Page 47 - Reliance Industries

Walt Disney Co weighs options for struggling TV business in India

Disney's plan to consider at least a partial pullout from its India TV business came after CEO Bob Iger expressed his disappointment with the company's performance in India

Top Headlines: Lapses in pharma regulation, IPL's valuation rises 80%

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Results preview: Poor O2C showing may pull down RIL's revenue, profit

In Q1FY24, it may witness the first YoY net sales decline since Q3FY21 and the sharpest net profit fall since Q2FY21

RIL hits 13-month high on retail buyback, demerger of finance unit

Stock rallies 3.8 per cent to finish at Rs 2,735; m-cap tops 18.5 trillion again

RIL shines in lacklustre trade; Sensex ends 64 pts up; broader indices slip

CLOSING BELL ON JULY 10, 2023: Reliance alone contributed 302 points to the BSE Sensex as the stock finished 3.8 per cent higher. The NSE Nifty 50 was up 24 points at 19,356 on Monday.

Reliance Industries rallies on finance unit listing, retail buyback plans

The buyback of the small number of non-promoter shares is effectively a clean-up of the shareholding before any eventual IPO of the retail venture, JPMorgan Chase & Co. said in a note

RIL up 4%; sets July 20 as record date for share allotment in Jio Financial

Under the arrangement, shareholders of RIL will get one share each of Reliance Strategic Investment (RSIL) for every one share held in RIL as of the record date

M-cap of 6 of top-10 most valued firms jump Rs 1.19 trn; Reliance leads

Six of the top-10 most valued firms together added Rs 1,19,763.25 crore in market valuation last week, with Reliance Industries Limited and ITC emerging as the major gainers, driven by an overall positive trend in domestic equities. Last week, the 30-share BSE benchmark jumped 561.89 points or 0.86 per cent. The Sensex hit its all-time high of 65,898.98 on July 7. The valuation of Reliance Industries jumped Rs 57,338.56 crore to Rs 17,83,043.16 crore, the most among the top-10 firms. ITC added Rs 21,291.04 crore taking its market valuation to Rs 5,82,602.46 crore. The market capitalisation (mcap) of State Bank of India rallied Rs 18,697.06 crore to Rs 5,29,898.83 crore and that of Tata Consultancy Services zoomed Rs 9,220.81 crore to Rs 12,16,890.72 crore. ICICI Bank's valuation climbed Rs 8,998.26 crore to Rs 6,62,702.30 crore and that of Hindustan Unilever Limited advanced Rs 4,217.52 crore to Rs 6,33,532.04 crore. However, the mcap of HDFC Bank fell by Rs 22,926.37 crore to Rs

RIL sets July 20 as record date for Reliance Strategic Investments demerger

Billionaire Mukesh Ambnai's daughter Isha and former CAG Rajiv Mehrishi are among the directors appointed on the board of demerged financial services unit of Reliance Industries Ltd, the company said on Saturday. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). It will lend to consumers and merchants based on proprietary data analytics and will eventually branch out to insurance, payments, digital broking and asset management. Every Reliance shareholder will get one share of the new firm for every share held in the parent. While the effective date of the demerger has been fixed as July 1, July 20 has been fixed as the record day for allocating shares of the new company, according to the company's stock exchange filing. The spinoff, which will create fifth-largest financier in terms of capital and compete directly with the likes of

Sensex sinks 505 pts, Nifty gives up 19,350 amid global weakness; PSBs soar

Closing Bell on July 7, 2023: PowerGrid, IndusInd Bank, HUL, NTPC, Bajaj Finance, HCL tech, Tech M, L&T, Asian Paints, ICICI Bank, ITC, Kotak Bank, Infosys, and HDFC twins declined up to 3 per cent

NCLT approves demerger of financial services unit of Reliance Industries

Reliance Industries Ltd on Thursday said the National Company Law Tribunal has given its nod to the demerger of the company's financial services undertaking and its listing. Reliance had previously announced plans to demerge its financial services undertaking into Reliance Strategic Investments Limited (RSIL) and rename and list it as Jio Financial Services Limited (JFSL). "We wish to inform you that the National Company Law Tribunal, Mumbai Bench (NCLT), vide its order dated June 28, 2023, has sanctioned the Scheme," it said in a stock exchange filing. It went on to state that the company will now take necessary steps for the demerger. "The company and Reliance Strategic Investments Limited will take necessary steps including fixing the record date for allotment and listing of equity shares of Reliance Strategic Investments Limited," it said without giving timelines for the same. According to brokerage BofA Securities, by separating financial services from the core business, Reli

Reliance Jio to sign 5G equipment deal worth $1.7 billion with Nokia

Reliance's purchase from Nokia is in addition to the $2.1 billion worth of 5G equipment that it is already buying from Sweden's Ericsson

Indian refiners saved $7 billion from Russian crude imports in 14 months

India is the world's third-largest crude oil consumer and imports more than 85 per cent of its oil needs

Sensex soars 274 pts, Nifty near 19,400 as Bajaj Fin leaps 7%, Hero Moto 5%

Closing Bell on July 4, 2023: The rally was led by Bajaj Finance, Bajaj Finserv, Hero Moto, Tech M, TCS, Wipro, Sun Pharma, Kotak Bank, Infosys, Cipla, HCL Tech, SBI, HDFC twins, and ICICI Bank

How do brokerages view Reliance Jio's new feature phone offering?

Brokerages estimate that the launch of 'JioBharat' phones could disrupt the 2G market, and delay the tariff hike discussions in the near-term

Stocks to Watch on July 4: RIL, IndusInd, IDFC, Adani Transmission, DMart

Stocks to Watch today, on Tuesday: Reliance Jio, the telecom arm of Reliance Industries, has announced the launch of the internet-enabled 'JioBharat' phones, at a price of Rs 999

Sensex ends above 65,000, Nifty 19,300 for the first time; RIL zooms 2.5%

Closing Bell on July 3, 2023: The S&P BSE Sensex settled at a fresh closing high of 65,205, soaring 486 points. The broader Nifty50, meanwhile, zoomed 141 points to 19,330

Top headlines: HDFC Bank to become top weight, FPI inflow hit 10-month high

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Reliance Industries, bp start production from third field in KG-D6 block

At peak capacity, block to account for one third of India's domestic gas production

Reliance Industries, bp start production from MJ field in KG block

Reliance Industries Ltd, and its partner bp Plc on Friday announced the start of regular production from MJ oil and gas field in the KG-D6 block, helping scale up India's output of clean fuel to over 100 million cubic meters a day. MJ is the third and the last set of discoveries in the KG-DWN-98/3 or KG-D6 block, off the east coast that the consortium was working on. All three sets of discoveries, with MJ being the deepest, were made more than a decade back and have been progressively put into production. Together, the three sets of discoveries at their peak production will make up for 15 per cent of India's demand, the companies said in a statement on Friday. "The start of gas and condensate production from the MJ field follows the start-up of the R-Cluster field in December 2020 and Satellite Cluster in April 2021," it said. All three developments utilise the existing hub infrastructure for the block. "Together, the three fields are expected to produce around 30 million standard