RELIANCE
New to Zerodha? Sign-up for free.
New to Zerodha? Sign-up for free.
-
Share Price
-
Financials
-
Revenue mix
-
Shareholdings
-
Peers
-
Forensics
- 5D
- 1M
- 6M
- YTD
- 1Y
- 5Y
- MAX
This data is currently unavailable for this company.
-
Summary
-
Profit & Loss
-
Balance sheet
-
Cashflow
This data is currently unavailable for this company.
| (In Cr.) |
|---|
| (In Cr.) | ||||
|---|---|---|---|---|
|
This data is currently unavailable for this company. |
| (In %) |
|---|
| (In Cr.) |
|---|
| Financial Year (In Cr.) |
|---|
-
Product wise
-
Location wise
Revenue Mix
This data is currently unavailable for this company.
Revenue Mix
This data is currently unavailable for this company.
Recent events
-
News
-
Corporate Actions
Reliance Industries sells part of stake in Asian Paints
June 16 (Reuters) - Billionare Mukesh Ambani-led Reliance Industries RELI.NS on Monday sold shares worth 18.76 billion rupees ($218.32 million) in Asian Paints through a bulk deal, exchange data showed.
($1 = 85.9290 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +918447554364;))
June 16 (Reuters) - Billionare Mukesh Ambani-led Reliance Industries RELI.NS on Monday sold shares worth 18.76 billion rupees ($218.32 million) in Asian Paints through a bulk deal, exchange data showed.
($1 = 85.9290 Indian rupees)
(Reporting by Manvi Pant in Bengaluru; Editing by Shailesh Kuber)
(([email protected]; +918447554364;))
OpenAI Has Told Investors It Wants To Raise Another $17 Billion In 2027 - The Information
June 11 (Reuters) -
OPENAI'S LEAD INVESTOR SOFTBANK HAS ALSO BEEN BUYING EMPLOYEE SHARES - THE INFORMATION
OPENAI HAS DISCUSSED RAISING MONEY FROM SAUDI ARABIA, INDIAN INVESTORS - THE INFORMATION
OPENAI HAS TALKED TO SAUDI’S PIF AND INDIA’S RELIANCE FOR ITS $40 BILLION FUNDRAISE- THE INFORMATION
OPENAI HAS TOLD INVESTORS IT WANTS TO RAISE ANOTHER $17 BILLION IN 2027 - THE INFORMATION
Source: https://tinyurl.com/2puchdvv
Further company coverage: MSFT.O
(([email protected];))
June 11 (Reuters) -
OPENAI'S LEAD INVESTOR SOFTBANK HAS ALSO BEEN BUYING EMPLOYEE SHARES - THE INFORMATION
OPENAI HAS DISCUSSED RAISING MONEY FROM SAUDI ARABIA, INDIAN INVESTORS - THE INFORMATION
OPENAI HAS TALKED TO SAUDI’S PIF AND INDIA’S RELIANCE FOR ITS $40 BILLION FUNDRAISE- THE INFORMATION
OPENAI HAS TOLD INVESTORS IT WANTS TO RAISE ANOTHER $17 BILLION IN 2027 - THE INFORMATION
Source: https://tinyurl.com/2puchdvv
Further company coverage: MSFT.O
(([email protected];))
US-loaded ethane vessel heads to India after China export curbs
By Arathy Somasekhar
HOUSTON, June 11 (Reuters) - An ethane tanker that loaded in the United States headed to India on Wednesday, ship tracking data showed, after Washington required U.S. exporters to seek licenses to ship the shale gas to top buyer China.
Around half of all U.S. ethane exports head to China, where it is used by the petrochemical industry. The vessel's change in destination underscores how the fallout from trade tensions between the United States and China is shifting ethane flows.
Liberia-flagged STL Qianjiang, which loaded at Energy Transfer's ET.N Nederland terminal for China's Satellite Chemical 002648.SZ, signaled Dahej, a port on the West Coast of India, as its destination, according to LSEG and Kpler ship tracking data.
The final buyer of the cargo is India's Reliance Industries RELI.NS, Kpler data showed, citing the vessel's bill of lading.
The ship has traversed only between the United States and Satellite Chemical's Lianyungang petrochemical facility since July 2022, according to historic data on Kpler.
Energy Transfer, Satellite Chemical and Reliance did not immediately reply to a request for a comment.
Energy Transfer and Enterprise Products Partners EPD.N, two of the top U.S. ethane producers and exporters, said they have received letters from the U.S. Commerce Department requiring the companies to apply for a license to ship ethane to China.
Enterprise said it also received a notice from the U.S. government of its intent to deny emergency requests for three proposed export cargoes of ethane totaling around 2.2 million barrels to China.
Chinese petrochemical firms use ethane as a feedstock because it is a cheaper alternative than naphtha, while U.S. oil and gas producers need China to buy their natural gas liquids as domestic supply exceeds demand.
(Reporting by Arathy Somasekhar in Houston; Editing by Nia Williams)
(([email protected]; +1 832 610 7346; X: @ArathySom;))
By Arathy Somasekhar
HOUSTON, June 11 (Reuters) - An ethane tanker that loaded in the United States headed to India on Wednesday, ship tracking data showed, after Washington required U.S. exporters to seek licenses to ship the shale gas to top buyer China.
Around half of all U.S. ethane exports head to China, where it is used by the petrochemical industry. The vessel's change in destination underscores how the fallout from trade tensions between the United States and China is shifting ethane flows.
Liberia-flagged STL Qianjiang, which loaded at Energy Transfer's ET.N Nederland terminal for China's Satellite Chemical 002648.SZ, signaled Dahej, a port on the West Coast of India, as its destination, according to LSEG and Kpler ship tracking data.
The final buyer of the cargo is India's Reliance Industries RELI.NS, Kpler data showed, citing the vessel's bill of lading.
