Reliance Industries Limited

Reliance Industries to raise $1 billion through foreign currency bonds

Reliance Industries to raise $1 billion through foreign currency bondsAccording to a report, Reliance Industries might be planning to raise than $1 billion in foreign currency convertible bonds in the coming month.

The company has already appointed Citibank, Bank of America Corp and UBS AG as the merchant bankers for the proposed 10-year bond issue, according to the report that quoted sources in the banking sector. The banking officials have spoken on the condition of anonymity because the band issue has not been officially announced yet.

RIL cancels plans to acquire stake in Bharti AXA Insurance

RIL cancels plans to acquire stake in Bharti AXA InsuranceBillionaire business, Mukesh Ambani-led Reliance Industries (RIL) has said that its has called of a deal on the planned acquisition Bharti’s 74% stake in Bharti AXA Life Insurance Company and Bharti AXA General Insurance Company.

The deal has been cancelled mutually along with France’s AXA as the two parties were unable to reach an agreement on the long term vision and joint governance of the ventures, according to a statement from the companies. France’s AXA holds the remaining 26% stake in the two insurance companies.

Reliance rubbishes repots suggesting stake buy in Kingfisher

Reliance rubbishes repots suggesting stake buy in Kingfisher Reliance Industries has rubbished reports suggesting that it is holding discussions to purchase a stake in Kingfisher airlines, which is facing a severe debt burden and shortage of funds.

According to a report in the Business Line newspaper, Reliance is considering a financial investment or might buy a stake through a preferential offer by the cash-strapped airlines. The report said that Reliance has approached a merchant banker to carry out due diligence of the carrier.

RIL unit acquires 38.5% Stake in COMPSExtramarks Education

RIL unit acquires 38.5% Stake in COMPSExtramarks Education A unit of the Mukesh Ambani-run Reliance Industries Ltd (RIL) has acquired 38.5% stake in COMPSExtramarks Education Private Limited, according to the company.

Reliance Strategic Investments made the fresh investment into the firm. Reliance Strategic Investments is a affliate of a group subsidiary, Infotel Broadband Services. Reliance Industries had acquired 95% stake in Infotel Broadband for Rs 4,800 crore last year and had converted it into one of its subsidiary.

RIL to collaborate with Reliance Communications

RIL to collaborate with Reliance CommunicationsMukesh Ambani-led Reliance Industries (RIL) is most likely to use the towers and fibre optic cables of Reliance Communications, according to a report by Economic Times.

The shares of RCOM gained after the news about a possible collaboration surfaced. RIL could use the telecom assets of the ADAG company to launch its own wireless services in the country. Reliance Industries is reportedly planning to launch cheaper tablet devices for Rs. 6,000 a piece. And will support the tablet with telecom infrastructure of Rcom in the country.

Mukesh Ambani keeping away from Antilia

Mukesh Ambani keeping away from Antilia Billionaire businessman, Mukesh Ambani had not moved into his new house in Mumbai even after it was completed last year, sparking many rumors about why he is yet to occupy the lavish building.

As the extravagant 27-story new house remains vacant, there are rumors that the elder Ambani is keeping away from the home named, Antilia because the building does not conform to the ancient Indian architectural doctrine known as Vastu Shastra.

Mukesh Ambani, the Visionary, Eyes World Market

Mukesh AmbaniIt was revealed by Mr. Mukesh Ambani, the owner of Reliance industries in India that he is looking for expansion all over the world. He is of the view that he shall take his firm all across the world, with the same zest and courage he made an empire for himself, starting from ground zero.

Reliance Industries scrip falls on CAG's criticism

Reliance Industries scrip falls on CAG's criticismMumbai, Sep 8 : After the nation's official auditor accused it of violating production sharing contracts Thursday, the Reliance Industries (RIL) scrip fell 2.12 percent in intra-day trade at the Bombay Stock Exchange (BSE).

The scrip fell to the intra-day low of Rs. 814 around noon, down 2.12 percent from its previous close at Rs. 831.70.

It later recovered a bit and was ruling 0.66 percent down at Rs. 826.20.

CAG Report Indicts Reliance on Many Points

CAG Report Indicts Reliance on Many PointsOn Thursday, the Comptroller & Auditor General issued its report in the parliament. The report highlighted that Reliance Industries did not work accordingly as it dishonored some of the terms of its production sharing contract, which was done over the company’s blocks in the KG Basin off India's east coast.

According to the issued CAG report, it necessitated Reliance to give at least 25% to each of the contract area until which it was not permitted to enter the second and third exploration phases of the blocks.

RIL, Infosys Support Indian Market, BSE Up by 149 Points

RIL, Infosys Support Indian Market, BSE Up by 149 PointsFollowing a fall of just over 100 points yesterday, the Bombay Stock Exchange 30-share index showed some resilience today, as it was told that the BSE benchmark Sensex moved up by 149 points to 16,862.81.

