Reliance Industries Limited (RIL) Related news

A third of BSE 500 stocks back to Manmohan era

The BSE benchmark Sensex seems to be under-reporting the extent of pain gripping the broader market. Nearly a third of the BSE 500 companies (176 stocks) have lost all the gains they made since the Narendra Modi-led government took charge at the Centre on May 26 last year. And, more than 10 per cent (40 of 498 companies) have lost at least half their market value during the past 15 months.

The biggest losers have been infrastructure companies, metal makers, power generators, sugar companies, real estate developers and oil & gas companies, among others. The losses came at a time when, incidentally, infra and capital expenditure-related companies were supposed to be the biggest beneficiaries of the Modi government's infra spending push.

Reliance Jio rolls out Wi-Fi services at select locations in Bhubaneswar

Reliance Jio Infocomm Ltd (RJIL), a subsidiary of Reliance Industries Ltd (RIL), has rolled out its 'Jionet' High Speed Wi-Fi Internet service at select locations in Bhubaneswar.

The service is available at four locations, including Odisha University of Agriculture & Technology (OUAT), Surya Nagar, Gopabandhu Chowk and Governor House Road, covering popular areas like Reliance Fresh Retail outlet, Gopabandhu market complex and ICICI Bank.

RIL raises $225 million through overseas bond issue

Reliance Industries has raised $225 million (approx Rs 1,468 crore) through overseas bond issue due in 2026, guaranteed by the Export-Import Bank of the United States.

In a statement the company said it has "priced an offering of $225 million, 2.512% on notes due in 2026 guaranteed by the Export-Import Bank of the United States."

RIL, telcos among 11 firms to launch payments banks

The Reserve Bank of India (RBI) on Wednesday allowed 11 business houses, including Reliance Industries, the Aditya Birla group and leading telecom companies Airtel and Vodafone to start payments banks.

Bharti Airtel and Reliance Industries had earlier tied up with Kotak Mahindra Bank and State Bank of India, respectively, for payments bank operations.

Government accuses RIL of armtwisting over natural gas pricing norms

NEW DELHI: The Narendra Modi government has accused Reliance Industries of armtwisting it into implementing the January 2014 guidelines on natural gas pricing by slapping a notice declaring its intention to pursue international arbitration to break the deadlock on the issue.

In fresh submissions filed in the Supreme Court on Monday, the government suggested that the issue of gas pricing was not subject to international arbitration as it was an economic decision, which could not even be scrutinised by the domestic courts.

Bharti Airtel launches pan-India 4G services ahead of RIL; data pack starts at Rs 25

To be ahead of Reliance Industries in the 4G battle, Bharti Airtel on Thursday announced the commercial launch of 4G services in 296 towns across India after testing the market in select cities. Reliance Industries plans to start pan-India 4G services in December. Bharti Airtel has exclusively partnered with Samsung to roll out this service.

Airtel customers can enjoy 4G at 3G data prices with packs starting at Rs 25, the company said.

RIL's share of profit from investments slips to 29%

A shift in investment from bank deposits to instruments like mutual funds and government securities has trimmed treasury profit for Reliance Industries to just over 29 per cent of the net income in the June quarter, from 40 per cent for many quarters.

Trading profit, which used to average around 40 per cent in the past years, has narrowed to just about Rs 1,832 crore which is 29.4 per cent of the overall net income of Rs 6,222 crore in the quarter to June of the firm, according to the Q1 numbers released by it.

RIL Q1 net up 4.4% at Rs 6,222 cr as GRM hits 6-year high

Riding on six-year high refining margins and strong petrochemicals earnings, Reliance Industries Ltd (RIL) posted a 4.4 per cent increase in consolidated net profit for the June quarter of 2015-16 at Rs 6,222 crore. For the year-ago period, net profit stood at Rs 5,957 crore. The refining and petrochemicals segment contributed 91 per cent to gross sales and 95 per cent to the operating profit, boosting RIL’s overall profitability.

A Bloomberg poll of analysts had expected the firm to post a profit of Rs 6,211 crore, growth of 4.3 per cent.

RIL’s US partner cuts production guidance from shale venture

Mumbai: Pioneer Natural Resources Co., one of the biggest shale gas companies in the US and partner of Mukesh Ambani’s Reliance Industries Ltd (RIL) in the Eagle Ford Shale acreage, has cut the guidance for production of shale gas and oil for the current calendar year from Eagle Ford.

In a note to investors on 23 July, Pioneer said the company had to cut the production guidance in Eagle Ford Shale due to “lower than estimated production” because of technical and weather-related delays in the second quarter of the current calendar year. This led to a drop in the number of wells brought under production in the second quarter.