Reliance Industries (RIL) is a Fortune 500 company and the largest private sector corporation in India. With the motto “Growth is Life”, Reliance evolved from being a textiles and polyester company to an integrated player across energy, materials, retail sector, entertainment and digital services. Its operations span from exploration and production of oil and gas to the manufacture of petroleum products, polyester products, polyester intermediates, plastics, polymer intermediates, chemicals, synthetic textiles and fabrics. As per its website, Reliance has generated shareholder value of 32 percent market capitalisation (CAGR) since IPO. It has employee value of 1.8 crore hours in terms of man hours of training imparted and societal value through generation of over 50 lakh indirect employment. It is also the highest payer of customs and excise duty in the private sector. Reliance Jio has 426.2 million subscribers, the conglomerate runs the world's largest refinery at a single location, 1 in every 2 Indians is a consumer of its media content, and it is the first Indian retailer to cross $10 billion in revenue. RIL is also heavily involved in Corporate Social Responsibility (CSR) initiatives in education, health, environment and social development, which forms a sizeable chunk of its community outreach programmes. Nearly 400,000 people benefit from these continuing programmes every month, as per the website. More
The rating agency affirmed its 'BBB+' rating - equivalent to the sovereign rating assigned to India - to Reliance (RIL) with a stable outlook, reflecting the view that RIL's cash flows will help it preserve its financial profile, despite elevated investments over the next 24 months.
While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers.
Oil and Natural Gas Corporation (ONGC) will produce 0.4 million standard cubic metres per day - a fraction of the planned output from the block that sits next to Reliance Industries' prolific KG-D6 area in the Bay of Bengal, from June 15 and will ramp it up to 1.4 mmscmd by February 5, 2024, according to tender document the firm floated, seeking bids for gas sales.
Ambani, who is steering Reliance's pivot toward renewable energy and diversifying away from its traditional crude oil refining and petrochemicals, is among 31 international experts named on the panel.
The 18,050-18,000 level was safeguarded firmly, showcasing the importance of pivotal support and is expected to act as a sheet anchor in the comparable period. On the higher end, 18,400-18,450 is likely to act as the sturdy wall and a decisive breach would only trigger fresh longs in the system in future
While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers.
Newly appointed US Ambassador to India Eric Garcetti arrives in India. Garcetti was sworn in by US Vice President Kamala Harris as the new US Ambassador to India in March this year. During his trip to Mumbai and Gujarat, Garcetti met Bollywood superstar Shah Rukh Khan, Reliance Industries chairman Mukesh Ambani, visited Sabarmati Ashram in Gujarat and enjoyed IPL match in Ahmedabad.
The premium diesel is priced at rates lower than normal or additive-free diesel sold by public sector (PSU) competition.
On the other hand, analysts are rooting for Reliance Industries, TCS, HUL, Wipro and Bajaj Finance citing various factors amid a drop in their share prices.
JPMorgan's target on RIL is Rs 2,960, indicating a 19 percent upside from the current levels
The financial services arm will be renamed Jio Financial Services Limited and will be listed on BSE as well as NSE.
Also, fall in index majors Reliance Industries, Tata Consultancy Services, Infosys and Larsen & Toubro added to the weak trend in equities. The 30-share BSE Sensex declined 161.41 points or 0.26 per cent to settle at 61,193.30. During the day, it tumbled 330.27 points or 0.53 per cent to 61,024.44.
Recently Wipro has seen bullish divergence on a daily scale, the price was making lower lows, but RSI (relative strength index) was making higher lows.
Reliance is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.
A demerged company will be retained in a Nifty index vis-a-vis the earlier practice of excluding it
Reliance Industries Q4 result: Gross revenue from operations of India's most valued company came in at Rs 2.39 lakh crore, registering a year-on-year rise of 2.8 percent.
The market valuation of Infosys plummeted by Rs 66,854.05 crore to Rs 5,09,215 crore. ITC and State Bank of India were the only gainers.
Reliance Industries on April 21 reported 19.1 percent year-on-year (YoY) growth in consolidated profit at Rs 19,299 crore for the quarter ended March of the financial year 2022-23.
The country's largest firm by m-cap has registered a 9.9 per cent growth in its consolidated profit at Rs 66,702 crore for financial year ended March 2023.
Revenue from operations jumped 19.4 per cent YoY from Rs 58,017 crore in the corresponding quarter last year
Reliance Industries Q4 result: The topline and the bottomline were expected to grow in single digits, both sequentially and year on year.
In this episode of Market Minutes, Shailaja Mohapatra talks about Tesla dragging Nasdaq lower, why life insurance stocks will be in focus, HCL Tech's Q4 numbers and Reliance Industries' Q4 preview. (With inputs from Sucheta Anchaliya). Also, catch Ravi Singhal of GCL Capital in Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, keys data points and developing trends.
Analysts will watch out for more clarity on the Rs 75,000-crore investment in the new energy business, growth in retail store additions and pricing in the telecom business