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<ul><li><keyword id="19912297" type="General" weightage="20" keywordseo="NVIDIA" source="keywords" meta.keywordsubtype="org" meta.entityname="NVIDIA" meta.hostid="261" meta.entityid="NVIDIA">NVIDIA</keyword> and <keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword> have partnered to build AI computing infrastructure.</li><li>NVIDIA will also supply the latest Blackwell AI chip for Reliance Industries’ new data centre.</li><li>The partnership was announced at the NVIDIA AI Summit India.</li></ul> <keyword id="16173150" type="General" weightage="20" keywordseo="NVIDIA-CEO-Jensen-Huang" source="Orion">NVIDIA CEO Jensen Huang</keyword> at the NVIDIA AI Summit India announced a partnership with Mukesh Ambani-led Reliance Industries to an artificial intelligence (AI) computing infrastructure and an innovation centre in India. As part of the partnership between the two companies, Reliance Industries will use the latest Nvidia Blackwell AI chip for its new major data centre. The company will use NVIDIA's cutting-edge technology, including the GB200 GPUs. The two companies are aiming to accelerate India's transformation into a global AI powerhouse with the partnership, banking on the nation's talent pool and growing digital infrastructure. "India is already world-class in designing chips, Nvidia's are designed here in Bengaluru, Hyderabad, Pune. A third of Nvidia is Indian, maybe more," Huang said. While praising the country’s rapid digitalisation in recent years and talking about the country’s potential in the AI sector, Huang said, “Very few countries have this amazing natural resource called IT and computer science expertise.” "We are at the doorsteps of the new intelligence age. India will be one of the biggest intelligence markets. It's not just our aspiration, but also the raw gene power which will help drive intelligence,” said Reliance Industries chairman <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>. "India will not just deliver CEOs to world, but also AI services. Like we did with data, in few years from now we can surprise the world with what Indians can achieve in intelligence," Ambani added. Ambani revealed the company’s plans to establish a scalable infrastructure capable of expanding beyond 1 gigawatt, powered by green energy. "We are building this so we can scale, and we think big," he said. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/deepak-builders-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114533208.cms">Deepak Builders IPO allotment – How to check allotment, IPO GMP, listing date and more</a> <a href="https://www.businessinsider.in/tech/news/synology-introduces-new-enterprise-solutions-reports-significant-growth-in-india/articleshow/114504353.cms">Synology introduces new enterprise solutions, reports significant growth in India</a> <a href="https://www.businessinsider.in/tech/apps/news/diwali-gift-zomato-platform-fee-increased-to-rs-10-ahead-of-the-festive-season/articleshow/114493617.cms">Diwali gift from Zomato – Platform fee increased to ₹10 ahead of the festive season</a>

NVIDIA and Reliance Industries to build AI computing infrastructure in India

<keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword> has been given the go-ahead by the government to sell up to 1.2 lakh tonnes of <keyword id="6360114" type="ORGANIZATION" weightage="80" keywordseo="LPG">LPG</keyword> produced at its plants to private cooking gas marketers. 
 

	The LPG Control Order mandates that all cooking gas (LPG) produced locally must be supplied to state-run fuel retailing companies as India is deficient in LPG and has to import a part of the requirement. 
	 
	However, under the Parallel Marketing Scheme (PMS), private companies are allowed to import and market LPG to bulk consumers. 
 

	RIL has been permitted to sell up to 10,000 tonnes per month to parallel LPG marketers, according to an oil ministry order. 
	 
	The approval, valid from April 1 to March 31, 2016, is, however, subject to RIL importing an equivalent quality and delivering to state-owned firm. 
	 
	
		"... RIL shall have to import the equivalent quantity and deliver it to public sector oil marketing companies (OMCs) at a price which makes this transaction cost-neutral or cheaper to OMCs vis-a-vis procurement of same quantity from domestic production by RIL," the order said. 
		 
		This arrangement would be valid till liquefied petroleum gas (LPG) import facility t Kandla Port in Gujarat is re-commissioned or March 31, 2016 or till further orders, whichever is earlier. 
		 
		
			There are a total of 183 parallel LPG marketers in the country. 
			 
			The government had in February last year asked RIL to stop retailing LPG produced in its Jamnagar, Hazira and Patalganga plants. 
			 
			
				The company has a vast network that supplies cooking gas to 1 million customers, mostly in rural areas, and 134 auto LPG outlets. 
				 
