Somebody’s Wrong on Reliance

Shareholders in Reliance Industries haven’t had it this good for a long time. After years of under-performance, the Indian oil refiner’s stock has zoomed 21 percent since the end of September, versus a 6 percent drop in the benchmark Sensex. Chairman Mukesh Ambani’s net worth has swelled to $21.7 billion. And now, its latest quarterly earnings have shown that cheap…

RIL, RComm strike 120 billion rupee tower pact

Reliance Industries Ltd’s telecommunications unit will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than 120 billion rupees over the lifetime of the contract, the Indian companies said on Friday. Reliance Jio Infocomm, a unit of Reliance Industries, is rolling out a nationwide 4G network. The company…

RComm falls after Bharti Airtel signs pact with Reliance Jio

   Shares in Reliance Communications Ltd fell as much as 5 percent after Reliance Industries Ltd’s  telecom unit, Reliance Jio Infocomm, and Bharti Airtel Ltd  entered into an agreement for international data connectivity. “Tie-up with Bharti means Reliance is open to players other than Reliance Comm as well, which decreases the probability of further deals…

CCI Clears Investment in Oil Blocks & Power Projects.

The government has cleared investments in another 25 oil blocks, which the defence ministry had opposed, approved 13 projects of power sector involving Rs 33,000 crore investments, but deferred a decision on coal price pooling. The Cabinet committee on investment (CCI) gave conditional clearance to 16 oil blocks while nine others were approved without any…

RIL’s shale output in the U.S. tops local gas.

Amid all the brouhaha about staggering its natural gas output from domestic exploration and production (E&P) venture, Reliance Industries (RIL) has silently outpaced the number with its international E&P foray. RIL informed analysts that for the first time the company’s share of output of natural gas from its shale gas operations in the United States…