Reliance Industries Ltd has informed the market today that the Directors have approved a strategic partnership with BP. This partnership involves formation of a 50:50 joint venture for sourcing and marketing of Gas in India and BP taking a 30% stake in 23 oil and gas production sharing contracts that Reliance operates in India.
Reliance is making head lines for almost a month on every Sunday and this Sunday its just between 2 of the ADAG’s Concern , In order to cope up with the growing demands of the oil and natural gas that is needed for the power generation ADAG group and the Board as approved merger of RNRL with Reliance Power , The boards of Reliance Power (RPower) and Reliance Natural Resources (RNRL) on Sunday, 4 July 2010, approved the merger proposal as well as the share swap ratio based on the valuation by consultancy firm KPMG, the Anil Dhirubhai Ambani Group (ADAG) said in a media statement.The reliance power stock went up by 4 percent or so and the RNRL stocks was down by 25 percent or so , They said they are doing a stock swap ratio of Every 1 Reliance power share for every 4 RNRL .Automatically that puts the stock price of RNRL at 45 rs, so it came down heavily today.
RNRL down by 26 percent to 47 or so at 10.00 AM on July 5th 2010
Reliance Power up by 3.23 percent quoting at 180 or so at 10.00 am on july 5th 2010
It almost 2 weeks or so when Ambani brothers called truce and kind of joined hands.The market was hitting right and left news from Reliance group of companies only , Yesterday the Reliance Communication has informed the market that the board of directors of Reliance Communications Ltd (RCom) has approved “in principle the induction of strategic/ private equity investors into the company for an up to 26 per cent equity stake at an appropriate premium to the prevailing market price”.
We are thinking Reliance Communication might raise any where from 3.9 billion to 4 billion dollar , this would be really helpful at the time where they shelled out lot for 3G and also need more to spread it across the country and they are also planning to make the deal again with MTN.The stock price went up from 133 or so from june 3 \rd to almost 176 which is the rate today.
This is the hot news on sunday Noon , that Mukesh and Anil has once again join hands , dont come to any conclusion its all good news only , Reliance Industries led by Mukesh D Ambani, and Reliance ADA Group companies, Reliance Communications, Reliance Infrastructure, Reliance Natural Resources, and Reliance Capital, led by Anil D Ambani, have approved and they have also signed an agreement cancelling all existing non-compete arrangements , which was enetered as part of the broke up that happened in January 2006 ,they have entered into a new simpler, non-compete agreement with respect to only gas-based power generation.Ril has even agreed not to enter into gas based power generation until March 2022.
Think there are so many people who commented on the rboke up before as a act to bring in 2 big Releiance firm and that has happened already and now they are slowly paving way to re join .
Reliance Industries dint have a very good 2010 starting on the first day of the year the stock was in red all the time , the reason was that the Petroleum Trust sold approximately 258.50 lakh equity shares of the Company on January 04, 2010.Reliance Industrial Investments and Holdings Ltd, a wholly owned subsidiary of RIL, is the beneficiary of the Trust.The trust will get almost Rs. 2675 crore,whoever bought that stake would have got it for Rs.1035 per share.
Reliance MediaWorks Ltd has informed the market that after getting approval from the Registrar of Companies, Maharashtra, Mumbai,which was applied on october 5th 2009 , finally they changed the company name Adlabs Films LTD to “Reliance MediaWorks Ltd”.
Reliance Industries Ltd has informed the market that the Board of Directors on the meeting that was held on october 7th 2009 , where they came out with results , has given a diwali sweet of a Bonus Issue , they announced they are giving a Bonus of 1:1 and also a dividend of of Rs. 13 (Rupees thirteen only) per fully paid-up equity share of Rs. 10/- each.