				
					RIL, the largest single location LPG producer in the country, had contested the ministry view saying rules do not mandate that all domestic LPG must be sold only to state firms. 
					 
					Also, it was selling domestic LPG in parallel market because state oil marketing firms were not willing to pay market rates. 
					 
					
						RIL's subsidiary <keyword id="3029415" type="UNKNOWN" weightage="80" keywordseo="LPG-Infrastructure-India-Ltd">LPG Infrastructure India Ltd</keyword> (LIIL) is undertaking parallel marketing of LPG and has substantial customers. It told the ministry that the move to prohibit the company from marketing gas would deprive its rural customers of the fuel. Its customers are mostly in rural areas of Gujarat, Maharashtra, Rajasthan and Madhya Pradesh. 
						 
						Following this, the Ministry on August 5, 2014 permitted RIL to sell up to 10,000 tonnes per month of LPG to parallel marketers till March 31, 202015. This has now been further extended till March next year. 
					 
					"Since the earlier notification... dated August 6, 2014 was expired on March 31, 2015, this notification is being issued with effect from April 1, 2015 to give continuity to the notification dated the August 6, 2014. No one is adversely affected by giving retrospective effect to this notification," the ministry order said. 
					 
					
						Image credit: Indiatimes

Government permits Reliance Industries to sell LPG to private marketers

New Delhi, Jun 5 () Shares of Reliance Industries, which gained over 2 per cent in early trade on Friday, later closed the day on a flat note due to profit-booking. In early trade, shares of Reliance Industries hit one-year high after the company announced sale of 1.85 per cent stake in its digital unit, Jio Platforms, to Abu Dhabi-based sovereign investor Mubadala. On the BSE, the heavyweight stock closed at Rs 1,580.60, up 0.04 per cent after rising 2.38 per cent to Rs 1,617.70 -- its 52-week high -- during the day. It closed at Rs 1,579.20, a marginal decline of 0.03 per cent on the NSE after surging 2.41 per cent to its one-year high of Rs 1,618 during the trade. Earlier in the day, Reliance Industries announced the sale of 1.85 per cent stake in its digital unit to Mubadala for Rs 9,093.60 crore, the sixth deal in as many weeks that will inject a combined Rs 87,655.35 crore in the oil-to-telecom conglomerate to help it pare debt. "Mubadala Investment Company (Mubadala) will invest Rs 9,093.60 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore," the company said in a statement. With this investment, Jio Platforms has raised Rs 87,655.35 crore from leading global technology and growth investors including Facebook, Silver Lake, Vista Equity Partners, General Atlantic, KKR and Mubadala in less than six weeks. Jio Platforms, a wholly-owned subsidiary of Reliance Industries Ltd, is a next-generation technology company. SUM HRS

