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<ul><li> The nearly 6% rally in RIL shares accounted for almost all of Nifty’s gains on May 28.</li><li>For the week, RIL has gained over 5.7%, making this the fourth best week for its investors this year. </li><li>The stock has seen gains of over 6% thrice before this ⁠— in January, February and April, 2021.</li><li>Overall, the stock has remained in a narrow ₹300 band since November last year.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s promise of transforming <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> (RIL) from an energy giant to a technology-driven consumer enterprise had the street eating out of his hands last year. The excitement sobered down along with the lull, post the flurry of investments. However, the shares of RIL are getting hot again as some of the promises move closer to reality. The nearly 6% intraday rally in the shares of India’s biggest conglomerate, which has interests in everything from oil and gas to telecom to retail, is the most significant move in the stock in the last 2 months. The surge in RIL shares has been so strong that it accounts for nearly all the gains on the benchmark index, Nifty, as of 1 pm (May 28). Compared to the last week, it is up by over 2%. In comparison, RIL is up by 5.7%. <div type="image" title="RIL 31_03_21 to 28_05_21." msid="83031994" hostid="261" caption="&amp;lt;p&amp;gt;RIL share price&amp;lt;/p&amp;gt;"></div> However, investors will do well to remember that this is still within the range of ₹1,900 to ₹2,200 that RIL has shuttled between since November last year. A Bank of America Global Securities report dated May 19, 2021 suggests that RIL is in the driver’s seat when it comes to telecom, retail and digital fronts. “Overall, we find RIL well placed in its consumer business: telco, retail &amp; digital to benefit in coming years as it gains traction with improving scale,” the report stated. This is the fourth time the stock of Reliance has seen a weekly gain of over 4% this year. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains in RIL share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Week ending January 15, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.08% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Week ending February 5, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.83% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Week ending April 23, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6.17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Week ending May 28, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">5.71% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Week ending May 14, 2021 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.78% </td></tr></tbody></table>Source: BSE <cmsannotation type="cmsannotation" annotationid="Google to partner with Reliance Jio for low-cost smartphones" comment="subhead" text="Google to partner with Reliance Jio for low-cost smartphones">Google to partner with Reliance Jio for low-cost smartphones</cmsannotation> One of the triggers behind the massive surge in RIL’s share price could be news of the partnership with tech giant Google for a low-cost Jio smartphone. According to a <a href="https://www.financialexpress.com/industry/technology/google-reliance-jio-working-closely-to-launch-affordable-smartphone-in-india-sundar-pichai/2260038/">PTI report</a>, Google Chief Executive Officer (CEO) Sundar Pichai said that they have started working on the low-cost Jio smartphone. In July last year, <a href="https://www.businessinsider.in/business/news/google-picks-up-a-7-7-stake-in-mukesh-ambani-jio-for-33737-crore/articleshow/76977043.cms">Google picked up a 7.7% stake</a> in Jio Platforms for ₹33,737 crore. The two have come together for <a href="https://www.businessinsider.in/business/corporates/news/checkout-mukesh-ambani-reliance-industries-annual-general-meeting-highlights/articleshow/76976243.cms">Jio’s “2G-mukt Bharat”</a> (2G-free India) initiative, wherein Google will help Jio build a low-cost smartphone, presumably based on either Android or Kai operating system <cmsannotation type="cmsannotation" annotationid="Jio Platforms, Infibeam apply for NUE licence" comment="subhead" text="Jio Platforms, Infibeam apply for NUE licence">Jio Platforms, Infibeam apply for NUE licence</cmsannotation> Reliance’s digital services arm Jio Platforms and Infibeam have signed an agreement and applied for a New Umbrella Entity (NUE) licence, according to the latter. If approved, this would allow Jio and Infibeam to roll out a payments platform. This platform would be a for-profit one, and allows the licence holder to charge for transactions. <cmsannotation type="cmsannotation" annotationid="Another possible contributor to RIL rally" comment="subhead" text="Another possible contributor to RIL rally">Another possible contributor to RIL rally</cmsannotation> <div type="image" title="Balaji Telefilms 31_03_21 to 28_05_21." msid="83032017" hostid="261" caption="&amp;lt;p&amp;gt;Balaji Telefilms share price&amp;lt;/p&amp;gt;"></div> Balaji Telefilms, a quarter of which is owned by Ambani’s Reliance, has also gained over 20% since May 19. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/softbank-backed-paytm-pivots-to-a-3-billion-ipo-plan-a-year-into-the-pandemic-it-could-be-the-largest-market-debut-in-india/articleshow/83000446.cms">Softbank-backed Paytm fast tracks IPO plan a year into the pandemic ⁠— a $3 billion fundraising could be the biggest market debut in India</a> <a href="https://www.businessinsider.in/meet-anjali-sud-vimeos-ceo-who-used-to-market-diapers-and-got-rejected-from-every-big-investment-bank/articleshow/68319301.cms">Meet Anjali Sud, the Indian-origin CEO of Vimeo who took the video-streaming platform public</a> <a href="https://www.businessinsider.in/business/news/indias-micro-blogging-app-koo-raises-30-million-by-tiger-global/articleshow/82965589.cms">India's micro-blogging app Koo raises $30 million led by Tiger Global</a>

