Page 3 - Reliance Industries

Eight of top-10 firms lose Rs 1.03 trn in market-cap; RIL, ICICI hit hard

Eight of the top 10 valued firms faced a combined erosion of Rs 1,03,732.39 crore in market valuation last week, with Reliance Industries and ICICI Bank taking the biggest hit amid an overall weak trend in equities. During the holiday-shortened week, the 30-share BSE Sensex declined 673.84 points or 1.12 per cent amid concerns over the quantum of the next interest rate hike by the US Federal Reserve. Barring Bharti Airtel and ITC, eight firms suffered erosion from their market capitalisation (mcap). The market valuation of Reliance Industries plummeted by Rs 41,878.37 crore to Rs 15,71,724.26 crore, the most among the top 10 firms. The mcap of ICICI Bank tumbled Rs 18,134.73 to Rs 5,88,379.98 crore. The valuation of HDFC Bank tanked by Rs 15,007.38 to Rs 8,86,300.20 crore, and that of State Bank of India eroded by Rs 12,360.59 to Rs 4,88,399.39 crore. HDFC's market valuation diminished by Rs 6,893.18 crore to Rs 4,77,524.24 crore. Tata Consultancy Services' (TCS) valuation slump

Top headlines: Reliance ups ante with Campa, Adani to sell stake in Ambuja

Business Standard brings you the latest headlines at this hour

Nostalgia, bottled and brought back: Reliance rolls out the Campa crates

While Reliance hopes the gamble on the brand's popularity in the 1970s will pay off, experts feel it may not connect with the millennials, who are the major consumers of aerated drinks today

Motilal Oswal sees 17% upside potential for top-100 stocks by market-cap

Adani Ports, Hindalco among stocks with 100 per cent 'Buy' rating by analysts.

Stocks to Watch: Wipro, Reliance, Ajanta Pharma, Infosys, IRB Infra, REC

Stocks to Watch: RIL arm Reliance Polyester has completed acquisition of polyester business of Shubhalakshmi Polyesters & Shubhlaxmi Polytex

Reliance brings back 50-year-old iconic beverage brand Campa Cola

Billionaire Mukesh Ambani's Reliance re-launched the 50-year-old iconic beverage brand Campa Cola in a new contemporised avatar as it looks to ramp up its own consumer goods offering to take on competition from Adani, ITC and Unilever. In January this year, Reliance Consumer Products Ltd, the fast-moving consumer goods arm of Reliance Retail, acquired a 50 per cent stake in Gujarat-based carbonated soft drinks and juice maker Sosyo Hajoori Beverages Pvt Ltd. It had previously acquired the Campa brand from Pure Drinks group for a reported Rs 22 crore. And now, it has re-launched the Campa brand of beverages. "The Campa portfolio will initially include Campa Cola, Campa Lemon and Campa Orange in the sparkling beverage category," the company said in a statement, adding the cold beverage portfolio will initially be available in Andhra Pradesh and Telangana and will be rolled out across the country in stages. Campa-Cola was a popular soft drink brand in the 1970s and 1980s but fizzed ou

RIL, First Solar, Shirdi Sai bid for 15.5 Gw end-to-end solar manufacturing

Under phase-2 of PLI guidelines, of the total corpus of Rs 19,000 crore, the highest tranche of Rs 12,000 crore has been allotted to the manufacture of polysilicon wafer cells modules

Reliance to set up 10 gigawatt solar energy project in Andhra: Ambani

Reliance Industries Chairman Mukesh Ambani on Friday said his group will be investing in Andhra Pradesh to set up a 10 gigawatt renewable solar energy project. Speaking at the inaugural session of the two-day Global Investors Summit 2023 here, Ambani said under the determined and farsighted leadership of Prime Minister Narendra Modi, India has now become the fastest growing economy in the world. Similarly, Andhra Pradesh has grown phenomenally under the leadership of Chief Minister YS Jagan Mohan Reddy. "This morning, I am happy to announce that we will continue our investments and we will invest in 10 GW of renewable solar energy in the state of Andhra Pradesh, Ambani said. He further said Reliance has invested over Rs 1.50 lakh crore in its KG D-6 assets, developing and supporting gas pipelines. Today the natural gas produced by Reliance in KG D-6 basin was fuelling the country's clean energy transition and will contribute to nearly 30 per cent of its gas production. "This is

Reliance, Tata Power, others bid for Rs 19,500 cr solar incentives

The financial assistance is part of PM Modi's aim to turn the nation into a manufacturing powerhouse, creating more jobs in the economy and reducing imports that can drain foreign exchange

Reliance opens its first store in partnership with Gap Inc. in Mumbai

Reliance Retail is the official retailer of Gap across all channels in India, the company said in a press release

Olectra, in partnership with RIL, unveils hydrogen bus; stock zooms 20%

The company said the 12-metre low-floor bus has a seating capacity of 32 to 49 seats for passengers and one driver seat with its commercial launch is expected within a year

