Tag: Reliance Industries Ltd (RIL)

IOC tops 7 Indian firms on Fortune 500 list, RIL jumps 53 places

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Seven Indian companies have made it to the latest Fortune 500 list of the world’s biggest corporations in terms of revenue, with state-owned IOC continuing to be the highest ranked Indian firm and Reliance Industries (RIL) jumping 53 places.

In the list topped by retail giant Walmart, Indian Oil Corp (IOC) with 23 percent rise in revenues at $65.9 billion was ranked 137th, up from the 168th position in 2017, Fortune said.

Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th. It had a revenue of $62.3 billion in 2017-18.

With $47.5 billion revenue, Oil and Natural Gas Corp (ONGC) made a come back into the list with a ranking of 197th. It did not feature in the 2017 ranking.

State Bank of India (SBI) with $47.5 billion revenue was given 216th rank, a shade higher than 217th last year.

Tata Motors improved its ranking from 247th last year to 232nd. So did state-owned Bharat Petroleum Corp Ltd (BPCL) that moved up to 314th position from 360th last year.

Rajesh Exports was the seventh Indian firm on the list though its ranking slipped to 405th this year from 295th last year.

RIL was the most profitable Indian firm on the list. On the globally most profitable list, it secured the 99th position. The list was topped by Apple.

Two Chinese firms – Sinopec Group and China National Petroleum Corp (CNPC) – figure in the top 10, occupying 3rd and 4th positions, respectively. State Grid was ranked 2nd while Royal Dutch Shell got 5th position.

“The world’s 500 largest companies generated $30 trillion in revenues and $1.9 trillion in profits in 2017. Together, this year’s Fortune Global 500 companies employ 67.7 million people worldwide and are represented by 33 countries,” Fortune said.

(Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance Jio likely to invest Rs 5,000 crore in fiber-to-home services, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Reliance Jio is likely to invest Rs 5,000 crore in its fibre-to-home services in the next two to three years, reported Business Standard.

A team of over 10,000 people is being put in place for the fixed broadband rollout, the newspaper reported citing sources close to the company.

Also read: Reliance launches Jio GigaFiber, Jiophone 2 among other services at AGM

Mukesh Ambani, the company’s chief, announced the launch of the fibre-to-home (FTH) services in its recent annual general meeting.

The scheme offers direct fiber connectivity all the way to the house, unlike traditional fiber networks that offer connectivity to the house via traditional cables leading to slow speeds.

Also read: What is Jio GigaFiber?

The FTH service will provide home automation, home surveillance,  landline, cableTV and internet broadband services.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Market capitalisation of nine of the 10 most valued companies surges by over Rs 1.5 lakh crore

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Combined market capitalisation of nine of the 10 most valued companies surged by a whopping Rs 1,58,882.34 crore last week, helped by an overall strong broader market and smart surge in the valuation of Reliance Industries Ltd (RIL).

Tata Consultancy Services (TCS) continued to rule the market cap chart followed by RIL, HDFC Bank, Hindustan Unilever Ltd (HUL), HDFC, ITC, Infosys, Maruti Suzuki India, Kotak Mahindra Bank and SBI in the week to Friday.

ITC was the sole loser in the top 10 list.

It was a second week of gains in a row for the markets. Over the last week, the Sensex recorded a significant rise of 883.77 points, or 2.48 per cent, to close at 36,541.63.

RIL’s market valuation soared Rs 76,195.2 crore to Rs 6,94,944.56 crore, emerging as the biggest gainer among the top 10 entities.

The m-cap of TCS zoomed by Rs 26,015.17 crore to Rs 7,58,536.46 crore and that of HDFC Bank advanced by Rs 17,356.72 crore to Rs 5,67,888.71 crore.

HUL’s valuation surged Rs 13,464.03 crore to Rs 3,76,895.22 crore and that of HDFC rose sharply by Rs 9,913.49 crore to Rs 3,32,455.64 crore.

The market cap of Kotak Mahindra Bank jumped Rs 6,518.97 crore to Rs 2,67,782.94 crore and that of Infosys climbed Rs 5,372.96 crore to Rs 2,85,924.08 crore.

Maruti added Rs 3,911.94 crore to Rs 2,84,991.39 crore in its valuation and State Bank of India (SBI) Rs 133.86 crore to Rs 2,29,897.37 crore.

In contrast, ITC lost Rs 2,234.52 crore to Rs 3,30,088.43 crore in its m-cap.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

JioGigaFiber to be the next big thing from Jio, says JP Morgan

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Financial firm JP Morgan termed JioGigaFiber, Reliance Industries’ ‘the next big thing from Jio’ after Mukesh Ambani, chairman and managing director, launched the company’s broadband internet service.

The fibre-to-the-home product will roll out in 1,100 cities of India simultaneously.