The ship has traversed only between the United States and Satellite Chemical's Lianyungang petrochemical facility since July 2022, according to historic data on Kpler.
Energy Transfer, Satellite Chemical and Reliance did not immediately reply to a request for a comment.
Energy Transfer and Enterprise Products Partners EPD.N, two of the top U.S. ethane producers and exporters, said they have received letters from the U.S. Commerce Department requiring the companies to apply for a license to ship ethane to China.
Enterprise said it also received a notice from the U.S. government of its intent to deny emergency requests for three proposed export cargoes of ethane totaling around 2.2 million barrels to China.
Chinese petrochemical firms use ethane as a feedstock because it is a cheaper alternative than naphtha, while U.S. oil and gas producers need China to buy their natural gas liquids as domestic supply exceeds demand.
(Reporting by Arathy Somasekhar in Houston; Editing by Nia Williams)
(([email protected]; +1 832 610 7346; X: @ArathySom;))
Reliance Industries Executives to Participate in Jefferies - India Corporate Access Day in London
Reliance Industries Ltd. executives are set to participate in the Jefferies - India Corporate Access Day, scheduled for June 12 and 13, 2025, in London. The company will engage in one-on-one meetings with institutional investors, though no unpublished price-sensitive information will be disclosed during these interactions.
Reliance Industries Ltd. executives are set to participate in the Jefferies - India Corporate Access Day, scheduled for June 12 and 13, 2025, in London. The company will engage in one-on-one meetings with institutional investors, though no unpublished price-sensitive information will be disclosed during these interactions.
EXCLUSIVE-Shein and Reliance aim to sell India-made clothes abroad within a year, sources say
Number of Indian suppliers to rise to 1,000 from 150, sources say
India-made clothes to be sold on Shein US, UK sites, source says
Plan comes as US-China trade war fuels supplier diversification
Updates with new, more detailed statement from Shein
By Dhwani Pandya and Helen Reid
MUMBAI/LONDON, June 9 (Reuters) - Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start international sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter.
The China-founded, Singapore-headquartered Shein has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said.
In a statement to Reuters, Shein said its partnership with Reliance was limited to the licensing of its brand to Reliance Retail for Indian domestic consumption only. Reliance did not respond to queries.
Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which could previously be imported duty free.
The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour.
It returned in February under a licensing deal with the Reliance Industries RELI.NS unit which launched SheinIndia.in selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China.
Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns.
The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said.
Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said.
The scale of supplier expansion and export time frame is being reported for the first time.
Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market alone," Shein said in a statement.
In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally".
ON-DEMAND MANUFACTURING
Shein is a fast-fashion behemoth earning annual revenue of more than $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil.
Its expansion in India mirrors interest in the country from the likes of Walmart WMT.N and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the U.S.-China trade war.
The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth since its launch, data from market intelligence firm Sensor Tower showed.
Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on Shein's U.S. site. In the women's dresses category, its cheapest item was priced at 349 Indian rupees ($4) compared to $3.39 on the U.S. site as of June 9.
Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said.
Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said.
Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible".
The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer MKS.L. The firm also runs e-commerce site Ajio and its retail network competes with Amazon AMZN.O and Walmart's Flipkart as well as value retailers such as Tata's Zudio.
Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said.
(Reporting by Dhwani Pandya in Mumbai and Helen Reid in London; Editing by Aditya Kalra, Christopher Cushing and Kate Mayberry)
(([email protected];))
Number of Indian suppliers to rise to 1,000 from 150, sources say
India-made clothes to be sold on Shein US, UK sites, source says
Plan comes as US-China trade war fuels supplier diversification
Updates with new, more detailed statement from Shein
By Dhwani Pandya and Helen Reid
MUMBAI/LONDON, June 9 (Reuters) - Fashion retailer Shein and partner Reliance Retail plan to rapidly expand their Indian supplier base and start international sales of India-made Shein-branded clothes within six to 12 months, said two people with knowledge of the matter.
The China-founded, Singapore-headquartered Shein has been discussing plans with the Indian retailer since before the U.S. imposed tariffs on Chinese imports that intensified the need to diversify sourcing, the people said. The aim is to raise Indian suppliers to 1,000 from 150 within a year, they said.
In a statement to Reuters, Shein said its partnership with Reliance was limited to the licensing of its brand to Reliance Retail for Indian domestic consumption only. Reliance did not respond to queries.
Shein sells low-priced apparel such as $5 dresses and $10 jeans shipped directly from 7,000 suppliers in China to customers in around 150 countries. Its biggest market is the U.S. where it is adjusting to tariffs on low-value e-commerce packages from China which could previously be imported duty free.
The retailer launched in India in 2018 but its app was banned in 2020 as part of government action against China-linked firms amid border tension with its northeastern neighbour.
It returned in February under a licensing deal with the Reliance Industries RELI.NS unit which launched SheinIndia.in selling Shein-branded clothes produced in local factories. In contrast, Shein's other websites mainly list goods from China.
Reliance, controlled by Asia's richest person, Mukesh Ambani, has contracted 150 garment manufacturers and is in discussion with 400 more, said the two people, declining to be identified due to confidentiality concerns.
The goal is 1,000 Indian factories making Shein-branded clothes within a year for both the Indian market and to service some of Shein's global websites, the people said.
Shein initially wants to list India-made clothes on its U.S. and British websites, one of the people said. Discussions have been ongoing for months and the launch time of six to 12 months could change depending on supplier numbers, the person said.
The scale of supplier expansion and export time frame is being reported for the first time.
Shein has licensed its brand for domestic use to Reliance which "is responsible for manufacturing, supply chain, sales and operations in the Indian market alone," Shein said in a statement.
In December, Minister of Commerce and Industry Piyush Goyal told parliament that the Shein-Reliance partnership aimed to create a network of Indian suppliers of Shein-branded clothes for sale "domestically and globally".
