, the NCLT gave its approval for the sale of specific real estate properties of Reliance Communications Limited

Reliance continues to be India's most visible corporate in media: Wizikey

Reliance Industries Ltd, India's largest corporation by revenues, profits and market value, topped the 2023 Wizikey News Source ranking as India's most visible corporate in the media. State Bank of India (SBI) is a distant second on the ranking, followed by HDFC Bank, ICICI Bank and Bharti Airtel Ltd, according to Wizikey's News Score Report. The Wizikey's News Score is the industry's first integrated metric that measures news visibility. The score is determined by the volume of news, headline presence, reach of publications, and readership. Reliance has continued to top the Wizikey News Score annual rankings since its inception for each of the last four years. Most importantly, Reliance has improved its News Score year after year. For its No.1 position Reliance has a News Score of 96.46 for 2023. It was 92.56 for 2022, which was a marked improvement from its News Score of 84.9 in 2021. Monthly analysis showed that RIL's News Score was above 98 for 3 out of the last 6 months from

Reliance Industries pays Rs 254 crore license fee to Metro to use its name

Metro AG clarified in its latest annual report that the payment is part of the transitional services and licences provided by Metro AG

Telecom Bill 2023: GMPC players may get spectrum at administered price

As the government tables the Telecommunications Bill, 2023 in Lok Sabha, the move is seen as a big win for Sunil Mittal's OneWeb, which had been pushing for the same

Reliance Industries's green energy equipment business intrigues analysts

Company plans to invest Rs75,000 crore to build new energy ecosystem

Reliance biggest wealth creator, Adani Ent top all-round creator: Study

Reliance Industries Ltd was the biggest wealth creator during the five-year period from 2018 to 2023 while Adani Enterprises Ltd was the top all-round wealth creator, according to a study by Motilal Oswal Financial Services. The study, based on stock market performance of companies, said for the fifth time in succession, Reliance emerged as the largest wealth creator, adding Rs 9,63,800 crore wealth over 2018-23. It was followed by Tata Consultancy Services (Rs 6,77,400 crore wealth addition), ICICI Bank (Rs 4,15,500 crore), Infosys (Rs 3,61,800 crore) and Bharti Airtel (Rs 2,80,800 crore). "A low-profile company, Lloyds Metals, has emerged the fastest wealth creator with 2018-23 price CAGR of 79 per cent," it said. Adani Enterprises Ltd, the flagship incubator firm of the Adani Group, is a close second with a CAGR of 78 per cent. It said Rs 10 lakh invested in 2018 in the top 10 fastest wealth creators would be worth Rs 1 crore in 2023, a return CAGR of 59 per cent. Motilal said

Disney-Reliance entertainment biz deal may be beset with antitrust issues

If a deal was struck, it would be the second to seismically reshape India's TV and streaming landscape as Japan's Sony also plans to merge its India business with India's Zee Entertainment

Petroleum Ministry has given nod to import Venezuelan crude: Officials

Puri says India open to importing from any country not under sanctions

Disney-Reliance merger may be beset with antitrust headaches: Experts

One key area of regulatory scrutiny for a Disney-Reliance merger would be their streaming businesses and their power over advertising during cricket

Lanco Amarkantak Power creditors to vote on Adani Power's Rs 4,100 cr bid

An unsolicited bid of Rs 3,650 crore was submitted by Adani Power, which was later improved to Rs 4,100 crore

Stock markets settle marginally higher on late buying; L-T, RIL advance

Benchmark equity indices Sensex and Nifty eked out gains on Wednesday following late buying in capital goods, auto and energy shares as investors adopted a cautious approach ahead of the US Fed interest rate decision to be announced later in the day. The 30-share BSE Sensex advanced 33.57 points or 0.05 per cent to settle at 69,584.60, driven by late buying. During the day, it fell 450.47 points or 0.64 per cent to 69,100.56. The Nifty gained 19.95 points or 0.10 per cent to 20,926.35. Among the Sensex firms, NTPC, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Sun Pharma, State Bank of India, Titan and Tata Steel were the major gainers. Tata Consultancy Services, Infosys, Axis Bank, Bajaj Finserv, UltraTech Cement and Bajaj Finance were the major laggards. In Asian markets, Seoul, Shanghai and Hong Kong settled lower while Tokyo ended in the positive territory. European markets were trading with gains. The US markets ended in the positive territory on Tuesday. Global oil ..

Disney, Reliance plan London meeting for India media merger talks: Report

Disney and Reliance have held talks to merge their India businesses by forming a joint venture company in which Ambani's media unit would hold a majority stake

Moody's affirms Reliance Industries' Baa2 ratings, outlook stable

Reliance Industries Ltd's consumer businesses of retail and telecom will support EBITDA growth over the next two years even as earnings from oil and gas business are likely to remain flat, Moody's Investors Service said as it affirmed the company's Baa2 rating. Moody's has also maintained a stable outlook owing to the expectation that the company's earnings will continue to grow across most of its business segments, such that consolidated credit metrics will remain solidly positioned for its ratings over the next 12-18 months. "The affirmation of RIL's Baa2 ratings reflects the company's large scale and leading market position across its diverse businesses as well as management's strong execution track record," says Sweta Patodia, Moody's Assistant Vice President and Analyst. "The rating affirmation also reflects our expectation that continued earnings growth will keep RIL's credit metrics strongly positioned for its current ratings despite high ongoing capital spending," adds ...

SAT quashes Sebi's Rs 7 lakh fine against RIL's Jio Financial Services

The Securities Appellate Tribunal (SAT) on Wednesday quashed a Sebi order imposing a penalty of Rs 7 lakh on Jio Financial Services Ltd in case of alleged manipulation in certain trades in long-dated Nifty options in 2017. Earlier this year, Reliance Industries Ltd (RIL) demerged its financial services undertaking into Reliance Strategic Investments Ltd (RSIL) and renamed it as Jio Financial Services Ltd (JFSL) -- formerly known as Reliance Strategic Investments Ltd. The case pertains to certain trades in long-dated Nifty options between Reliance Strategic Investments and Morgan Stanley France SA done back in 2017. The order came after the Reliance group company approached the appellate tribunal against an order passed by Securities and Exchange Board of India (Sebi) in June 2017. In the order, the regulator levied a fine of Rs 7 lakh on the company. Setting aside the Sebi's order, a bench consisting of Justice Tarun Agarwala and Presiding Officer Meera Swarup, said the regulator h

RIL, Brookfield Infra, Digital Realty set up data centre joint venture

Reliance Industries, infrastructure firm Brookfield Infrastructure and Digital Realty have concluded a transaction to set up a three-way joint venture for data centre services, an official statement said on Tuesday. The three companies entered into an agreement in July 2023 to invest in their existing special purpose vehicle Digital Connexion for developing data centres in India. "With this announcement, the joint venture will assume a new identity as Digital Connexion: A Brookfield, Jio and Digital Realty Company succeeding and building on the strong foundation laid by BAM Digital Realty," Digital Connexion said in a statement. The transaction will result in the three companies becoming equal shareholders, with each owning a one-third (33.33 per cent) stake in the joint venture. "The joint venture is actively progressing the development of strategically located data centres in Chennai and Mumbai. Its flagship greenfield data centre, MAA10, with 20 megawatts (MW) of IT load capacit

Disney, Reliance Industries close in on deal to merge India media ops

Plans for a step-down subsidiary of RIL's Viacom18 are being floated to absorb Star India through a stock swap

Rajiv Jain-led GQG's $10 billion India bet has winning picks beyond Adani

The value of India investments across six of GQG's funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg