The private companies of Reliance Industries Chairman Mukesh Ambani saw a slowdown in growth in fiscal 2014, courtesy a slowing economy and fall in gas production.

Of Ambani's three main private operating companies, Reliance Gas & Transportation, the gas pipeline company, widened its loss to a record high of Rs 3,400 crore in fiscal 2014 from Rs 900 crore loss in FY2013, as gas production from RIL's Krishna Godavari basin fell over the years.

Mumbai: The 30-share bellwether BSE Sensex was trading marginally down ahead of Reserve Bank of India’s (RBI’s) bi-monthly policy due later on Tuesday.

RBI will release its monetary policy at 11am. RBI to maintain repurchase rate at 8% to shield the rupee from potential increases in US borrowing costs and sustain a fight against inflation, all 51 analysts in a Bloomberg survey predict. The government will also announce fiscal deficit data on Tuesday.

Global ratings agency Standard & Poor’s on Friday upped its outlook for Reliance Industries (RIL), Oil & Natural Gas Corp (ONGC), Tata Consultancy Services (TCS) and seven other Indian firms from negative to stable following similar action on India’s sovereign credit rating.

The rating agency — which revised its outlook on India from negative to stable — has revised the outlook for Reliance Industries to stable from negative while affirming the company's rating as BBB+, two notches higher than India's sovereign rating of BBB-.

The recent 1,000 point correction in the S&P BSE Sensex from its record high has seen 109 stocks from BSE-500 index hit their respective three-month low level.

Reliance Industries, Hindalco Industries, Tata Steel, Larsen and Toubro, BHEL, DLF, Tata Power Company, Reliance Infrastructure, Cairn India and Reliance Capital are among few notable shares touched three-month low on BSE during the current week.

For the first time, the 100 richest tycoons in India are all billionaires, with Mukesh Ambani topping the league, according to Forbes.

With a net worth of $23.6 billion, up $2.6 billion from past year, Reliance Industries chief Mukesh Ambani topped the list for an eighth consecutive year. Ambani was followed by Dilip Shanghvi, founder of Sun Pharmaceutical Industries, who got richer by $4.1 billion this year. Shanghvi is at number 2, after he displaced steel baron Lakshmi Mittal ($15.8 billion), who slipped to fifth place.

Mukesh Ambani-controlled Reliance Jio Infocomm, on Thursday, said it had raised $750 million as a loan backed by Korea Exim Bank, to partly fund infrastructure spending.

The loan is guaranteed by Reliance Industries and will be primarily used to finance goods and services procured from Samsung Electronics for the infrastructure roll-out of Reliance Jio, the company stated. The loan is for 12 years that includes a two-year availability period and repayable over 10 years thereafter. This is the first loan between Reliance group and Korea Exim Bank. The deal is Korea Exim Bank’s largest telecom infrastructure financing till date and the largest deal in India.

Reliance Industries chairman Mukesh Ambani, committing himself to PM Narendra Modi's 'Make In India' project, on Thursday said the long term GDP growth potential of india is eight to ten percent and that India is poised on high growth trajectory.

Ambani said 'Make in India'is a coinage typical of "narendra bhai modiji". It is about present and future, and not past as described by "made in India".

Domestic gas producers will have to wait for 45 days more to get some clarity on the new gas price, with the government saying on Wednesday that it had deferred the much-awaited decision on new pricing guidelines till November 15. Since it assumed power in May this year, this is the second time the National Democratic Alliance government has postponed its decision on the crucial issue.

“The decision has been extended till November 15. It is part of the decision-making process,” telecom and law minister Ravi Shankar Prasad told reporters after a Cabinet meeting. When asked the reason for the deferment, Prasad said: “I am surprised we are focusing on this when so many other important decisions have been taken today (Wednesday).”

Markets opened marginally higher led by oil and select financials but upside gains are likely to be capped ahead of the expiry of September derivative contracts tomorrow. Further, selling by foreign funds also weighed on sentiment.

At 9:35AM, the 30-share Sensex was up 40 points at 26,816 and the 50-share Nifty was up 15 points at 8,032.

The Securities and Exchange Board of India (Sebi) has sought additional information from Reliance Industries (RIL) on the takeover of Network18 and TV18 Broadcast. The two firms, which are being taken over by RIL through its Independent Media Trust (IMT), control an array of media properties, including leading business and general news channels CNBC TV18 and CNN-IBN.

"Sebi has sought additional information from time to time, which has been provided," RIL told Business Standard in response to an email query seeking comments. "Sebi has not asked for any revision of offer price," the RIL spokesman added.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.