ON-DEMAND MANUFACTURING
Shein is a fast-fashion behemoth earning annual revenue of more than $30 billion through low prices and aggressive marketing. Most of its products are from China with some made in countries such as Turkey and Brazil.
Its expansion in India mirrors interest in the country from the likes of Walmart WMT.N and others throughout the global fashion and retail industries, particularly those looking for suppliers outside China due to the U.S.-China trade war.
The Shein India app has been downloaded 2.7 million times across Apple and Google Play stores, averaging 120% on-month growth since its launch, data from market intelligence firm Sensor Tower showed.
Offerings during its first four months have reached 12,000 designs, a fraction of the 600,000 products on Shein's U.S. site. In the women's dresses category, its cheapest item was priced at 349 Indian rupees ($4) compared to $3.39 on the U.S. site as of June 9.
Shein's Indian partner Reliance, which operates the app, is working with suppliers to assess whether they can replicate Shein's global best-sellers at lower cost, the two people said.
Reliance aims to emulate Shein's on-demand manufacturing model, asking suppliers to make as few as 100 pieces per design before increasing production of those that sell well, they said.
Executives from Reliance recently visited China to understand Shein's "innovative" supply chain operations, "data driven" design processes and "disruptive" digital marketing, Manish Aziz, assistant vice president Shein India at Reliance Retail, said in a LinkedIn post in which he called Shein's scale and speed "truly incredible".
The partnership is one of dozens Reliance has with fashion brands, such as Brooks Brothers and Marks and Spencer MKS.L. The firm also runs e-commerce site Ajio and its retail network competes with Amazon AMZN.O and Walmart's Flipkart as well as value retailers such as Tata's Zudio.
Reliance plans to work with new suppliers to source fabric - especially fabric made using synthetic fibres where India lacks expertise - and import required machinery, the people said. The firm will invest in suppliers and help them grow which in turn will help the Shein-Reliance partnership go global, they said.
(Reporting by Dhwani Pandya in Mumbai and Helen Reid in London; Editing by Aditya Kalra, Christopher Cushing and Kate Mayberry)
(([email protected];))
US ethane vessels stall amid curbs on exports to China
At least 7 ships are anchored or hovering in US Gulf waters
One vessel docks near Houston after heading away from Gulf Coast
No immediate alternative markets for US ethane exports, consultant says
By Arathy Somasekhar, Georgina McCartney and Trixie Yap
HOUSTON/SINGAPORE, June 6 (Reuters) - Over half a dozen U.S.-loaded ethane vessels, originally bound for China, have stalled around the U.S. Gulf Coast after Washington requested U.S. exporters seek licenses to ship the shale gas to the top buyer, according to trade sources and ship tracking data on Friday.
Around half of all U.S. ethane exports head to China, and the halt in flows has pushed ethane prices lower on worries of domestic oversupply and is likely to cut into profits of top ethane producers.
Energy Transfer ET.N and Enterprise Products Partners EPD.N, two of the largest ethane producers and exporters, have warned the disruptions could impact their exports. The U.S. Commerce Department has also denied some vessels emergency authorization requests to export to China.
Liberia-flagged STL Qianjiang, which loaded at Energy Transfer's Nederland terminal for China's Satellite Chemical 002648.SZ, was anchored off the coast on Friday in the Gulf, according to LSEG and Kpler ship tracking data.
Energy Transfer, which produces ethane by extracting it from natural gas and then exports it from terminals along the Gulf Coast, said it received a letter from the U.S. Commerce Department on June 3 requiring the company to apply for a license to ship ethane to China.
The company and Satellite Chemical did not reply to requests for comments on the vessel.
Three other vessels, which were set to load in early June, were anchored in the U.S. Gulf near Houston and Port Arthur, Texas, while three others hovered further south in the water after having slowed down.
Meanwhile, Liberia-flagged very large ethane carrier (VLEC) Pacific Ineos Grenadier, which loaded at Enterprise Products Partners' EPD.N terminal in Morgan's Point, Texas, and had been originally destined for China, was anchored at an Enterprise dock along the Houston Ship Channel on Friday after heading away from the Gulf Coast on Thursday.
The ship had not discharged on Friday afternoon and it was not immediately clear if it would. Enterprise has natural gas liquids storage facilities along the ship channel.
The vessel, a part of British petrochemical firm Ineos' fleet, has been used by the company exclusively for transit between the United States and China since August 2023, according to Kpler data.
Enterprise Products Partners EPD.N received the license requirement letter in late May, and on Wednesday said it received a notice from the U.S. government of its intent to deny emergency requests for three proposed export cargoes of ethane totaling around 2.2 million barrels to China.
Enterprise has 20 days to respond to the denial, it said on Wednesday. Unless otherwise notified by the government by the 45th day after receiving the notification, the denials will become final.
Enterprise and Ineos declined to comment.
"With the curbs on U.S. ethane (exports), these ships are now struggling to move any cargo. So they are either just drifting out at sea or in a neutral direction hoping things resolve themselves with the recent meeting between U.S. and China," an executive at a ship brokering firm said.
'NO IMMEDIATE ALTERNATIVE MARKETS'
U.S. ethane production touched a record 2.8 million barrels per day (bpd) in 2024, according to the Energy Information Administration, and was expected to rise to 3.1 million bpd by next year. Most of the output growth was expected to be exported to meet international demand as domestic consumption will likely hold steady.
Exports also climbed to a record 492,000 bpd last year, of which about 227,000 bpd, or 46%, headed to China.
"These are distressed cargoes at this point. I would expect these to have been sold at significant discounts," said Uday Turaga, founder of energy research and consulting firm ADI Analytics.
"Without China, there are no immediate alternative markets for vast U.S. ethane exports, directly impacting prices and profit for major U.S. producers due to specialized trade contracts," he said.