Reliance Industries shares close flat

New Delhi, Jun 25 () Fitch Ratings on Thursday said it has upgraded Reliance Industries Ltd's rating to 'BBB+' from 'BBB' as the company's financial profile has improved following sale of nearly 25 per cent stake in Jio and Rs 53,124 crore equity raise. "Fitch Ratings has upgraded India-based RIL's long-term local-currency issuer default rating (IDR) to 'BBB+' from 'BBB'. The Outlook is Stable," the ratings agency said in a statement. At the same time, the agency has affirmed RIL's long-term foreign-currency IDR at 'BBB-' with a stable outlook. 'BBB' ratings indicate that expectations of default risk are currently low. "The upgrade of the local-currency IDR is driven by our expectations of an improvement in RIL's financial profile, with net debt reductions underpinned by proceeds from a stake sale in its subsidiary, Jio Platforms Ltd, and a rights issue, and our forecast of positive free cash flow (FCF) during the financial year ending March 2021 (FY21)," it said. Fitch forecast that RIL's net debt/EBITDA will fall to 0.6x in FY21 from 2.3x in FY20. "RIL's local-currency IDR also reflects its strong business profile with a market leading position and diversified cash flows from a mix of oil to chemical and consumer businesses," the statement said. Fitch kept the stable outlook on RIL's foreign-currency IDR despite the revision in Indian sovereign's rating outlook to 'negative' from 'stable' on June 18, as it expected the company's hard currency (HC) external debt-service ratio to improve over the next 12 months. "Our expectation is driven by RIL's ability to reduce its foreign-currency borrowings outside India from the proceeds of the stake sale in Jio Platforms and its rights issue," it said. Fitch said proceeds of Rs 1.15 lakh crore from 24.7 per cent stake sale in Jio Platforms and the completion of its Rs 53,124 crore rights issue, with Rs 13,300 crore in cash received to date and the balance in FY22, would cut RIL's FY21 net leverage to well below 1.5x. It expected RIL's capital expenditure (capex) to fall from FY21 following the completion of most of its planned spending in its various business segments. The company's expansion of its fibre business is likely to be the major capex driver over the medium term, along with its investment in the domestic upstream business in a joint venture with BP plc over the next two-to-three years. FCF should turn positive in FY21, the first time since FY13, driven by robust operating cash flows, especially from its consumer businesses, and lower capex, it said. Fitch expects RIL's oil-to-chemical segments to face volume and margin headwinds due to a weakening of demand for refined products and petrochemicals in 2020, with gradual recovery through 2021 to pre-COVID-19 levels. Its telecom business, Reliance Jio Infocomm Ltd (Jio), is likely to be less affected by the coronavirus lockdown and contribute about 35 per cent of consolidated EBITDA in FY21 (from 26 per cent in FY20). Fitch said Jio's average revenue per user (ARPU) is expected to rise to Rs 147 in FY21 from Rs 131 in Q4 FY20. Also, 30 million subscribers are likely to be added in FY21 after 80 million additions in FY20. The rating agency expects RIL's retail segment revenue, excluding the digital-service business, to rise by 10 per cent in FY21 (compared to 15 per cent in FY20). "Retail revenue would be affected by lower footfall in its physical retail stores and a drop in spending on discretionary electronics and lifestyle products. "However, the impact will be mitigated by higher grocery sales and its partnership with Facebook, which allows users to buy goods and services using WhatsApp and Facebook Messenger," it added. ANZ ABM ABM

Fitch upgrades Reliance Industries' rating

<ul><li><keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>' ₹53,125 crore rights issue will open for subscription on May 20 and close on June 3.</li><li> One will be offered for every 15 shares held at ₹ 1,257 — a 14% discount as per the closing price on April 30.</li><li>The company claims that the rights issue is not about mitigating its debt, but about rewards shareholders.</li></ul> Oil-to-telecom conglomerate Reliance Industries Ltd on Saturday said its mega Rs 53,125 crore rights issue will open for subscription of shareholders on May 20 and close on June 3. Billionaire <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue -- India's biggest and the first such issue by the firm in nearly three decades. Reliance had earlier fixed May 14 as the record date for determining shareholders' eligible to apply for the issue. In a regulatory filing, the company said the rights issue committee of the board of directors at its meet on May 15 approved issue opening on May 20 and closing date of June 3. "Abridged letter of offer, application form of rights issue, and rights entitlement letter, to be sent to the eligible equity shareholders of the company," it said. One share will be offered for every 15 shares held at Rs 1,257, a 14 per cent discount to the closing price for April 30. Reliance share price has since risen to Rs 1,458.90 (Friday's closing price) but rights issue price remains the same. The proposed rights issuance will be the first by Reliance in three decades. Typically, cash-strapped companies use rights issues to raise money when they really need it. In these rights offerings, companies grant shareholders the right, but not the obligation, to buy new shares at a discount to the current trading price. But for Reliance, it is not about raising funds as it has significant liquidity with USD 23.4 billion of cash and equivalent. It is being seen as an attempt to reward the shareholders, cut debt at the group and underscore promoters' faith in the Reliance growth story. Promoter Ambani family has under-written the entire rights issue, pledging to buy shares that are unsubscribed. The last time Reliance tapped the public for funds was in 1991 when it had issued convertible debentures. The debentures were subsequently converted into equity shares at Rs 55 apiece. Ambani had in August last year unveiled plans to cut debt to zero by 2021. As part of this plan, RIL has been seeking strategic partnerships across its businesses while targeting to deleverage the balance sheet. At the end of March quarter, RIL had an outstanding debt of Rs 3,36,294 crore. It also had cash in hand of Rs 1,75,259 crore, bringing the net debt position to Rs 1,61,035 crore. As part of its balance sheet deleveraging plans, Reliance has sold minority stake in its digital unit Jio Platforms to likes of Facebook. It is also talking to Saudi Aramco for selling a fifth of its oil-to-chemicals business for an asking of USD 15 billion and has sold half of its fuel retail venture to BP Plc for Rs 7,000 crore and telecommunication tower business to Brookfield for Rs 25,200 crore. Together, proceeds from these transactions will result in reduction in RIL's net debt. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/indian-women-dont-like-being-gig-workers/articleshow/75757460.cms">Indian women don’t like being gig workers ⁠— the potentially $450 billion industry has to woo them with fair pay to start with</a> <a href="https://www.businessinsider.in/entertainment/news/carry-minati-youtube-vs-tiktok-video-removed-for-violating-terms-of-service/articleshow/75749665.cms">Carry Minati's 'YouTube vs TikTok' video removed for violating terms of service — fans claim injustice</a> <a href="https://www.businessinsider.in/policy/economy/ashok-gulati-interview-on-essential-commodities-act-and-apmc-changes/articleshow/75760364.cms">"I have been asking for this for 20 years," says Ashok Gulati, agriculture scientist ⁠— cheering the changes to Essential Commodities Act and APMC</a>

