Though Mukesh Ambani didn t take remuneration in 2020-21, Asia s richest man has seen consistent rise in his net worth throughout the year. Ambani had kept his annual salary from his flagship firm capped at Rs 15 crore for 12th year on the trot in FY20
Oil-to-telecom conglomerate
Reliance Industries contributed to most of the gains in benchmark index Sensex on Friday as it ended the day at Rs 2,094.90, up 5.9% on BSE. Sushil Choksey of Indus Equity Advisors decodes factors behind the rally in RIL stock. Edited excerpts:
Was today s rally in Reliance shares surprising? What were the triggers?
Reliance was underperforming since the last quarter. Nifty has gone up by almost 700-800 points since then. RIL has the highest weightage in Nifty. The prices of petrochemical products might be at a decade high now. The prices of polymer has also gone up. There were some reports by some foreign brokerage houses this morning related to this.
Brookfield-backed Summit Digitel to raise Rs 11,836 cr, RIL may invest
SECTIONS
Share
Synopsis
Reliance Industries will likely subscribe to the bonds, which will replace a long-term credit facility, a move that generally extends immediate repayment liabilities.
Agencies
The issue will likely open for subscription on Friday through electronic bidding platforms on the BSE and the National Stock Exchange.
Related
NSE
Explore Now
MUMBAI: Brookfield-backed Summit Digitel Infrastructure, which houses telecom towers used by Reliance Jio, is raising Rs 11,836 crore via local bonds.
Reliance Industries will likely subscribe to the bonds, which will replace a long-term credit facility, a move that generally extends immediate repayment liabilities. This is a record fund-raising by bonds issued in one shot via private placement.
Mukesh Ambani’s Reliance hives off O2C business ahead of Aramco deal
BCCL
Reliance Industries Limited announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary. Reorganisation of O2C business facilitates participation by strategic investors and marquee sector focused investors, it added.
Mumbai-headquartered oil major also announced that it aims to work with the O2C business to reduce its carbon footprint and become net carbon zero by 2035.
Mukesh Ambani-owned Reliance Industries Limited, India s most valuable company, announced the demerger of its oil-to-chemicals (O2C) business into a wholly-owned subsidiary.
In a late-night filing to stock exchanges, the company said the reorganization would enable a focused pursuit of opportunities across the O2C value chain, improved efficiencies through a self-sustaining capital structure.