The government plans to impose an additional penalty of $578 million on Reliance Industries Ltd (RIL) for producing less-than-targeted natural gas from its eastern offshore KG-D6 block.

The penalty in the form of disallowing costs incurred on the field would be for missing the target in 2013-14, a government source said. With this, the total costs disallowed will increase to $2.375 billion.

Markets extended gains and were trading near their day's highs led by index heavyweights ITC and Reliance Industries.

At 1:55 PM, the 30-share Sensex was up 25,411 up 380 points and the 50-share Nifty was up 96 points at 7,590.

Reliance Industries ltd is expected to invest Rs. 30,000 crore, of the total Rs. 70,000 crore announced, in its telecom arm Reliance Jio Infocomm over the next two years, credit rating firm Moody’s said on Monday.
The investment in the telecom business is a credit negative for RIL because RJio will not generate any EBITDA (an indicator of cash flows) for at least next 12 months, it said.

Reliance Industries’ announcement of its largest-ever investment plan of $30 billion or Rs 180,000 crore over the next three years, even as it was largely known by the Street, is being looked at in a positive light.

This is despite the near-term pressure it could put on the return ratios. The company had been under pressure to utilise the cash on its books and these investment plans show how it has charted a way forward.

Annual general meetings of Reliance Industries are never dull. This year was no exception.

When Mukesh Ambani, dressed in a white shirt with a red and white check tie and a black coat, walked into the Birla Matoshree auditorium at 10:45 am, there was commotion among shareholders to shake hands with the billionaire who leads India Inc's first family.

Reliance Industries Ltd (RIL), India’s largest private-sector company, will invest Rs 1.8 lakh crore ($30 billion) across businesses — petrochemicals, refining, retail and telecom — over the next three years. The company, aspiring to break into the Fortune 50 club, will also launch its 4G broadband services in 2015 and strengthen its management team.

The benchmark BSE Sensex on Wednesday rose over 54 points in early trade, extending gains for the second straight day, as participants made selective buying in shares of RIL, ONGC, SBI and Infosys.

The 30-share index gained 54.14 points, or 0.21 per cent, to 25,575.33. The gauge had gained 330.71 points in the last session on late heavy fund-based buying.

Less than 24 hours before its annual general meeting, the Mukesh Ambani-led Reliance Industries Ltd (RIL) reached out to its shareholders through a document titled 'India has never been here before. Facts you did not know about KG-D6'.

"This compilation is an attempt to inform and debate with facts so that rhetoric and illogic don't drown out the serious issue of India's energy security," RIL said. In the 38-page report, across 10 chapters, RIL explained how it entered the exploration and production business; the history of the New Exploration and Licensing Policy (Nelp) and the introduction of production-sharing contracts (PSCs).

Mumbai: R eliance Jio Infocomm Ltd, the telecom unit of Mukesh Ambani’s Reliance Industries Ltd (RIL), is setting up 14 data centres across India to create a cloud-computing infrastructure that can take advantage of, and complement, its long-delayed roll-out of fourth generation, or 4G, telecom services, finally expected this year.

The cloud-based services, three company executives familiar with the plan said, will span healthcare, education and entertainment, and build synergies with the home shopping and content businesses of Network18 Media & Investments Ltd, in which RIL is acquiring a majority stake.

Mumbai: The 30-share benchmark S&P BSE Sensex and 50-share CNX Nifty rose to all-time highs in intra-day trade and at close for a second day on Friday as energy shares surged on optimism Prime Minister Narendra Modi will take a decision on raising natural gas prices by the end of this month.

The Sensex closed at a fresh high of 25,396.46 points, up 1.51%, or 376.95 points, while the Nifty ended at a fresh high of 7,583.40, up 1.46%, or 109.30 points.

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