Mumbai: Severe under-utilisation of refining assets in four countries—Argentina, Mexico, Brazil and Venezuela—and Reliance Industries Ltd’s (RIL) shift in feedstock towards ethane will boost refining margins for RIL, according to analysts. RIL exports majority of its products from its twin refineries in Jamnagar, Gujarat.

“Utilization of the Latin American refineries does not appear to be improving any time soon. This would enable RIL to continue clocking GRM (gross refining margin) of 11.5 per barrel during FY19-20,” said Motilal Oswal Securities Ltd in its report dated 13 November.

Reliance Industries gained over 2% on Tuesday and was the top index gainer after the company hit the overseas debt market with a $800-million bond sale programne as it seeks to pare a portion of its high cost debt that stands at over Rs 2.14 lakh crore.

The stock rose as much as 2.26% to Rs 939 on the BSE.

Oil to telecom conglomerate Reliance IndustriesBSE -0.24 % Ltd (RILBSE -0.24 %) is looking to raise $800 million through a 10-year bond sale making it the first company to take advantage of India's rating upgrade last week.

The company kickstarted the sale earlier this morning as it seeks to refinance the perpetual bonds it sold in 2013.

NEW DELHI: Reliance Industries (RIL) has prima-facie not complied with one clause of the government’s coal bed methane (CBM) marketing policy because it sold the gas it produced to its own unit after participating in auctions, the oil ministry has found in its preliminary assessment.

RIL said it has abided by CBM pricing policy’s stated objective of discovering the best possible price that maximises state revenue and royalty, which was achieved by its participation in the transparent auctions conducted by CRISIL Officials say the policy allows sale of CBM to an affiliate only if another buyer is not found but RIL said it acted in line with the policy and has regularly informed the government about its actions.

Reliance Industries Ltd said on Tuesday that the company has issued the fifth tranche of privately placed debentures worth Rs 2,500 crore after the company proposed the same on Thursday last week. The issue size of Rs 2,500 crore contains

25,000 unsecured redeemable non-convertible debentures of face value Rs 10,00,000 each. The PPD — Series E shall be redeemed at par at the end of third year and 1 month from the date of allotment i.e. 14 December 2020.

Mukesh Ambani’s Reliance Industries (RIL) is to increase its presence in the polyester space after the launch of its new brand, RElan, through which it will get into co-branding of apparel. The largest manufacturer of polyester in the country, it has an annual capacity of 2 million tonnes (mt), almost half the country’s 4.5 mt. The firm expects 5 per cent yearly growth in this segment. China, with 45 mt manufacturing capacity out of 70 mt globally, is much ahead of India.

For RElan, the new portfolio of speciality fabric, the firm has tied up with VF Corporation of America, owner of the world’s largest denim brand, Wrangler, to launch by the coming February the Inficool denim range. “We are in talks with at least five leading domestic and international apparel brands to co-brand with the RElan brand.

City-based equity crowdfunding platform OurCrowd has tied up with Reliance Industries, Reliance Private Client, Yes Bank and Let’s Venture to cash in on India’s burgeoning fintech ecosystem, OurCrowd chief executive officer Jon Medved said. “We think that India is highly under-invested and it’s going to be an explosive market over the next couple of decades,” Medved said. OurCrowd enables start-ups to connect with prospective investors and is currently distributing its products to high-networth clients of Reliance Private Client.

Reliance Industries Ltd said on Thursday that the company has proposed to offer non-convertible debentures worth Rs 2,500 crore on a private placement basis. “Pursuant to the authority given by the shareholders of the company at the Annual General Meeting held on 21 July 2017, it is proposed to make an offer for the issuance of non-convertible debentures (NCDs Series E) (5th Tranche) on private placement basis on Tuesday, 14 November 2017 aggregating Rs 2,500 crore, to be listed on the stock exchanges,” RIL said in an exchange filing.

Reliance Industries, the most valuable firm on the bourses, has become the first Indian company to cross the Rs 6-lakh crore market capitalisation on the closing basis.

On Wednesday, RIL settled the day at record high level of Rs 952, up 1.2% with a market cap of Rs 6.03-lakh crore. In intra-day trade, the stock hit a high of Rs 957 with a market cap of Rs 606,328 crore.

Mukesh Ambani-led Reliance Industries and its partners, BP and Niko Resources, have so far paid only $82 million to the gas pool account — maintained to park the differential between the notified gas price given to others and the $4.2 per unit that the three contractors charge their customers.

The firms are yet to pay the penalty imposed on them for disallowing recovery of cost incurred for missing the target during six years from 2010. After a fresh penalty of Rs 264 million in August, the total now stands at $3.02 billion.

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