Almost a week after the big-bang announcement by Reliance Industries (RIL) and BP Plc to invest Rs 40,000 crore in the Krishna Godavari Basin field, a senior BP official said that the company has withdrawn its arbitration with the government related to gas prices.

This has triggered expectations that the government could now allow the oil majors to charge a higher price for gas from KG-D6. While the price for domestic natural gas for the period of April 1 to September 30 has been kept at $2.50 per million metric British thermal unit (mmbtu), for deepwater blocks, a higher price of $5.56 per mmbtu is allowed. However, RIL and its partners were denied this price due to arbitration.

Reliance Industries’ planned USD 6 billion investment to monetise gas finds in KG-D6 block will increase its exposure to the extremely challenging Indian gas business that is fraught with delays and retrospective changes in regulation, Moody’s Investor Service said today. Reliance Industries(RIL) and its partner BP Plc of the UK last week announced that they are moving ahead with development of three fields in the KG-D6 block off the east coast of India. Investment of Rs 40,000 crore in the development of the fields is expected to produce 30-35 million cubic meters of gas a day (mmscmd) by the year 2020-2022.

Reliance Industries (RIL) was up 1.9% at Rs 1,415, trading higher for the fourth straight trading sessions on the BSE.

Since Jun 14, in past four trading days, the stock has outperformed the market by gaining 8% as compared to 0.33% rise in the S&P BSE Sensex.

Reliance Industries shares jumped ahead of a joint address later today by company chairman Mukesh Ambani and BP Plc’s group chief executive Bob Dudley. Reliance shares were trading up 2.2% at Rs 1,386 after rising to the day’s high of Rs 1,394.25. The subject of the address scheduled for 5.30 pm today is not immediately known. Meanwhile, the benchmark BSE Sensex was down 0.26% at 31,076.24 points.

Mumbai: Reliance Industries Ltd (RIL) is targeting doubling its market share in fuel retail in the next two-three years as it expands the business, two people aware of the plan said. RIL currently has a 5% share of India’s fuel retail market.

“RIL is working on various plans to improve its market share in the fuel retailing segment. It is looking at all the markets it is not currently represented in, and these are areas other than urban markets,” said one of the two officials cited above. This person spoke on condition of anonymity as he is not authorized to speak to the media.

Forbes magazine has named Reliance Industries (RIL) Chairman Mukesh Ambani as the topmost among its Global Game Changers who are transforming their industries and changing the lives of billions around the world.

Ambani features at the top of the Forbes' second annual Global Game Changers' list of 25 "intrepid business leaders unsatisfied with the status quo" who are "transforming their industries and changing the lives of billions of people around the globe."

The Securities Appellate Tribunal today admitted Reliance Industries’ plea against a Sebi order banning it from equity derivatives markets and will hear the matter next on August 8, with the firm saying it should be allowed to invest its surplus funds, including through mutual funds. Reliance Industries’ counsel Harish Salve requested the tribunal to allow it to at least invest its surplus funds in established mutual funds till the time an order is passed. In response, the tribunal said that once the company makes a separate application, Sebi can consider it and take a decision as per applicable law.

Earnings season hasn’t really thrown up any big surprises so far and neither are there any clear indications, there’s turnaround coming soon. The effects of demonetisation appear to have lingered on in the three months to March though some businesses did rebound towards the end of the quarter. If the topline growth for a sample of 115 companies (excluding banks and financials) is showing a robust 17.5 year-on-year growth it is thanks to RIL’s 42% y-o-y growth; excluding RIL, the growth collapses to 7% y-o-y.

Reliance Industries (RIL) reported record annual profits for the last financial year (2016-17), riding high on refining and petrochemicals businesses. For the March quarter, its consolidated net profit rose 12.3 per cent to Rs 8,046 crore, against Rs 7,167 crore for the same period a year ago.

With a significant part of its capital expenditure on the hydrocarbons business complete, the company expects it to contribute to its income in the current financial year (2017-18). The full impact would be visible in the next financial year (2018-19). The coming quarters, however, will see accounting for both revenue and expenses from its telecom venture.

Reliance Industries (RIL) gained 3% to Rs 1,411 on BSE in intra-day trade in an otherwise range-bound market after the company on Thursday announced commissioning of the second and final phase of paraxylene project at Jamnagar in Gujarat.

"With the commissioning of this plant, RIL's PX capacity will be more than double. Reliance will emerge as the world's second largest producer of PX with about 11% of global production," the company said in a statement.

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.