Reliance Industries' ₹53,125 crore right issue will kick off on May 20 — you'll have till June 3 to subscribe

<keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> on Friday said its wholly-owned subsidiary Reliance Strategic Business Ventures Ltd (RSBVL) has acquired over 51 per cent stake in Asteria Aerospace for Rs 23.12 crore. "RSBVL has acquired equity shares of Asteria Aerospace for a cash consideration of Rs 23,12,49,584. The said investment represents 51.78 per cent holding in the equity share capital of Asteria," Reliance Industries Ltd (RIL) said in a BSE filing. The investment will further enable the group's initiatives in emerging technology, it added.
 RSBVL proposes to make a further investment of up to Rs 125 crore, subject to Asteria achieving agreed milestones, and is expected to be completed by December 2021, it said.
 "Post the further investment, the shareholding of RSBVL will increase to 87.3 per cent of the equity share capital of Asteria," it added.
 On Thursday, RSBVL had said it has picked up 85 per cent stake in NowFloats Technologies for a cash consideration of Rs 141.63 crore.
 Asteria, incorporated in India in June 2011, is a full-stack drone technology company with in-house drone manufacturing capabilities, and also offers software solutions to provide actionable insights from aerial data, intending to deliver "drone-as-a-service" digital platform.
 An early stage company, Asteria had a turnover of Rs 1.96 crore in 2018-19. SR RVK

Reliance Industries is getting into drones with its new purchase

<keyword id="6487" type="CITY" weightage="80" keywordseo="Reliance-Industries-Ltd">Reliance Industries Ltd</keyword> plans to shut a crude distillation unit (CDU) at its <keyword id="154691" type="COMPANY" weightage="80" keywordseo="Jamnagar-refinery">Jamnagar refinery</keyword> in Gujarat for 10 days in the first half of July for maintenance and <keyword id="6378857" type="ORGANIZATION" weightage="80" keywordseo="repair">repair</keyword>. 

	The other three distillation units, including major secondary processing units will operate normally during this period and the planned maintenance activity will not have any impact on commercial commitments, ET reported on Monday, citing a release by the company. 
 

	According to the company, the routine shut down will also help it carry out necessary modifications to improve the reliability and performance of the unit.
 

	Reliance, owner of the world's biggest refining complex, has two mega-sized refineries in India. The older 660,000-bpd refinery at the complex also has two crude units and mainly caters to domestic demand. 
	 
	(Image: Reuters)

