Jio’s 100-million subscribers target appears an uphill task in the next one month, believe analysts. Also, the existing subscribers are already witnessing slowdown in data speed thanks to the high traffic. Reliance Industries’ move to extend the free services of its telecom venture Reliance Jio till March 31, 2017, was largely on expected lines. This means the capitalisation of Jio’s losses and its break-even will be pushed further forward. Notably, clarity on the ... Rediff.com, 2 days ago
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Over the past decade, RIL has never announced lesser dividend to its shareholders even when faced with lower profits With the Union Petroleum Ministry imposing a fine of $1.55 billion on the Mukesh Ambani-owned Reliance Industries Limited (RIL) for illegally extracting natural gas from ONGC fields in the Krishna Godavari Basin, the company’s shares fell by over 2 per cent since morning. However, the decision could have little long term impact on RIL which had a market capitalisation of ...Rediff.com, 4 weeks ago
The Mukesh Ambani-led Reliance Industries Ltd and its foreign partners, BP Plc and Niko Resources, may have to pay a penalty of more than $1 billion for commercially using the migrated gas from the block of state-run Oil and Natural Gas Corporation (ONGC) in the Krishna-Godavari basin. According to a source close to the development, the government is set to come out with a notification in this regard by the end of this week. Last month, the ministry of petroleum and natural gas had ...Rediff.com, 1 month ago
Profit taking in index heavweights RIL and HDFC weighed on sentiment while ICICI Bank surged 7% Benchmark share indices ended lower on Monday, amid weak global cues, as investors turned cautious post the earnings from IT majors TCS and Infosys. The S&P BSE Sensex ended down 27 points at 27,700 and the Nifty50 closed 8 points lower 8,576. In the broader market, the BSE Midcap and Smallcap indices ended down 0.5%-1% each. Market breadth ended weak with 1496 losers and 1306 gainers on the ...Rediff.com, 1 month ago
'We want to create more convenience to consumers. Good practices by all stakehoders are necessary. They have to create a good business model so that consumer will be at convenience.' Immediately after taking charge as the Union petroleum minister in May 2014, Dharmendra Pradhan, bottom, left, had to deal with one of the trickiest of issues in the sector. State-owned Oil and Natural Gas Corporation had alleged Reliance Industries Ltd (RIL) had unfairly produced its share of natural gas in the ...Rediff.com, 2 months ago
In the broader markets, BSE Midcap index slipped 0.3% whereas the BSE Smallcap index inched up by 0.2% Benchmark indices ended higher, amid choppy trades, after weak US data dimmed prospects of an interest rate increase by the Federal Reserve next week. Besides, India's trade deficit declined sharply to 38.1% to $7.67 billion in August 2016 from $12.39 billion in August 2015. Exports fell 0.3% to $21.52 billion in August 2016 over August 2015. Imports fell 14.09% to $29.19 billion in August ...Rediff.com, 2 months ago Markets dive for second straight day; Sensex falls 115 points, Midcaps drop 0.6% Rediff.com, 1 month ago
Dispute resolution provisions in the production sharing contract remained unimplemented, while the regulator faltered, points out Jyoti Mukul. While the Ajith Prakash Shah Committee report on migration of natural gas from Oil and Natural Gas Corporation (ONGC)’s block in the Krishna-Godavari basin to the adjacent field owned by Reliance Industries Ltd (RIL) helped in resolving the dispute partially, it also flagged the lack of regulatory mechanism in the high-stake upstream sector. The ...Rediff.com, 2 months ago
Indians prefer to buy electronic products such as smartphones offline. The reason being the ability to “touch and feel” Apple, among the world’s most-valuable tech companies, and Reliance Industries (RIL), India’s second-largest conglomerate, are looking at widening their distribution tie-up ahead of the iPhone 7 launch in the country next month. The move is significant since an arrangement such as this has never been seen in the domestic consumer electronics market, ...Rediff.com, 2 months ago
RJio’s aggressive plans will lead to significant impact on listed companies in this space, says Devangshu Datta. Reliance Industries (RIL) has been looking to enter the telecommunication service business for many years. The open commercial launch of services from Reliance Jio (RJio) finally took place after multiple vicissitudes. The launch itself has been preceded by a lot of acrimony, with other established telecom operators throwing accusations at Jio, and even at the Telecom ...Rediff.com, 2 months ago
HSBC maintained overweight rating on Indian equities, saying fundamentals are strong Benchmark indices extended gains and ended firm for four straight trading sessions supported by strong global cues on upbeat US growth news while buying among rate-sensitive sectors also aided the rally. The S&P BSE Sensex settled the day at 26,653, up 259 points, while the broader Nity50 closed at 8,225, up 82 points. Broader markets performed well in tandem with the benchmark indices. BSE Mid-Cap index ...Rediff.com, 4 days ago
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