Reliance Energy IPO , Reliance Power Transmission IPO , Reliance Metro IPO Buzz created interest in the reliance infrastructure stock today , the stock went up by 5.71 percent or 63 rs today in bse.A top company executive was quoted by the media as saying that the company is not in a hurry, but will list a few entities when it grows to substantial size. The estimation is that distribution, transmission and metro businesses will become mature for listing in one-two years, with the execution of existing and forthcoming orders.(Source: Media)
Reliance Infratel Ltd, which is a subsidiary company promoted by Reliance Communications Ltd, a part of Reliance Anil Dhirubhai Ambani Group, said that its going to undertake an IPO of equity shares,they have informed that they have filed the DRHP for the same with SEBI again yesterday september 24th 2009 .The IPO proposed is for 15,60,00,000 shares of rs 10 each to be given at a premium which is to be decided later , some banks are saying that they might be aiming for 1 billion dollar through the IPO , if thats the case then premium would be anywhere from 300 to 330 .But we will see nothing is sure until the final premium is out.
Reliance Infratel IPO which we talked about a year back and which was hived off as the IPO market was looking very bad is now back on thew table , Reliance Infratel is planning a 10 % stake sale of equity through an IPO. 85 % of the stake of the company will remain with Reliance Communications.Please come back here to read more about reliance infratel ipo .Reliance Infratel is planning to file a fresh DRHP with SEBI .
Reliance Industries Ltd (RIL) is almost down by 90 rs today , its because the company infromed the market that Petroleum Trust sold 1,50,00,000 equity shares of the Company on September 17, 2009. Reliance Industrial Investments and Holdings Ltd, a wholly owned subsidiary of RIL, is the sole beneficiary of the Trust and the sale was done on September 17th 2009 , they holded the stock at a price of 158 rs per share and they sold it now at a price of 2125 per share .
Reliance Petroleum merger with Reliance Industries has been approved today by the Mumbai high court and after the ruling reliance industries has issued a statement saying that they have set September 29th 2009 as the record date for the amalgamation which means , those who hold reliance petroleum shares as of that date will be eligible for the swap of Reliance industries , They are swapping shares in the ration of 16 Reliance Petroleum stock for 1 Reliance Industries stock.They have submitted to BSE note on the Scheme of Amalgamation of Reliance Petroleum Ltd with Reliance Industries Ltd.
|Reliance Industries||Reliance Petroleum|
we already know that Reliance infrastucture is already part of the Mumbai Metro 1 Project and now asa copnsortium of Reliance Infrastructure , Reliance Communications, and Canada’s SNC-Lavalin it has won the Mumbai Metro II project to link Navi Mumbai and Charkop and Mankhurd in suburban Mumbai.this project is 32 kilometre Metro-II line from Charkop, a western suburb of Mumbai, to Mankhurd in the east , it will have 27 stations , they are expecting to complete it by 2015.
The company will sign a concession agreement, giving the group 35 years to operate the railroad that can be extended by another 10 years, within 45 days of the issue of letter of award.
Im not sure what Relaince communication is doing in the consortium may be they are going to take care of the communication part but im sure when its finished this is going to be as of now the biggest metro in India.
They are expecting Financial closure would be completed within nine months of signing of the concession agreement.
Sensex has gone down below 15k and its one of the biggest down in 7 weaks , lost almost 435 points or 2.91 percent .First to start with the global cue was not that positive , but normally its runs the shoulder dust and it goes up , but even the national level the sentiment was not good . Index heavyweight Reliance Industries (RIL) declined sharply which boruight the sensex down heavily , it all started with the court ruling that happened this week against RIL , From that moment on RIL i down by 12.5 percent . there was heavy selling in mid and small cap also and in sectors across realty, metal and capital goods stocks.
Monday market started today with a big bang in which RIL was down by 5 percent as the Mumbai High Court gave verdict favourable to RNRL over the KG basin D6 gas, they have asked RIL to supply gas to the latter to the tune of 28 mmscmd for 17 years at a price of USD 2.34 per mmbtu instead of USD 4.2 per mmbtu.The next action might be from RIL in gettign this case to Supreme Court.
Reliance Capital who stock is almost up by more than 45 percent in just 4 trading session has informed that its looking to divest up to 26 percent in its insurance arm Reliance Life Insurance through an IPO as well as by inducting a strategic investor. Reliance Capital holds 100% in Reliance Life Insurance. Reliance Life Insurance would be valued well in excess of Rs 12,000 crore and they will have more clear picture on it in another 3 to 4 months.
