Reliance Industries and its partner BP plc of UK have submitted to the government a $2 -2.5 billion plan to bring to production India's deepest gas discovery by 2021-22.

The partners yesterday submitted to the Directorate General of Hydrocarbons (DGH) a field development plan (FDP) for the MJ-1 gas find, which is located about 2,000 meters directly below the currently producing Dhirubhai-1 and 3 (D1 and D3) fields in the eastern offshore KG-D6 block, sources with direct knowledge of the development said.

Reliance Industries (RIL) has had a dream run over the past one year, with its market value almost doubling and the firm leapfrogging 66 places in the league table of the world’s most valuable firms.

The Mukesh Ambani-led firm ranks 111, against last year’s 177, Bloomberg data show. Some of the global majors Reliance overtook include Nike, Starbucks, Vodafone and Volkswagen. It also surpassed TCS, which ranked 122 last year.

Reliance Industries shares hit an all-new lifetime high on Monday and were the biggest contributor in lifting the key benchmark indices to close higher. The market capitalisation of the Indian stock market leader Reliance Industries is just Rs 6,000 crore from hitting the figure of Rs 6 lakh crore. As per today’s close, it stood at Rs 5.94 lakh crore as per today’s close of Rs 938.1 on BSE while it was Rs 5.95 lakh crore. The stock of RIL hit a fresh all-time high today rising by 3.64% to Rs 943.45 before closing up 3.05% at Rs 938.1. In the intraday trade, its market capitalisation topped Rs 5.97 lakh crore on BSE.

Ashok Leyland, Finolex Industries, Havells India, NBCC (India), NIIT Technologies and Petronet LNG are among 21 stocks from the S&P BSE500 index hit new highs today.

Reliance Industries (RIL), Kotak Mahindra Bank, Adani Transmission, Hindalco Industries and Indraprastha Gas are among 21 stocks from the S&P BSE500 index, which hit their respective new highs on the BSE on Wednesday in an otherwise weak market.

Reliance Industries may look at exiting its US shale assets, provided it gets fair value similar to Carrizo asset sold earlier this month, even as the company faces the challenges of low price environment.

Reliance Industries may look at exiting its US shale assets, provided it gets fair value similar to Carrizo asset sold earlier this month, even as the company faces the challenges of low price environment.

With shale gas business becoming uneconomical due to low crude oil prices, India’s largest private sector firm, Reliance Industries (RIL) has said it would sell its remaining shale gas assets in the United States — if any company makes it an “attractive offer”. The Mukesh Ambani-led company has invested almost $9 billion in US since 2010.

During interaction with analysts after its September quarter results on Friday, RIL’s Joint Chief Financial Officer Srikanth Venkatachari said the company was not a distress seller of its shale gas assets and at the same time is not looking to acquire any more assets.

Reliance Industries (RIL) hit a new high of Rs 890, up 1.6% on the BSE in early morning trade, after the company reported a 12.5% increase consolidated net profit at Rs 8,109 crore for the second-quarter ended September 2017 (Q2FY18) on back of higher margins from its core refining and petrochemical businesses. The company had reported profit of Rs 7,206 crore in the same quarter of last fiscal year.

Consolidated revenue increased by 24% to Rs 101,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Reliance Industries on Friday reported a strong set of numbers during the July-September quarter, beating estimates on all fronts. Boosted by strong refining and petrochemicals margins, the company’s consolidated net profit excluding exceptional items increased a sharp 12.5% year-on-year to `8,109 crore. The company announced its earnings after market hours.

Gross refining margins (GRMs) for the country’s largest integrated oil and gas major were at a record nine-year-high of $12 per barrel against $10.10 a barrel in Q2FY17, but below estimates of $12.50 a barrel.

Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Reliance Industries Ltd (RIL) is likely to report an increase in profit for the three months to September, benefiting from higher refining margins that will offset weaker earnings from its petrochemicals business.

Stand-alone quarterly net profit is likely to increase to Rs8,687.5 crore on revenue of Rs66,088 crore, according to a Bloomberg poll of seven analysts.

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