Despite the nearly 6% rally, this is only the fourth best week for Reliance Industries’ shares this year

<ul><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries boasts a market capitalisation of ₹7.46 trillion while <keyword id="8555" type="CITY" weightage="20" keywordseo="Tata">Tata</keyword> Consultancy Services’ market cap has fallen to ₹7.39 trillion.</li><li>Investors have been flocking to Reliance Industries after the conglomerate posted its largest-ever quarterly profit - ₹94.6 <keyword id="55426" type="COMPANY" weightage="20" keywordseo="billion">billion</keyword> - on 27 July. </li><li>However, TCS did beat Reliance Industries in the race to a $100 billion market capitalisation earlier this year.</li></ul> Not only does India’s richest man, Mukesh Ambani, have the world’s most expensive private residence, his company is now India’s highest valued. Investors have been flocking to Reliance Industries after the conglomerate posted its largest-ever quarterly profit of <a href="http://www.ril.com/getattachment/145642f6-5d47-48f2-8dd6-e811dba0c6e1/Financial%20performance%20for%20the%20quarter%20ended%2030th%20Jun,%202018.aspx">₹94.6 billion</a>, a 18% jump from the previous year, for the three months ending on 27 July. Its revenue grew by 10% to ₹1.42 trillion owing to higher sales of refining and petrochemical products. The resultant buying frenzy has led to a surge in Reliance’s share price from ₹1,116 to ₹1,180 as of this afternoon, thereby helping the Mukesh Ambani-led conglomerate overtake Tata Consultancy Services (TCS) the country’s largest software services exporter, as India’s largest company by <keyword id="6463972" type="UNKNOWN" weightage="20" keywordseo="market-value">market value</keyword>. At the time of filing this piece, Reliance Industries boasts a market capitalisation of <a href="https://www.moneycontrol.com/india/stockpricequote/refineries/relianceindustries/RI">₹7.46 trillion</a> ($108.8 billion). Meanwhile, TCS’ market cap has fallen to <a href="https://www.moneycontrol.com/india/stockpricequote/computers-software/tataconsultancyservices/TCS">₹7.39 trillion</a> after a poor week at the stock market, which saw its share price fall from ₹2,005 on 23 July to the current level of ₹1,944. The stock of the IT consultancy firm, which is owned by the Tata Group, has often been said to be overvalued based on years of single-digit revenue growth. It did, however, report a strong Q1 result on 10 July, with its operating profit up by 24%. However, the resulting growth in its share price was short-lived amid a wider selloff in the stocks of large IT companies. TCS first to $100 billion TCS, however, did beat Reliance Industries in the race to a $100 billion market capitalisation earlier this year. <a href="https://economictimes.indiatimes.com/tech/ites/tcs-hits-100-billion-market-cap-does-this-mark-a-new-phase-of-growth-for-india-inc/articleshow/63954619.cms">On 23 April</a>, TCS crossed the $100 billion mark - a feat that Reliance Industries was able accomplish only earlier this month, <a href="https://www.livemint.com/Companies/PSmz78z8kDe47II9MvqDeI/RIL-market-cap-hits-100-billion-shares-surge-5.html">on 12 July</a>. This fact makes Reliance’s surging market capitalisation all the more impressive. Its share price is up by nearly 28% since the beginning of the year, as it continues to expand in the retail and mobile segments. However, it’s worth mentioning that Reliance crossed $100 billion in terms of market cap way back in 2007, making it India’s largest company at the time. However, the rupee was trading at around 40 to the dollar around then. Coming back to the present, both Reliance Industries and TCS are far ahead of India’s third largest company by market capitalisation, HDFC Bank, which has a valuation of <a href="https://www.moneycontrol.com/india/stockpricequote/banks-private-sector/hdfcbank/HDF01">₹5.74 trillion</a>. It seems that the race to the top will feature just both of them for a while.

