| Reliance Industries Limited (RIL) Related news |
Paytm Mall in talks to raise around $500 million; looks to compete with Amazon, Flipkart
Posted on 9th May 2019 |
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As Paytm’s e-commerce unit struggles to compete against Amazon and Walmart-owned Flipkart that jointly commands close to 80% of the country’s e-commerce market, the former is understood to be in preliminary discussion with investors to raise around $500 million, an industry source told FE. The bulk of the funds would be spent on building Paytm Mall’s O2O (online-to-offline) strategy, the source said. |
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RIL subsidiary looks to raise ₹13,900 crore through rights issue
Posted on 1st May 2019 |
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Reliance Industrial Investments Holdings Ltd (RIIHL), the investment arm of India’s most valuable company, plans to raise ₹13,900 crore through a rights issue of non-cumulative optionally convertible preference shares. The funds will be used for acquisitions and to meet the group’s other funding requirements, two people aware of the development said, requesting anonymity. |
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Reliance Industries shale joint venture on the block
Posted on 29th April 2019 |
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Pioneer Natural Resources is in advanced talks to sell its Eagle Ford acreage in South Texas to privately owned energy producer Ensign Natural Resources, sources familiar with the matter said on Friday. If successful, the sale would achieve Pioneer’s long-stated aim of becoming an energy producer focused solely on the Permian basin of West Texas and Eastern New Mexico, the heart of the US shale revolution. |
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Reliance Industries shares slump 3% after GRM fall; should you buy or sell stock?
Posted on 22nd April 2019 |
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Shares of billionaire Mukesh Ambani-led Reliance Industries slumped in trade on Monday morning, after the firm’s GRMs came in at the lowest level since Q3FY15. Reliance Industries shares slumped nearly 3% to hit the day’s low at Rs 1,345.30 on BSE. Notably, the firm has reported a drop in standalone net profit for the first time in 17 quarters. |
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Reliance denies violation of US sanctions on Venezuela; says bought oil with knowledge of US authorities
Posted on 20th April 2019 |
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Reliance Industries Saturday said it is not in violation of the US sanctions on Venezuela and had purchased crude originating from the Latin American nation from companies such as Russia’s Rosneft in full knowledge of US authorities. In a statement, Reliance said reports suggesting that it was involved in an arrangement that leads to cash payment for oil supplies to Venezuelan national oil company PDVSA via third parties are “false and reckless”. |
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Jio asset transfer lightens RIL books
Posted on 20th April 2019 |
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After selling its East-West gas pipeline to an infrastructure investment trust (InvIT) sponsored by Brookfield, Reliance Industries Ltd has used this instrument to shed the liabilities of telecom arm Reliance Jio by around Rs 1,07,000 crore. InvITs are like mutual funds that pool in money from various entities to invest in infrastructure assets. |
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Reliance Industries stands to gain from Saudi Aramco deal: Experts
Posted on 18th April 2019 |
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Reliance Industries (RIL) stands to gain on crude oil supply security and substantial debt reduction, if reports suggesting a deal with Saudi Aramco are true. This is not the first time reports on a possible deal have emerged. “These talks have been around for two to three years,” said an expert, who did not wish to be named. |
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RIL makes Japan's Mitsui OSK Lines strategic partner in 6 ethane carriers
Posted on 17th April 2019 |
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Reliance Industries (RIL) has signed a deal with Mitsui OSK Lines (MOL) for a strategic stake sale in six very large ethane carriers (VLECs), the company said on Wednesday. RIL had sourced these carriers as part of its Ethane gas project to transport the compound from the United States to its plants in India. Currently, MOL, a Japanese shipping company, is operating these vessels and will become a joint owner once the deal gets regulatory approvals. The Mukesh Ambani-promoted company did not disclose the deal value or the size of the stake being sold. |
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Mukesh Ambani’s RIL in talks with world’s largest Saudi Aramco for 25% stake sale in refining, petchem biz
Posted on 17th April 2019 |
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Saudi Aramco, the world’s largest crude oil producer, is in “serious discussions” to acquire up to a 25 percent stake in Reliance Industries’ refining and petrochemicals businesses, the Times of India reported on Wednesday. A minority stake sale could fetch around $10 billion to $15 billion, valuing the Indian company’s refining and petrochemicals businesses at around $55 billion to 60 billion, the report said. |
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