The letters from the Bureau of Industry and Security, an agency of the U.S. Commerce Department, said exports of ethane pose an unacceptable risk of military end-use in China, according to both companies' filings.
Chinese petrochemical firms use ethane as a feedstock because it is a cheaper alternative than naphtha, while U.S. oil and gas producers need China to buy their natural gas liquids as domestic supply exceeds demand.
(Reporting by Arathy Somasekhar and Georgina McCartney in Houston, Siyi Liu and Trixie Yap in Singapore; Editing by Nick Zieminski)
(([email protected]; +1 832 610 7346; X: @ArathySom;))
At least 7 ships are anchored or hovering in US Gulf waters
One vessel docks near Houston after heading away from Gulf Coast
No immediate alternative markets for US ethane exports, consultant says
By Arathy Somasekhar, Georgina McCartney and Trixie Yap
HOUSTON/SINGAPORE, June 6 (Reuters) - Over half a dozen U.S.-loaded ethane vessels, originally bound for China, have stalled around the U.S. Gulf Coast after Washington requested U.S. exporters seek licenses to ship the shale gas to the top buyer, according to trade sources and ship tracking data on Friday.
Around half of all U.S. ethane exports head to China, and the halt in flows has pushed ethane prices lower on worries of domestic oversupply and is likely to cut into profits of top ethane producers.
Energy Transfer ET.N and Enterprise Products Partners EPD.N, two of the largest ethane producers and exporters, have warned the disruptions could impact their exports. The U.S. Commerce Department has also denied some vessels emergency authorization requests to export to China.
Liberia-flagged STL Qianjiang, which loaded at Energy Transfer's Nederland terminal for China's Satellite Chemical 002648.SZ, was anchored off the coast on Friday in the Gulf, according to LSEG and Kpler ship tracking data.
Energy Transfer, which produces ethane by extracting it from natural gas and then exports it from terminals along the Gulf Coast, said it received a letter from the U.S. Commerce Department on June 3 requiring the company to apply for a license to ship ethane to China.
The company and Satellite Chemical did not reply to requests for comments on the vessel.
Three other vessels, which were set to load in early June, were anchored in the U.S. Gulf near Houston and Port Arthur, Texas, while three others hovered further south in the water after having slowed down.
Meanwhile, Liberia-flagged very large ethane carrier (VLEC) Pacific Ineos Grenadier, which loaded at Enterprise Products Partners' EPD.N terminal in Morgan's Point, Texas, and had been originally destined for China, was anchored at an Enterprise dock along the Houston Ship Channel on Friday after heading away from the Gulf Coast on Thursday.
The ship had not discharged on Friday afternoon and it was not immediately clear if it would. Enterprise has natural gas liquids storage facilities along the ship channel.
The vessel, a part of British petrochemical firm Ineos' fleet, has been used by the company exclusively for transit between the United States and China since August 2023, according to Kpler data.
Enterprise Products Partners EPD.N received the license requirement letter in late May, and on Wednesday said it received a notice from the U.S. government of its intent to deny emergency requests for three proposed export cargoes of ethane totaling around 2.2 million barrels to China.
Enterprise has 20 days to respond to the denial, it said on Wednesday. Unless otherwise notified by the government by the 45th day after receiving the notification, the denials will become final.
Enterprise and Ineos declined to comment.
"With the curbs on U.S. ethane (exports), these ships are now struggling to move any cargo. So they are either just drifting out at sea or in a neutral direction hoping things resolve themselves with the recent meeting between U.S. and China," an executive at a ship brokering firm said.
'NO IMMEDIATE ALTERNATIVE MARKETS'
U.S. ethane production touched a record 2.8 million barrels per day (bpd) in 2024, according to the Energy Information Administration, and was expected to rise to 3.1 million bpd by next year. Most of the output growth was expected to be exported to meet international demand as domestic consumption will likely hold steady.
Exports also climbed to a record 492,000 bpd last year, of which about 227,000 bpd, or 46%, headed to China.
"These are distressed cargoes at this point. I would expect these to have been sold at significant discounts," said Uday Turaga, founder of energy research and consulting firm ADI Analytics.
"Without China, there are no immediate alternative markets for vast U.S. ethane exports, directly impacting prices and profit for major U.S. producers due to specialized trade contracts," he said.
The letters from the Bureau of Industry and Security, an agency of the U.S. Commerce Department, said exports of ethane pose an unacceptable risk of military end-use in China, according to both companies' filings.
Chinese petrochemical firms use ethane as a feedstock because it is a cheaper alternative than naphtha, while U.S. oil and gas producers need China to buy their natural gas liquids as domestic supply exceeds demand.
(Reporting by Arathy Somasekhar and Georgina McCartney in Houston, Siyi Liu and Trixie Yap in Singapore; Editing by Nick Zieminski)
(([email protected]; +1 832 610 7346; X: @ArathySom;))
INDIA STOCKS-India's equity benchmarks rise, led by gains in pharma, Reliance Industries
Updates for morning trade
By Vivek Kumar M and Bharath Rajeswaran
June 5 (Reuters) - India's benchmark indexes climbed in early trade on Thursday, led by gains in pharmaceutical stocks and heavyweight Reliance Industries, while lower U.S. Treasury yields and a weaker dollar lent support.
The Nifty 50 .NSEI and the BSE Sensex .BSESN both climbed 0.5% each to 24,733.8 and 81,379.72 points, respectively, as of 10:25 a.m. IST.
Barring the state-run banks, all major sectors were in the green. The broader, more domestically focussed smallcap .NIFSMCP100 and midcap .NIFMDCP100 stocks rose 0.8% and 0.5%, respectively.
Dr Reddy's Laboratories REDY.NS jumped about 3% on collaboration with biotech company Alvotech ALVO.O to develop cancer drug Keytruda's biosimilar for global markets.
