MUMBAI: Reliance Industries has started handing out increments and bonuses to its 20,000 employees with junior & middle managers receiving raises of 8-10%. Letters were issued to these employees on Friday, while senior managers will receive theirs along with variable pay this week.

RIL had reported a net profit of Rs 7,398 crore in the March quarter, the highest in eight years. It paid 100% of variable pay or annual cash bonus (ACB) to junior and middle managers.

Reliance Industries Ltd (RIL) is perusing whether to withdraw a pending arbitration with the government on the gas price issue so that it can benefit from the higher prices.

The company's top management is understood to be looking into two divergent views of whether to drop the arbitration to gain from the near doubling of gas prices or carry on with the two-year-old case. "There is a view in favour of continuing with the case, while a second one favours dropping the arbitration. Both the views have been presented to the top management and the board will take a final call," said a senior executive close to the development. An e-mail sent to the firm remained unanswered.

Mumbai, April 25: The shares of Reliance Industries Ltd (RIL) today fell more than 2 per cent owing to apprehensions over higher capital expenditure and delay in the commercial launch of 4G services through Reliance Jio Infocomm.

On the BSE, the RIL shares finished with losses of 2.18 per cent, or Rs 22.60, at Rs 1,016.16.

MUMBAI: Reliance Industries is rolling out a cocktail of initiatives to retain talent, allowing career rotation and vertical growth within the oil to telecom conglomerate.

Under its Career Acceleration Program (CAP), the group will allow employees to chart their career growth by changing their business functions after a series of tests and interviews. The 'Step Up' programme will help an employee grow within the same function, with him getting some mentoring to gear up for the next level quickly.

Elephants can dance, going by Reliance Industries’ (RIL) performance in FY16. After five years, the country’s largest private sector company by revenue has reported double-digit growth in earnings. RIL, battling headwinds in most of its businesses, has exited FY16 with 17.2 per cent growth in earnings from the previous year.

The earnings trajectory has been driven by strong growth in both the refining and petrochemical businesses. At $10.8/barrel, RIL’s gross refining margin (GRM) has hit a seven-year high and throughput has touched a record 69.6 million tonnes (mt).

Reliance Industries-backed startup programme GenNext Hub today entered into a partnership with Invest Ottawa for creating a bridge to engage innovative startups from both India and Canada.

The memorandum of understanding, includes co-branding, events invitation and information sharing between the two entities.

Reliance Industries (RIL) on Monday said the SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance and inspection for about 3 weeks from May 1.

"The SEZ refinery of the company is planning to shut down one crude distillation unit for routine maintenance and inspection (M&l) activities from May 1, 2016, for about 3 weeks," RIL said in a BSE filing.

A joint venture led by Reliance Industries and BG Group has agreed to hand drilling infrastructure from an abandoned gas field to ONGC, their junior partner, helping the state-run group develop a large gas reserve nearby, two company sources said.

Executives from Reliance, BG and ONGC signed an agreement in New Delhi on Tuesday night — providing respite in a months-long battle between the partners over the cost of closing the Tapti field off India's west coast.

The Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday floated an Expression of Interest (EoI) to develop its oil and gas blocks, including some of the discoveries in the KG-D6 block off the coast of Andhra Pradesh.

RIL is eligible to a higher price for natural gas produced from these discoveries under the new norms if it withdraws arbitration proceedings against the government. RIL currently has four blocks, though development programmes in both the KG-D6 and NEC blocks was on hold, waiting for clarity on the gas price.

The arbitration case involving Reliance Industries (RIL)-BP Plc against the government may see an end, as the companies are said to be considering dropping the case, Mint reported on Monday.

Both the companies are in talks with the government to drop the arbitration, the report added, citing an official from the oil ministry. In fact, they had met oil minister Dharmendra Pradhan in the first week of April, the newspaper reported.

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