Reliance Industries just beat Tata Consultancy Services to become India’s highest-valued company

<ul><li><keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> today beat the British oil company BP Plc to enter the elite oil club. </li><li>Reliance Industries is now valued at $138 billion.</li><li>Having already become the first Indian company to have a ₹9.5 lakh crore market valuation, <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> is on its way to have a ₹10 lakh crore valuation. </li></ul>Asia’s richest man is only getting richer. <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Industries beat the British oil major British Petroleum to enter the elite and high stakes oil club. Currently, Exxon Mobil Corp tops the list of most valuable oil companies, and has Chevron Corporation, Royal Dutch Shell, Total in the list. Exxon’s position can be challenged with Saudi Aramco’s IPO in the works. Reliance is also moving closer to the Chinese giant PetroChina which is also a part of the club. The stock of Reliance Industries has been on a fast lane for the last few months, and the company is now valued at $138 billion, according to <a href="https://www.businesstoday.in/current/corporate/reliance-industries-overtakes-bp-plc-to-become-world-6th-largest-oil-company/story/390683.html">reports.</a> Even with the challenges in the oil industry due to crude prices, RIL’s market value increased by <a href="https://www.business-standard.com/article/companies/mukesh-ambani-s-ril-beats-bp-to-make-elite-club-of-6-global-energy-giants-119112000004_1.html">35% </a>in the current financial year. The share price of Reliance Industries hit a record-high ₹1,548.50 today. Having already become the first Indian company to achieve ₹9.5 lakh crore market valuation, RIL is on its way to have a ₹10 lakh crore valuation. Currently, Ambani is Asia’s richest man and holds the 14th rank in the list of world’s richest, with a net worth of $56.7 billion. SEE ALSO: <a href="https://www.businessinsider.in/thelife/personalities/news/cyrus-poonawalla-indias-vaccine-king-multiplied-his-wealth-nearly-5-times-in-a-decade/articleshow/72139237.cms">Cyrus Poonawalla, India’s vaccine king, multiplied his wealth nearly 5 times in a decade</a>

Mukesh Ambani’s RIL is inching close to ₹10 lakh crore market value – but already a part of elite global oil club

<keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>' promoter <keyword id="712976" type="PERSON" weightage="20" keywordseo="Devarshi">Devarshi</keyword> <keyword id="25225" type="PERSON" weightage="20" keywordseo="commercials">Commercials</keyword> LLP on Wednesday offloaded shares worth over Rs 11,000 crore in the firm through open market transactions.According to the block deal data on BSE, Devarshi Commercials sold shares of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries through two separate transactions. While 5,80,40,583 shares were sold at an average price of Rs 950 apiece, 5,80,40,587 shares were offloaded at Rs 949 per scrip. This took the total deal value to Rs 1,10,21,90,70,913. The data also showed that another promoter entity of Reliance Industries, <keyword id="8933763" type="COMPANY" weightage="20" keywordseo="samarjit-enterprises">Samarjit Enterprises</keyword> LLP, bought these shares at the same price. As per the shareholding data for December 2019 quarter, Devarshi Commercials held 11.48 per cent stake in Reliance while Samarjit Enterprises held 200 shares of the firm. Reliance Industries shares closed at Rs 1,081.25 on BSE, higher by 14.65 per cent.

