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Reliance Industries has posted a profit of Rs 3,852 crore for the second quarter ended September 30, a fall of 6.4 per cent from Rs 4,116 crore in the corresponding period last year. For the half-year period, profits were down 8.5 per cent to Rs 7,518 crore (Rs 8,220 crore). Gross refining margin fell to $6.3 a barrel from $14.4. In addition, the depreciation doubled to Rs 2,400 crore during the quarter while the tax outgo rose to Rs 800 crore (Rs 344 crore). Total revenue increased by 6.1 per cent to Rs 48,843 crore (Rs 46,014 crore). However, for the first half, it was down 8.7 per cent to Rs 81,284 crore (Rs 88,998 crore). During the period, exports were down 26 per cent to Rs 43,035 crore. Net capital expenditure for the quarter was Rs 7,831 crore. According to RIL, total gas production from the Krishna-Godavari D6 basin is now 40 million metric standard cubic metres (mmscm) a day. Production has kicked off in 16 of the 18 wells at KG D6 and the total production during the quarter...

Reliance Industries Ltd announced a 1:1 bonus share issue, the first time in 12 years. According to a proposal approved by the RIL board on Wednesday, all shareholders will get one free share for every share held by them. Around 35 lakh shareholders will benefit from this so called ‘Diwali bonus’. The last bonus issue (also 1:1) by RIL was in 1997. The RIL board also proposed an interim dividend of Rs 13 per share for 2008-09. The dividend will entail an outgo of Rs 2,219 crore, including Rs 322 crore in taxes, said a senior company official. The board also approved the audited results of RIL for the year ended March 31, 2009.

Reliance Industries Limited on Thursday posted a 9.4 per cent decline in its fourth quarter net profit at Rs 3,546 crore, while the profit for the entire fiscal ended March 31, 2009, fell by 21.47 per cent to Rs 15,279 crore. The full year net turnover rose 9.6 per cent to Rs 1,46,291 crore, the company said while announcing its unaudited financial results for the period ended March 2009. The company's net turnover in the fourth quarter dropped to Rs 28,362 crore, down 24 per cent from the year-ago period.

Oil and Natural Gas Corp (ONGC), BHP-Billiton-GVK Power combine and Reliance Industries-BP Plc joint venture were among the firms that signed contracts on Monday for exploring for oil and gas in 44 oil and gas areas, committing $1.5 billion in investment. Production Sharing Contracts (PSCs) for the exploration blocks awarded under the seventh bid round of New Exploration Licensing Policy (NELP) were signed at a ceremony here. A total of 57 blocks were offered in the auction but bids were received only for 45, with about $1.49 billion minimum investment committed towards exploration spend. Cairn Energy's bid for a Mumbai basin deepwater block was, however, rejected. ONGC and partners signed PSCs for the maximum number of 20 oil and gas exploration blocks they won in India's largest ever international bid round that closed on June 30. First-timers BHP Billiton and GVK Power inked agreements for seven deepsea blocks. Reliance Industries forged an alliance with British Petroleum Pl...

hares of Reliance Industries Limited (RIL) on Thursday slipped below the Rs 2,000 level on the bourses on heavy selling by foreign funds and retail investors, triggered by weak global cues. RIL opened on a weak note today and then lost further ground and touched an intra-day low of Rs 1,995 on the Bombay Stock Exchange, a dip of Rs 88.55 from its previous closing price. Similar trend was witnessed on the National Stock Exchange as well, where the company fell to an intra-day low of Rs 1,993, a fall of 4.46 per cent over its previous close. “The fall in Reliance Industries is largely due to two reasons the weak global market and crude oil prices,” domestic brokerage firm SMC Global Vice President, Mr Rajesh Jain said. “Firstly, world markets are in a bearish mood, which is affecting the domestic market as well. With the fall in domestic bourses, investors are looking for profit taking option. The recent fall in oil prices, which is hovering around $102 per barrel, als o had a bearing on...

(Business Standard) The restraint on Reliance Industries to sell natural gas from its eastern offshore KG-D6 field to third parties will continue till July 22, after the Bombay High Court today ordered status quo to be maintained in the case filed by Anil Ambani Group firm RNRL. A Bombay High Court division bench fixed July 22 as the next date of hearing in the dispute over implementation of a gas supply agreement between Mukesh Ambani-led Reliance Industries Ltd (RIL) and Reliance Natural Resources Ltd (RNRL). The court had previously asked RIL not to enter into contracts to sell KG-D6 gas with companies other than RNRL and state-run NTPC and asked the two brothers to settle the dispute within four months. But the two sides failed to reach an agreement within the stipulated time frame. At the hearing today, RIL counsel Harish Salve argued that the earlier interim order, restraining RIL from selling gas to third party, had lapsed. He said that RIL would start gas production from KG-D6 ...

