Page 48 - Reliance Industries

Reliance Industries may transform into holding company: CreditSights

Oil-to-telecom conglomerate Reliance Industries Ltd may eventually transform into a holding company, with majority stakes in independent entities that operate the major business verticals, CreditSights, part of the Fitch Group, said on Monday. In a report on billionaire Mukesh Ambani's succession plans at Reliance, it said robust credit profile, aided by strong anticipated earnings outlooks for its telecom and retail segments, mitigate a poorer outlook for Reliance's downstream oil unit amid high crude oil prices and its elevated capex needs. Reliance recently shed more light on the conglomerate's business succession plans, when company chairman Mukesh Ambani announced that his three children - Akash, Isha and Anant - would be inducted into the firm's board of directors. Ambani said he would continue performing his duties as chairman and CEO for five more years. "We view the further progress in Ambani's succession plans favorably, considering key man risk has been a persisting conce

Most valuable India firm RIL hits oversold level after six-month gap

The stock dropped 0.7% to 2,339.50 rupees in provisional close on Monday, poised to breach its 200-day moving average

M-cap of 8 of 10 firms lose Rs 2.28 trn; HDFC, Reliance biggest laggards

The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities. Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent. Equity markets were closed on Tuesday on account of Ganesh Chaturthi. From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers. The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per cent last week. The valuation of Reliance Industries plunged Rs 71,715.6 crore to Rs 15,92,661.42 crore. The company's shares declined over 4 per cent past week. ICICI Bank's valuation dropped Rs 29,41

Sensex tanks 796 pts, Nifty breaks 20,000: Why are markets falling today?

Shares of HDFC Bank and Reliance Industries declined 4 per cent and 2.23 per cent, respectively, on Wednesday, September 20

Reliance Industries slides 3% to two-month low; volumes surge on block deal

Till 11:03 AM; around 23 million equity shares, representing 0.35 per cent of total equity of RIL, had changed hands on the NSE, the exchange data shows

Stocks to Watch: RIL, RR Kabel, Tata Motors, Bank of Maha, Bharat Dynamics

Stocks to Watch today, September 20, 2023: RR Kabel is set to debut at the stock exchanges on Wednesday, becoming the first entity to make a T+2 listing

Disney India's streaming, TV biz sale talks draw firms including Reliance

Though Disney Star has seen declining subscriber numbers after losing the IPL streaming rights, it hasn't ceded the entire cricket business, securing the television rights through 2027

Nifty heavyweights at crossroads; HDFC, ICICI Bank look favourable on chart

HDFC Bank, Reliance Industries, ICICI Bank, Infosys and ITC collectively hold over 42 per cent weightage on the Nifty 50, and are expected to act as trend setters for the benchmark.

Stocks to Watch today, Sep 15: Infosys, Airtel, BoM, GMM Pfaudler, Sequent

Stocks to watch on Friday, September 15, 2023: Buzzing today - Infosys secures a $1.5 bn global deal, GMM Pfaudler inks $7 mn acquisition and RBI places 15 NBFCs in top layer.

Reliance Industries to temporarily shut some Jamnagar units for maintenance

The conglomerate owned by billionaire Mukesh Ambani is the operator of the world's biggest refining complex which houses two plants with a combined capacity of about 1.4 million barrels per day

HC seeks RIL response on govt's plea accusing firm of siphoning off gas

The Centre had appealed against the single-judge bench order of Delhi High Court on May 9 dismissing its petition

Sensex, Nifty end flat after hitting record highs; broader indices gain 1%

Closing Bell on September 14, 2023: Sectorally, the Nifty PSU Bank index gained 1.64 per cent, the Nifty Metal index added 1.5 per cent, and the Nifty Realty eked out gains of 1.4 per cent

Stocks to Watch today, Sep 14: Adani Group, RIL, Hero Moto, Bombay Dyeing

Stocks to watch on Thursday, September 14, 2023: Delta Corp, Indiabulls Housing Finance, IEX, India Cements, Manappuram, REC and SAIL among stocks in F&O ban today.

Expecting high demand, QSRs, retail companies expand their workforce

Reliance Retail (RR), the country's largest retailer, added the most number of employees at about 60,000 in FY23

Stocks to Watch, Sep 12: L&T, RIL, Lupin, Hindalco, TVS Supply, Power Grid

Stocks to watch on Tuesday, September 12, 2023: From L&T raising its share buyback price, Bajaj Finance planning to enter new car loans segment, Power Grid to trade ex-bonus and more.

Tata Group needs to find substantial growth, ward off Ambani's Reliance

Tata Consumer Products Ltd., the owner of the Tetley tea brand, was uncomfortable with Haldiram's $10 billion valuation

RIL backed HFCL bags Rs 83 crore order to supply optical fibre cable

Reliance Industries-backed Himachal Futuristic Communications Limited (HFCL) on Monday said it has bagged a Rs 82.60 crore order from a domestic telecom service provider. In a regulatory filing, the company said it has received the order for the supply of optical fibre cable from an Indian company into telecom services, and the contract is likely to be executed by November this year. HFCL recorded a 42 per cent rise in its net profit to Rs 75.56 crore in the April-June quarter of FY2023-24, up from Rs 53 crore in the year-ago period.

Top headlines: RIL pushes battery unit timeline to 2026, PM signs off G20

Business Standard brings you the top headlines at this hour

Stocks to Watch today, Sep 11: Adani Grp, HDFC Bank, RIL, Sonata, IRB Infra

Stocks to watch on September 11, 2023: Balrampur, Delta Corp, India Cements, Manappuram, PNB and SAIL among nine stocks in F&O ban on Monday.

Reliance Industries pushes battery unit timeline by 2 years to 2026

This would be one of the rare instances, where the company has changed a stated timeline or target for any business outcomes