Reliance Industrial Infrastructure Ltd (RIIL) has reported a net profit of Rs 4.44 crore for the first quarter of this fiscal, down 20.8% from the year-ago level.

The total revenue, however, rose by 13.9% to Rs 26.54 crore in the quarter, the company said.

Reliance Industries, for a change, has outperformed the broader markets, rebounding from its closing lows of Rs 810 at the end of March 2015 to Rs 1,007 now. Jio’s launch might have helped, but not so much to boost the stock by 24% in less than four months.

While strong gross refining margins (GRM’s) had led to the initial spike despite weak crude prices, investments in core business that will likely boost earnings in another 18 months has given analysts a reason to turn bullish.

Mukesh Ambani’s Reliance Industries Limited (RIL) announced a proposal to sell 32.5 million shares of Network18 Media & Investments Limited (NW18). This is close to 3.1 per cent of the equity capital of NW18. The offer-for-sale will open on Wednesday.

The sale is to bring down the aggregate shareholding of the promoter and promoter group to 75 per cent and increase the public shareholding to 25 per cent, in line with Clause 40A of the listing agreement pursuant to Securities Contract (Regulation) Rules, 1957.

Mukesh Ambani, the richest Indian and Reliance Industries (RIL) chairman and MD, has not taken a pay hike for seven years, but his pay package is over 205 times that of the median employee remuneration at RIL. This ratio stands at 439 times in case of ITC Executive Chairman Y C Deveshar.

The ratio stands much lower at 89 times in case of information technology (IT) major Wipro Chairman and Managing Director Azim Premji, and at 19 times for HDFC Chairman Deepak Parekh for 2014-15.

Europe's Airbus Group and the Mahindra Group have struck a deal to build helicopters jointly as they bid to win an expected wave of orders from the country's armed forces, the companies said in a statement on Friday.

The two groups will form a joint venture in the coming months, aiming to become the first private manufacturer of helicopters in India, the statement said. It did not say how much the two will invest.

New Delhi: Indian businessmen scrambled to showcase many of their existing investment plans and allocations as a response to Prime Minister Narendra Modi’s Digital India initiative, which was launched on Wednesday. By the end of the day, they had announced planned investments of Rs.4.5 trillion, and hires of 1.8 million people, over the next 5-10 years.

The numbers sound highly laudable, but are mostly investments in their own businesses, experts said.

Reliance Industries Ltd (RIL), HDFC Bank and Dr Reddy’s Laboratories are the only three Indian firms to figure in Barclays’ top 111 stock picks from across the world for 2015.

In its ‘Global Top Picks’ report, Barclays has said more than six years into the recovery, the key drivers of the market rally u2013 low inflation, moderate growth and unprecedented monetary support u2013 are set to have a reduced impetus.

New Delhi, June 29 (PTI): Reliance Industries may defer the development of R-Series and other satellite gasfields in the eastern offshore KG-D6 block if the price outlook is uncertain, its junior partner Niko Resources of Canada said.

RIL has made 19 oil and gas discoveries in the KG-DWN-98/3 block in the Bay of Bengal and so far only three - Dhirubhai-1 and 3 gas and MA oil and gasfields - have been brought to production. Multi-billion dollar development plans for five other finds, including the significant R-Series, have been approved.

NEW DELHI: India's Reliance Industries Ltd plans to shut a crude distillation unit (CDU) for a 10-day planned maintenance in the first half of July, it said in a statement on Monday, halving crude processing at its 580,000 barrels per day (bpd) refinery during the shutdown duration.

The export-focussed refinery at the Jamnagar complex in western Gujarat state has two crude distillation units of equal size.

Leading private sector lender HDFC Bank has “exceeded” the single-borrower limits prescribed by Reserve Bank of India (RBI) in case of its credit exposure to corporate giant Reliance Industries (RIL).

The bank, however, said its board of directors approved “the said excess in respect of this exposure” and it was within the 20 per cent ceiling of capital funds. The central bank has fixed the credit exposure ceiling of a bank at 15 per cent of capital funds in the case of a single borrower and at 40 per cent for a borrower group.

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