(The Hindu Business Line 28th April 2008) Reliance Industries Ltd (RIL) is set to acquire majority stake in an oil block in Peru. The company is understood to have recently inked an agreement with Pan Andean for acquiring stake in Block 141 in Peru. Sources told Business Line that an agreement has been signed between RIL and Pan Andean and now necessary approvals from higher authorities in Peru is awaited. Pan Andean Resources explores and produces oil and gas in South America and the Gulf of Mexico. Farm-in concept Indications are that RIL is likely to acquire 90 per cent stake. Block 141 in the Lake Titicaca area of Peru is a large early stage oil exploration play. RIL has been pursuing contracts for farm-in activities in two oil blocks in Peru. Farm-in concept is a well accepted practice in the international scenario. Under this practice, a company does not acquire the property directly, but rather develops the oil and natural gas properties by taking participating interest in the b...

RIL to produce methane from Sept (Business Standard 20th Feb 2008) CBM to power a 500 mw plant near the blocks in Madhya Pradesh. Reliance Industries (RIL), the country’s largest company in terms of market capitalisation, will begin production of coalbed methane (CBM) from its Sohagpur blocks in Madhya Pradesh by September, well ahead of its mid-2009 schedule. The Mukesh Ambani-promoted company aims to produce around 5 million cubic metres of gas a day (mcmd) from the blocks, most of which will be used for a 500 mw power plant that the company plans to set up in the area. "We are de-watering the production wells to separate gas from water. This process can take two-six months. We will be ready to produce gas from the block by September this year," a senior company executive official said. Typically, an investment of around Rs 4 crore is required per megawatt for setting up a gas-based power plant. Thus, RIL's 500 mw plant would involved an investment of around Rs 2,000 cr...

Reliance plans big for realty; goes headhunting (The Hindu Business Line 6th Feb 2008)Reliance Industries looks all set to enter the realty space in a big way. Mukesh Ambani’s $27-billion corporate house has called for project managers, project architects, project and design engineers for its real estate projects, in an advertisement in a national daily. The Reliance Group said it has a substantially large portfolio of real estate projects to fulfil captive requirements and independent business activity. The projects include high quality space, residential properties, convention centres and auditorium. Recently, the company acquired a 10,183 sq. metre commercial plot at the Bandra Kurla Complex for Rs 918 crore, wherein it would be allowed to construct a 20,366-sq. m multi- storeyed car park and 30,550 sq. m commercial complex. More

Reliance sees hydrocarbon prospects in KG Basin block (The Hindu Business Line 21th Jan 2008)Sensing hydrocarbon prospects in a fresh deepwater block in the Krishna-Godavari (KG) Basin, off the east coast, Reliance Industries Ltd plans to start testing for possible oil and gas presence there. Industry sources said that as the block KG-DWN-2003/1 (KG-V D3) was nearly adjacent to RIL’s prolific D6 block, the company may see good hydrocarbon prospects in it. “The company plans to start testing for hydrocarbon prospects very soon,” sources said. If the company finds hydrocarbons, then this would be its third deepwater block in KG Basin where it has struck success, sources said. Hardy Exploration & Production (India) holds a 10 per cent participating interest while RIL is the operator, with 90 per cent interest in the block. RIL, along with Hardy, won the block in the fifth round of New Exploration Licensing Policy (NELP). The block is in exploration phase one, which provides for the dr...

Wipro's Q3 net profit up 5.7% QoQ (Business Stndard 18th Jan 2008) Wipro’s net profit for the quarter ended December 31, 2007 was Rs 804.10 crore, up 5.7 per cent from Rs 760.30 crore in the previous quarter. Net sales for the period was Rs. 4,357 crore, up 4.98 per cent from Rs 4,150 crore in the July-September quarter. On a consolidated basis, the company’s net profit for the quarter ended December 31, 2007 stood at Rs 854 crore, up 4.91 per cent from Rs 814 crore in the last quarter. More ITC Q3 net profit up 16 pc, beats forecast (Business Stndard 18th Jan 2008) India's top tobacco firm, ITC Ltd, on Friday beat market forecasts with a 16 per cent rise in quarterly net profit, helped by strong growth in its packaged foods and hotels businesses. The Kolkata-based company said net profit rose to Rs 8.31 billion ($211 million) in its fiscal third quarter to end-December from 7.17 billion reported a year earlier, and compared with a poll forecast of 8.14 billion. More Reliance...

Reliance Industries - Q3 net doubled at Rs 8,079 cr Reliance Industries Ltd has recorded a net profit of Rs 8,079 crore for the quarter ended December 31, 2007 as compared to Rs 3,081 crore for the quarter ended December 2006. Total revenues for the quarter has increased to Rs 34,831 crore from Rs 28,315 crore in the year-ago period. Reliance Energy - Q3 net Rs 301.60 cr Reliance Energy Ltd has posted a net profit of Rs 301.60 crore for the third quarter ended December 2007 as compared to Rs 201.03 crore made during the same quarter in 2006. Total income for the quarter has increased to Rs 1,853.41 crore from Rs 1,820.43 crore reported in the year-ago period.