Most of the AGM focused on JioGigaFiber as the company plans to launch the product later this year, observed JP Morgan.

The trials of the service product are on the run across many cities as of now. The registrations for the same will be available from August 15 on myjio.com and jio.com.

The financial firm expects the product to be ‘a bundled offering, across broadband and set-top box for television.’

Also read: Full text of Mukesh Ambani’s speech at the RIL AGM

Even though there are no details on the pricing yet, “our view is, given Jio’s customer acquisition strategy, that the launch pricing should effectively be at a large discount to current broadband and set-top box pricing prevalent,” JPMorgan said in a report.

Ambani, along with the launch of JioGigaFiber, launched the JioPhone 2 and discussed the company’s developments ranging from oil to media.

On the subscriber base of Jio, Ambani mentioned that the subscriber base currently stands at 215 million, implying that approximately 26 million subscribers have been added in the first quarter of the year.

The subscriber base has picked up sharply since last year, JP Morgan said.

Also read: Key things Mukesh Ambani said at RIL’s AGM

The subscriber addition averaged approximately 5.5 million in March and December 2017.  The tariff cuts and JioPhone has allowed RIL’s telecom subsidiary to gather a larger share of the subscribers, it said

Based on this, JPMorgan said given the Jio handset target and the cut in Jio handset price, the financial firm expects no tariff hikes this year.

On Reliance Retail, Ambani highlighted the importance of merging online and offline businesses. The financial broker said that separate monetisation for the retail unit of Reliance is unlikely.

On the company’s refining business, RIL pointed out the benefits it can receive from the upcoming the International Maritime Organisation (IMO) fuel standards where it is expected that the company will gain from tighter specs for bunker fuel given its refinery complexity.

Also read: What Mukesh Ambani said on Reliance Retail and Reliance Digital

“In our view, RIL is among the biggest beneficiaries of the upcoming IMO standards on low sulfur fuels and likely up-move in diesel cracks and light heavy spreads. Per the chairman, the DTA gasifier project is now up and running and would lower costs as imported gas is replaced,” JPMorgan observed.

Ambani concluded the speech by stating that the company is committed to strengthening its balance sheet.

“In our view, while this statement does not mean that an IPO on RIL’s consumer business is likely anytime soon, investors would focus on the monetisation of investments, particularly in the consumer businesses and would be positive for RIL,” JPMorgan advised investors.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Here’s is what to expect from Reliance Industries Ltd’s AGM today

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The 41st annual general meeting (AGM) of oil-to-retail-to-telecom conglomerate Reliance Industries Ltd (RIL) is scheduled to be held today in Mumbai.

Chairman Mukesh Ambani is expected to make some major announcements when he will speak at the AGM.

The AGM of RIL is a much-anticipated affair for the past two years due to its big announcements related to Jio. The trend is also expected to continue this year.

Last year’s AGM of RIL marked the launch of JioPhone, Reliance Jio’s feature phone, which was made available for a refundable deposit of Rs 1,500. This year also all eyes will be on Ambani when he starts his speech at 11:00 AM.

According to various reports, the RIL will announce the Jio Fiber, the broadband business of telecom subsidiary, Reliance Jio Infocomm. The company will also announce the price plans for its JioFiber broadband service.

It currently offers fibre-to-the-home (FTTH) broadband connections with 1.1TB (terabytes) of free data at a speed of 100 mbps in selected markets across the country.

If RIL reveals its e-commerce plans, it could lead to a re-rating of the stock, said brokerage firm CLSA.

The company is also expected to unveil the fourth quarter performance last fiscal of RIL and Reliance Jio.

RIL also arranged e-voting system to provide its members with a facility to exercise their right to vote on resolutions proposed to be passed at the meeting.

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance AGM: RIL launches JioGigaFiber, registrations to begin on August 15

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Reliance Industries considering IPO of telecoms unit Jio, says report

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

Listen to the Article (6 Minutes)

Reliance Industries Ltd (RIL) is likely go for an initial public offering (IPO) of its telecoms unit Jio in the next two or three years, reported Mint.

Billionaire Mukesh Ambani-led conglomerate plans to list the unit once its consumer business becomes bigger revenue-wise in comparison with its energy business, the report said citing a person with knowledge of the matter.

“Reliance Jio’s plans are massive and when it reaches that stage, the company shouldn’t be a 100% subsidiary of a refinery company…many RIL investors don’t understand data services or digital services and many of those who want to invest in digital services may not want to invest in refineries…at some point, when everything has stabilized, you will have to give investors options to invest where they want to.” the report said quoting a person with knowledge of the matter as saying.

The development comes after Jio shook the country’s telecom industry and waged a price war in the sector.

With Jio having close to 20 crore customers, the listing will lead to further consolidation of the sector, which is already evolving in to an arena with three key players including Jio, Idea and Airtel-Vodafone.

Disclosure: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow