RELIANCE NATURAL RESOURCES LTD
Vedanta turns a money-spinner for investors. What's pushing it on?
Shares of Anil Agarwal-owned Vedanta Group, including Vedanta Ltd and Hindustan Zinc Ltd, have surged by Rs 2.2 lakh crore, doubling from their 52-week lows. Vedanta's growth exceeds other top Indian businesses like Reliance and Tata Groups. Brokerages have raised price targets on Vedanta, citing operational efficiencies and demerger prospects. Vedanta plans to invest $20 billion in India, focusing on technology and electronics. Agarwal aims to monetize the steel business to cut debt.
PM Modi, Ambani, Adani reshaping India to become economic superpower: CNN report
India is poised to become a 21st-playing a fundamental role in shaping the economic superpower the country will become in the coming decades, according to a CNN report
Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say
Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast.
Vi to renew tech outsourcing deal with IBM for about $1 billion
Renewal of the tech outsourcing deal comes even as Vi's board meets Saturday to consider raising Rs 20,000 crore via a preferential share issue. Earlier this week, Vi's shareholders approved a proposal to raise this capital through equity and equity-linked instruments.
From Musk to Mittal, Ambani to Amazon: Why such a big race for satcom?
Internet communication in India has a new battleground called "satcom," different from regular networks. Indian and foreign firms compete for satellite spectrum to access the internet. Disagreements on spectrum allocation methods divide the industry: some prefer government allocation, others auctions. The competition is intense due to more players, including foreign giants like Elon Musk's Starlink and Amazon, unlike the limited private telecom market with Reliance Jio, Bharti Airtel, and Vodafone Idea.
Climate change is depleting fish & seafood at an alarming rate
An expansive growth of human populations globally puts immense pressure on the health of wild fish stocks
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Why is Mukesh Ambani scouring sugar mills across India?
Mukesh Ambani, the chairman of Reliance Industries Ltd. (RIL), is exploring a fresh avenue in the energy sector by targeting an underexplored resource: sugarcane press mud for compressed biogas (CBG) production. RIL is engaging with sugar mills to procure press mud, signaling a move towards biogas amid the push for green energy.
RPL case: SAT quashes Sebi's order against Mukesh Ambani, Reliance
Securities Appellate Tribunal (SAT) has overturned the decision made by the Securities and Exchange Board of India (Sebi) against Mukesh Ambani and his company Reliance Industries (RIL). The order accused them of engaging in trades that influenced the prices of Reliance Petroleum (RPL) stock back in 2007. SAT has revoked the penalties imposed on RIL, Ambani, Navi Mumbai SEZ, and Mumbai SEZ, which amounted to a total of Rs 70 crore.
What's self-sufficient habitation? How to build a home that needs minimum external resources
With growing environmental awareness, people are embracing a lifestyle that minimizes ecological footprints. This journey involves harnessing renewable energy sources, sustainable water management, eco-friendly food production, and energy autonomy. Self-sufficient habitation is not just about practical aspects but also adopting a conservation mindset, ensuring a consistent source of fresh produce, and community engagement.
India can reduce fossil fuel dependence, cut import bills by $29 bn through biogas adoption: Report
According to the report's author Purva Jain, an energy analyst at IEEFA, "Biogas has the potential to replace natural gas and other high-emission fossil fuels. By eliminating carbon dioxide (CO2) and impurities like hydrogen sulfide, its methane content can be upgraded to 90 per cent, making it calorifically equivalent to natural gas.
These largecaps have ‘strong buy’ & ‘buy’ recos and upside potential of more than 20%
While the correction has been going on in the market since the middle of July, it is only on days like Monday where everyone on the street feels that equity markets are correcting. It is only a matter of time that the concept of relative valuation will come into play and large caps will get more attention from the market. Stocks from different sectors are making to the list, this week, stocks from Oil refining and marketing, private banks, insurance, auto ancillary and fertilizer space. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". The screener applies different algorithms for all BSE and NSE stocks.
Gas migration case: What exactly is the dispute between Reliance and ONGC?
The Delhi High Court has requested a response from Reliance Industries (RIL) and its partners in relation to the Indian government's appeal, accusing the conglomerate of committing fraud and unjust enrichment of over $1.729bn by extracting gas from deposits it did not have the rights to exploit. The dispute began in 2014 when state-run ONGC claimed that RIL had drilled wells close to the common boundary of their blocks and pumped out gas from ONGC's adjoining block.
HC seeks response from Reliance on govt appeal accusing co of committing 'fraud, unjust enrichment of over $1.729 billion'
The Delhi High Court has asked for a response from Reliance Industries and others regarding the government's appeal accusing the conglomerate of committing fraud and unjust enrichment of over $1.729 billion by siphoning gas from deposits they were not authorized to exploit. The government argues that Reliance knew about the connectivity of its block with that of ONGC's block and deliberately extracted and sold gas without permission.
Jio submits another legal opinion on satellite spectrum backing auction
Stressing its point of view to auction satellite spectrum, Reliance Jio has submitted to authorities, including regulator Trai, another legal opinion from a former Supreme Court judge who has opined that while there is no mandate, constitutional or otherwise, that natural resource allocation must be only by auction, it is certainly “a more preferable method”.
