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Reliance buys an extra 2 mn bbls of Saudi oil for April loading: Report
Posted on 12th March 2020

Reliance Industries Ltd, operator of the world's biggest refining complex, has bought 2 million barrels of additional Saudi oil in a very large crude carrier for loading in April, trade sources said on Thursday.

No immediate comment was available from Reliance.

State-run Saudi Aramco, the world's top oil exporter, has slashed its selling price for April and announced plans to raise output to a record 12.3 million barrels per day (bpd).

RIL jumps 6% post Monday rout as oil prices rise, Macquarie upgrades
Posted on 11th March 2020

Reliance Industries (RIL), the oil-to-telecom behemoth, surged around 6 per cent to Rs 1,178.40 apiece on the BSE on Wednesday after global brokerage firm Macquarie upgraded the stock to 'Neutral'. Moreover, oil prices continued to rise for the second straight day, lifted by hopes that US producers will cut output.

RIL had hit a 52-week low of Rs 1,094.95 on Monday (March 9) owing to crash in crude oil prices after Saudi Arabia and Russia triggered a price war.

Hathway Cable & Datacom, TV18 Broadcast shares jump 20% as RIL announces to consolidate media business
Posted on 18th February 2020
Media stocks such as Hathway Cable & Datacom Limited, TV18 Broadcast, DEN Networks were trading higher in the opening trade on BSE after the Mukesh Ambani’s owned RIL announced a consolidation of its media and distribution businesses spread across multiple entities into Network18. Hathway Cable & Datacom shares hit an upper circuit of 20% to Rs 23.10 apiece on BSE. Among other stocks, DEN Networks shares climbed 10 per cent to Rs 59.50, Network18 Media & Investments surged 4.89 per cent to Rs 30.05 and TV18 Broadcast shares jumped 19.68 per cent to Rs 30.10 apiece. While RIL shares were trading 0.72 per cent lower at 1467.80 apiece.

Reliance launches new road project to counter pushback against plastics
Posted on 29th January 2020

Reliance Industries, India's largest petchem player, is launching a project to use plastics in road construction, amid growing concerns over pollution in the country of 1.3 billion whose major cities are often plagued with smog and litter.

India, which uses about 14 million tonnes of plastic annually, lacks an organized system for management of plastic waste, leading to widespread littering.

Reliance Industries declines 2% as investors book profit post Q3 results
Posted on 20th January 2020

Shares of Reliance Industries (RIL) slipped 2 per cent to Rs 1,546 on the BSE on Monday despite the company logging its highest-ever quarterly consolidated net profit of Rs 11,640 crore for the quarter ended December 31, 2019 (Q3FY20).

The stock has fallen 4 per cent from its early morning high of Rs 1,610 on profit-booking. During the past four months, RIL has outperformed the market by surging 32 per cent, as compared to a 15 per cent rise in the S&P BSE Sensex till Friday. It touched an all-time high of Rs 1,618 on December 20, 2019.

Oil-linked stocks trade weak as oil prices continue to surge; HPCL down 5%
Posted on 6th January 2020

Shares of oil & gas companies, tyre, paint, and aviation firms were under pressure on Monday as oil prices continued to surge after US President Donald Trump issued a threat to impose sanctions on Iraq amid escalating tensions with Iran in the Middle East.

At 09:40 am, Brent crude futures were trading 2.70 per cent higher at 70.45 USD/bbl while WTI Crude Oil (Nymex) were trading at 64.54 USD/bbl, up over 2 per cent.

Mukesh Ambani's Reliance Retail valued at $34 billion in share swap
Posted on 26th December 2019

A stock swap offer to help shareholders of billionaire Mukesh Ambani’s unlisted retail business monetize their investment has valued the unit at $34 billion.

Share owners in Reliance Retail Ltd. can exchange four shares for one of its listed parent Reliance Industries Ltd., according to a so-called scheme of arrangement posted on the group’s website.

Amid legal battle, ONGC takes over physical control of PMT from RIL & Shell
Posted on 23rd December 2019

Amid clouds over the legal battle regarding $4.5-billion claim by the government towards profit and royalty from Panna, Mukta and Tapti (PMT) fields, state-run Oil and Natural Gas Corporation (ONGC) has physically taken over the PMT fields from Reliance Industries (RIL) and Shell.

The government had approached the Delhi High Court seeking to block RIL’s stake sale plans, including the -$15-billion deal with Saudi Aramco, citing non-payment of an international arbitral award to the tune of $4.5 billion on PMT.

Reliance Industries highest bidder for Reliance Infra tower & fibre assets
Posted on 30th November 2019

Reliance Industries (RIL) has offered to buy out Reliance Infratel for Rs 3,600 crore, payable in 60 days - the highest bid of upfront cash for the company, said sources. Bharti Airtel, said sources involved in the process, has bid much lower at around Rs 1,800 crore.

Reliance Infratel, which controls towers and fibre assets, is one of the three companies that are on offer as part of the process under the Insolvency and Bankruptcy Code (IBC).

Reliance Industries puts off gas bid for the second time to November 15
Posted on 7th November 2019

Mukesh Ambani-promoted Reliance Industries (RIL) on Wednesday postponed bidding for gas it plans to produce from its R-cluster field in the Krishna-Godavari (KG) basin, said sources. This is the second time RIL has changed the bidding date; the new date is now November 15.

Sources in the company said bidders want more time to adapt to the new bidding system. Some added RIL may be facing lack of interest from potential bidders.

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