Reliance Industries promoters buy and sell shares worth ₹11,000 crore in open market

Mukesh Ambani-led <keyword id="6355199" type="CITY" weightage="20" keywordseo="Reliance-Industries">Reliance Industries</keyword> is on the course to more than double its market capitalisation from $47 billion to $100 billion. 
 
Driven by higher GRMs, Reliance Industries has been outperforming the Sensex since one year now. 
 
As per a Morgan Stanley report, Reliance Industries will hit $100 billion in the next 3-4 years. 
 
"This is just the start. RIL is nearing the completion of its largest-ever capex programme of $46 billion over F14-17, paving the way for a multi-year cycle of strong FCF generation," the report stated. 
 
Morgan Stanley maintains an overweight rating on the stock with a 12-month target price of Rs 1,329, which translates into an upside of 37% from current levels in the next 12 months. 
 
The five reasons stated in the report for Reliance Industries’ capex surge are strong FCF generation starting FY17, Telecom (Jio's) turnaround is key, increase in oil prices to $60/bbl, Reliance Retail revenue to more than double and attractive valuations.

Mukesh Ambani’s Reliance to hit $100 billion m-cap in 4 years, says Morgan Stanley

<ul><li><keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>’ shares were trading at ₹2,510 at 9:44 a.m., surpassing the previous high of ₹2,478. </li><li>The Mukesh Ambani-led conglomerate’s market capitalisation touched ₹16.9 lakh crore.</li><li>Separately, ICICI Direct had issued a hold call on Reliance Industries shares with a target price of ₹2,480 last week.</li></ul>Shares of Reliance Industries have been on a growth trajectory for over a year now and hit an all-time high on Monday, September 27, after it crossed the ₹2,500-mark. The Mukesh Ambani-led conglomerate’s market capitalisation touched ₹16.9 lakh crore. The company’s shares were trading at ₹2,510 at 9:44 a.m., surpassing the previous high of<a href="https://www.businessinsider.in/stock-market/news/mukesh-ambani-enters-100-billion-club-as-ril-stock-hits-a-record-high/slidelist/85969961.cms"> ₹2,478 on September 6</a>, 2021. RIL's shares closed at ₹2,524.45 on Monday. The stock rose as much as 25% in the last one year. The scrip has been gaining for the fourth consecutive session. <div type="image" title="Reliance Industries’ shares hit record high, trading at over ₹2500 in early morning trade" msid="86548050" hostid="261"></div>Separately, ICICI Direct <a href="https://bsmedia.business-standard.com/_media/bs/data/market-reports/equity-brokertips/2021-09/16322856470.31434600.pdf">issued</a> a hold call on Reliance Industries shares with a target price of ₹2,480 last week on September 22. The company's shares were then trading at ₹2,425. The analysts at ICICI Direct expected Reliance Industries to achieve the price point in a span of one year. Reliance Jio’s positioning in the digital ecosystem, Reliance Retail's aggressive store network expansion, the potential of oil-to-chemical (O2C) business to be segregated into a separate entity and the company’s upcoming investments in new energy initiatives were likely to trigger these future price performance, as per ICICI Direct. “Long term prospects and dominant standing of RIL in each of its product and service portfolio, provides comfort for long term value creation. RIL’s consumer business will be the growth driver, going ahead. The company has a strong balance sheet post fundraising while its traditional business will continue to generate steady cash flows. We initiate coverage on the stock with a HOLD recommendation,” the report reads. Reliance Industries ended the second quarter of 2021 — April to June — with a consolidated income of ₹1,48,591 crore, representing nearly 6% decline from ₹1,58,133 crore reported in the previous quarter. The company’s net profit also fell to ₹12,273 crore from ₹13,227 crore in the previous quarter. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-fall-in-todays-trade-as-invesco-insists-the-board-to-hold-egm-before-sony-deal/articleshow/86546922.cms" data-type="tilCustomLink">Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal</a> <a href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a> <a href="https://www.businessinsider.in/business/auto/news/teslas-full-self-driving-beta-programme-request-button-goes-live/articleshow/86525543.cms">Tesla's 'Full Self Driving' Beta programme request button goes live</a>

