Shares of Reliance Industries (RIL) hit a new high of Rs 1,208 per share, up 2% on the BSE on Wednesday, surpassing its previous high of Rs 1,203 recorded on August 1, 2018 in intra-day trade.

Thus far in the current financial year 2018-19 (FY19), RIL has outperformed the market by surging 37% from Rs 883 on March 28, 2018.

In what could hit Reliance Industries’ (RIL) aviation turbine fuel business, Airports Authority of India (AAI) and national oil marketing companies (OMCs) have refused to allow the private firm to become a shareholder in a proposed joint venture (JV) which seeks to set up common infrastructure to supply ATF across all major airports operated by the state-owned authority.

Petroleum minister Dharmendra Pradhan said on Friday that the government will appeal at the High Court against an order by an international tribunal favouring Reliance Industries in the controversial gas migration dispute.

“The government will certainly file an appeal against the arbitration award in the higher forum. It will be in the High Court,” Pradhan told the media on the sidelines of a Confederation of Indian Industry (CII) in Delhi.

The ministry of petroleum and natural gas has sought legal opinion on an arbitration ruling that went in favour of Mukesh Ambani’s Reliance Industries (RIL) in the gas migration dispute.

The government is likely to appeal against the 198-page final award in the Delhi High Court within the next 90 days.

In a major blow to the government in the gas migration dispute between Reliance Industries (RIL) and state-owned ONGC, an international arbitration tribunal on Tuesday ruled in favour of a consortium led by the Mukesh Ambani-led conglomerate.

The tribunal rejected the government’s claim of illegal gas production by the consortium from the neighbouring block of ONGC in the Krishna-Godavari (KG) basin.

Mukesh Ambani-led Reliance Industries (RIL) posted a 17.9 per cent year-on-year growth in its June 2018 quarter (Q1) net profit (excluding exceptional items) on the back of robust performance of its petrochemicals (petchem) operations as well as strong show in the retail and telecom businesses.

For the April-June 2018 quarter, RIL posted a net profit of Rs 94.59 billion compared to Rs 91.08 billion reported in the year-ago quarter, which is a rise of 3.9 per cent.

Mumbai: Reliance Industries Ltd (RIL) is likely to report an increase in its quarterly profit led by stronger petrochemical margins, offsetting weaker refining margins. RIL, which operates the world’s largest refining and petrochemicals complex at Jamnagar in Gujarat, will report its earnings on Friday. According to a Bloomberg poll of nine brokers, RIL is expected to post consolidated net sales of Rs 1.269 trillion crore for the first quarter ended 30 June.

Mumbai: Reliance Industries Ltd, India’s second-largest company by market value, plans to raise about Rs 40,000 crore in fresh debt this financial year as it expands its consumer businesses, according to people familiar with the matter.

The billionaire Mukesh Ambani-led company will raise funds through loans and bonds, mostly in the Indian currency, the people said asking not to be named as they are not authorized to speak to the media.

We expect 1QFY19 EBITDA for Reliance Industries (RIL) to grow 45% yoy with petchem growth more than offsetting slight decline in refining margins. We believe investors will continue to get surprised by the stability of new and improved chemical business earnings even amid rising oil prices and lower polyethylene spreads, while volumes will also grow qoq due to ramp-up of the new projects.

Reliance Industries shares: Billionaire Mukesh Ambani-led Reliance Industries’ share price is trading near all-time levels, up by more than 1.8%. Notably, the recent rally in the shares of Reliance Industries led to the firm achieving another milestone yesterday, topping the $100 billion mark in market capitalisation.

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