Reliance
SBI to withdraw fraud tag on Reliance Infratel Ltd
Reliance Projects and Property Management Services, a part of Reliance Industries Group, was the successful resolution partner in the CIRP (Corporate Insolvency Resolution Process) of Rel Infratel Ltd. It won the right to acquire 100 per cent shareholding of Rel Infratel Ltd.
RIL may go big in its new energy business amid climate concerns
In his statement to the shareholders of the company in its annual report for FY20-21, Reliance Industries Chairman & Managing Director (CMD) Mukesh Ambani noted Reliance has set itself a target to become net carbon zero by 2035.
Healthy Outlook: Jefferies maintains buy on RIL, cited demand upside
Accordingly, Jefferies maintained the 'buy' call on RIL with a target and Rs 2,580 or 30 per cent upside. "At the current stock price, valuing the energy business at long-term average multiples, we are left with Rs 1,150 per share as imputed value of RIL's stake in 'Jio' and 'Retail'," Jefferies said in a report.
Reliance Jio moves NCLT against Reliance Infratel COC
According to sources, Reliance Jio, through Reliance Project and Property Management Services Ltd, has filed an application in the NCLT Mumbai against the CoC of Reliance Infratel Ltd (RITL). The RITL CoC is led by the State Bank of India (SBI). Reliance Jio, through the Reliance Project and Property Management Services, was the successful resolution applicant for RITL.
RIL well-placed in consumer business: Survey
BofA Securities conducted an online survey of 1,000 users in India (using Survey Monkey) to gauge the changing consumer thought process and understand traction. Key insights of the survey showed that on mobile tariffs, 69 per cent of the surveyed users don't mind paying 15-20 per cent higher telco tariffs.
Reliance Retail is second fastest growing retailer in the world
Reliance Retail remains the 2nd fastest growing retailer in the world despite the base effect of being No.1 last year. Reliance Retail features consecutively for the 4th time in the list of Global Powers of Retailing and World's Fastest Retailers. Reliance Retail, last year's Fastest 50 leader, dropped to second place. The company recorded YoY growth of 41.8%, driven primarily by a 13.1% increase in the number of stores in its consumer electronics.
RIL fixes record date for first call on partly paid-up equity shares
In a regulatory filing, RIL said that pursuant to the Letter of Offer dated May 15, 2020, the company had issued and allotted, on a rights basis, over 42.26 crore equity shares of the face value of Rs 10 each as partly paid-up equity shares (Rs 2.50 paid-up per share).
RIL's swift steps make it largest producer of medical Oxygen
Traditionally, Reliance is not a manufacturer of medical grade liquid oxygen. Yet, starting from Nil before the pandemic, the company is its largest producer in the country from a single location. At its refinery-cum-petrochemical complex in Jamnagar and other facilities, RIL now produces over 1000 MT per day - or 11 per cent of India's total production - meeting the needs of nearly every one in ten patients.
RIL doubles Q4 net profit to Rs 13,227 cr
Reliance Industries Lts (RIL) on Friday reported a 108 per cent growth in its consolidated net profit for the January-March quarter at Rs 13,227 crore. During the same quarter of FY20, the company had reported a net profit of Rs 6,348 crore. The company, in a regulatory filing, said that Rs 13,227 crore is the net profit attributable to the owners of the company.
Reliance, bp start 2nd new deepwater gas field in KG D6 block
Accordingly, RIL and bp have been developing three deep-water gas developments in block KG D6 - 'R Cluster, Satellite Cluster and MJ' - which together are expected to produce around 30 mmscmd (1 billion cubic feet a day) of natural gas by 2023, meeting up to 15 per cent of India's gas demand.
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