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RIL to set up Rs 1.08-trillion digital arm, work on making Jio debt-free
Posted on 26th October 2019
Reliance Industries (RIL) on Friday announced a structure to make Reliance Jio (RJIL) debt-free, which is seen as a move to pave the way for a likely listing of its telecom business. As part of it, the company intends to transfer its telecom business and other digital initiatives to a wholly-owned subsidiary.

In the new scheme, RJIL’s debt will move to RIL. RJIL’s board approved an arrangement between RJIL and certain classes of its creditors, including debenture holders, for transferring identified liabilities of up to Rs 1.08 trillion to RIL.

Reliance Retail bucks trend as revenue rises 27%; pre-tax profit up 67%
Posted on 19th October 2019
The retail arm of Reliance Industries (RIL) posted a pre-tax profit of Rs 2,322 crore for the quarter ended September 30, (Q2) year-on-year (YoY) growth of nearly 67 per cent as it reaped benefits of scale during the quarter.

This is the second straight quarter that Reliance Retail’s earnings before interest, tax, depreciation, and amortisation (Ebitda) has crossed Rs 2,000 crore.

Reliance Industries hits 9 lakh crore mcap; Mukesh Ambani firm becomes first ever to cross landmark figure
Posted on 18th October 2019
Shares of billionaire Mukesh Ambani-led Reliance Industries touched a fresh record high on Friday, propelling the firm’s market capitalisation to hit the crucial Rs 9 lakh crore mark. The rally in shares came ahead of the Q2 results scheduled to be reported today. Reliance Industries shares jumped by more than 2% to hit the day’s high at Rs 1,428. Reliance Industries market capitalisation has swollen to Rs 9.03 lakh crore, making it India’s most valuable firm by market capitalisation.

Mukesh Ambani’s RIL can become 1st Indian firm to hit $200 bn m-cap in two yrs; these are 3 key drivers
Posted on 16th October 2019
Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) can become the first Indian company to hit $200 billion market capitalisation in the coming two years, a global brokerage said. The commerce and fixed broadband businesses can nearly double the m-cap of India’s largest petrochemical and second-largest oil refining company in the next 24 months from the current $122 billion, news agency PTI reported citing Bank of America Merrill Lynch said in a report.

Reliance Industries puts off gas bid to November 6 on bidders request
Posted on 10th October 2019
Reliance Industries has put off bidding for the new gas it plans to produce from eastern offshore KG-D6 block to next month following a request from potential bidders, sources said.

Reliance and its partner BP Plc of the UK, last month had put out Notice Inviting Offer (NIO) seeking bids from potential users for the 5 million standard cubic meters per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from the second quarter of 2020.

Mukesh Ambani raises stake in Reliance Industries to 48.87 per cent
Posted on 18th September 2019
Billionaire Mukesh Ambani has raised promoter stake in flagship Reliance Industries by 2.71 per cent to 48.87 per cent, according to regulatory filing by the company.

Reliance Services and Holdings Ltd, controlled by promoter group firm Petroleum Trust, acquired 17.18 crore or 2.71 per cent stake in Reliance on September 13, it said.

Reliance Industries to infuse Rs 140.35 crore into JioSaavn
Posted on 11th September 2019
JioSaavn has received capital infusion of Rs 140.35 crore from parent firm Reliance Industries, according to documents sourced from business signals platform

In 2018, Reliance Industries had announced the merger of its digital music service JioMusic with audio over-the-top (OTT) platform Saavn. The valuation of the combined entity is pegged at over $1 billion, the company had said.

RIL plans Diwali launch of ‘new commerce’ venture
Posted on 26th August 2019
Billionaire Mukesh Ambani’s Reliance Retail Ltd could launch its “new commerce" venture around Diwali, three industry officials aware of the plans said.

New commerce is Reliance Retail’s offline-to-online initiative, which would link producers, traders, small merchants, brands and consumers through technology. The company, the retail arm of Reliance Industries Ltd (RIL), has been working on its new commerce plan for nearly two years.

Reliance Industries' $4-bn investment threatened by global natural gas glut
Posted on 21st August 2019
A global glut in natural gas is threatening to undermine a $4 billion investment by Reliance Industries Ltd aimed at boosting profits at the world’s largest oil refining complex.

The project made all the sense in the world when energy magnate Mukesh Ambani’s conglomerate announced it in 2012: convert petroleum coke, or petcoke, one of the cheapest and dirtiest refinery by-products, into gas needed to power the massive Jamnagar complex on India’s west coast.

Fitch Ratings raises Reliance's outlook to positive
Posted on 16th August 2019
New Delhi: Fitch Ratings on Friday raised the outlook on Reliance Industries Ltd (RIL) to positive from stable due to the company's potential to further deleverage following its announcement to eliminate its net debt by March 2021.

In a statement, Fitch said it is revising "the outlook on RIL's Long-Term Local-Currency issuer default rating (IDR) to Positive from Stable and has affirmed the rating at 'BBB'."

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