Markets watchdog Sebi has disposed of adjudication proceedings without imposing any penalty on Reliance Industries Ltd in a matter related to alleged incorrect disclosure of diluted earnings per share in its financial results more than 13 years ago.
Sebi decided not to impose any penalty for the alleged violations mainly on two grounds, including that the amendment to the relevant law that made incorrect disclosure of information by a listed company punishable came into force prospectively from March 2019.
Reliance Industries will by 2030 create or enable capacity to generate at least 100 gigawatts of electricity from renewable sources, which can be converted into carbon-free green hydrogen, its chairman Mukesh Ambani said Friday as he outlined a 1-1-1 vision to bring down the cost of hydrogen to under USD 1 per 1 kg in 1 decade.
The focus on generating electricity from renewable sources of energy such as solar and wind -will help cut carbon emissions in the world's third-largest greenhouse gas emitter.
Benchmark indices logged fresh all-time highs on Thursday amid positive sentiment across the global markets on hopes the US Federal Reserve would maintain its easy monetary stance amid not so encouraging signs of economic recovery.
The BSE Sensex rose 514 points, or 0.9 per cent, to end at 57,852, while the Nifty rose 158 points, or 0.92 per cent, to finish at 17,234. Both indices added nearly 9 per cent each in August, their best monthly showing since November.
Shares of Reliance Industries (RIL) were up nearly 3 per cent at Rs 2,202 on the BSE in intra-day trade on Monday on a report that Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company’s oil refining and chemicals (O2C) business. The stock of the Mukesh Ambani-led RIL was trading at its highest level since June 24, 2021. It had hit a record high of Rs 2,368.80 on September 19, 2020.
The Middle Eastern energy firm is discussing the purchase of roughly 20 per cent stake in the Reliance unit for about $20 billion to $25 billion in Aramco’s shares, Bloomberg reported quoting the people with knowledge of the matter. RIL could reach an agreement with Aramco as soon as the coming weeks, the report suggested.
In light of the ongoing COVID-19 pandemic, Reliance Industries has said that it will continue to provide salaries for five years to the nominee of employees who succumbed to the disease.
In a statement, Reliance further said that under the 'Reliance Family Support and Welfare Scheme', it would fully fund tuition fees, hostel accommodation and books of all the children of the employee, up to bachelors degree at any institute in India.
Reliance Industries (RIL)-promoted Hathway Cable & Datacom will launch an offer for sale (OFS) on Monday -- the second time in a month it will be doing so. The last OFS for Rs 853 crore was partially subscribed.
This month, the company will launch a Rs 442-crore share sale, offloading 205.44 million shares, or an 11.61 per cent stake, at a floor price of Rs 21.50. Promoter group firms that will sell shares include Jio Content Distribution Holdings, Jio Internet Distribution Holdings, and Jio Cable and Broadband Holdings.
Reliance Industries Limited on Friday announced that the company will be rolling out a COVID-19 vaccination programme for its employees and their family members above the age of 18 years from May 1. The vaccination programme is called 'R-Surakshaa'.
In a letter to RIL employees, the Chairman and Managing Director RIL Mukesh Ambani and Chairperson Reliance Foundation Nita Ambani said that the COVID-19 vaccine is a key weapon again the coronavirus and the company has continued to bear the vaccination cost for all the eligible members.
Shares of Reliance Industries (RIL) and Bharti Airtel gained 3 per cent each on the BSE in the intra-day trade on Wednesday after Reliance Jio Infocomm (Reliance Jio) signed a definitive agreement with Bharti Airtel to acquire the right to use spectrum in the 800-megahertz (MHz) band in Andhra Pradesh, Delhi, and Mumbai circles through spectrum trading.
The stock of RIL was up 3 per cent at Rs 2,046, while Bharti Airtel gained 2.7 per cent to quote at Rs 546 on the BSE in the intra-day trade today.
Reliance Industries Ltd has sold three-fourth of the gas from coal seams in Madhya Pradesh to an affiliate of the company at a price of just over $6 at current oil prices.
India Gas Solutions Private Limited, a 50: 50 joint venture of RIL and UK's bp, bought 0.62 million standard cubic meters per day out of 0.82 mmscmd gas bid out in an auction last week, three people with knowledge of the matter said.
Shares of billionaire Mukesh Ambani's Reliance Industries (RIL) rose 2 per cent to hit an intra-day high of Rs 2,048.70 on the BSE after the company said it has begun the process of carving out the O2C business into an independent subsidiary and expects to get the necessary approvals for the same by the second quarter of the next financial year.
The company said the O2C business will be turned into a separate entity that will be 100 per cent owned by RIL and will result in no change in the company's shareholding.
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