RIL AGM: Jio GigaFiber services from Sept 5; Aramco to invest $15 billion

Mukesh Ambani, the chairman of the group announced that Saudi Aramco will invest to take a 20% stake in the group's oil to chemicals (O2C) business at a $75 billion enterprise value.

11:07 AM

NEWS ALERT | RIL 42nd AGM begins; Mukesh Ambani's speech begins

11:06 AM

RIL AGM: What to expect

- JioGiga Fiber may be priced at a lower entry point of Rs 2,500; 

- JioPhone 3 likely to be priced at Rs 4,500

11:04 AM

Reliance Industries faces headwinds from US-China rift, exports down 4.5%

Reliance Industries’ (RIL’s) petrochemicals business has taken a hit owing to trade tensions between the US and China.

 

In addition to the impact on crude oil prices, the demand and margins for certain petchem products have been under stress owing to the trade war. “The US-China trade war is impacting regional polymer margins and causing the diversion of US cargo to Southeast Asia and West Europe,” the company said in its post-result presentation to investors.  READ MORE

11:01 AM

As e-grocers perfect the art of online sale, Jio effect lurks in background

Almost three years ago, Amazon India Senior Vice-President and country manager Amit Agarwal had claimed his platform was proudly selling 50 different kinds of churan. He had also predicted that grocery would become the biggest money churner for online marketplaces in times to come. READ MORE

11:00 AM

FACTSHEET | RIL stock has surged 20% since last AGM

11:00 AM

Jio to keep adding subscribers despite decline in average revenue per user

From the second half of this financial year, they expect Jio to start raising its prices. As of now, Jio says it is keen to have more subscribers on long-term plans, even if this negatively affects revenue. Declaring the March quarter results, the company said it had 331.3 million consumers, as of end-June. READ MORE

10:58 AM

Brokerages remain upbeat on Reliance Industries' stock post Q1 results

Most brokerages remain upbeat on Reliance Industries Limited (RIL), after the company posted a 7 per cent jump in its net profit for the April – June quarter of financial year 2019 – 20 (Q1FY20) at Rs 10,104 crore. The company announced its numbers for the recently concluded quarter post market hours on Friday.

 

Revenue came in 22.1 per cent higher than the Rs 1.41 trillion in the corresponding period a year ago. Gross refining margin (GRM) for the quarter came in at $8.10/barrel. READ MORE

10:56 AM

Reliance Industries' talks on stake sale to Saudi Aramco hit roadblock

State-owned Aramco, the world's biggest oil producer, plans to boost investment in refining and petrochemicals to secure new markets for its crude and sees growth in chemicals as central to its downstream strategy to reduce risk as oil demand slows.

 

Reliance had held talks on offering Aramco at least 20% in a special purpose vehicle covering refining, petrochemicals and marketing, and with a focus on expansion. READ MORE

10:55 AM

Here's why Credit Suisse downgraded the stock to neutral

The report pointed out that RIL has been free cash flow (FCF) negative for six years. “Given margin pressure in refining and petrochemical (high supply), FCF should be negative for the financial year 2020-21,” the report said. READ MORE

 

10:54 AM

RIL overtakes IOC as highest ranked Indian company on Fortune 500 list

Mukesh Ambani-led Reliance Industries has jumped 42 places to become the highest-ranking Indian firm on the Fortune Global 500 list.

 

State-owned Indian Oil Corp (IOC) had been the top-ranked Indian company on the list and was first on the Fortune India 500 list which was started in 2010. READ MORE

10:53 AM

Reliance Industries looks to turn around domestic upstream business

Mukesh Ambani-promoted Reliance Industries (RIL) is making a second attempt in hydrocarbon exploration and production (E&P) sector.

 

With two of its clusters — R-Series and Satellite Series — likely to start production in the next two years, the company looks to turn around production from this business. “After five challenging years, the domestic upstream business is set to turn around next year,” RIL said in its June quarter investor presentation last week. READ MORE

10:50 AM

NEWS ALERT | Mukesh Ambani, CMD, RIL reaches Birla Matushri Sabhagar for 42nd AGM

10:47 AM

Jio emerges biggest telco after Vodafone Idea unveils Q1 numbers

After losing 14.1 million subscribers from April to June (Q1), Vodafone Idea lost the tag of the country’s biggest telco by subscribers to Reliance Jio. Vodafone Idea, while declaring its Q1 numbers on Friday, said it had 320 million subscribers at the end of the June quarter as against 334.1 million in the March quarter. READ MORE

10:45 AM

Notes from RIL results

Several trends are worth noting when we examine the Q1, 2019-20 numbers for Reliance Industries (RIL). Retail plus digital together contributed over 22 per cent of revenues for the giant flagship of the Mukesh Ambani group. Fast growth in these two segments compensated for stagnation in the core petrochemicals and refining segments. READ MORE

10:44 AM

Journey of Reliance Jio: From disrupting telecom to becoming the king

When Reliance Jio launched its services commercially in September 2016, it was a disruptor with a cheap tariff plan. Nearly three years later, it is the king. Vodafone Idea, which became the country’s largest telecom operator by subscribers after their merger last year, relinquished the crown to Jio Infocomm, the youngest operator in the domestic telecom scene, based on June quarter figures released by both telecom operators. READ MORE