Negative sentiments pull down power stocks (The Hindu Business Line 17th Jan 2008) Power sector stocks are trading lower due to over all negative sentiments in the markets, say analysts. The sector is at its lowest point since the beginning of the year. The BSE Power index was down 3.67 per cent today, with 12 stocks declining and only two stocks advancing. Just a week ago this sector had touched its highest ever figure of 4929.34 and today it is down 7.39 per cent from that figure. The sector closed the day at 4462.33, which is 169.94 points down from Tuesday’s close. Reliance Energy, which was down 4.14 per cent, NTPC (5.55 per cent) and BHEL (4.42 per cent), were among the top losers of the day. The other power sector stocks that took a beating today were: Tata Power (5.63 per cent), GVK Power and Infrastructure Ltd (2.22 per cent) and GMR Infrastructure Ltd (1.36 per cent). More Reliance Ind, Reliance Energy recover on fund buying (The Hindu Business Line 17th Jan 2008)Reliance Ind...

RNRL may cross 244 if crosses Rs 230. Anil Manghnani of Modern Shares & Stock Brokers told CNBCTV18 that in his view RNRL can cross Rs 244 once it crosses Rs 230. According to him Rs 244 is the level, where it has fallen from and shown support at Rs 200. His view is that for RNRL Rs 229-230 is a crucial level and if it can takeout Rs 229-230 level, then it would even cross Rs 244. Regarding Reliance Industries he is of the view that above Rs 3267, Reliance Industries has target of Rs 3350.

Investment Advisor, PN Vijay says to CNBC TV18 that in his opinion Reliance Industries is one of the strongest stock in the market, as there distinct signs of merger and chance of unlocking values. In his opinion invester with long and short term outlook may purchase the stock even at 3,060-3,070 range.

KG basin row: RIL, RNRL back in court (The Economic Times 10th Jan 2008)Reliance Industries and Reliance Natural Resources (RNRL) have moved the Bombay High Court over the simmering gas supply dispute between the two companies. The appeal is against the October 14, 2007, court order, which asked both the parties to amicably settle the dispute by sitting across the table. The case is likely to come up for hearing before the Chief Justice Swatanter Kumar on Thursday. The move comes just days after Reliance ADAG chief Anil Ambani exuded confidence over resolving the dispute with Reliance Industries. “Discussions are on and we are hopeful that a win-win solution would emerge for both the groups,” Anil Ambani had said last week at a press conference to announce Reliance Power’s IPO. More

Govt spikes RIL, HPCL ethanol-making plans (Business Stndard 9th Jan 2008) The government has put a spanner in the plans of oil companies like Reliance Industries Ltd (RIL) and Hindustan Petroleum Corporation Ltd (HPCL) to make ethanol directly from sugarcane, without producing sugar. Pollution control rules require these companies to spike diesel and petrol with five per cent ethanol. The government issued a notification on 28 December 2007 amending the Sugarcane (Control) Order, 1966 that, in effect, allows only sugar mills to produce ethanol from sugarcane. Both RIL and HPCL have bid for closed sugar mills in Bihar and planned to produce ethanol there for their own consumption. While HPCL has emerged as the highest bidder for three mills, RIL is leading the race for one. The move will benefit leading sugar companies like Bajaj Hindusthan, Renuka Sugars, Balrampur Chini and Triveni Engineering that have made huge investments in beefing up their ethanol production capacity. More

Reliance Industry is unlikely to go below Rs 2975 and the stock has a target of Rs 3300, says Rajat Bose, technical analyst, on CNBC-TV18. Stay long and accumulate this stock on dips, he advises. The stock is currently trading at Rs 3050, up 1.1% on the BSE. RNRL has shown tremendous strength when other stocks are getting mauled and the stock has a short-term target of Rs 265-270, says Rajat Bose, technical analyst, on CNBC-TV18. Stay long in this counter, he advises. The stock is currently trading at Rs 244, up 7.15% on the BSE.

RIL has target of Rs 3267: Manghnani (moneycontrol.com 7th Jan 2008) Anil Manghnani of Modern Shares & Stock Brokers is of the view that Reliance Industries has target of Rs 3267. Manghnani told CNBC-TV18, "Reliance Industries definitely is much stronger because it is making new highs and is right around the psychological level of 3,000. I think once it sustains above that then definitely heading higher with the next target being about Rs 3,267." More

Reliance, ONGC in talks for sharing of rigs (The Hindu Business Line 7th Jan 2008)Traditional competitors Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) are now working towards co-optition (where competitors work with each other) by sharing infrastructure and facilitating smooth operations in each other’s exploration and production (E&P) activities. Indications are that RIL may offer rigs to ONGC in two or three locations in 2008-09. These rigs are mainly for undertaking exploration activities. The shortage of rigs for E&P activities has forced the two major players in India to come to the table for sharing rigs. More