Page 48 - Reliance Industries

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

Looking to export 5G solutions, Jio to reap benefits of Indo-US tech pact

Even before Prime Minister Narendra Modi landed in the US for his official state visit, Jio had submitted details to the government detailing the readiness of its 5G solutions

10% of country's fuel pumps now offer EV charging facilities, IOCL leads

5,600 IOCL pumps offer EV charging facilities which come at about 15 per cent of its total 36,400 fuel pumps across the country

M-cap of 6 of valued firms erodes by Rs 1 trn, Reliance takes biggest hit

Six of the top-10 most valued domestic firms suffered a combined erosion of Rs 1,02,280.51 crore in market valuation last week, amid a weak trend in equities, with Reliance Industries taking the biggest hit. Last week, the BSE benchmark fell 405.21 points or 0.63 per cent amid a bearish trend in global equities and concerns over rate hikes by central banks of various countries. From the top-10 pack, Reliance Industries, ICICI Bank, Hindustan Unilever, ITC, Infosys and State Bank of India faced erosion from their market capitalisation (mcap). However, Tata Consultancy Services (TCS), HDFC Bank, HDFC and Bharti Airtel emerged as the gainers. The market valuation of Reliance Industries tumbled Rs 40,695.15 crore to Rs 17,01,720.32 crore. Hindustan Unilever's mcap diminished by Rs 17,222.5 crore to Rs 6,20,797.26 crore. State Bank's valuation fell by Rs 14,814.86 crore to Rs 4,95,048.22 crore and that of Infosys declined by Rs 11,204.66 crore to Rs 5,25,228.89 crore. The mcap of ITC

Local production to ownership: Strict rules of Shein's India re-entry deal

The agreement will require Reliance's retail arm to fully own the domestic business, people familiar with the matter said

Stocks to watch: RIL, TCS, Bharti Airtel, PNB, Vedanta, NMDC, JK Tyre

Stocks to watch on June 22, 2023: From Reliance Industries to Tata Consultancy Services, here are the top stocks to watch in Thursday's trading session

Eyeing expansion, Reliance gets RBI's special approval to raise funds

The money is likely to be used to support the working capital needs of the company besides expansion in energy and telecom businesses

Adani Gas down 74% in 6 months, Serum Institute most valued unlisted firm

The total value of the top 500 companies in India declined marginally by 6.4% to Rs 212 trillion from Rs 227 trillion as of October 30,2022.

Reliance tops Hurun's list of most valuable private sector companies

With a value of Rs 16.3 trillion, Reliance Industries is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore

Reliance Industries resumes vessel operations at Sikka port in Gujarat

Several ports in Gujarat had suspended cargo operations last week due to unsafe weather conditions at sea

Reliance may earn $10-15 billion revenue from new energy biz by 2030

Billionaire Mukesh Ambani's Reliance Industries may by 2030 earn USD 10-15 billion from its new energy business spanning solar to hydrogen but will need acquisitions or partnerships to make up for limited expertise in technology, said a report by Sanford C Bernstein. Clean energy (solar, battery, electrolyzers, and fuel cells) represents a new growth pillar for Reliance with USD 2 trillion in investment in India through 2050. India is targeting solar capacity of 280GW and 5 million tonne of green H2 production by 2030. "We expect EV penetration will reach 5 per cent for passenger and commercial vehicles and 21 per cent for two-wheelers. Clean energy could have a TAM (total addressable market) of USD 30 billion in 2030 (USD 10 billion currently). By 2050, "we estimate the TAM could reach USD 200 billion and cumulative spending of USD 2 trillion," the brokerage said in the report. Oil-to-telecom conglomerate Reliance has announced forays into solar manufacturing as well as hydrogen i

M-cap of 6 of top 10 valued firms climbs over Rs 1.13 trn; Reliance leads

Six of the top-10 most valued domestic firms together added Rs 1,13,703.82 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in an overall bullish trend in the equity market. Last week, the BSE benchmark jumped 758.95 points or 1.21 per cent. The 30-share BSE index zoomed 466.95 points or 0.74 per cent to settle at a record closing high of 63,384.58 on Friday. While Reliance Industries, Hindustan Unilever Limited, ITC, Infosys, HDFC and Bharti Airtel were the gainers, Tata Consultancy Services (TCS), HDFC Bank, ICICI Bank and State Bank of India faced erosion from their market valuations last week. Reliance Industries added Rs 63,259.05 crore taking its valuation to Rs 17,42,415.47 crore. The market capitalisation (mcap) of Hindustan Unilever jumped Rs 18,737.99 crore to Rs 6,38,019.76 crore. ITC's valuation zoomed Rs 18,331.32 crore to Rs 5,63,237.76 crore and that of Infosys climbed Rs 11,059.41 crore to Rs 5,36,433.55 crore. The mcap

Stocks to Watch today, June 16: IKIO, RIL, Hero Moto, IndiGo, Glenmark, UTI

Stocks to watch on June 16, 2023: IKIO Lighting to debut today; BHEL, Delta Corp, Indiabulls Housing Fin, IEX, India Cements, L&T Housing Fin, Manappuram Fin, Tata Chem and Zee in F&O ban period.

Reliance in talks with lenders for $2 billion loan to fuel expansion

Ambani is raising funds as he continues to build out the telecoms and consumer-facing arms of an empire based on a bedrock of crude-oil refining

Clean energy a $2 trillion opportunity for RIL: Bernstein report

RIL could potentially achieve around $10 billion of revenue from new energy business in 2030

Stocks to Watch today, June 14: Adani Group, Zee, RIL, Maruti, SBI Life

Stocks to watch on June 14, 2023: BHEL, Delta Corp, Indiabulls Housing Finance, IEX, India Cements and Manappuram Finance are the six stocks in F&O ban period today.

Reliance may earn $10-15 bn revenue from new energy biz by 2030: Bernstein

Reliance has committed to being net zero by 2035, which is earlier than any other energy company in the region

Reliance Industries climbs 8 spots on Forbes' Global 2000 list to 45th rank

The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value, Forbes said while releasing the 2023 ranking of the world's top 2,000 companies

Reliance suspends Sikka port's diesel, oil products exports due to cyclone

Reliance said in a letter sent to traders that it had declared a force majeure on exports from Sikka due to the storm, which weather forecasters say could hit India's western state of Gujarat

IndianOil top bidder for Reliance's KG gas for second auction in row

Indian Oil Corporation (IOC), the nation's largest oil firm, has walked away with half of the natural gas that Reliance Industries Ltd and its partner bp of the UK offered in the latest auction of the fuel used to generate power, produce fertilizer, turned into CNG and used for cooking purposes. IOC got 2.5 million standard cubic meters per day out of the 5 mmscmd of gas auctioned last month, sources with knowledge of the matter said. The oil refining and marketing company, which was the top bidder even in the previous auction of gas from the eastern offshore KG-D6 block of Reliance-bp, bid the volumes on behalf of seven fertilizer plants. City gas companies including GAIL Gas Ltd, Mahanagar Gas Ltd, Torrent Gas, Indian Oil Adani Gas Ltd, and Haryana City Gas secured a total of 0.5 mmscmd of gas for turning into CNG for sale to automobiles and piped to household kitchens for cooking purposes. State gas utility GAIL and refiner Hindustan Petroleum Corporation Ltd (HPCL) got 0.6 mmsc