The Maharashtra government on Wednesday informed that Reliance Industries (RIL) has defaulted on payment of fine and additional surcharge of Rs 1,369.9 crore over the delay in construction of a convention-cum-exhibition centre in Mumbai.

The government gave this information in the state legislative assembly in a written reply to the question asked by Leader of Opposition Radhakrishna Vikhe Patil and some other MLAs.

NEW DELHI: Reliance Retail and Reliance Jio will be “hyper growth platforms” for the Mukesh Ambani-led conglomerate in the next 10 years — which the company calls its golden decade.

Reliance Industries sees robust and sustainable growth in both consumer-facing sectors, apart from strong cash flows from its flourishing core businesses of energy and petrochemicals, as it reaps rewards of ambitious capital expenditure in recent years, it said in a presentation after the quarterly earnings.

Oil to telecom conglomerate Reliance Industries (RIL) announced a bonus share issue, a demand shareholders have been making repeatedly at annual general meetings (AGMs).

"I had committed last year that we would reward shareholders at the completion of our investments," Mukesh Ambani, chairman and managing director, said as he announced the board's recommendation for one bonus share for every one held by shareholders, at the 40th AGM in Mumbai on Friday.

The organised retail business of Reliance Industries (RIL) posted Rs 398-crore profit before depreciation, interest and taxes (PBDIT) at Rs 398 crore in the quarter ended June, a 66 per cent annual jump at the back of record sales growth of 73.6 per cent to Rs 11,571 crore in the period.

The company said the increase in revenue was led by growth across all consumption baskets. The company included its fuel retail outlet to retail operations in the June quarter last year and numbers are comparable year to year.

The government has ordered Reliance Industries (RIL) to pay a penalty over an arbitration award on its Panna Mukta and Tapti (PMT) oil field, the company has informed BSE in a statement on Tuesday. The company, however, said the notice was premature.

"RIL as part of the contractor for Panna Mukta and Tapti production sharing contracts, has been notified by [the] Government of India (GOI) of its computation of the purported share of GOI's Profit Petroleum and Royalty alleged to be payable by the contractor pursuant to the GOI's interpretation of Arbitration Tribunal's final partial award dated 12 October 2016," RIL said in its statement to BSE.

NEW DELHI: The government has ordered Reliance Industries (RIL), Shell and ONGC to pay a combined $3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, according to people familiar with the matter. RIL and Shell have appealed the arbitration award in a UK court.

The oil ministry sent out a demand notice last month to Reliance and Shell, which own 30% each in the PMT fields off the Mumbai coast, as well as to ONGC that owns the balance 40% participating interest. The three companies have to pay the penalty proportionate to their stake in the fields.

Reliance Industries, the most valuable firm on the bourses, added another feather in its cap by crossing the Rs 5 lakh crore market-capitalisation for the first time in its trading history.

It has become the second only firm to do so after Tata Consultancy Service (TCS), which is now the second most valuable company in terms of market-capitalisation.

Reliance Industries (RIL) hit an over 9-year high of Rs 1,525, up 2% on BSE in early morning trade.

The stock was trading at its highest level since January 17, 2008. Thus far in the calendar year 2017, it outperformed the market by surging 41% as compared to 19% rise in the S&P BSE Sensex.

The share price of Reliance Industries (RIL) rose 3.4% on Friday to hit a nine-year high. The company’s market capitalisation on Friday is Rs 4.84lakh crore. The petrochemicals giant recently forayed into the mobile telephony space via RJio and has managed to garner more than 70 million subscribers. A total of 88.71 lakh shares were traded in the counters of BSE and NSE, 1.97 times more than its three-month daily average of 44.95 lakh shares. The company is understood to be gearing up to launch a 4G VoLTE feature phone at a very attractive price.

Online entertainment ticketing firm BookMyShow (BMS) has acquired Burrp, a Mumbai-based local restaurant recommendation engine, from Network18.

The acquisition is being carried out on a slump sale basis by Foodfesta Wellcare, an arm of Big Tree -- an associate firm of Reliance Industries, which is also the promoter group company of Network18.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.