Solar module makers like Reliance Industries and Tata Power company were among the bidders for ₹ 19,500 Cr ($ 2.4 billion) in financial incentives that India is offering, to curb imports of panels from dominant producer China, and boost domestic manufacturing. A few other companies showing interest in the deal include US firm First Solar [...]
Mukesh Ambani-led Reliance Industries’ shares have lost 14% in over two months. They were at ₹ 2723 levels at the beginning of December and were trading at ₹ 2331.95 apiece at 11:31 AM on Friday. Abhijeet Bora, DVP Research Analyst at Sharekhan by BNP Paribas said that a decline in the share price of Reliance [...]
Reliance Industries (RIL) on Friday announced its results for the October to December quarter of 2022. Its consolidated net profit after tax came in at ₹ 15,792 crores, down 15% year on year (YoY) and its revenue increased 15.3% YoY to ₹ 2.20 lakh crores. In addition, its board approved raising ₹ 20,000 crores through [...]
The government on Monday reduced the windfall tax on Crude oil to ₹ 1,900 per tonne from ₹ 2,100 per tonne. In addition, it reduced the levy on aviation turbine fuel (ATF) to ₹ 3.5/litre from ₹ 4.5 per litre. The export tax on diesel has been reduced to ₹ 5 per litre from ₹ [...]
Two Reliance group firms - Reliance Consumer Products Ltd (RCPL) and Reliance Retail Ventures Ltd (RRVL), have announced an open offer to acquire a 26 per cent additional stake in Lotus Chocolate Company. Lotus Chocolate’s shares were locked in at 5% upper circuit at ₹ 199.95 apiece. In fact, it has been on an up [...]
The shares of Reliance Industries were trading in the green on Friday after the conglomerate’s subsidiary Jio Platforms Limited (Jio) entered into a regional partnership with Manchester City (Man City) on January 05, 2022, enabling Jio to become the Football Club’s Official Mobile Communications Network Partner in India. Jio and Man City will collaborate on [...]
Mukesh Ambani, spent quite some time last year, establishing his children at his business empire’s businesses. Akash Ambani, his elder son was named the chairman of Reliance Jio, while his twin sister Isha Ambani will oversee Reliance’s retail business. The tycoon’s younger son, Anant Ambani will be looking after the energy unit. After handing over [...]
The financial markets didn’t wish the investors in green for Christmas this week. The benchmark 50 stock Nifty 50 index declined 547 points or 2.50% over the week to close at 17,816 points. Similarly, the 30 companies BSE Sensex lost 2.60% or 1,596 points in value over the previous 5 trading sessions to settle at [...]
Nifty heavyweight Reliance Industries shares are in focus as it is scheduled to release its September quarter (Q2FY23) results today. According to analysts, the Mukesh Ambani-controlled conglomerate is likely to report strong year-on-year growth in consolidated net revenue and profit for the said quarter. The company’s results usually lack an element of surprise, however, quite [...]
The much-awaited Reliance Annual General Meeting was held on Monday. In the meeting, chairman Mukesh Ambani spoke about different ventures of Reliance going forward. Here are some of the highlights of the AGM meeting: The 5G services will be first launched during Diwali i.e, by October end of this year in four metro cities in [...]
