| Reliance Industries Limited (RIL) Related news |
RIL to invest in mobile making unit at Tirupati
Posted on 14th February 2018 |
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In a major fillip to the State government’s plans to develop the electronics industry, Reliance Industries Limited (RIL) has come forward to invest in Andhra Pradesh. Mukesh Ambani-led RIL has plans to manufacture 10 million mobile phones per annum in Andhra Pradesh. The RIL is looking for 150 acres of land to start a cellphone manufacturing unit near Tirupati in Chittoor district. |
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Reliance Industries to invest Rs 2,500 crore in Assam, create 80,000 jobs in next 3 years : Mukesh Ambani
Posted on 3rd February 2018 |
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Reliance Industries chairman Mukesh Ambani today announced an investment of Rs 2,500 crore in Assam in various sectors, including retail, petroleum, telecom, tourism and sports, creating jobs for at least 80,000 people over the next three years. "Today I am happy to announce five commitments for Assam over the next three years. Reliance will invest an additional Rs 2,500 crore to augment its presence in this market," he said at the inaugural function of the Global Investors Summit 2018 here. |
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RIL, BP get govt nod to buy out Niko in gas block
Posted on 27th January 2018 |
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NEW DELHI: The government has cleared the proposal by Reliance Industries (RIL) and its partner, UK major BP, to buy out independent Canadian explorer Niko Resources from a gas discovery in the Bay of Bengal. Cash-strapped Niko had in in 2015 decided to relinquish its 10% stake in the NEC-25 gas block in favour of its partners. Reliance is the operator of the block with 60% interest, while BP has the remaining 30%. |
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Global brokerages cheer for Reliance Industries shares on stellar Q3 results
Posted on 22nd January 2018 |
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Global brokerages Jefferies and CLSA cheered for the shares of Reliance Industries, after India’s most valued company by market capitalization reported a 25% increase in quarterly profit, beating analysts’ estimates, buoyed by profits from Reliance Jio and petrochemical business. Consolidated net profit rose to Rs 9,423 crore in the quarter ended December from Rs 7,533 crore for the comparable period last fiscal. Notably, revenue rose to Rs 1.1 lakh crore, an increase of 30.5% from Rs 84,189 crore last fiscal, on account of doubling of sales in retail operations and the addition of Reliance Jio’s numbers. |
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RIL net up 25% at Rs 9,423 crore
Posted on 20th January 2018 |
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Reliance Industries Ltd (RIL) reported a strong set of numbers for the three months ended December 2017, beating street estimates on all fronts. Boosted by volume increase with the start-up of petrochemicals projects and increase in prices in refining and petrochemical businesses, consolidated net profit excluding exceptional items increased a sharp 25.1% year-on-year to Rs 9,423 crore. Gross refining margins came in at $11.6/bbl against $10.8/bbl in Q3FY17, in line with street estimates. |
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RIL to spend another $23 bn on Jio over next 3-4 years, says Moody's
Posted on 19th January 2018 |
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Moody’s Investors Service estimates Reliance Jio, the mobile carrier run by India’s richest man, may invest as much as $23 billion on capital spending over three to four years as it expands beyond wireless services. Reliance Jio Infocomm Ltd.’s parent Reliance Industries Ltd. has already spent more than $31 billion to break into India’s mobile-phone market. The 2016 upstart, known as Jio, dislodged rivals and has emerged as the nation’s No. 4 carrier. A Jio spokesman didn’t immediately answer an email with questions about the Moody’s estimate. |
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RIL results preview: GRM to decline, petchem biz to drive profitability
Posted on 18th January 2018 |
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Oil-to-telecom conglomerate Reliance Industries (RIL) is expected to report a sequential decline in gross refining margins (GRM), while still maintaining it in double digit. The market is watching out for the telecom division’s performance which surprised the street with an operating profit in the previous quarter. In a Bloomberg poll, nine analysts estimated the company’s consolidated profit at Rs 84.96 billion against Rs 81.09 billion and seven analysts estimated revenue of Rs1.02 trillion against revenue of Rs 914.81 billion reported in the same quarter a year back. |
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RIL outlines Bengal vision
Posted on 17th January 2018 |
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Calcutta: Reliance Industries has earmarked Rs 5,000-crore investment for Bengal in the coming years to expand its retail and petroleum outlets. Speaking at the fourth edition of the Bengal Global Business Summit here on Tuesday, RIL chairman Mukesh Ambani outlined an eight-point business expansion agenda for the state across telecom and education as well as fresh investment in other businesses such as retail and petroleum. |
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RIL to invest Rs 50 bn in Bengal; to get 100% Jio coverage by Dec: Ambani
Posted on 16th January 2018 |
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RIL Chairman Mukesh Ambani on Tuesday announced Rs 50 billion investment in expanding telecom and petro-retail businesses in West Bengal and said his company is exploring the possibility of setting up a manufacturing facility for mobile phones and set-top boxes. Speaking at the Bengal Global Business Summit, India's richest man paid lavish compliments to Chief Minister Mamata Banerjee saying that under her leadership "West Bengal is becoming Best Bengal!" |
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