Anil Dhirubhai Ambani group led by Anil Dhirubhai Ambani has told that it would start bidding aggressively on infrastructure projects claiming that the company is having sufficient finances to achieve the targets.
Reliance Infra CEO Mr. Lalit Jalan said that Reliance infra has successfully completed several projects under Build own and Transfer scheme of the government. The company has completed several projects in Tamil Nadu and various other states.
The company has undertaken projects in the National Capital Region worth thousands of crores and also executing two to four laning of 27.5 km Gurgaon-Faridabad project and upgradation of 2 lanes of 38.6 km Ballabgarh-Sohna Road.
Indian Market News, news
Ambani, Anil dhirubhai ambani, ballabgarh, Faridabad, Gurgaon, Highways, Infrastructure, Reliance, Roads, Sohna
Mumbai, Mar 2 (ANI): The board of directors of Reliance Industries headed by Mukesh Ambani on Monday agreed to merge with its refinery subsidiary, the Reliance Petroleum Ltd. (RPL).
Both the companies, in their respective filings, agreed on one equity share for the RPL shareholders and 16 for the RIL shareholders.
This development has resulted in formation of one of the largest refineries in the world.
The merger, which would take effect from April 1, 2009, would also make the RIL one of the top 50 companies in the world on profitability basis.
The RIL had earlier announced to buy five per cent stake in Chevron Energy after the latter decided to quit the RPL.
Indian Market News, news
BSE, merger ratio, Nifty, NSE, Reliance, RPL, Sensex
Reliance Industreies board will meet on 2 march 2009 to mull RPL merger
Indian Market News, news
Reliance, RPL
Reliance Industries will be ready to sell gas from its Krishna Godavari offshore basin from the January-March quarter next year.Commercial production of gas from the D6 block in the KG basin would start from January-March quarter, said Mr Mukesh Ambani, Chairman, RIL, at a news conference on Sunday called to announce the commencement of oil production from the block.
Mr Ambani said the crude, which started flowing on September 17, is now stabilised at 5,000 barrels a day, and would be scaled up to 5.5 lakh barrels of oil equivalent a day over the next four to six quarters. This would account for 40 per cent of domestic output. Gas would account for 90 per cent of production from the D6 block, and crude the rest.
The gas from the D6 block is currently being injected back. By fiscal 2010, oil and gas would contribute 25 per cent of the RIL’s profits, against 2 per cent currently.
Source: Business line dated: 22-09-08
Indian Market News, Market Gossip, news
ambani brothers, Dhirubhai ambani, diesel, gas, Gasoline, kerosene, petrol, petroleum, Reliance, RIL, RPL
Reliance Power, whose IPO made history on the Indian stock exchanges in January sent ripples through the market when it closed 17 per cent below allotment price on listing on Monday.
This was not unexpected, given the backdrop of the market conditions, where two IPOs recently bombed and had to be withdrawn. Still it also made history being among the few mega issues in recent times to close below issue price on the first day of trading.
The stock oepned on the BSE with a gain of Rs 97 over the issue price of Rs 450. Within minutes it fell to Rs 389 as investors rushed in to sell, to book “listing gains” , for the rest of the day, the stock traded below Rs. 450 closing the day 17 per cent down, at Rs.372.50. On NSE the script opened at Rs 530 and closed at 372.30 its day,s low at Rs 355.
The script also topped the volume charts; on NSE 13.43 crore shares worth Rs5601 crore were traded on BSE 6.38 crore shares worth Rs 2640 crore were traded.
Results
BSE, IPO listing, NSE, r power, Reliance, Reliance Power, Sensex
The telecom infrastructure unit of Reliance Communications, Reliance Infratel Ltd is planning to enter the capital market with an IPO of 8.91 crore shares constituting 10.05 percent of its post issue paid up equity capital of the subsidiary, the face value of the share is decided to be at Rs 5 each.Â
The company had recently raised 1400 crore by selling a 5 percent stake to a number of global financial investors which fetched a valuation of Rs 28,000 crore for Reliance Infratel. The funds raised through the IPO will be used to finance passive infrastructure sites and for other general corporate puroses, The breakup of allotment is as follows
Qualified Institutional investors : 60 per cent
Non Institutional investors : 10 per cent
Retail participants               : 30 per cent
IPO, Indian Market News, Market Gossip
future IPO's, IPO, Reliance, Reliance communications, Reliance Infratel
Reliance Industries Ltd, 01-OCT-2007 to 31-DEC-2007 (Third Quarter) Results:Â
Reliance Industries Ltd has announced the non-consolidated Results for the quarter ended on 31-DEC-2007 as follows: Net Sales of Rs.34590.00 crores for the quarter ending on 31-DEC-2007 with Net Profit of 8079.00 crores with an EPS of 26.70. Other Income was at 241.00 crores and Total expenditure was 29970.00 crores.
Results
earnings, Financial Results, Q3FY08, Quarterly Earnings, Quarterly Results, Reliance, Reliance Inds, Reliance Results, Results
A Three – Judge Bench, comprising the Chief justice, Mr. K.G. Balakrishnan, Mr. Justice R.V. Raveendran and Mr. Justice J.M. Panchal, stayed the hearing of a Public Interest Litigation (PIL) Petition filed by a Rajkot – Based NGO on RPL’s launch of its multi crore IPO due this 15th of Jan.
The Supreme Court has given permission for Reliance to go ahead with its launch of the Rs 10000 crore mega IPO on 15th of January. Mr. Harish Salve who appeared for RPL mentioned that the PIL petition before the Bench was motivated and filed to cause harassment to Reliance Power, he also stated that the IPO cannot be reversed as it would affect the capital and stock markets and foreign institutional investors would stop investing in India.
Reliance Power has sought a direction to transfer all the pending litigations to the Bombay High Court since the registered office of the company was situated in Mumbai.
Indian Market News
Reliance, Reliance Power, Reliance Power IPO, RPL