Reliance Industries (RIL) is likely to register over 25 per cent rise in consolidated net profit figures for the quarter ended June 30, 2016. However, gross refining margins (GRM) of the oil company may fall marginally on account of lower product cracks.

According to KR Choksey Shares & Securities, the brokerage house may register net profit growth of 27 per cent on year-on-year basis to Rs 7,786.6 against Rs 6,137 crore in the corresponding quarter last year. For the quarter ended March 31, 2016 the company reported net profit of Rs 7,398 crore, up 15.94 per cent, against Rs 6381 crore in the corresponding quarter a year ago.

Ahead of the first quarter results of Reliance Industries, that is due on Friday, top brokerages and analysts have predicted an average rise in net profits of 5.5 per cent over the like period of last year, with the maximum jump seen at 10 per cent.

Sequentially, though, all the 16 such forecasts by firms like Citi, HSBC, Nomora, JP Morgan and Kotak, see a fall ranging between 5.5 per cent and 15.5 per cent (for the first quarter of this financial year over the last quarter of the previous year. The average is 11.3 per cent.

NEW DELHI: The government may hold on to its shares in blue chips such as ITC and L&T despite the Specified Undertaking of Unit Trust of India (SUUTI) seeking bids from merchant bankers to advise the agency on its holdings that span across sectors.

While several experts have suggested that SUUTI, which is wholly owned by the government, sell some of the marquee stocks instead of divesting stake in PSUs to raise money, a source in the government said that rushing in with the sale may not be prudent.

Government has invited merchant bankers to help it sell minority stakes in 51 companies, including RIL, ICICI Bank, Axis Bank and L&T, and is looking at exiting them within three years.

The Specified Undertaking of UTI (SUUTI) has investments in these 51 listed as well as unlisted companies, like Hindustan Unilever, ITC Ltd, Jaiprakash Associates and a host of Tata Group firms.

Reliance Industries Ltd (RIL) has got approval from the Ministry of Environment & Forests (MoEF) to drill eight additional exploratory wells in Tamil Nadu. The company plans to invest around Rs 800 crore to drill these new wells.

An Order, signed by Lalit Bokolia, additional director, MoEF, on June 30 , 2016 stated that the Ministry has given environmental clearance to the project under the provisions. The Ministry also listed several conditions in the Order.

Reliance Industries Ltd (RIL) and State Bank of India (SBI), the country’s largest lender, have signed the subscription and shareholders’ agreements for their payments bank venture.

While RIL is the promoter with 70%, SBI will have an equity investment of 30%.

Doing business in overseas markets is fraught with risks; more so when companies enter new markets through leveraged buyouts. But in some cases, the risk taken turns out to be well worth it.

Consider the Tata group. On the face of it, its bravado looks misplaced, as some of its big global bets are backfiring. Its investment in Corus Group Plc.—the largest ever acquisition by the group—is practically a write-off. Now, Brexit threatens to spoil things for Jaguar Land Rover (JLR) and the European operations of Tata Consultancy Services Ltd (TCS).

Reliance Industries (RIL) has sought a probe on reports that the company was a target of illegal phone-tapping along with some government officials a decade ago.

The Indian Express on Friday reported the Essar group had allegedly tapped phones of top RIL officials, various government officials and ministers between 2001 and 2006.

Last week, Mint reported that Reliance Industries Ltd (RIL) will be withdrawing from its ongoing arbitration with the government on natural gas pricing. In March, the government approved pricing and marketing freedom for natural gas produced from difficult terrain (albeit capped with a ceiling price). It also said the new rules will be applicable only on conclusion/withdrawal of pending arbitration or litigation pertaining to gas pricing.

India’s largest IT company, Tata Consultancy Services (TCS), has become the third conglomerate to invest large cash holdings in government bonds, a trend that could boost the young debt market but also stir volatility.

TCS ploughed $3 billion into the market from January to March, its annual balance sheet showed last month, shifting funds that totalled 80 percent of its surplus cash position. Previously the company had largely invested in mutual funds.

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