RIL narrative shifts to Jio - Angel Broking

“The 40th AGM of Reliance Industries marked a historic landmark, both in terms of its telecom disruption as well as a corporate action. Mr. Mukesh Ambani, also took the opportunity to recount the journey of RIL over the last 40years underscoring that an investment of Rs.10,000 in RIL shares in 1977 would have grown to over Rs.1.50 crore today.  

RIL announced a bonus issue

Hold Reliance Industries Ltd For Target Rs.1,517.00 - Emkay

Core business surprises positively

* Results marginally beat our estimates with EBITDA at Rs115bn up by 2% qoq (our esti. of Rs110bn) due to higher than expected GRM and Petchem volumes. Consequently, PAT came in at Rs81.9bn, marginal growth of 0.6% (our esti. of Rs79bn).

* GRM came in at $11.9/bbl against our estimate of $11.2/bbl. EBIT came

22/07/2017 11:11:19 AM | Posted in Broking Firm Views - Long Term Report read full news
Reliance Industries Ltd. hits 9-year high on robust Quarterly Result

Shares of Reliance Industries surged nearly 4 per cent, hitting over 9-year high, on the Bombay stock Exchange after the country’s largest private sector company reported a 28 per cent growth in its consolidated net profit at Rs 9,108 crore for the first quarter ended June 30, 2017, boosted by robust growth in retail and petrochemicals business.

Consolidated revenue from operati

Buy Reliance Industries Ltd For Target Rs.1,665.00 - Sharekhan

Key points

* Higher-than-expected GRM and petrochemical EBIT margin beat our operating profit estimates:

Reliance Industries Limited (RIL) reported betterthan- expected operating profit of Rs.11,589 crore in Q1FY2018 compared to our estimate of Rs.11,073 crore. This can be accounted to better-than-expected g

21/07/2017 3:33:20 PM | Posted in Broking Firm Views - Long Term Report read full news
India`s edible oil imports to fall for 1st time in six years

MUMBAI - India's edible oil imports are set to fall for the first time in six years as a surge in local oilseed output cuts into overseas purchases, but intake needs to fall further to fortify the health of the market, the head of a leading importer said.

The lower purchases by the world's biggest importer of vegetable oils come amid a 13 percent run-off in in

Oil steady as Brent crude hovers below $50 ahead of OPEC meeting

SINGAPORE - Oil prices were little changed on Friday ahead of a key meeting of major oil producing nations next week, with Brent sitting below the $50 per barrel level that was briefly breached for the first time in six weeks in the previous session.

International benchmark Brent crude futures were at $49.28 per barrel 0501 GMT, down 2 cents from their last close.

21/07/2017 11:41:09 AM | Posted in Commodity Top News read full news
RIL Quarterly Result standalone net up 9% at Rs 8,196 cr on petchem gains

Mukesh Ambani-led Reliance Industries Ltd (RIL) on Thursday posted a healthy 9 per cent rise in its standalone net profit for the first quarter ended June at Rs 8,196 crore on the back of higher margins from its petrochemicals business and a one-time gain.

The company had registered a standalone net profit of Rs 7,548 crore during the April-June quarter a year ago. The standalone figu

RIL to invest $25 mn in innovation incubator in Israel

Mukesh Ambani-led Reliance Industries (RIL) on Thursday announced it will invest $25 million in a technology incubator -- the Jerusalem Innovation Incubator (JII) -- which will reinvest in early stage start-ups working in the areas of artificial intelligence (AI), financial technology and Internet of Things (IoT).

"The Board of Directors has approved to set up and invest in a tec

RIL proposes to buy stake in Balaji Telefilms

Industrialist Mukesh Ambani-led Reliance Industries Ltd (RIL) on Thursday said it plans to acquire 24.92 per cent equity stake in media and entertainment industry firm Balaji Telefilms Limited (BTL) for a consideration of Rs 413.28 crore.

"RIL proposes to acquire 2.52 crore equity shares of BTL, constituting 24.92 per cent of the post-issue paid-up capital of BTL... for cash cons

HPCL sees more scope for foreign buys after ONGC deal

By Nidhi Verma

NEW DELHI - State refiner Hindustan Petroleum Corp Limited (HPCL) sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp (ONGC), its chairman M. K. Surana said.

The Indian cabinet on Wednesday cleared state-run ONGC to acquire the government's 51.1 percent

Oil steady after drop in fuel stocks stokes demand hopes


Oil prices were steady on Thursday, holding gains made the previous session after falling U.S. crude and oil product inventories lifted the market.

Brent crude futures, the international benchmark for oil prices, stood at $49.72 per barrel at 0939 GMT, 2 cents up from their last settlement.

U.S. West Texas Intermediate (WTI) crude

20/07/2017 12:04:01 PM | Posted in Commodity Top News read full news
Cabinet gives nod for Hindustan Petroleum merger with ONGC

The Union Cabinet on Wednesday gave its in-principle approval to the merger of oil marketer Hindustan Petroleum Corp Ltd (HPCL) with state-run explorer Oil and Natural Gas Corp. (ONGC), official sources here said.