Reliance Industries to shut Jamnagar CDU for 10 days

Mumbai, The <keyword id="63783" type="COMPANY" weightage="20" keywordseo="Securities-and-Exchange-Board">Securities and Exchange Board</keyword> of India (<keyword id="35210" type="COMPANY" weightage="20" keywordseo="sebi">SEBI</keyword>) has imposed a penalty of ₹25 crore and ₹15 crore respectively on <keyword id="6355199" type="DOMAIN" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL) and its Chairman <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> for <keyword id="4916480" type="PERSON" weightage="20" keywordseo="manipulative-trading">manipulative trading</keyword>. The <keyword id="529056" type="PERSON" weightage="20" keywordseo="Sebi-order">SEBI order</keyword> observed that RIL had entered into a well-planned operation with its agents to corner the open interest in the RPL (Reliance Petroleum) futures and to earn undue profits from the sale of RPL shares in both cash and futures segments and to dump large number of RPL shares in the cash segment during the last ten minutes of trading on the settlement day resulting in a fall in the settlement price. The case pertains to 2007. It also observed that Mukesh Ambani being the Chairman &amp; Managing Director of RIL, was responsible for its day-to-day affairs and thereby, liable for the "manipulative trading" done by RIL. The order noted that <keyword id="656309" type="PERSON" weightage="20" keywordseo="Navi-Mumbai-SEZ">Navi Mumbai SEZ</keyword> Pvt Ltd and Mumbai SEZ Ltd have allegedly aided and abetted RIL by providing funds to one of the agents appointed by RIL, who in turn provided funds to other 11 agents for making the margin payments for the short positions in RPL November Futures. The capital market regulator imposed penalties of ₹20 crore and ₹10 crore on Navi Mumbai SEZ and Mumbai SEZ respectively. As per SEBI, it was observed that a resolution was passed by the <keyword id="136326" type="COMPANY" weightage="20" keywordseo="Board-of-Directors">Board of Directors</keyword> of on March 29, 2007 which approved the operating plan for the year 2007-08 and resource requirements of the next two years -- around Rs. 87,000 crore. Thereafter, RIL decided to sell approximately 5 per cnet of its shareholding in RPL (up to 22.5 crore RPL shares) in November 2007. Subsequently, RIL admittedly appointed 12 agents, between October 30, 2007 to November 3, 2007, to undertake transactions in the November 2007 RPL Futures (settlement period November 1- November 29, 2007) on its behalf. The said 12 agents appointed by RIL took short positions in the F&amp;O Segment on behalf of RIL, while RIL undertook transactions in RPL shares in the cash segment. During the period of November 1, 2007 to November 29, 2007, various transactions were undertaken by RIL in the cash segment and by RIL through the agents in the F&amp;O segment. From November 15, 2007 onwards, RIL's short position in the F&amp;O segment constantly exceeded the proposed sale of shares in the cash segment. Further, the probe showed that on November 29 2007, RIL sold a total of 2.25 crore shares in the cash segment during the last 10 minutes of trading resulting in fall in the prices of RPL shares, which also lowered the settlement price of RPL November Futures in the F&amp;O Segment. RIL's entire outstanding position of 7.97 crores in the F&amp;O Segment was cash settled at this depressed settlement price resulting in profits on the said short positions. The said profits were transferred by the agents to RIL as per a prior agreement, said the order dated January 1. SEBI noted that an order noted dated March 24, 2017 had directed RIL to disgorge an amount of ₹447.27 crore along with interest calculated at the rate of 12% per annum from November 29, 2007 onwards till the date of payment. Further, RIL was prohibited from dealing in equity derivatives in the F&amp;O segment of stock exchanges, directly or indirectly, for a period of one year from the date of the said Order. "I find it appropriate to consider the direction in the nature of debarment and the disgorgement that has already been passed against RIL herein as a relevant factor while deciding the quantum of penalty," it said. "I have also considered the quantum of loans advanced by Noticee-3 (Navi Mumbai SEZ) and Noticee-4 (Mumb ai SEZ) to the agent appointed by RIL. Considering the above, I proceed to impose an appropriate penalty on each of the noticee that serves as a deterrent to the noticees and others indulging in such fraudulent trade practices." SEE ALSO: <a href="https://www.businessinsider.in/international/news/ten-of-the-most-outrageous-predictions-for-2021-according-to-saxo-bank/slidelist/80040045.cms">From Amazon buying Cyprus to Germany bailing out France — here are ten of the most ‘outrageous’ predictions for 2021</a> <a href="https://www.businessinsider.in/business/startups/news/india-edtech-in-charts-how-the-shi[%E2%80%A6]es-of-byjus-unacademy-and-others/articleshow/80040270.cms">India’s edtech in charts – How the shift to online learning meant money, valuation and users for the likes of BYJU’S, Unacademy, and others</a> <a href="https://www.businessinsider.in/business/auto/news/kia-motors-11-electric-vehicles-in-2021-but-india-may-have-to-wait-longer-to-buy/articleshow/80056447.cms">INTERVIEW: Kia Motors’ 2021 plan includes 11 electric vehicle launches ⁠— but India may have to wait longer</a>

SEBI imposes penalty on Mukesh Ambani and Reliance Industries for manipulative trading