The stock pushed the pharma index .NIPHARM higher by about 1%, making it the biggest sectoral gainer so far on the day.
Separately, Zydus ZYDU.NS gained 2.7% after its cancer drug partnership with Agenus and Glenmark GLEN.NS added 2.3% after its myeloma drug delivered a high response in the phase 1 trial, boosting the sub-index further.
Reliance Industries RELI.NS added 1.3%, marking the second consecutive session of gains for the oil-to-telecom conglomerate.
Brokerage firm JP Morgan said Reliance Industries' earnings for the next two years would be better compared with the last two due to growth expected in retail and telecom businesses.
The market's overall positive momentum was bolstered by its Asian peers, which crept higher while the U.S. dollar and Treasury yields languished. MKTS/GLOB
The drop in yields will turn out to be good for emerging markets like India in the medium term, but the spike in trade and geopolitical uncertainty will keep the market within a range for the near term, said VK Vijayakumar, chief investment strategist at Geojit Investments.
Yields move inversely to prices, and lower yields lead investors to seek higher returns in equities, boosting emerging markets like India.
Investors in India are waiting for the Reserve Bank of India's (RBI) policy decision on Friday, when the domestic central bank is widely expected to cut key lending rates by 25 basis points for the third straight meeting.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Janane Venkatraman)
(([email protected];))
Updates for morning trade
By Vivek Kumar M and Bharath Rajeswaran
June 5 (Reuters) - India's benchmark indexes climbed in early trade on Thursday, led by gains in pharmaceutical stocks and heavyweight Reliance Industries, while lower U.S. Treasury yields and a weaker dollar lent support.
The Nifty 50 .NSEI and the BSE Sensex .BSESN both climbed 0.5% each to 24,733.8 and 81,379.72 points, respectively, as of 10:25 a.m. IST.
Barring the state-run banks, all major sectors were in the green. The broader, more domestically focussed smallcap .NIFSMCP100 and midcap .NIFMDCP100 stocks rose 0.8% and 0.5%, respectively.
Dr Reddy's Laboratories REDY.NS jumped about 3% on collaboration with biotech company Alvotech ALVO.O to develop cancer drug Keytruda's biosimilar for global markets.
The stock pushed the pharma index .NIPHARM higher by about 1%, making it the biggest sectoral gainer so far on the day.
Separately, Zydus ZYDU.NS gained 2.7% after its cancer drug partnership with Agenus and Glenmark GLEN.NS added 2.3% after its myeloma drug delivered a high response in the phase 1 trial, boosting the sub-index further.
Reliance Industries RELI.NS added 1.3%, marking the second consecutive session of gains for the oil-to-telecom conglomerate.
Brokerage firm JP Morgan said Reliance Industries' earnings for the next two years would be better compared with the last two due to growth expected in retail and telecom businesses.
The market's overall positive momentum was bolstered by its Asian peers, which crept higher while the U.S. dollar and Treasury yields languished. MKTS/GLOB
The drop in yields will turn out to be good for emerging markets like India in the medium term, but the spike in trade and geopolitical uncertainty will keep the market within a range for the near term, said VK Vijayakumar, chief investment strategist at Geojit Investments.
Yields move inversely to prices, and lower yields lead investors to seek higher returns in equities, boosting emerging markets like India.
Investors in India are waiting for the Reserve Bank of India's (RBI) policy decision on Friday, when the domestic central bank is widely expected to cut key lending rates by 25 basis points for the third straight meeting.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Sumana Nandy and Janane Venkatraman)
(([email protected];))
Reliance Industries Ltd. to Participate in BofA 2025 India Conference in Mumbai
Reliance Industries Ltd. executives are set to participate in the BofA 2025 India Conference on June 2, 2025, in Mumbai. The meeting with investors will be conducted on a one-on-one basis, and no unpublished price-sensitive information is expected to be shared or discussed.
Reliance Industries Ltd. executives are set to participate in the BofA 2025 India Conference on June 2, 2025, in Mumbai. The meeting with investors will be conducted on a one-on-one basis, and no unpublished price-sensitive information is expected to be shared or discussed.
BP's Castrol unit draws interest from Apollo, India's Reliance, Bloomberg News reports
Adds Lone Star's response in paragraph 4
May 28 (Reuters) - BP's BP.L Castrol lubricants business is attracting interest from companies such as India's Reliance Industries RELI.NS, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The business has also attracted interest from buyout firms Apollo Global Management APO.N and Lone Star Funds, the report said, adding that a deal could fetch between $8 billion and $10 billion.
BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management BAM.TO and Stonepeak Partners, it added.
BP, Apollo Global and Lone Star declined to comment, while Reliance Industries did not immediately respond outside business hours in India.
The bidders would join Saudi Aramco 2222.SE in considering bids for all or part of the business. Reuters reported last week that BP is seeking buyers for its Castrol unit, citing sources.
(Reporting by Unnamalai L in Bengaluru; Editing by Leroy Leo)
Adds Lone Star's response in paragraph 4
May 28 (Reuters) - BP's BP.L Castrol lubricants business is attracting interest from companies such as India's Reliance Industries RELI.NS, Bloomberg News reported on Wednesday, citing people familiar with the matter.
The business has also attracted interest from buyout firms Apollo Global Management APO.N and Lone Star Funds, the report said, adding that a deal could fetch between $8 billion and $10 billion.
BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management BAM.TO and Stonepeak Partners, it added.
BP, Apollo Global and Lone Star declined to comment, while Reliance Industries did not immediately respond outside business hours in India.
The bidders would join Saudi Aramco 2222.SE in considering bids for all or part of the business. Reuters reported last week that BP is seeking buyers for its Castrol unit, citing sources.
(Reporting by Unnamalai L in Bengaluru; Editing by Leroy Leo)
Jio BlackRock gets approval to start mutual fund business in India
MUMBAI, May 27 (Reuters) - Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock BLK.N have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday.