Satcom spectrum allotment: Jio brings up former Supreme Court judge view to counter Mukul Rohatgi's
The former judge said that even if it could be argued that the 2G judgement does not apply to satellite spectrum, proponents of administrative mode of allocation would need to establish that the allocation of spectrum to private parties is not being made for commercial pursuits for maximising profit and therefore, there is no need to opt for competitive, revenue-maximising means of disposal.
Will financial business demerger bring a “Deja vu” moment for RIL shareholders?
RIL announced the demerger of its financial services business into Reliance Strategic Investments, which will be renamed Jio Financial Services and listed on the stock exchanges. Nuvama values the demerged financial services business at Rs 1 lakh crore or Rs 168 a share, which is 5% of the some-of-the-parts valuation of RIL.
Carbon capture can free India from the bind of growing without polluting
Capturing CO2 emitted by industries looks like a viable option to keep the economic engines running without harming the world. As a country that cannot afford to slow its pace of growth, India — the third-largest emitter of CO2 — should aggressively invest in this technology.
Nifty Oil & Gas Index: Is whole chain better than single stock exposure?
While predicting oil price is hazardous, there is a high probability that if oil prices even stay at these levels, some companies from oil and marketing space and refiner’s will be able to see improvement in their margins that could be reflected in coming quarters.
Gas, makes for a solid climate future
It is a long road ahead before India can switch completely to renewable energy and/or electric mobility. As the country moves towards cleaner sources of energy, natural gas, becomes a critical part of India's transition strategy – the bridge between the current fossil fuel led energy mix to the zero-emission fuel mix in the future. Piped natural gas (PNG) and compressed natural gas (CNG) can be used to reduce the country's emissions significantly, without compromising on the energy needs.
India's top oil explorer ONGC signs MoU with France's TotalEnergies
India, the world's third biggest oil importer and consumer, ships in over 85% of its oil from overseas. The country wants to quickly monetise its oil and gas resources to reduce its reliance on costly imports. The MoU seeks to provide technical help for ONGC's push to explore and reduce green house emissions in development of deep-water blocks especially in Mahanadi and Andamans, off India's east coast.
India, US making fresh efforts for practical cooperation in civil nuclear energy sector
In the face of growing global concerns over energy security triggered by the Ukraine conflict, India and the US are giving a fresh look at exploring practical cooperation in the civil nuclear energy sector after failing to move forward since inking a historic agreement over 14 years back for partnership in the area.
India's Reliance stops local petcoke sales, boosts imports
With Reliance's petcoke no longer available domestically, India's imports are likely to rise, after doubling last year because of higher demand from cement makers, who use the petcoke to manufacture the building material. Reliance was the country's biggest domestic supplier until 2021.
Indian Oil chairman to also be managing director
Indian Oil Corporation, the nation's largest oil refiner and retailer of fuels like petrol and diesel, has always been headed by a chairman, who has also discharged the role of a managing director or CEO. But this is likely to change soon with the Oil Ministry agreeing to redesignate the top job as chairman and managing director, sources aware of the matter said.
RIL arbitration: Supreme Court to hear government plea against Delhi HC order on Monday
The government is seeking termination of the mandate of the tribunal for "having lost faith" in its two foreign arbitrators - Michael D Kirby and Bernard Rix. It has alleged that the way the tribunal proceedings were conducted clearly showed an evident bias and harboured justifiable doubts as to the independence and impartiality of the arbitrators.
KG-D6 Case: No restraint on RIL continuing arbitral proceedings against government
"The special leave petition by the respondent (government) against the order of the (Delhi) High Court of December 9 is yet to be listed before this court. In the absence of any injunction by this court, the position clearly is that there is no restraint on the arbitral proceedings," a bench led by Chief Justice of India DY Chandrachud said while allowing the Mukesh Ambani firm's plea for continuation of the proceedings.
Piramal Capital and Housing Finance withdraws insolvency proceedings against Reliance Power
This follows an out-of-court settlement between both the companies over a Rs 526 crore loan default by Reliance Power and its subsidiary Reliance Natural Resources Ltd (RNRL).
Other country's govt not responsible to my consumers, says Union Minister Hardeep Puri on India's oil purchases
"I was in the US recently. I said that we'll purchase oil from wherever we have to. We have no compunctions on that. Truth is, nobody even told us to not purchase it...Am I responsible to my consumers or is some other country's govt responsible to my consumers?" ANI quoted minister Puri as saying at the three-day 5th South Asian Geoscience Conference "GEO India 2022" at Jaipur Exhibition and Convention Centre (JECC) in Sitapura, on Friday.
EverEnviro plans to set up 14 biogas plants at Rs 1,000 crore
EverEnviro Resource Management Pvt Ltd (EverEnviro), a wholly owned subsidiary of Green Growth Equity Fund (GGEF), is planning to set up 14 compressed biogas plants in the country with an investment of ₹1,000 crore, people aware of the development said.
Pegasus snooping row: SC appoints former judge Justice R V Raveendran to oversee expert committee probe
Former Supreme Court judge Justice Raju Varadarajulu Raveendran, who has been entrusted with the task to oversee probe into alleged use of Pegasus spyware for surveillance of various people, has been part of benches which heard major cases such as row over quota for OBC in central universities, the 1993 Mumbai serial bomb blasts and the Krishna-Godavari basin dispute over natural gas.
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