Reliance Industries (RIL) is India's largest petrochemical and second-largest oil refining company.
Although US oil sanctions imposed on Venezuela in January 2019 have no direct secondary component, oil companies such as Reliance Industries (RIL) that have a significant US presence have curtailed their commercial ties with the Opec nation.
Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 51 points loss or 0.45 percent. Nifty futures were trading around 11,287-level on the Singaporean Exchange.
Saudi is India's second-biggest oil supplier behind Iraq. It supplies roughly a fifth of India's oil imports.
The company's filing to stock exchanges for the shareholding pattern for the quarter ended June 30, 2019, showed promoter group holding at 47.29 per cent.
TRAI said total wireless subscribers (GSM, CDMA & LTE) increased from 116.55 crore at the end of Jun-19 to 116.83 crore at the end of Jul-19, thereby registering a monthly growth rate of 0.24%.
Reliance Services and Holdings Limited acquired more than 2.71 stake in Reliance Industries.
Reliance and its partner BP Plc of the UK have sought bids from potential users for the 5 million standard cubic metres per day of natural gas they plan to produce from the R-Cluster Field in KG-D6 block from second quarter of 2020.
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The brokerage factored in stronger balance sheet with debt reduction of $22 billion till FY21, and low capex intensity guidance and higher Jio valuation.
Fitch said the outlook on the local-currency IDR was revised to positive due to RIL's potential to deleverage further
We spoke to an analyst to get an insight into the technicals of these stocks and where are they headed in the short term.
Investors remained anxious as to see when and if the government will announce its decision on tax surcharge on FPIs and measures to stem the weakening economy
Ambani assured shareholders that Reliance will reward them abundantly through higher dividends, periodic bonus issues and other means, and at a more accelerated pace than any time in company's history.
Most global brokerage firms maintained their rating on RIL post the AGM. The most aggressive target price was put out by Nomura of Rs 1600 which translates into a rise of nearly 38%.
Investors will appreciate the initiatives announced at the RIL AGM, not least the partnership with Microsoft. The stage has been set for a re-rating of the RIL stock.
Reliance Industries' chairman and managing director Mukesh Ambani said that they have a clear roadmap to become a zero net-debt company by March 31, 2021
In the last one year, Reliance Industries became India's largest and most profitable company
Here's the full text of RIL CMD Mukesh Ambani's address at the 42nd Annual General Meeting
Reliance Retail, with presence in nearly 7,000 towns and cities, achieved a significant milestone with turnover crossing Rs 1.3 lakh crore in the last year
Two-thirds of Reliance Retail stores are located in Tier 2, 3 and 4 towns and half of fresh fruits and vegetables are sold in India
Mukesh Ambani said RIL is ready to kickstart four key engines this year—Internet of Things (IoT), Home Broadband, Enterprise & MSME Broadband—with annual revenue opportunity for Jio at Rs 20,000 crore from IoT only