Shares of <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> on Wednesday rebounded nearly 6 per cent after plunging over 12 per cent in the previous session.The stock was trading 3.49 per cent up at Rs 1,152.05 on the BSE. In early trading hours the stock gained as much as 5.8 per cent to Rs 1,178.40. On the NSE, it was quoting at Rs 1,151.65, up 3.37 per cent. It touched a high of Rs 1,178.45, higher by 5.77 per cent. More than 1.71 crore shares of Reliance Industries were traded on the NSE, while BSE saw an exchange of 57 lakh shares till noon. The spurt in volume was more than 6.70 times during the day on the BSE. After surging 308 points in highly volatile trade, BSE benchmark Sensex was up 196.45 points, or 0.55 per cent, at 35,831.40, and the NSE Nifty rose 33.60 points, or 0.32 per cent, to 10,485.05. Shares of Reliance Industries on Monday slumped as much as 13 per cent amid a price war among oil producers leading to international crude prices crashing by their biggest margin since the 1991 Gulf war. Global oil benchmark Brent crude futures were trading 0.24 per cent higher at USD 37.31 per barrel at 1230 hours. Domestic financial markets were closed on Tuesday for Holi.

Reliance share price rebounds by 6% as crude prices rise

New Delhi, Jan 20 () Shares of Reliance Industries Ltd (RIL) fell nearly 3 per cent on Monday after the company's December quarter earnings failed to enthuse investors.
 The scrip of the country's most valuable company dropped 3.08 per cent to close at Rs 1,532 on the BSE. During the trade, it hit a high of Rs 1,609.50, but later gave up all gains and plunged 3.39 per cent to Rs 1,527.
 At the NSE, it dipped 3 per cent to close at Rs 1,532.20.
 The company's market valuation tumbled Rs 30,824.21 crore to Rs 9,71,168.79 crore on the BSE.
 In terms of volume, 6.51 lakh shares of the company were traded on the BSE, while about 1.5 crore shares changed hands on the NSE during the day.
 Reliance Industries on Friday reported a quarterly net profit of Rs 11,640 crore as a turnaround in oil refining business together with the continued rise in share of its consumer businesses of retail and telecom countered lower profitability in petrochemicals.
 The company declared its earnings post market hours.
 The oil-to-telecom conglomerate, led by richest Indian Mukesh Ambani, reported a net profit of Rs 11,640 crore, or Rs 18.4 per share, in October-December, up from Rs 10,251 crore, or Rs 17.3 a share, in the same period of the previous financial year, the company said in a statement.
 This is the highest quarterly net profit earned by any private company, surpassing its own previous best of Rs 11,262 crore in the July-September 2019 period.
 However, consolidated revenue fell 1.4 per cent to Rs 1,68,858 crore in the third quarter of 2019-20. SUM
RVK

Reliance Industries shares fall 3 pc

<keyword id="6355199" type="CITY" weightage="40" keywordseo="Reliance-Industries">Reliance Industries</keyword> today reported a 16% jump in the March quarter net profit to a record quarterly earning of Rs 7,398 crore on the back of higher <keyword id="142668" type="UNKNOWN" weightage="20" keywordseo="Refining">refining</keyword> and petrochemical margins. 

	Consolidated net profit of Rs 7,398 crore in January-March is against Rs 6,381 crore in the same period a year ago, the company said in a statement.
 RIL earned $10.8 on turning every barrel of <keyword id="45185" type="UNKNOWN" weightage="20" keywordseo="Crude-oil">crude oil</keyword> into fuel compared with a gross refining margin of $10.1 in the fourth quarter of 2014-15. Refining margin outperformed Singapore benchmark by $3.1 per barrel. The company said it posted a record quarterly consolidated <keyword id="634742" type="ORGANIZATION" weightage="20" keywordseo="PBDIT">PBDIT</keyword> (profit before depreciation, interest, and taxes) of Rs 13,994 crore, up 16.9 per cent. 

	The retail business achieved sales of Rs 5,781 crore during the quarter, up 21 per cent year-on-year, with EBIT of Rs 131 crore up 26 per cent.

