Moody’s Investors Service estimates Reliance Jio, the mobile carrier run by India’s richest man, may invest as much as $23 billion on capital spending over three to four years as it expands beyond wireless services.

Reliance Jio Infocomm Ltd.’s parent Reliance Industries Ltd. has already spent more than $31 billion to break into India’s mobile-phone market. The 2016 upstart, known as Jio, dislodged rivals and has emerged as the nation’s No. 4 carrier. A Jio spokesman didn’t immediately answer an email with questions about the Moody’s estimate.

Oil-to-telecom conglomerate Reliance Industries (RIL) is expected to report a sequential decline in gross refining margins (GRM), while still maintaining it in double digit. The market is watching out for the telecom division’s performance which surprised the street with an operating profit in the previous quarter.

In a Bloomberg poll, nine analysts estimated the company’s consolidated profit at Rs 84.96 billion against Rs 81.09 billion and seven analysts estimated revenue of Rs1.02 trillion against revenue of Rs 914.81 billion reported in the same quarter a year back.

Calcutta: Reliance Industries has earmarked Rs 5,000-crore investment for Bengal in the coming years to expand its retail and petroleum outlets.

Speaking at the fourth edition of the Bengal Global Business Summit here on Tuesday, RIL chairman Mukesh Ambani outlined an eight-point business expansion agenda for the state across telecom and education as well as fresh investment in other businesses such as retail and petroleum.

RIL Chairman Mukesh Ambani on Tuesday announced Rs 50 billion investment in expanding telecom and petro-retail businesses in West Bengal and said his company is exploring the possibility of setting up a manufacturing facility for mobile phones and set-top boxes.

Speaking at the Bengal Global Business Summit, India's richest man paid lavish compliments to Chief Minister Mamata Banerjee saying that under her leadership "West Bengal is becoming Best Bengal!"

Mukesh Ambani-led Reliance Industries (RIL) is set to sign a memorandum of understanding (MoU) with Israeli tech major mPrest, a global technology provider, during the visit of Israeli Prime Minister Benjamin Netanyahu to India. This could be considered RIL’s move to get deep into the smart city, big data, defence and critical infrastructure space.

This is one of the 10 important MoUs to be signed between Indian and Israeli companies. mPrest is part of the largest-ever business delegation from Israel, which would accompany the Israeli PM, who is arriving on Sunday.

Reliance Industries is likely to see a big cash-flow boost as projects of over $40 billion start to deliver in full swing this fiscal while capex falls, international brokerage house CLSA said today. In a report, CLSA said that the stabilisation of just-commissioned refinery off-gas cracker (ROGC) and petcoke gasification projects would boost EBITDA, PTI reported.

ROGC is the latest addition to the RIL’s portfolio as the world’s first ever and the largest. The ROGC complex is a core component of RIL’s most innovative and world-scale J3 project at its integrated Refinery-Petrochemicals complex at Jamnagar.

Four stocks - Reliance Industries, Bharti Airtel, Maruti Suzuki India and Tata Steel – from the S&P BSE Sensex have rallied more than 75% since December 26, 2016.

The benchmark Sensex ended above its crucial 34,000 level at 34,010.61 on Tuesday, up 31.8% from its one year back level on back of strong an over Rs 1-lakh crore net inflow by the domestic mutual funds. On December 26, 2016, the Sensex had closed at 52-week low of 25,807.10.

Mukesh Ambani-controlled Reliance Industries Ltd (RIL) is said to be in talks for an initial public offering (IPO) for its mobile operator Jio. According to a Bloomberg report, Reliance is holding internal discussions about preparing to list Jio as early as late 2018 or early 2019. An RIL representative approached by Bloomberg for its report declined to comment.

Jio, which hasn’t made a profit since its official launch last year, is aiming to improve its financial performance before any share sale, said Bloomberg quoting people close to the development refusing to be named as the information was private.

ADB’s financing package includes loans and partial risk guarantees for the power generation facility, as well as for the LNG terminal. The total project cost is approximately $1 billion.

“ADB’s partnership with Reliance Power will help Bangladesh scale up its energy infrastructure to sustain and support the country’s economic growth.” Michael Barrow, director-general of ADB’s Private Sector Operations Department, said: “ADB’s role as a direct lender and guarantee provider will enable Reliance Power to mobilize much needed long-term debt financing and will help in attracting new lenders to Bangladesh.”

Mumbai: Reliance Industries Ltd (RIL) has completed the sale of its interest in one of the three shale gas assets to BKV Chelsea LLC.

Reliance Marcellus II LLC, a subsidiary of Reliance Holding USA, and RIL have closed the stake sale in the Marcellus shale gas asset operated by Carrizo Oil and Gas, RIL said in a statement on Friday.

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