The cabinet approved the sale of the government's stake in HPCL to ONGC. Under the arrangement, the exploration giant will not have to make an open offer after buying th

Indian government refiners to buy less Iran oil in 2017/18: oil minister

NEW DELHI - India's state refiners plan to buy less Iranian oil in 2017/18 compared with the last fiscal year, Oil Minister Dharmendra Pradhan said on Wednesday.

Iran has offered a credit period of 60 days for oil purchases in the current fiscal year, Pradhan told lawmakers in a written response. In 2016/17, Iran had offered 90 days credit period.

The mi

Accumulate Gujarat State Petronet Ltd For Target Rs.182.00 - Kotak Sec

Pipeline tariff revision, Softer LNG prices and higher gas volumes are the key triggers

Multiple positive triggers in the offering for GSPL in FY18E and onwards which maintains our positive bias for the stock. In the immediate future softening of LNG prices, recent rupee appreciation, and possibility of ban on use of polluting fuels like furnace oil a

19/07/2017 12:00:45 PM | Posted in Broking Firm Views - Long Term Report read full news
Oil dips on rising U.S. crude inventories, high OPEC supplies

SINGAPORE  - Oil prices fell on Wednesday after a rise in U.S. crude inventories and ongoing high output from OPEC producers revived concerns of a fuel supply overhang.

Brent crude futures, the international benchmark for oil prices, were at $48.81 per barrel at 0259 GMT, down 3 cents from their last close.

U.S. West Texas Intermediate (WTI) crude futur

OPEC agrees on Saudi official as new head of research

By Rania El Gamal and Alex Lawler

DUBAI/LONDON  - OPEC's board of governors chose Saudi Arabia's candidate to be the group's new head of research in an appointment that went smoothly, two OPEC sources said on Tuesday, a sign political tension between Gulf members is not affecting decision-making.

Saudi Arabia's Ayed al-Qahtani was up aga

Governments demand for additional tax premature, Reliance Industries says

NEW DELHI  - The government's demand for additional share in the profits and royalty from the contractors of Panna Mukta and Tapti oil and gas fields is "premature", Reliance Industries said in a statement on Tuesday.

Reliance and Royal Dutch Shell own 30 percent interest each in the fields, off India's west coast, while Oil and Natural Gas Corp

Interview: Oil cuts working, market in balance by end-March - Kuwait minister

KUWAIT - The world oil market is taking longer than expected to rebalance but the glut should go by the end of March and OPEC need not take further action to curb supplies for now, Kuwait's oil minister said.

Essam al-Marzouq also told Reuters there was no need for the Organization of the Petroleum Exporting Countries to hold an extraordinary meeting before its sc

Buy Gail India Ltd For Target Rs.413.00 - Reliance Se

* The stock has bounced back from its 200 day average with positive momentum in the past week, there was mild profit booking in today’s trade which should be used to buy on declines.

* The key technical indicator RSI has also reversed turning upwards confirming the uptrend in the coming days. .

* The stock is has closed above its band of its averages and with the secto

18/07/2017 3:02:31 PM | Posted in Broking Firm Views - Short Term Report read full news
Reliance Industries Ltd slips over 2% on arbitration penalty

Shares of Reliance Industries fell over 2 per cent on the Bombay stock Exchange after the government asked the company along with Shell and ONGC to pay a combined USD 3 billion in penalty following an arbitration award in the Panna Mukta Tapti (PMT) oil field dispute that went in favour of the government, says an ET report.

Reacting to the news, shares of Mukesh Ambani-led company dec

Oil and Gas Sector update Petroleum consumption grows 0.4% in June after growing 3-5% in April and May - Kotak Sec

Slow and unsteady.

Petroleum consumption grew modestly by 0.4% yoy in June despite 6.5-12% growth in diesel and gasoline from a lower base, reflecting decline in off-take of industrial fuels, presumably impacted before the implementation of GST. 1QFY18 growth at 3% was better than 3% decline post-demonetization in 4QFY17; however, it still remains sub

18/07/2017 11:26:29 AM | Posted in Broking Firm Views - Sector Report read full news
Oil "stuck in range" as ample supply meets firm demand

NEW YORK - Oil markets steadied on Tuesday, supported by firm demand but weighed down by high supplies from OPEC and producers in the United States.

Benchmark Brent crude was up 20 cents at $48.62 a barrel by 0920 GMT. U.S. light crude oil was 15 cents higher at $46.17.

"We're stuck in a range that, I think, will be tough to break out of without som

Oil PSUs to set up Rs 2.70 lakh cr refinery in Maharashtra

Union Petroleum Minister Dharmendra Pradhan on Monday said public sector oil companies have decided to set up an integrated refinery-cum-petrochemical complex with a refining capacity of 60 million metric tonnes per annum (mmtpa) at an estimated cost of Rs 2.70 lakh crore at Babulwadi in Maharashtra.

State-run oil companies -- Indian Oil Corporation Limited (IOCL), Bharat Petrole