Reliance Life insurance is considered to be 4th strongest in line next to ICICI, SBI Life and Bajaj Allianz. They have almost more than 10 percent share in the indian insurance market.
Reliance power stock which was quoting at almost 130 rs is trading at 160 rs in just 2 days , The wave is not really because of the total market effect but because of a real or a rumor news that 20 cr worth of reliance power share might be offered in a block deal via book-built route for 3000 crore at 150 per share.
Reliance Petroleum Ltd has informed the market that on aBoard Meetign that was held on March 02,2009 , They have agreed on the amalgamation of scheme to merge with Reliance Industries Ltd (the “Transferee Company”) under the provisions of Sections 391 to 394 of the Companies Act, 1956.The Scheme shall be subject to necessary approvals of shareholders and creditors and sanctions of the Hon’ble High Court of Judicature at Bombay and the Hon’ble High Court of Gujarat at Ahmedabad.
Date of the amalgamation or Merger is April 01, 2008.
Merger Stock details : Every Reliance Petroleum Shareholders will receive 1 fully paid equity share of Rs 10 each of Reliance Industries Ltd for every 16 fully paid equity shares of Rs 10 each of the Company held by them on the record date to be fixed by the Transferee Company.
Read more info here.
Jet airways saw a turning point in its proce today as all the airline stock are hitting rock bottom because of fuel price hike and other spendings, Jet airways saw some increase in share price after they reveaked news of Reliance Industries trying to get a Pie of Jet airways.The Real deal as heard is that
“Reliance Industries’ (RIL) acquiring the minority stake inJet airways is for the proposed cargo airline venture of Jet Airways and not really in the Passenger Division. RIL is in the process of developing two SEZs in Mumbai and Haryana and is exploring buying cargo planes for shipping out the goods generated in these SEZs.”
Reliance Power Ltd has informed the market today that the Register of Members & Share Transfer Books of the Company will remain closed from June 03, 2008 to June 05, 2008 for the purpose of Issue and allotment of Bonus shares.
Reliance Industries net profit rose 37.12% to Rs 3912.00 crore in the Qtr End of March 2008 compared to Rs 2853.00 crore in the Prev Qtr YOY of 2007. Sales rose 43.99% to Rs 37286.00 crore in the Qtr End of March 2008 compared to Rs 25895.00 crore in the Prev Qtr YOY of 2007.
Reliance Industrial Infrastructure net profit rose 52.37% to Rs 6.43 crore in qtr end Mar 2008 compared to Rs 4.22 crore during the during the same QTR Prev Year 2007. Sales rose 38.61% to Rs 18.92 crore in qtr end Mar 2008 compared to Rs 13.65 crore during the during the same QTR Prev Year 2007.
For the full year, net profit rose 14.02% to Rs 21.79 crore in the year ended March 2008 compared to Rs 19.11 crore during the previous year ended March 2007. Sales rose 20.26% to Rs 67.26 crore in the year ended March 2008 compared to Rs 55.93 crore during the previous year ended March 2007.
Reliance energy infromed the market today on Buy-Back of shares ,They have bought-back 1,21,500 equity shares of the Company as on March 31 2008 which amounts , so far bought back 9,51,500 equity shares aggregating Rs 122.39 crore.They told they will buy back upto 800 crores.
Reliance communication and HTC signed a deal that will help HTC’s foray into the fast-growing CDMA market in India and also it will help Reliance Communications to offer a wider range of world-class PDA (personal digital assistant) devices on the CDMA platform for its high-end data usage customers.
Two news devices has been offered HTC P3000 priced at Rs. 16,500 and HTC S720 priced at Rs. 19,500, respectively.
It was informed in the parliment today that Market regulator SEBI is investigating the alleged insider trading activities in the shares of Mukesh Ambani-run Reliance Petroleum.The share price of Reliance Petroleum came down after hearing the news.