India’s largest corporate entity, Reliance Industries Ltd (RIL), is set to sell its 45 per cent stake in a shale gas joint venture with Pioneer Natural Resources at Eagle Ford, US, by next week at a far lower valuation than its initial expectation of $4.5 billion. The drop in valuation is largely due to the fall in prices of crude oil since the sale process began last year, as well as concern about damage to the environment due to fracking in the US.

Now, RIL’s stake is likely to be valued at about $4 billion.

Reliance Infrastructure, the infra arm of the Reliance Group, has posted a 26% year-on-year decline in consolidated net profit for the quarter ended March 31, 2015 at Rs 459 crore on account of flat operating income and higher finance costs.

The company’s consolidated total operating income decreased nearly 2% year-on-year to Rs 4,618 crore as the income from power business declined 13.5%, while income from EPC and contract business fell by 5% during the quarter.

Tata Motors has closed the revenue gap with Reliance Industries Ltd (RIL). While RIL remains the country’s largest private sector company by revenue (including other income), Tata Motors topped the chart by core revenue (net sales) in the fourth quarter ended March. The country’s top automobile maker reported net sales of Rs 67,576 crore in the quarter, against RIL’s consolidated net sales of Rs 67,470 crore.

With total revenue of Rs 69,642 crore, however, RIL remains ahead of the auto maker. In the quarter, RIL reported other income of Rs 2,172 crore, far higher than Tata Motors' other income of Rs 245 crore. RIL is also more profitable than Tata Motors.

Mumbai: Mukesh Ambani’s Reliance Industries Ltd (RIL), which runs the world’s biggest single-location refinery at Jamnagar in Gujarat, more than doubled its product and feedstock hedging in the last fiscal year as a volatile crude exposed risks of huge inventory losses for crude oil refiners.

In 2014-15, RIL hedged a total of 308.71 million barrels annually or 0.85 million barrels per day (bpd) of its feedstock. This is against a total crude oil consumption of 1.32 million bpd that the company needs to run its refinery. This is more than double what RIL hedged in 2013-14, at 150.95 million barrels a year or 0.42 million bpd, according to the standalone numbers in the firm’s annual report released last Wednesday.

Reliance Industries Ltd (RIL) plans to fully resume its petrol pump network by March next year. The government, after ending diesel subsidies, has given it a level- playing field to compete with state-owned retailers.

“Reliance plans to re-commission the entire network of 1,400 outlets by the end of financial year 2015-16. As on March 31, 2015, over 300 outlets are operational,” the company said in its latest annual report.

Reliance Industries and its partner BP plc have surrendered two more oil and gas blocks, reducing their tally to four exploration acreages from 21 they held four years back.

"During the year, RIL opted to relinquish two blocks KG-DWN-2003/1 and CY-PR-DWN-2001/3 as part of the ongoing effort to high grade its upstream asset portfolio," the company said in its annual report for 2014-15.

Mumbai, May 19: Reliance Industries Ltd (RIL) today said it has raised $200 million by selling Formosa Bonds in Taiwan.

These are bonds that are issued in Taiwan, but are denominated in a currency other than the new Taiwanese dollar.

MUMBAI: After Dimsum, Sushi, Samurai, Rolex, Kangaroo, Bulldog or even Dragon it's now the turn of Formosa bonds. Reliance IndustriesBSE 0.56 % - India's savviest as well as the largest borrower overseas - has just raised $200 million through a fresh bond issuance in the hottest bond market in Asia Taiwan.

According to to multiple sources directly involved with the transaction, RIL has raised 20 year debt paper on Monday, the first from India Inc to do so. Incidentally, RIL will also be the first Asian energy company to tap the Formosa market.

A year after Reliance Industries Limited (RIL) moved Delhi High Court seeking to quash an FIR registered against them by Anti-Corruption Bureau, the CEO of the same firm on Wednesday was finally questioned by the probe agency.

According to senior officials of the ACB, PMS Prasad, CEO of RIL and two senior officials of the firm were questioned at their Civil Lines office in the Krishna-Godavari Basin case, which was rechristened as the "gas pricing scam" by the current chief minister of New Delhi, Arvind Kejriwal.

Mumbai: Reliance Jio Infocomm Ltd (RJio), a subsidiary of Reliance Industries Ltd (RIL), has raised $750 million (around Rs.4,815 crore today) from a Korean lender to fund its ongoing network roll-out under its fourth-generation (4G) telecom licence in India.

The loan, backed by export credit agency Korea Trade Insurance Corporation (K-Sure), was raised on 7 May and is guaranteed by RIL. It will be used to finance goods and services procured from two of its main vendors—Samsung Electronics Co. Ltd and Ace Technologies Corp.

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