Reliance Industries’ shares hit record high, trading at over ₹2500

<ul><li>The retail unit of <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> posted a strong show in second quarter earnings.</li><li><keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> saw its pre-tax profits grow by 66.8% to ₹2,322 crores. </li><li>The share price of Reliance Industries has jumped over 12% in the last one month compared to the 4% rally in Sensex.</li></ul>Reliance Retail announced its Q2 earnings for the current financial year. Despite a larger slowdown in the economy as well as in people’s consumption, Reliance Retail saw its pre-tax profits grow by 66.8% to ₹2,322 crores as opposed to ₹1,392 crores in the same quarter last year. The revenue from Reliance Retail grew to ₹41,202 crores as opposed to ₹32,436 crores in the same quarter last year. During the quarter, Reliance Retail added 337 stores taking the total store count to 10,901 stores. 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 It is present across areas like food and grocery, consumer electronics, fashion and lifestyle. Poised for growth Research firm Bank of America-Merrill Lynch (BofA-ML), in its latest report, predicts that Reliance Retail will be a big driver in taking RIL’s market value to a massive $200 billion in two years. A big chunk of the value created will come from serving the<a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-retail-revenue-estimate-from-kirana-stores/articleshow/71643159.cms"> kirana stores. </a> Reliance Retail, which was launched in 2006, has been growing rapidly over the years and has been aggressively acquiring companies as well. Earlier this year, Reliance Retail had acquired the iconic British toy making company Hamley’s and in July completed the 100% acquisition of the company for a <a href="https://www.businesstoday.in/current/corporate/mukesh-ambani-reliance-brands-completes-100-acquisition-of-hamleys/story/365664.html">reported</a> amount of ₹620 crore. The share price of Reliance Industries had already run up over 12% in the last one month and investors have priced a strong show from the company that was once an energy giant, and is now fast changing into a consumer business with its thrust on Reliance Retail and on telecom via Reliance Jio. 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/top-highlights-from-mukesh-ambani-owned-reliance-industries-rils-quarterly-earnings/articleshow/71651084.cms">Reliance Industries posts a record profit even as refining and telecom verticals soften</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-owned-reliance-industries-forms-pact-with-bp-to-sell-aviation-fuel-in-india/articleshow/71651988.cms">Reliance Industries makes a new pact with BP to sell jet fuel in India</a> <a href="https://www.businessinsider.in/business/news/mukesh-ambani-owned-reliance-retail-revenue-estimate-from-kirana-stores/articleshow/71643159.cms">Mukesh Ambani is set to make big money out of India’s millions of small kirana shops</a>