Reliance Industries Ltd Q4 profit rises 16% to Rs 7,398 crore

<keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> - India's largest corporate by revenues, profits and market value - topped 2021 Wizikey News Score ranking as India's most visible corporate in the media. The recognition comes on the back of Exchange4Media Group's recognition recently to Reliance as one of India's Brands with Best In-house Communications Professionals 2021. Role of a vibrant and savvy Corporate Communications team is extremely important in ensuring media visibility for any company. Wizikey's News Score is world's first standardised metric to measure news visibility for brands and individuals using Artificial Intelligence, Big Data, Machine Learning and media intelligence. The News Score takes into account various key criteria like volume of news, headlines presence, the reach of publications, readership and the like. The score ranges from 0 to 100, and is based on monitoring of over 5000 publications. It represents the media presence of a brand in publications that matter. For its No 1 position Reliance has a News Score of 84.9 for 2021, followed by State Bank of India, Bharti Airtel, Infosys, Tata Motors. Only a few global companies like Google and Facebook have a score above 90. Reliance's News Score excludes standalone headline mentions of 'Jio'. The inclusion should have meaningfully enhanced the score. Reliance made quite a few key announcements this year across its businesses, as well as philanthropic initiatives, which played a key role in its media visibility. Reliance was at the forefront of India's fight against Covid during the second wave in 2021. Most importantly, it transformed its manufacturing units to emerge India's single largest medical oxygen producer equivalent of 11 per cent of India's total production. Reliance supplied over 1000 MT per day liquid oxygen to support over one lakh hospitalized patients free of cost. Reliance also carried out the largest vaccine drive among India Inc to administer over 2.5 million vaccine doses to its employees, their families, as well as members of society. Reliance announced its road map to lead India's transition to Green Energy, including four Giga Factories at Jamnagar with over $10 billion of investment commitments Reliance announced five key collaborations - NexWafe, REC, Ambri, Sterling &amp; Wilson Solar and Stiesdal - for critical next generation technologies and implementation capabilities to drive its Green Energy foray. Reliance commissioned two gas fields in KG basin and successfully conducted auctions to sell its gas to domestic consumers. Reliance is now on its way to contribute 15 per cent of India's total natural gas requirement. Reliance Jio augmented its spectrum by 55 per cent in the auctions held in March 2021 and emerged the largest holder of sub-GHz and 2300 MHz bands. Reliance launched the most affordable smartphone 'Jio Phone Next' in collaboration with Google at an entry level cost of Rs 1,999. The phone runs on optimized version of Google's Android OS called 'Pragati OS'. In line with its vision to add technology-led solutions to serve customers better, Reliance group also made a few acquisitions during the year. They included JustDial, SkyTran, and Urban Ladder. Jio-bp launched their first fuel retailing outlet to start offering additivated fuels and a differentiated value proposition. Reliance has been a leading newsmaker among Indian corporates in the past as well. SEE ALSO <a href="https://www.businessinsider.in/business/news/snapdeal-ipo-paper-reveals-that-it-is-going-offline/articleshow/88408081.cms" data-type="tilCustomLink">Snapdeal IPO papers reveal the e-tailer’s offline aspirations for budget fashion</a> <a href="https://www.businessinsider.in/stock-market/news/mapmyindia-ipo-makes-a-positive-stock-market-debut/articleshow/88403594.cms" data-type="tilCustomLink">MapmyIndia debuts below expectation but IPO investors still make a sweet 53% return on listing</a> <a href="https://www.businessinsider.in/business/startups/news/zepto-raised-100-million-at-570-valuation-to-deliver-product-in-10-minutes/articleshow/88394937.cms" data-type="tilCustomLink">Two teenage Stanford dropouts have made their startup worth half a billion in 7 months</a>

You Searched For "Reliance Industries" and got 12 results

NVIDIA and Reliance Industries to build AI computing infrastructure in India

Sourabh Jain

Government permits Reliance Industries to sell LPG to private marketers

BI India Bureau

Reliance Industries shares close flat

PTI

Fitch upgrades Reliance Industries' rating

PTI

Reliance Industries' ₹53,125 crore right issue will kick off on May 20 — you'll have till June 3 to subscribe

PTI

Reliance Industries is getting into drones with its new purchase

PTI

Reliance Industries to shut Jamnagar CDU for 10 days

BI India Bureau

SEBI imposes penalty on Mukesh Ambani and Reliance Industries for manipulative trading

IANS

Reliance share price rebounds by 6% as crude prices rise

PTI

Reliance Industries shares fall 3 pc

PTI

Reliance Industries Ltd Q4 profit rises 16% to Rs 7,398 crore

BI India Bureau

Reliance Industries ranked as India's most visible corporate in media

IANS

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