Reliance Industries has asked its partner Niko Resources to withdraw from eastern offshore KG-D6 gas block over default in payments for field development cost, but the Canadian firm has sought to stall the move by invoking arbitration, the companies said.

Niko, which defaulted on payment of loans to its lenders,

Reliance Industries (RIL) is ready to unleash its e-commerce dark horse to take on the likes of Amazon India and Walmart-owned Flipkart. Chairman and Managing Director Mukesh Ambani on Friday said Reliance Retail and Reliance Jio Infocomm were set to jointly launch their new e-commerce platform in the country.

Reliance Industries (RIL) reported a strong set of numbers for the three months ended December 2018, beating Street estimates on all fronts. The company’s consolidated net profit increased nearly 9% year-on-year to Rs 10,251 crore.

With the profit of over Rs 10,000 crore, RIL has become the first private sector company to cross this number.

Shares of Reliance Industries (RIL) were trading higher for the third straight trading session, gaining 1.2 per cent to Rs 1,148 apiece on the BSE on Thursday in an otherwise range-bound market ahead of its December quarter (Q3FY19) result today.

In the past three trading sessions, RIL has risen 5 per cent, as compared to 1.3 per cent rise in the S&P BSE Sensex.

Asia’s richest man and Reliance Industries’ Chairman Mukesh Ambani has as featured in Foreign Policy magazine’s 2019 annual list of the top ‘100 Global Thinkers,’ on the back of a ‘smartphone revolution’ brought about by his telecom venture Reliance Jio. “With a fortune of $44.3 billion, Mukesh Ambani displaced Jack Ma in 2018 as Asia’s richest man. Ambani’s fortune comes from his holdings in the oil, gas, and retail sectors, but he’s likely to make his biggest impact on India through his new telecom venture Jio,” Foreign Policy magazine said.

RIL share price: Shares of billionaire Mukesh Ambani-led Reliance Industries surged in trade on Thursday morning, to emerge as the biggest gainer in the Sensex. RIL share price zoomed by more than 2.2% to hit Rs 1,122.90. RIL is contributing the maximum to Sensex gains currently. Among other major bluechip gainers were TCS, Infosys and ITC. A look at top index contributors.

World’s largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khalid al-Falih said.

Al-Falih, who has known Ambani for over a decade now, travelled to Udaipur earlier this month to attend the pre-wedding festivities of Ambani’s daughter Isha’s marriage with Ajay Piramal’s son Anand.

World’s largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khalid al-Falih said. Al-Falih, who has known Ambani for over a decade now, travelled to Udaipur earlier this month to attend the pre-wedding festivities of Ambani’s daughter Isha’s marriage with Ajay Piramal’s son Anand.

Reliance Industries Limited (RIL) shares fell over 4 percent today as the benchmark equity index BSE Sensex plunged 550 points Monday in view of exit poll results ahead of outcome of state elections, weakening rupee and crude oil price rise amid rise in US-China trade tensions. The RIL shares fell 47.30 points, or 4.17 percent, to Rs 1085.95, losing the most among the 30-participants of the index today.

The Delhi High Court on Friday sought response from Mukesh Ambani-led Reliance Industries (RIL) and its partners on the government’s petition accusing it of “unjust enrichment of over $1.729 billion” by siphoning gas from deposits they had no right to exploit.

Justice Rajiv Shakdhar while seeking response from the RIL, its partners – UK-based BP Plc and Niko Resources of Canada – posted the matter for directions on December 15.

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