Jio Financial Services JIOF.NS, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India.
The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and institutional investors.
The products will apply BlackRock’s capabilities in data-driven investing including 'Aladdin', the U.S.-based firm's investment and risk management system, Jio BlackRock said.
Sid Swaminathan, who previously headed International Index Equity at BlackRock, has been appointed as the managing director and chief executive at Jio BlackRock.
India currently has 44 asset management companies that manage a total of 69.50 trillion rupees ($813.8 billion).
($1 = 85.4075 Indian rupees)
(Reporting by Jayshree P Upadhyay; Editing by Mrigank Dhaniwala)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
MUMBAI, May 27 (Reuters) - Billionaire Mukesh Ambani-led Reliance Group and U.S.-based BlackRock BLK.N have received approval from India's markets regulator to start operations for their mutual fund business, the Indian company said on Tuesday.
Jio Financial Services JIOF.NS, a part of the Reliance Group, had in July 2023 announced the formation of a 50:50 joint venture with the world's largest asset manager to launch asset management services in India.
The JV, Jio BlackRock Asset Management, plans to launch a range of investment products in the coming months based on a "digital first" approach for retail and institutional investors.
The products will apply BlackRock’s capabilities in data-driven investing including 'Aladdin', the U.S.-based firm's investment and risk management system, Jio BlackRock said.
Sid Swaminathan, who previously headed International Index Equity at BlackRock, has been appointed as the managing director and chief executive at Jio BlackRock.
India currently has 44 asset management companies that manage a total of 69.50 trillion rupees ($813.8 billion).
($1 = 85.4075 Indian rupees)
(Reporting by Jayshree P Upadhyay; Editing by Mrigank Dhaniwala)
(([email protected]; 9920092491; Reuters Messaging: Twitter: @jaysh88))
India New Issue-Jio Credit to issue 3-year bonds, bankers say
MUMBAI, May 26 (Reuters) - India's Jio Credit's plans to raise 15 billion rupees ($176.5 million), which includes a greenshoe option of 5 billion rupees, through sale of bonds maturing in three years, bankers said on Monday.
The company has invited bids from bankers and investors for the issue on Tuesday, they said.
Jio Credit, formerly know known as Jio Finance, is a wholly-owned subsidiary of Indian billionaire Mukesh Ambani's Jio Financial Services.
This would be the second bond issue by the company within a span of two weeks. It raised 10 billion rupees through bonds maturing in 2 years and 10 months at 7.19% coupon earlier this month.
Jio Credit did not immediately reply to a Reuters email for comment.
Here is the list of deals reported so far on May 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Jio Credit | 3 years | To be decided | 10+5 | May 27 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 84.9950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
MUMBAI, May 26 (Reuters) - India's Jio Credit's plans to raise 15 billion rupees ($176.5 million), which includes a greenshoe option of 5 billion rupees, through sale of bonds maturing in three years, bankers said on Monday.
The company has invited bids from bankers and investors for the issue on Tuesday, they said.
Jio Credit, formerly know known as Jio Finance, is a wholly-owned subsidiary of Indian billionaire Mukesh Ambani's Jio Financial Services.
This would be the second bond issue by the company within a span of two weeks. It raised 10 billion rupees through bonds maturing in 2 years and 10 months at 7.19% coupon earlier this month.
Jio Credit did not immediately reply to a Reuters email for comment.
Here is the list of deals reported so far on May 26:
Issuer | Tenure | Coupon (in %) | Issue size (in bln rupees)* | Bidding date | Rating |
Jio Credit | 3 years | To be decided | 10+5 | May 27 | AAA (Crisil, Care) |
*Size includes base plus greenshoe for some issues
($1 = 84.9950 Indian rupees)
(Reporting by Dharamraj Dhutia; Editing by Mrigank Dhaniwala)
Adani Group, Reliance pledge more investments in north-eastern India
Changes media packaging code, recasts first paragraph, adds investment targets for Reliance Industries in paragraphs 4-5
May 23 (Reuters) - Indian conglomerates led by billionaires Gautam Adani and Mukesh Ambani said in separate statements on Friday that they will invest more money to develop their projects in the country's northeast region.
The Adani Group will invest 500 billion rupees ($5.84 billion) over the next decade to develop infrastructure, including roads and highways, as well as green energy projects such as hydro and pumped storage, chairman Gautam Adani said at an industry event in New Delhi.
Earlier this year, he announced his ports-to-power conglomerate will invest 500 billion rupees in the northeastern state of Assam to expand airports, roads and gas distribution.
Reliance Industries, which has invested 300 billion rupees in the region so far, is aiming to increase it to as much as 750 billion rupees in the next five years, chairman Mukesh Ambani said at the same event.
The oil-to-retail group will set up 350 biogas plants in the region and will build factories to produce fast-moving consumer goods, he added.
($1 = 85.6880 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected]; X: @MukherjeeHritam;))
Changes media packaging code, recasts first paragraph, adds investment targets for Reliance Industries in paragraphs 4-5
May 23 (Reuters) - Indian conglomerates led by billionaires Gautam Adani and Mukesh Ambani said in separate statements on Friday that they will invest more money to develop their projects in the country's northeast region.
The Adani Group will invest 500 billion rupees ($5.84 billion) over the next decade to develop infrastructure, including roads and highways, as well as green energy projects such as hydro and pumped storage, chairman Gautam Adani said at an industry event in New Delhi.
Earlier this year, he announced his ports-to-power conglomerate will invest 500 billion rupees in the northeastern state of Assam to expand airports, roads and gas distribution.
Reliance Industries, which has invested 300 billion rupees in the region so far, is aiming to increase it to as much as 750 billion rupees in the next five years, chairman Mukesh Ambani said at the same event.
The oil-to-retail group will set up 350 biogas plants in the region and will build factories to produce fast-moving consumer goods, he added.
