Reliance Industries Limited (RIL) Related news

Reliance Industries dips post Q3 results

Reliance Industries (RIL) was down 2.5% at Rs 1,050 on the BSE in intra-day trade after the company reported 10% year on year (YoY) growth in its standalone net profit at Rs 8,022 crore for the quarter ended December 31, 2016 (Q3FY17) on account of a higher than expected margins in the refining and petrochemical businesses and a higher other income. The company had reported profit of Rs 7,296 crore in the same quarter last fiscal year.

Income from operations during the quarter under review increased 8.9% at Rs 66,606 crore on YoY basis, while other income rose 32.6% or by Rs 744 crore to Rs 3,025 crore over the previous year quarter.

RIL to invest another Rs 30,000 crore into Jio Infocomm

Reliance Industries is planning to invest a sum of Rs. 30,000 crore into Reliance Jio Infocomm to further its development and improve its signal strength.

The company in its board meeting held earlier on Friday decided to invest another Rs. 30,000 crore into its telecom unit and sell 600 crore preference shares to raise the amount. These preference shares will be sold through a rights issue and will be nine percent non-cumulative optionally convertible (OCPS) available at Rs. 50 each including a premium of Rs. 40.

Will Reliance Industries give investors a reason to cheer today?

The shares of Reliance will be in focus today as the Mukesh Ambani-led company is slated to announce its financial results for the quarter-ended December 31. On the BSE, RIL shares were trading at Rs 1085.60 apiece, down 4.55 or 0.42% from previous close. On the National Stock Exchange (NSE), its shares were trading at Rs 1085.35, down Rs 5.05 or 0.46% from previous close.

In the last quarter, the company had reported a drop of nearly 23% in net profit. The company's consolidated net profit had declined to Rs 7,206 crore from Rs 9,345 crore during the quarter ended on September 30, 2015.

With a price tag of Rs 1,000, RJio's 4G VoLTE phones can disrupt the market

Last year, Mukesh Ambani’s Reliance Jio disrupted the telecom space with super affordable 4G tariffs. The company seems to be geared to continue its disruptive streak by launching super-affordble feature phones that, apparently, will do away with the need for smartphones.

According to an Economic Times report, Reliance Jio is considering launching 4G VoLTE-ready feature phones that would cost as little as Rs 999. What's more? The phone is said to be able to access Jio’s high-speed 4G internet, the Jio digital store and play music.

Reliance Industries hits two-month high

Reliance Industries (RIL) hit a two-month high of Rs 1,084, up 1.8% in intra-day trade on Friday, extending its Thursday’s 1% gain on the BSE after the company said it commissioned the first phase of Para-xylene (PX) plant at Jamnagar, Gujarat.

The stock was trading at its highest level since October 21, 2016. It hit a 52-week high of Rs 1,129 on September 26, 2016 in intra-day trade.

RIL commissions 1st phase of Paraxylene plant at Jamnagar

Reliance Industries has announced the commissioning of the first phase of its Paraxylene (PX) plant at Jamnagar, Gujarat.

The plant with capacity of 2.2 million tonnes per annum is built with state-of-the-art crystallisation technology from BP which is highly energy efficient and environment friendly.

RIL-ONGC dispute: Justice Singhvi appointed arbitrator

New Delhi: The oil ministry has appointed G.S. Singhvi, a former Supreme Court judge and Competition Appellate Tribunal chairman (Compat), as the government’s arbitrator in a $1.55 billion dispute with Reliance Industries Ltd (RIL) over alleged extraction of gas from a reservoir connected to that of state-run Oil and Natural Gas Corp. on the east coast.

Singhvi, who retired from Compat earlier this month, will consult an arbitrator chosen by RIL for identifying a third neutral arbitrator and the place of arbitration, said a government official, who asked not to be named.