Reliance Retail surprises with a sharp growth of 27% despite slowdown

New Delhi, Jun 22 () Reliance Industries on Monday became the first Indian firm to hit a market valuation of USD 150 billion helped by a continuous rally in its share price. In morning trade, the company's market valuation jumped Rs 28,248.97 crore to Rs 11,43,667 crore (USD 150 billion) on the BSE. The heavyweight stock surged 2.53 per cent to a record high of Rs 1,804.10 on the BSE. On the NSE, it rose by 2.54 per cent to an all-time high of Rs 1,804.20. Reliance Industries on Friday became the first Indian company to cross the Rs 11 lakh crore market valuation mark. Its market valuation crossed Rs 11 lakh crore in the previous session as its share price rallying over 6 per cent after chairman Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free. Ambani announced that Reliance Industries had become net debt-free after raising a record Rs 1.69 lakh crore from global investors and a rights issue in under two months. Reliance Industries raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms, and another Rs 53,124.20 crore through a rights issue in the past 58 days. Taken together with last year's sale of 49 per cent stake in fuel retailing venture to BP Plc of UK for Rs 7,000 crore, the total fund raised is in excess of Rs 1.75 lakh crore, the company said. Reliance Industries had a net debt of Rs 1,61,035 crore as on March 31, 2020. "With these investments, RIL has become net debt-free," it said. On Thursday, Reliance Industries said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia's Public Investment Fund (PIF) for Rs 11,367 crore. So far this year, the company's stock has gained over 19 per cent. SUM ANS ANS

Reliance Industries becomes first Indian firm to hit USD 150 bn market cap

<div class="KonaFilter image-container display-table"><div><div class="image on-image">Reuters/Amit DaveMukesh Ambani.</div></div></div><ul class="summary-list"><li><a href="https://markets.businessinsider.com/stocks/reliance_industries_1-stock">Reliance Industries</a>' Reliance Jio added 11.79 million subscribers in July, 10 times more than all of its rivals combined.</li><li>Its subscriber base will reach 300 million by the end of March 2019 - if the trend continues, analysts say.</li><li><a href="https://markets.businessinsider.com/stocks/reliance_industries_1-stock">Watch Reliance Industries trade in real time here.</a></li></ul>Exactly two years ago, India's richest man, Mukesh Ambani, planned to revolutionize India's telecom sector with cheap data. His plan seems to be working.After disrupting India's telecom market with <a href="https://www.businessinsider.com/mukesh-amabani-reliance-jio-4g-lte-2016-9">cheap mobile data and calling services,</a> Reliance Jio has been steadily gaining market share. The company offers 50 rupees ($0.70) per gigabyte and monthly plans as low as 149 rupees ($2).Reliance Jio, part of Ambani's <a href="https://markets.businessinsider.com/stocks/reliance_industries_1-stock">Reliance Industries</a>, added 1.79 million subscribers in July, 10 times more than all rivals combined, according to the <a href="https://trai.gov.in/sites/default/files/PRNo98Eng18092018.pdf">latest data </a>released by the Telecom Regulatory Authority of India on Wednesday. Competitors Bharti Airtel and Vodafone Idea Cellular added 0.3 million subscribers and 0.6 million subscribers, respectively. According to a report by Jefferies, Reliance Jio has more than doubled its market share over the past 16 months. As of July, it controlled 19.6% of India's <a href="https://trai.gov.in/sites/default/files/PRNo98Eng18092018.pdf">1.17 billion telephone subscribers</a>, up from 9.3% in March 2017."If the recent trend continues, by the end of March 2019 it would have a subscriber base of 300 million from the current 225 million," Jefferies analyst Somshankar Sinha said. <div class="KonaFilter image-container"><div class="image on-image">Jefferies</div></div><div class="KonaFilter image-container"><div class="image on-image">Jefferies</div></div>And while Jefferies is impressed with its telecom business, it has a price target for Reliance Industries of 880 rupees - a downside of 27.2% from current levels. That's due to Reliance Industries having different businesses across various sectors, including energy, textiles, natural resources, and retail, which will cause capital expenditures to grow.Reliance Industries shares are up 31.45% this year.<div class="KonaFilter image-container display-table"><div><div class="image on-image">Markets Insider</div></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="https://www.businessinsider.com/samsung-foldable-phone-galaxy-x-f-winner-2018-9">Everything we know about Samsung's foldable phone</a></h3> <div> </div> </div>

India's richest man's plan to revolutionize its telecom industry with cheap data seems to be working

<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

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