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Reliance Industries Limited (RIL) Related news

Reliance Industries hits record high; market-cap nears Rs 15 trillion mark

Reliance Industries hits record high; market-cap nears Rs 15 trillion mark

Shares of Reliance Industries (RIL) hit a record high of Rs 2,218, up 3 per cent on the BSE in the early morning trade on Thursday, with its market-capitalisation (market-cap) nearing Rs 15 trillion. It surpassed its previous high of Rs 2,198.70, touched on July 27, 2020 in intra-day trade.

The stock has gained 5 per cent in the past two trading days after Silver Lake on Wednesday agreed to invest Rs 7,500 crore ($1 billion) into Reliance Retail Ventures (RRVL). Reliance Retail, a subsidiary of RRVL, operates India's largest, fastest growing and most profitable retail business serving close to 640 million footfalls across its around 12,000 stores nationwide.

RIL gains 1% as Silver Lake to invest Rs 7,500 crore in Reliance Retail

RIL gains 1% as Silver Lake to invest Rs 7,500 crore in Reliance Retail

Shares of Reliance Industries (RIL) were up 1.5 per cent to Rs 2,139 on the BSE on Wednesday after the company announced that Silver Lake will invest Rs 7,500 crore into Reliance Retail Ventures Limited (RRVL), a subsidiary of RIL. The stock was trading higher for the third straight day in an otherwise subdued market.

This investment values RRVL at a pre-money equity value of Rs 4.21 trillion. Silver Lake’s investment will translate into a 1.75 per cent equity stake in RRVL on a fully diluted basis, RIL said in a press release.

Reliance in talks to acquire Urban Ladder, Milkbasket, says report

Reliance in talks to acquire Urban Ladder, Milkbasket, says report

In a bid to strengthen its e-commerce position, Reliance Industries (RIL) is in talks to acquire online furniture brand Urban Ladder and milk delivery platform Milkbasket, The Times of India reported.

According to the report, the discussion with Urban Ladder has been going on for the last few months and is now at an advanced stage. People close to discussion pegged the deal at around $30 million including further infusion in the business and earn-out for the management team.

Reliance Industries looks to storm entry-level 4G, 5G smartphone market

Reliance Industries looks to storm entry-level 4G, 5G smartphone market

Four years ago, disbelief rippled through the audience at Reliance’s annual general meeting when Mukesh Ambani said he was launching 4G Volte smartphones under Reliance’s own brand name Lyf at an unbeatable price of Rs 2,999 when the average 4G smartphone at that time cost Rs 4000.

On Tuesday, during the company’s first pandemic-forced virtual annual general meeting, Ambani outlined another vision to disrupt the mobile device market again.

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors

RIL closes four Jio stake sale deals, receives Rs 30,062 cr from investors

After Facebook Inc, Reliance Industries has closed deals to sell a minority stake in its digital arm to four other investors, receiving a total of over Rs 30,062 crore.

In a regulatory filing, Reliance said it has closed the sale of 6.13 per cent stake in Jio Platforms with L Catterton, The Public Investment Fund, Silver Lake and General Atlantic.

RIL net debt to dip with rights issue, Jio stake sale: Morgan Stanley

RIL net debt to dip with rights issue, Jio stake sale: Morgan Stanley

Asset monetisation in Jio Platforms along with the $7 billion rights issue should reduce Reliance Industries Limited's (RIL) net debt by more than half, according to a report by Morgan Stanley.

It said that multiple catalysts are in play with faster than expected deleveraging, improving demand and margin outlook on refining and chemicals, top quartile earnings CAGR of 23 per cent over F20-23, and digitisation, supporting multiples.

Reliance Industries to hold virtual annual general meeting on July 15

Reliance Industries to hold virtual annual general meeting on July 15

Reliance Industries (RIL) on Monday said it will hold a virtual annual general meeting (AGM) on July 15. In a statement to the BSE, the company said it will hold its 43rd AGM through videoconferencing or other audio-visual means , in accordance with the relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

RIL net debt free before schedule; to list retail, telecom biz within 5 yrs

RIL net debt free before schedule; to list retail, telecom biz within 5 yrs

Reliance Industries is net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in almost two months, said group chairman Mukesh Ambani in a statement on Friday.

The statement came after Reliance said on Thursday Saudi Arabia’s Public Investment Fund will buy a 2.32 per cent stake in its digital unit Jio Platforms for Rs 11,367 crore.

Reliance buys an extra 2 mn bbls of Saudi oil for April loading: Report

Reliance buys an extra 2 mn bbls of Saudi oil for April loading: Report

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

RIL jumps 6% post Monday rout as oil prices rise, Macquarie upgrades

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.

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