Leading private sector lender HDFC Bank has “exceeded” the single-borrower limits prescribed by Reserve Bank of India (RBI) in case of its credit exposure to corporate giant Reliance Industries (RIL).

The bank, however, said its board of directors approved “the said excess in respect of this exposure” and it was within the 20 per cent ceiling of capital funds. The central bank has fixed the credit exposure ceiling of a bank at 15 per cent of capital funds in the case of a single borrower and at 40 per cent for a borrower group.

The Securities and Exchange Board of India (Sebi) has concluded its final hearing in the matter of Reliance Industries and Reliance Petroleum merger, sources have said.

In the matter spanning for eight years the regulator would look to pass a final order in the matter under the charges of Fraudulent and Unfair Trade Practices (FUTP).

The Securities and Exchange Board of India (Sebi) has completed its investigation into the eight-year-old case of Reliance Industries’ (RIL) fraudulent and unfair trade practices (FTUP), sources said.

“The investigation has been completed. RIL counsel would be awarded a final hearing in the coming weeks before any conclusion is reached,” said a source.

Did Mukesh Ambani say something unusual at Reliance Industries’ 41st annual general meeting (AGM) last week that resulted in the sharp move of its stock price? The stock has rallied over 12 per cent in the past week, closing at Rs 996.50 on Friday.

Analysts think so. Most of them have either upgraded their recommendation or have changed their price target.

Did Mukesh Ambani say something unusual at RIL's 41st annual general meeting last week that has resulted in the sharp move of its stock price? The stock has rallied nearly 12% in the last one week and is trading at Rs 993 levels currently.

Analysts do feel so. Most of them have either upgraded their recommendation or have changed their price target.

Shares of Reliance Industries (RIL) has moved higher by 5% to Rs 974, extending its in past four day’s rally on the NSE, after the company said Jio and retail will place Reliance in a select group of most valuable companies in the world.

Currently, the stock trading at its highest level since December 2014 and rallied 11% in past one-week from Rs 877 on June 11, 2015. The CNX Nifty gained 2.3% during the same period.

First it was the textile business. Then came petrochemicals and then oil & gas. Now, retail and telecom are the trend. Reliance Industries (RIL), India's largest private sector company, has been changing its own focus to keep pace with the changing times.

“We don’t want be called a lala (traditional family-managed) company. Every five-to-six years, one has to re-discover. If we don’t, we will be lagging behind. Had RIL been a textile company even now, it would have perished like many other textile players have,” said an RIL official.

The Street is cautious about the prospects of Reliance Industries’ (RIL) telecom service launch and its ability to achieve early break-even. In addition, monetisation of the domestic exploration and production (E&P) business is a few years away. Lower oil and gas prices also suggest that the near-term prospects of overall E&P are muted. Analysts say, in the initial phase, Reliance Jio is expected to be a drag on RIL’s profits. This is due to high depreciation and interest costs accompanied by initial expenses of launch and ramp-up, all of which will be much more than the telecom business Ebitda (earnings before interest, taxes, depreciation and amortisation) generated, even if adoption is relatively quick.

MUMBAI: India's richest man Mukesh Ambani, owner of energy-to-retail conglomerate Reliance Industries (RIL), will launch fourth generation (4G) telecommunications services by December this year as he promises to offer 4G-enabled handsets for less than Rs 4,000 along with voice and data monthly plans between Rs 300 and Rs 500. The aim is to reach 10 crore consumers within the first year of launch. Reliance's 4G service will offer high-speed internet at 1/10th the cost of the current plans available in the market.

Reliance Industries will begin commercial operations of its much-awaited 4G telecom services by December, while it plans to complete projects worth over Rs 2 lakh crore in the core oil and petrochemical businesses over the next 12-18 months, Chairman Mukesh Ambani said today.

Looking to reap full benefits of these investments from the financial year 2016-17 onwards, Ambani said RIL would have a unique portfolio of globally competitive petrochemical and refining business with a new age India-centric consumer business with very high growth potential.

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