($1 = 85.6880 Indian rupees)
(Reporting by Hritam Mukherjee in Bengaluru; Editing by Janane Venkatraman and Nivedita Bhattacharjee)
(([email protected]; X: @MukherjeeHritam;))
Indian billionaire Ambani to meet Trump, Qatar emir in Doha, sources say
By Sarita Chaganti Singh and Aditya Kalra
NEW DELHI, May 14 (Reuters) - Indian billionaire Mukesh Ambani will meet U.S. President Donald Trump and the emir of Qatar in Doha on Wednesday, two sources told Reuters, as his company Reliance Industries RELI.NS looks to foster ties with authorities in both nations.
Qatar's sovereign wealth fund, QIA, has invested in Reliance businesses over the years, and Ambani, who is Asia's richest man, has many business partnerships with the likes of U.S. tech giants such as Google GOOGL.O and Meta META.O.
Ambani will attend a state dinner for Trump at the Lusail Palace in Doha, but did not plan to hold any investment or business discussions, said the first source, who had direct knowledge of the matter.
Another London-based Indian business leader close to the Trump and Qatar administrations will also attend, said both the sources, without identifying the individual.
Further details of Ambani's agenda were not clear. Reliance did not immediately respond to Reuters' queries.
In February, Qatar's Emir Sheikh Tamim bin Hamad Al-Thani visited India, where his country has committed to invest $10 billion across various industries.
Trump will travel to the United Arab Emirates from Qatar on Thursday in a trip that is focused on investment rather than security matters in the Middle East.
(Reporting by Aditya Kalra; Editing by Clarence Fernandez)
((Email: [email protected]; X: @adityakalra;))
By Sarita Chaganti Singh and Aditya Kalra
NEW DELHI, May 14 (Reuters) - Indian billionaire Mukesh Ambani will meet U.S. President Donald Trump and the emir of Qatar in Doha on Wednesday, two sources told Reuters, as his company Reliance Industries RELI.NS looks to foster ties with authorities in both nations.
Qatar's sovereign wealth fund, QIA, has invested in Reliance businesses over the years, and Ambani, who is Asia's richest man, has many business partnerships with the likes of U.S. tech giants such as Google GOOGL.O and Meta META.O.
Ambani will attend a state dinner for Trump at the Lusail Palace in Doha, but did not plan to hold any investment or business discussions, said the first source, who had direct knowledge of the matter.
Another London-based Indian business leader close to the Trump and Qatar administrations will also attend, said both the sources, without identifying the individual.
Further details of Ambani's agenda were not clear. Reliance did not immediately respond to Reuters' queries.
In February, Qatar's Emir Sheikh Tamim bin Hamad Al-Thani visited India, where his country has committed to invest $10 billion across various industries.
Trump will travel to the United Arab Emirates from Qatar on Thursday in a trip that is focused on investment rather than security matters in the Middle East.
(Reporting by Aditya Kalra; Editing by Clarence Fernandez)
((Email: [email protected]; X: @adityakalra;))
India watchdog recommends 5-year satellite spectrum allocation as Starlink nears entry
Adds details on pricing for satellite spectrum in paragraph 3-5, background throughout
May 9 (Reuters) - India's telecom regulator has recommended allotting satellite spectrum for commercial communication services for five years, it said on Friday, at a time when Elon Musk is getting closer to launching his Starlink high-speed internet in the country.
The recommendation also includes a possibility to extend an initial five-year spectrum allocation by a further two years depending on market conditions, the Telecom Regulatory Authority of India (TRAI)said.
The telecom watchdog also recommended charging telecom operators 4% of their adjusted gross revenue for geostationary orbit-based fixed satellite services and for mobile satellite services.
This is subject to a minimum annual spectrum charge of 3,500 rupees ($41) per megahertz (MHz), according to TRAI.
For non-geostationary orbit-based fixed satellite services, an additional 500 rupees per subscriber per annum in urban areas should be charged, exempting rural and remote areas, it said.
The recommendations come as Elon Musk is working towards launching Starlink in India. Musk has urged New Delhi to allot spectrum for 20 years to focus on "affordable pricing and longer-term business plans," according to Starlink's public submissions.
TRAI had agreed to demands for a lower licence time-frame to see how the sector grows, Reuters had reported in March, citing a government source.
Musk and Indian billionaire Mukesh Ambani signed a partnership in March that would allow Starlink devices to be sold in Ambani's Reliance RELI.NS stores, giving it access to a large distributor.
Ambani and Musk had previously been rivals - Ambani's telco subsidiary had unsuccessfully lobbied New Delhi for months to auction spectrum rather than allot it administratively, as Musk wanted.
Bharti Airtel BRTI.NS, India's No. 2 telco, has also pushed for a three-to-five year period for the licence. Bharti Airtel and Musk have also signed a distribution deal for Starlink.
($1 = 85.3610 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru. Editing by Aidan Lewis, Mark Potter and Susan Fenton)
(([email protected]; 8800437922;))
Adds details on pricing for satellite spectrum in paragraph 3-5, background throughout
May 9 (Reuters) - India's telecom regulator has recommended allotting satellite spectrum for commercial communication services for five years, it said on Friday, at a time when Elon Musk is getting closer to launching his Starlink high-speed internet in the country.
The recommendation also includes a possibility to extend an initial five-year spectrum allocation by a further two years depending on market conditions, the Telecom Regulatory Authority of India (TRAI)said.
The telecom watchdog also recommended charging telecom operators 4% of their adjusted gross revenue for geostationary orbit-based fixed satellite services and for mobile satellite services.
This is subject to a minimum annual spectrum charge of 3,500 rupees ($41) per megahertz (MHz), according to TRAI.
For non-geostationary orbit-based fixed satellite services, an additional 500 rupees per subscriber per annum in urban areas should be charged, exempting rural and remote areas, it said.