Stocks to watch: Axis Bank, Zee Ent, SpiceJet, RIL, Bharat Forge, Alkem Lab

Stocks to watch: Zee Entertainment has been barred from the futures and options (F&O) segment of the NSE; Olectra Greentech has developed a hydrogen bus in technical partnership with Reliance Ind

Olectra Greentech in partnership with Reliance unveils Hydrogen bus

Olectra Greentech in technical partnership with Reliance on Thursday unveiled a Hydrogen Bus, which is a carbon-free alternative to traditional public transportation. Olectra Greentech Ltd (OGL), a subsidiary of Megha Engineering and Infrastructures Ltd (MEIL), is set to offer the next-generation transport system to the Indian market, a statement stated. In the wake of the depletion of natural resources and the negative impacts of air pollution and emissions, Olectra has taken the initiative to accelerate the development of Hydrogen-powered buses. This initiative will help out the Indian government to achieve carbon-free hydrogen ambitions. Olectra aims to contribute to the nation's environmentally sustainable energy security through its Hydrogen buses, the statement said. The 12-metre low-floor bus has a customisable seating capacity of 32 to 49 seats for passengers and one driver seat, it informed. A single hydrogen fill allows the bus to travel up to 400 km. Hydrogen fill for

Stocks to Watch: M&M, Reliance, Sapphire Foods, CE Info, BEL, Hind Zinc

Stocks to Watch: M&M has entered into an asset transfer agreement for certain identified assets related to four-wheeler passenger electric vehicles with Mahindra Electric Automobile

Charts indicate robust bias for RIL, ONGC amid GST inclusion hopes

Oil & Natural Gas Corporation and Reliance Industries can rise up to 8 per cent

Mcap of five of top-10 most valued firms jump Rs 95,337 cr last week

Five of the top 10 valued firms together added Rs 95,337.95 crore in their market valuation last week, with index major Reliance Industries Ltd contributing the most. Last week, the BSE benchmark climbed 319.87 points or 0.52 per cent. While Reliance Industries, ICICI Bank, HDFC, ITC and Bharti Airtel were the gainers from the top-10 pack, Tata Consultancy Services (TCS), HDFC Bank, Infosys, Hindustan Unilever and State Bank of India were the laggards. The market valuation of Reliance Industries rallied Rs 70,023.18 crore to Rs 16,50,677.12 crore. ITC's market capitalisation (mcap) jumped Rs 14,834.74 crore to Rs 4,75,767.12 crore. The valuation of ICICI Bank climbed Rs 6,034.51 crore to Rs 6,01,920.14 crore and that of Bharti Airtel advanced Rs 3,288.43 crore to Rs 4,32,763.25 crore. HDFC's mcap gained Rs 1,157.09 crore to Rs 4,92,237.09 crore. However, State Bank of India's valuation eroded by Rs 19,678.77 crore to Rs 4,73,807.64 crore. The mcap of Hindustan Unilever tanked R

Billionaire Raj: The rise of India's multi-business conglomerates

The experience of South Korea, Japan and Russia has shown that the conglomerate model often comes with political connections, but such comparisons can be overblown, writes T N Ninan

RE firm SWREL seeks India expansion by working with large corporates

Engineering major will participate in projects where supply and land risk is not there: CEO

Reliance seeks $12.75 per mn thermal unit for CBM gas, ONGC wants $9.35

Billionaire Mukesh Ambani's Reliance Industries Ltd and state-owned Oil and Natural Gas Corporation (ONGC) are separately auctioning natural gas extracted from coal seams at prices linked to Brent crude oil price. Reliance is seeking a minimum USD 12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of Madhya Pradesh, while ONGC wants USD 9.35 for the same kind of fuel from North Karanpura in Jharkhand, according to tender documents. Reliance has sought bids for sale of 0.65 million standard cubic meters per day from CBM block SP(West)-CBM-2001/1 for one year beginning April 1, 2023, the company's tender document showed. It asked bidders to quote a variable 'v' as a percentage of dated Brent crude oil price. Starting bid price has been kept as 15 per cent of Brent ('v' = 15 per cent). At the current Brent price of USD 85 per barrel, this translates into a price of USD 12.75 per mmBtu. e-bidding will happen on February 24. ONGC has offe

Sintex Industries resolution: NCLT approves joint bid of RIL, ACRE

The National Company Law Tribunal (NCLT) has approved the joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) for debt-ridden textiles maker Sintex Industries. The Ahmedabad bench of the NCLT in an oral order on Friday approved the resolution plan by RIL and ACRE, Sintex Industries said in a regulatory filing. "NCLT has orally pronounced an order" on Friday "approving the resolution plan submitted jointly by Reliance Industries Limited and Assets Care & Reconstruction Enterprise Ltd," Sintex Industries said. The approved Reliance-ACRE plan contains the reduction of share capital and delisting of equity shares with nil value, it added. The company would make updated disclosure upon the written order being made available, it added. According to reports, RIL-ACRE had offered around Rs 3,650 crore. The lenders of Sintex Industries had voted in favour of the joint bid of RIL & ACRE, following which the resolution professional of the company in ..