Perhaps the rally was triggered by high buying activity by investors in the shares of biggies like Reliance Industries and Infosys. However, if market experts are to be heard, positive opening in the embattled European market in addition to ramped activity at lower end in some of the robust shares had given the much deserved push to the Indian market.

Reliance Industries Announce Completion of Its 30% Stake

Reliance Industries Announce Completion of Its 30% StakeToday, renowned Reliance Industries has notified completion of its 30% stake grouped under 21 oil and gas blocks such as showcase KG-D6 block and British energy BP Plc for more than USD 7 billion. In a statement, the Company Chairman and Managing Director, Mukesh Ambani, said that the deal completion has played a role to smoothen the implementation of its strategic alliance in India with BP.

ONGC Reaches the Second Position and Reliance Industries Slips to Third

ONGC Reaches the Second Position and Reliance Industries Slips to ThirdReliance Industries slips to the third position as ONGC has claimed itself on the second position in terms of market capitalization, as its shares rose by 0.78% at Rs. 278 on BSE.

In the meantime, the BSE Sensex dropped 326.07 points, or 1.98%, to 16,143.72. ONGC through market capitalization has an equity capital of Rs. 4277.74 crore and the face value of it’s per share has been Rs. 5.

Government Approves $7.2 Billion Reliance BP Deal

Government Approves $7.2 Billion Reliance BP DealReliance Industries Ltd (RIL) has announced that the government has approved its $7.2 billion deal with global energy major BP. This deal will ensure that the latter will be taking the 30% stake in 21 oil and gas blocks of Mukesh Ambani's company.

Around 23 blocks were sent by reliance for government's approval. However, the government has approved 21 blocks and the other two have been held back due to some technical issues.

CCEA Approves India's Biggest FDI Deal

CCEA Approves India's Biggest FDI DealThe Cabinet Committee on Economic Affairs (CCEA) has finally approved India's biggest FDI deal. Many business giant believed that the USD 7.2 billion deal between Mukesh Ambani-led Reliance Industries (RIL) and British Petroleum (BP) would incise many such planned big deals.

Jagannathan Thunguntla, Equity Head of SMC Capital, in a special dialogue with CNBC-TV18 accounted that the deal had brought tons of cash to the company’s cash-rich balance sheet of the and then the real trigger would be seen, if BP gets next to its technological proficiency.

UK’s BP Purchases Reliance Shares For $7.2 Billion

UK’s BP Purchases Reliance Shares For $7.2 BillionOn Friday, ET Now has reported that the cabinet has approved that UK’s BP will purchase 30 percent shares of Reliance Industries' 23 oil and gas blocks including the showpiece KG-D6 gas fields, for $7.2 billion. UK’s BP has to prepare a bank guarantee and performance guarantee as required under the production-sharing contract.

Reliance, Offshore KG-D6 Gas Field Development Costs Less Than GSPC and ONGC

Reliance, Offshore KG-D6 Gas Field Development Costs Less Than GSPC and ONGCAccording to reports, Reliance industries’ eastern offshore KG-D6 gas field development costs less than the amount the Gujarat government company GSPC and the state’s ONGC spend on projects in the area of its KG basin find.

Executives of Reliance Industries Meets CAG Officials

Executives of Reliance Industries Meets CAG OfficialsThe executives of Reliance Industries held a meeting with Comptroller and Auditor General (CAG) officials today, to discuss KG-D6 gas fields. The team of Reliance Industries was led by Reliance Executive Director, P M S Prasad, who explained the observations of CAG d mentioned in the draft report.

The CAG is holding Exit Conference with private firms and the oil ministry before finalizing the audit report on Reliance's KG-D6 gas field, Cairn's Rajasthan oil block and BG's Panna-Mukta and Tapti oil and gas fields.

Reliance Industries Will Announce New Management Appointments, Sources Claim

Reliance Industries Will Announce New Management Appointments, Sources ClaimRenowned Reliance Industries Limited credits to be the India's biggest company by market value which operates more than 1,000 retail stores all over the India with different categories including food and grocery, apparels and footwear, IT products, consumer electronics and joint ventures with international brands.

Oil Ministry Directing CAG to Allow Private Operators to Present Their Views

Oil Ministry Directing CAG to Allow Private Operators to Present Their ViewsReliance Industries and oil explorer, Cairn India have been denied an opportunity to present their views on the audit objections.

The CAG has suggested that the ministry and its technical arm, the Directorate General of Hydrocarbons, are not much considerate about increase in capital expenditure and giving additional area in violation of the Production Sharing Contracts (PSCs).

Infosys, ICICI Bank, ITC and ONGC Shares Reported Huge Fluctuations

Infosys, ICICI Bank, ITC and ONGC Shares Reported Huge FluctuationsReliance Industries were observed to be rushing around 3%, soon after the Oil Minister submitted a suggestion to the Empowered Group of Minister (EGOM) for fuel price hike. In addition to this, Infosys, ICICI Bank, ITC and ONGC shares have also reported huge fluctuations.




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