Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]
Reliance Industries, the parent of telecom operator Jio, will announce its quarterly performance numbers at around 5 pm today. Besides its core oil and gas business, the company will give an update on the operations of its telecom unit. Some in the market even expect it to reveal the new set of tariffs that will […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
Reliance Industries said it had signed agreements to sell all of its interest in certain upstream assets in north-eastern and central Pennsylvania, known as Marcellus shale. The assets, which are currently operated by Carrizo Oil & Gas, Inc., were sold to BKV Chelsea, LLC, an affiliate of Kalnin Ventures LLC, for consideration of $126 million, […]
The pace of growth in petroleum consumption slowed this year, but private retailers are getting ready to open more and more outlets, Fitch Ratings said. Consumption of petroleum products, such as diesel, petrol, LPG and kerosene, has been increasing at a rate of about 5% in India over the last three years, Fitch said. However, […]
Reliance Jio chairman Mukesh Ambani announced the JioPhone, which aims to bring smartphone features to the candybar form factor. The phone will be given to anyone if they deposit Rs 1500 with the company. The user will get the Rs 1500 back when the device is returned after 36 months. “Net net, you pay nothing […]
Reliance Industries said it commissioned its third and last crystallization train at its paraxylene complex at Jamnagar, making the company the biggest manufacturer of the key ingredient used in plastic production. Paraxylene is used to make intermediate chemicals that are then used to manufacture polyethylene terephthalate or PET. PET bottles are widely used for water […]
Reliance Jio, the biggest carrier of wireless data in the world, said it will expand beta trials of its fiber-to-the-home services in the ‘next few months’ across India. It has already started these trials in “a few locations”, which would be expanded city by city. According to market sources, the company has such trials ongoing […]
Reliance Jio’s withdrawal of its Summer Surprise Offer is unlikely to make any difference to most of its customers, and the company may even come up with a new version of the plan to comply with the ban. “The Telecom Regulatory Authority of India (TRAI) has advised Jio to withdraw the 3 months complimentary benefits of Summer […]
Investors are only now starting to realize the plan that Mukesh Ambani and his telecom brainchild, Reliance Jio, have put into practice, and are therefore driving stock prices of his company higher, said Angel Broking, a retail-only stock-broker. Reliance Industries share prices surged 11% on Wednesday, the first time it has moved so much in […]
Reliance Industries, which started giving a discount of Re 1 on every liter of diesel sold through its pumps in January, has now started advertising the offer in Kerala. The discount was first noticed in January in North and West Indian towns. The move was, at the time, not taken very seriously by players such as […]
Reliance Anil Ambani Group said its unit Reliance Defence and Engineering Ltd partnered with US-based oil rig comopany ALLRIG to provide jack-up rigs, drilling rigs and other floating fixed oil & gas assets in India. “The association will be helpful in providing solutions for class approved spares, repairs, upgradation and warranty support for critical equipments […]
Reliance Industries said its subsidiary Reliance Sibur Elastomers Pvt Ltd. has agreed to take a loan of $330 million, roughly equal to Rs 2193 crore, from overseas lenders. “The Facility with door to door tenor of 10 years shall be utilized to part finance the Capital expenditure to setup India’s first butyl rubber manufacturing facilities […]
The following is the full text of RIL Chairman Mukesh Ambani’s speech delivered today at Reliance Industries’ annual general meeting in Mumbai. Dear Shareholders, I start with the newest and youngest member of the Reliance family – Jio. Let me begin my words with a dedication. In the journey of time, there comes a few […]
Taking a cue from other consumer-facing brands, Reliance Industries has decided to provide live streaming of Mukesh Ambani’s much expected speech at the company’s annual general meeting on Thursday. NOTE:THIS IS FROM SEPTEMBER. GO TO THIS PAGE FOR TODAY’S SPEECH The live transmission of the speech “will go LIVE tomorrow as soon as RIL’s CMD Shri Mukesh […]
With only three more days to go before Reliance Industries chairman Mukesh Ambani makes his once-in-a-year speech to his shareholders, there is strong expectations that Reliance Jio — the group’s telecom arm — will make its commercial launch date and other details public on the day. Ambani typically uses Reliance Industries’ annual general meeting (AGM) […]
Reliance Jio, the country’s latest telecom operator, will start its services with coverage over 70% of India’s population, Chairman Mukesh Ambani said. “From Day one, we will look at providing 40-80 times faster internet speed than the current speed,” he said at FICCI’s annual entertainment industry conference FRAMES. “We will cover 90% population with 40-80 […]
The Cellular Operators’ Association of India, which represents the interests of major telecom companies such as Bharti Airtel Ltd and Idea Cellular Ltd, has opposed any move to allow “a particular operator” (understood to be Reliance Jio) to use state-owned Bharat Sanchar Nigam Ltd’s cellular network for its voice services. “We are made to understand […]
TV18 Broadcasting Ltd swung to a first-quarter operating loss as expenses increased and revenue fell. Revenue fell to Rs 596.7 cr from Rs 629.7 cr in the preceding quarter. However, operating expenses rose to 595.9 cr from 555.1 cr in the previous quarter. Revenue from media operations fell to Rs 566.3 cr from 628.9 cr […]
Reliance Industries’ chairman Mukesh Ambani has said that the group will invest Rs 2.5 lakh crore in projects related to Digital India, the government’s vision to boost growth of information technology in India, and will set up a network of 1.5 lakh retailers who will sell and service mobile phones and other smart devices. Most […]
