Page 44 - Reliance Industries

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

Nomura hikes India exposure; M&M, Fortis, UNO Minda among favourites

Reliance Industries is Nomura's biggest exposure where the research and broking house has a 4.5 per cent weight

TMS Ep578: Pre-election rally, JSW, Reliance & Tata e-commerce, My Lord

Will Assembly poll outcome trigger a pre-election market rally? What's behind JSW's entry in auto sector? Why're Reliance & Tata struggling in e-commerce? Why are judges called 'My Lord'? Answers here

SAT quashes Sebi's order against Mukesh Ambani, 2 others in RPL case

Matter pertains to alleged manipulative trading in November 2007

Indian refiners resume imports of Venezuelan oil, RIL seeks direct deal

But Venezuela's oil output has been volatile, limiting what it can offer for exports

IOC corners more than a third of D6 gas in latest Reliance auction

State-owned Indian Oil Corporation (IOC) has cornered more than a third of natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the KG-D6 gas, sources said. IOC got 1.45 million standard cubic meters per day out of the 4 mmscmd of gas auctioned last week. The oil refining and marketing company, which was the top bidder even in the previous two auctions of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes as an aggregator on behalf of fertilizer plants. City gas companies including Torrent Gas and Gujarat Gas secured a total of 2.21 mmscmd of gas for turning into CNG for sale to automobiles and piped to household kitchens for cooking purposes, two sources with direct knowledge of the matter said. Gujarat Gas won the tender to buy 0.5 mmscmd, Torrent Gas 0.45 mmscmd, Adani Total Gas Ltd 0.29 mmscmd, IndianOil-Adani Gas Pvt Ltd 0.17 mmscmd and Indraprastha Gas Ltd and Mahanagar Gas Ltd 0.30 mmscmd each, they ...

M-cap of 4 of 10 valued firms rise Rs 65,671 cr; Reliance biggest winner

The combined market valuation of four of the top-10 most-valued firms climbed Rs 65,671.35 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 175.31 points, or 0.26 per cent. While Reliance Industries, HDFC Bank, ICICI Bank, and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), Infosys, Hindustan Unilever, ITC, State Bank of India, and Bajaj Finance faced erosion in valuation. The market valuation of Reliance Industries jumped Rs 26,014.36 crore to reach Rs 16,19,907.39 crore. HDFC Bank added Rs 20,490.9 crore, taking its valuation to Rs 11,62,706.71 crore. The market valuation of Bharti Airtel rose Rs 14,135.21 crore to Rs 5,46,720.84 crore , while that of ICICI Bank gained Rs 5,030.88 crore to Rs 6,51,285.29 crore. However, the market capitalisation (mcap) of TCS eroded by Rs 16,484.03 crore to Rs 12,65,153.60 crore. The valuation of Bajaj Finance declined Rs 12,202.87 crore to Rs 4,33,966.53 crore. The

L&T, RIL, AU Small Finance Bank: Chris Wood rejigs India equity portfolio

This, he wrote in his weekly note, GREED & fear, will be paid for by reducing the existing investments in Bajaj Finance, Oil & Natural Gas Corporation (ONGC), and Reliance Industries (RIL)

Sensex ends 92 pts up amid volatility, Nifty tops 19,800; Infy, ITC gain 1%

Closing Bell on Wednesday, November 22, 2023: The BSE MidCap index gained 0.3 per cent, while the SmallCap slipped 0.6 per cent. Tata Tech and Gandhar Oil IPOs received strong response on Day 1.

Reliance to invest additional Rs 20k cr in Bengal in 3 years: Mukesh Ambani

Reliance Industries chairman and MD Mukesh Ambani on Tuesday announced an additional Rs 20,000-crore investment for West Bengal over the next three years. Ambani said the fresh investment will be in the areas of digital life solutions, retail and bio-energy. "We plan to invest an additional Rs 20,000 crore in Bengal in the next three years for enhancing digital life solutions, augmenting Reliance Retail footprint and on bio-energy," he said at the Bengal Global Business Summit (BGBS) here. The Reliance Industries has invested close to Rs 45,000 crore in the last few years in the state, Ambani said. "Reliance will leave no stone unturned to accelerate Bengal's growth," he asserted. The Reliance Foundation will also take up the task of renovating and restoring the iconic Kalighat Temple in Kolkata to regain its "original glory", Ambani added.

Jio Financial Services in early talks with bankers for maiden bond issue

Jio Financial, which was carved out of Reliance Industries, is in the process of getting its credit rating and other necessary approvals

Markets snap 2-day losing run; Sensex rises 276 pts, Nifty nears 19,800

Closing Bell on Tuesday, November 21: Among sectors, the Nifty Metal index rallied 1.22 per cent, followed by the Nifty Realty (1.13 per cent), and the Nifty Media (1.12 per cent)

Over 25 nations' leaders to join Bengal Global Business Summit from Tue

Business leaders from more than 25 countries, a host of prominent figures of corporate India as well as political dignitaries are expected to take part in the seventh edition of the Bengal Global Business Summit (BGBS) that will begin on Tuesday, officials said. The participating countries include the US, UK, Japan, Poland, France, Australia, Germany, Malaysia, Bangladesh and Fiji, they said. Corporate honchos from India's Reliance Industries, ITC, Ambuja Neotia and the Hiranandani Group are also likely to attend the state's marquee business summit. The focus sectors at the two-day BGBS 2023 are MSME, textiles, engineering, energy, transport & urban infrastructure, real estate, agri, tourism and international trade & logistics, officials said. Over 250 international delegates are expected to participate, including senior representatives from the World Bank and the Asian Development Bank, they said. "Reliance Industries Chairman & MD Mukesh Ambani is expected to attend this

Jio Financial Services in talks with merchant bankers for maiden bond issue

The company may look to raise Rs 5,000 crore ($600.6 million) to Rs 10,000 crore through the issue and may tap the market in the last quarter of this financial year, the bankers added.

Reliance JioCinema signs up Pokemon in kids entertainment push: Report

The deal, signed this month, will make JioCinema's streaming app the "exclusive" India platform partner for more than 1,000 episodes and around 20 movies of the Japanese anime series

Oil & gas biz may be nearing peak for RIL, claims larger share in profit

Ril's oil and gas business performance for several years has been lackluster in comparison to the profits its other divisions have returned