Reliance
Jio's healthy earnings show telecom industry digesting impact of tariff hikes
In December 2021, 20-25 per cent tariff hike was taken by Airtel, Vodafone Idea, and Reliance Jio. Jio's Q4FY22 revenues were up 8 per cent quarter on quarter and 20.4 per cent year on year, aided by 20 per cent tariff hikes, effective from December, and improving customer mix.
Reliance FY22 revenue up 47%, net profit up 26%, announces Rs 8 dividend
The company's annual profit after tax neared the $10 billion mark, as it stood at Rs 67,845 crore ($9 billion) increasing by 26.2 per cent. Annual consolidated EBITDA stood at Rs 125,687 crore ($16.6 billion) up by 28.8 per cent
TA'ZIZ, Reliance sign shareholder agreement Ruwais chemicals project
Reliance is India's largest diversified conglomerate and a strategic partner with Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, in TA'ZIZ EDC & PVC, a world-scale chemicals development at the TA'ZIZ Industrial Chemicals Zone in Ruwais
Local banks rebuffed $3.2 billion offer from Mukesh Ambani's conglomerate: Report
Debt-laden Future Retail Ltd.'s offshore bondholders -- a relatively smaller part of the creditor pool -- were promised 100 per cent payment in the rescue offer from billionaire Mukesh Ambani, according to people with knowledge of the matter. Indian lenders were asked to take a haircut of as much as 66 per cent, the people added, asking not to be identified discussing confidential information, Bloomberg reported.
RIIL's Q4FY22 consolidated net profit down 64.6% YoY
The company's net profit during the quarter under review declined to Rs 1.06 crore from Rs 3 crore in the corresponding period of the previous fiscal. However, the company's total income, which includes 'other income', rose to Rs 19.65 crore from Rs 18.88 crore reported for Q4FY21.
Tender issued for India's first standalone RE storage system
It is a first of its kind tender in the country in such a category which is aimed to provide power distribution companies with storage facilities to be used on an "on-demand" basis. This tender marks the first tranche of the government's immediate target of setting up 4,000 MWh of battery storage capacity as part of achieving increased penetration of renewable energu in the national grid.
Goldman Sachs says 22% upside in RIL stock
RIL is adopting a manufacturing approach to net zero-emissions with a hyper integrated model spanning solar, battery and hydrogen and a focus on net zero supply chain (already spent $1.5 billion to acquire technologies across the solar, battery and hydrogen ecosystems).
Reliance Industries outshines benchmark index, shares rise 14% in 1 month
Shares of Reliance Industries Limited have outperformed the broader market benchmark indices over the past one month. During the said period, the shares of the company rose nearly 14 per cent against a rise of little over 2 per cent in the benchmark Sensex index. The rally in share prices for the Indian company comes amidst volatility in the global financial markets amid geopolitical war and skyrocketing crude oil prices.
Reliance Retail acquires majority stake in innerwear brand Clovia
Launched in 2013, Clovia is India's leading innerwear and loungewear for women. The acquisition entails an investment of Rs 950 crore through a combination of secondary stake purchase and primary investment. The remaining stake in the company will remain with the founding team and management of the company, a statement said.
Future Retail's shares slump to 52-week low after it issues clarification on Reliance deal
The Future Retail was down 9 percent at INR 38.4, the Future Enterprise was down 17 percent at INR 7.45, the Future Lifestyle was down percent at INR 41 and Future Supply Chain Solutions was down 5 percent at INR 53.65. The Supreme Court has also lifted a stay by the Delhi High Court on the Singapore Arbitration Tribunal Centre (SIAC) in the case between Amazon and the Future Group.
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