Reliance Industries Limited (RIL) Related news

RIL, BP on way to end dispute with government

MUMBAI|NEW DELHI: Reliance Industries (RIL) and joint venture partner BP Plc are moving towards ending their dispute with the government on gas pricing, but are yet to officially approve the proposal for it, industry sources said. RIL and BP declined to comment on the matter.

RIL, BP and their partner Canada's Niko Resources are contemplating pulling out of the arbitration against the government as the government's policy changes announced in March requires them to drop the case if they want to accept the higher gas prices being offered.

Reliance Industries seeks pricing, marketing freedom for CBM output

Private explorer Reliance Industries (RIL), which is targeting to start production of coal bed methane (CBM) from its Sohagpur (West) block in Madhya Pradesh in FY17, has sought marketing and pricing freedom for the commodity.

On May 17, petroleum minister Dharmendra Pradhan reviewed the CBM output in the country that is still lagging way behind targets with the output being a meagre one million standard cubic metres per day (mmscmd).

RIL gives 8-10% hike to 20,000 junior & mid-level managers, 100% bonus to some

MUMBAI: Reliance Industries has started handing out increments and bonuses to its 20,000 employees with junior & middle managers receiving raises of 8-10%. Letters were issued to these employees on Friday, while senior managers will receive theirs along with variable pay this week.

RIL had reported a net profit of Rs 7,398 crore in the March quarter, the highest in eight years. It paid 100% of variable pay or annual cash bonus (ACB) to junior and middle managers.

Gas price issue: RIL to decide on merits of arbitration

Reliance Industries Ltd (RIL) is perusing whether to withdraw a pending arbitration with the government on the gas price issue so that it can benefit from the higher prices.

The company's top management is understood to be looking into two divergent views of whether to drop the arbitration to gain from the near doubling of gas prices or carry on with the two-year-old case. "There is a view in favour of continuing with the case, while a second one favours dropping the arbitration. Both the views have been presented to the top management and the board will take a final call," said a senior executive close to the development. An e-mail sent to the firm remained unanswered.

Jio jitters for RIL scrip

Mumbai, April 25: The shares of Reliance Industries Ltd (RIL) today fell more than 2 per cent owing to apprehensions over higher capital expenditure and delay in the commercial launch of 4G services through Reliance Jio Infocomm.

On the BSE, the RIL shares finished with losses of 2.18 per cent, or Rs 22.60, at Rs 1,016.16.

Reliance Industries takes steps for talent retention

MUMBAI: Reliance Industries is rolling out a cocktail of initiatives to retain talent, allowing career rotation and vertical growth within the oil to telecom conglomerate.

Under its Career Acceleration Program (CAP), the group will allow employees to chart their career growth by changing their business functions after a series of tests and interviews. The 'Step Up' programme will help an employee grow within the same function, with him getting some mentoring to gear up for the next level quickly.

After 5 yrs, RIL back to double-digit growth

Elephants can dance, going by Reliance Industries’ (RIL) performance in FY16. After five years, the country’s largest private sector company by revenue has reported double-digit growth in earnings. RIL, battling headwinds in most of its businesses, has exited FY16 with 17.2 per cent growth in earnings from the previous year.

The earnings trajectory has been driven by strong growth in both the refining and petrochemical businesses. At $10.8/barrel, RIL’s gross refining margin (GRM) has hit a seven-year high and throughput has touched a record 69.6 million tonnes (mt).