New Delhi: India’s Reliance Industries Ltd, owner of the world’s biggest refining complex, plans to halt oil imports from Iran, two sources familiar with the matter said, in a sign that new US sanctions are forcing buyers to shun oil purchases from Tehran.

Reliance’s move, expected to take effect in October or November, came after US President Donald Trump abandoned a 2015 nuclear agreement this month and ordered the reimposition of US sanctions on Tehran.

Mumbai: Reliance Industries Ltd (RIL) has made an investment of Rs10 crore in KareXpert Technologies Pvt. Ltd, an early-stage digital healthcare technology platform, two people aware of the matter said.

The investment was made by RIL’s subsidiary and investment arm, Reliance Industrial Investments and Holdings Ltd (RIIHL).

Global rating agency Fitch on Wednesday affirmed Reliance Industries' long-term foreign-currency rating at BBB-, with a stable outlook.

RIL's rating is supported by its strong business profile, which is driven by its robust refining and petrochemical operations, the agency said in a note.

Reliance Indutries (RIL) fell over 2% after the company’s consolidated finance cost jump to Rs 25.66 billion as against Rs 5.56 billion in the last quarter of 2016-17, and Rs 21 billion in the December 2017 quarter.

The company reported a consolidated net profit of Rs 94.35 billion for the quarter ending March 31 (Q4) on the back of improved performance of its petrochemical and retail businesses.

Reliance Industries (RIL) posted a better-than-expected financial performance for the January-March quarter of 2018, led by strong performance from the petrochemical, refining, retail and telecom businesses.

Net profit for the March quarter increased 17.3% year-on-year to Rs 9,435 crore, while revenue from operations (net of excise) increased by 37.83% to Rs 1,16,915 crore, largely led by increase in volumes with the start-up of new petrochemicals projects,

Shares of Reliance Industries (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the BSE in early morning trade on the BSE, ahead of its January-March quarter (Q4FY18) results today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal.

Textiles to telecom conglomerate, RIL is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100 billion mark.

In a re-jigging of its store network, Reliance Retail has shut around 100 Reliance Fresh stores over the past two years or so, with the shutters having been downed for 20 of them in the past 12 months. The move, coupled with new stores in more attractive catchment areas, should help arrest losses.

At a time when the policy repo rate is at 6 per cent and three-month government treasury bills are trading at 6.15 per cent, India’s biggest company, Reliance Industries, raised Rs 15 billion of three-month money on Monday at 7.1 per cent.

About the same time last year, Reliance was raising money for two to three months at 6.13-6.15 per cent, much closer to the prevailing treasury bill rate. On Tuesday, Godrej Industries raised money through three-month commercial paper at 7.12 per cent.

Shares of Mukesh Ambani-controlled Reliance Industries Ltd surged nearly 4% on Tuesday emerging as the top gainers on BSE Sensex after Reliance Jio Infocomm Ltd outperformed India’s largest telecom company Bharti Airtel Ltd and Idea Cellular Ltd in monthly subscriber addition in the month of February. According to the data released by the telecom regulator TRAI (Telecom Regulatory Authority of India) on Tuesday, Reliance Jio Infocomm added about 87.4 lakh new subscribers in February.

Mukesh Ambani's Reliance Industries (RIL) and global energy major BP said the two companies had sanctioned the second phase of integrated development for their D6 oil and gas block in the Krishna-Godavari (KG) basin.

"The companies are moving forward to develop the block's discovered deepwater gas fields in an integrated series of projects, bringing new gas production for India," it was stated. This 'satellite cluster' is the second of three projects in the KG-D6 block's integrated development.

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