At present, only government-owned Oil & Natural Gas Corporation (ONGC) and Oil India are allowed to exploit shale reserves after the country unveiled a policy for exploitation of shale reserves in 2013.
The Chairman and Managing Director of Reliance Industries delivered a speech about India’s rise in the world order and the role it could play to lead the fourth industrial revolution.
Reliance Marcellus II, LLC, a subsidiary of Reliance Holding USA and RIL, closed the sale of its stake in the Marcellus shale gas asset operated by Carrizo Oil and Gas, the company said in a statement.
The bonds were priced at 3.66 per cent, the lowest coupon ever achieved by an Indian corporate for a 10-year issuance, the company said in a statement.
"We are taking the high quality and high-performance products to the consumers in a tie-up with the brands. We have identified certain products," a Reliance Industries spokesperson said.
Nearly 25 years after ONGC's prime discovered oilfields were privatised, the oil ministry has identified 11 more producing oil and gas fields of the state- run firm for handing over to private firms to raise output.
The list is topped by Amazon founder and CEO Jeff Bezos whose net worth is USD 92.6 billion. Bezos is followed by Microsoft’s founder Bill Gates and Berkshire Hathaway’s Chairman Warren Buffett
Axis Direct is bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 990 in its research report dated October 25, 2017.
The partners yesterday submitted to the Directorate General of Hydrocarbons (DGH) a field development plan (FDP) for the MJ-1 gas find, which is located about 2,000 meters directly below the currently producing Dhirubhai-1 and 3 (D1 and D3) fields in the eastern offshore KG-D6 block, sources with direct knowledge of the development said.
Sharekhan is bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 970 in its research report dated October 13, 2017.
Reliance Jio, on October 18, increased tariff for its popular 84-day plan by 15 percent to Rs 459, under which subscribers get 1GB 4G data at high speed per day.
Prabhudas Lilladher recommended accumulate rating on Reliance Industries with a target price of Rs 800 in its research report dated October 14, 2017.
Edelweiss bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 1104 in its research report dated October 13, 2017.
JM Financial is bullish on Reliance Industries has recommended buy rating on the stock with a target price of Rs 900 in its research report dated October 15, 2017.
Most analysts expect Jio to be profitable in December quarter itself, which may be boosting sentiment.
RIL-BP combine yesterday submitted to the Directorate General of Hydrocarbons (DGH) a field development plan for what are known as satellite and other satellite fields, sources with direct knowledge of development said.
Operational performance was far better than analysts' expectations, with the EBITDA at Rs 15,565 crore with margin at 16.4% in Q2
Reliance Industries which has a market capitalisation of over Rs 1 lakh crore rose to a fresh record high of Rs 891 on the BSE ahead of its Q2 results for the second day in a row.
The past behavior of stock for the last 5-6 quarters suggest profit booking post result outcome (last quarter was exceptional). The corrective action generally comes in the range of 7-10% percent after result outcome.
The operational performance is likely to be driven by its refining and petrochemical businesses that are expected to be strong. Analysts expect another record quarterly petchem earnings.
On the BSE Index, over 100 stocks hit fresh 52-week high including names like Bata India, TVS Motor Company, Dabur India, Deepak Fertilizers, Kolte Patil Developers and Chambal Fertilizers.
The top gainers in Nifty50 Index were Hindustan Petroleum Corporation which zoomed 4 percent followed by Bharti Infratel and Bharti Infratel which added 3.71 percent and 2.98 percent respectively. From the oil & gas space, Indian Oil Corporation was the top gainer, up 2.15 percent while 2-wheeler manufacturer Bajaj Auto gained 1.92 percent.
Sandeep Wagle of powermywealth.com recommends buying Reliance Industries and Tata Chemicals.
Nifty on Tuesday was trading in the green up 22.85 points at 10, 012 led by Reliance Industries, Infosys and Lupin which were among the top gainers, up 1.58 percent, 1.34 percent and 2.29 percent respectively.
Ashwani Gujral of ashwanigujral.com recommends buying Reliance Industries, Indraprastha Gas, HDFC Bank and Avanti Feeds.