The recommendations come as Elon Musk is working towards launching Starlink in India. Musk has urged New Delhi to allot spectrum for 20 years to focus on "affordable pricing and longer-term business plans," according to Starlink's public submissions.
TRAI had agreed to demands for a lower licence time-frame to see how the sector grows, Reuters had reported in March, citing a government source.
Musk and Indian billionaire Mukesh Ambani signed a partnership in March that would allow Starlink devices to be sold in Ambani's Reliance RELI.NS stores, giving it access to a large distributor.
Ambani and Musk had previously been rivals - Ambani's telco subsidiary had unsuccessfully lobbied New Delhi for months to auction spectrum rather than allot it administratively, as Musk wanted.
Bharti Airtel BRTI.NS, India's No. 2 telco, has also pushed for a three-to-five year period for the licence. Bharti Airtel and Musk have also signed a distribution deal for Starlink.
($1 = 85.3610 Indian rupees)
(Reporting by Kashish Tandon in Bengaluru. Editing by Aidan Lewis, Mark Potter and Susan Fenton)
(([email protected]; 8800437922;))
India agrees on conditional nod for Starlink operations in country, CNBC-TV18 reports
Updates with background paragraph 2 onwards
May 8 (Reuters) - The Indian government has agreed to a conditional nod for SpaceX's Starlink to start offering satellite-based internet services in the country, television news channel CNBC-TV18 reported on Thursday.
Starlink and the Indian Department of Telecommunications did not immediately respond to Reuters emails asking for comment.
Starlink in March signed agreements with Indian telecom operators Bharti Airtel BRTI.NS, Vodafone Idea VODA.NS and Reliance Industries RELI.NS Jio, in moves that would give the U.S. firm greater access to the world's most populous nation.
Elon Musk and Mukesh Ambani, who chairs the Reliance conglomerate, were at loggerheads over how airwaves should be assigned for satellite internet, with New Delhi finally siding with the allocation approach the U.S. billionaire lobbied for.
Starlink has been waiting since 2022 for licenses to operate commercially in India. New Delhi had long-delayed clearances for reasons including national security concerns.
(Reporting by Mrinmay Dey and Nandan Mandayam in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 7362903319;))
Updates with background paragraph 2 onwards
May 8 (Reuters) - The Indian government has agreed to a conditional nod for SpaceX's Starlink to start offering satellite-based internet services in the country, television news channel CNBC-TV18 reported on Thursday.
Starlink and the Indian Department of Telecommunications did not immediately respond to Reuters emails asking for comment.
Starlink in March signed agreements with Indian telecom operators Bharti Airtel BRTI.NS, Vodafone Idea VODA.NS and Reliance Industries RELI.NS Jio, in moves that would give the U.S. firm greater access to the world's most populous nation.
Elon Musk and Mukesh Ambani, who chairs the Reliance conglomerate, were at loggerheads over how airwaves should be assigned for satellite internet, with New Delhi finally siding with the allocation approach the U.S. billionaire lobbied for.
Starlink has been waiting since 2022 for licenses to operate commercially in India. New Delhi had long-delayed clearances for reasons including national security concerns.
(Reporting by Mrinmay Dey and Nandan Mandayam in Bengaluru; Editing by Nivedita Bhattacharjee)
(([email protected]; +91 7362903319;))
Shell, Reliance, And ONGC Complete Offshore Facilities Decommissioning Project
May 5 (Reuters) - Oil and Natural Gas Corporation Ltd ONGC.NS:
SHELL, RELIANCE, AND ONGC COMPLETE OFFSHORE FACILITIES DECOMMISSIONING PROJECT - STATEMENT
Source text: [ID:]
Further company coverage: ONGC.NS
(([email protected];;))
May 5 (Reuters) - Oil and Natural Gas Corporation Ltd ONGC.NS:
SHELL, RELIANCE, AND ONGC COMPLETE OFFSHORE FACILITIES DECOMMISSIONING PROJECT - STATEMENT
Source text: [ID:]
Further company coverage: ONGC.NS
(([email protected];;))
India's Reliance Industries set for best week in three years on post-results rally
** Shares of Reliance Industries RELI.NS rise 1%, among top gainers on Nifty 50 .NSEI, which is up 0.4%
** Stock has risen 8.04% this week, on course for biggest weekly gains since May 2022
** RELI reported Q4 profit above estimates on April 25; stock has risen for the four sessions since
** Retail growth, likely listing of Jio, improvement in O2C profitability are key triggers for RELI's shares in FY26, multiple brokerages say
** Average rating of 33 analysts is "buy"; median target price is 1,546.5 rupees, 9% above current levels - data compiled by LSEG
** After falling 6% last year, RELI shares have gained 15.6% in 2025 so far
** Nifty rose 8.8% in 2024 and is up 3.1% in 2025 so far
India's Reliance eyes best weekly performance in nearly three years https://reut.rs/42SYaq8
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of Reliance Industries RELI.NS rise 1%, among top gainers on Nifty 50 .NSEI, which is up 0.4%
** Stock has risen 8.04% this week, on course for biggest weekly gains since May 2022
** RELI reported Q4 profit above estimates on April 25; stock has risen for the four sessions since
** Retail growth, likely listing of Jio, improvement in O2C profitability are key triggers for RELI's shares in FY26, multiple brokerages say
** Average rating of 33 analysts is "buy"; median target price is 1,546.5 rupees, 9% above current levels - data compiled by LSEG
** After falling 6% last year, RELI shares have gained 15.6% in 2025 so far
** Nifty rose 8.8% in 2024 and is up 3.1% in 2025 so far
India's Reliance eyes best weekly performance in nearly three years https://reut.rs/42SYaq8
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Venezuela loses 20% of oil exports after cargo cancellations to Chevron
May 1 (Reuters) - Venezuela's oil exports fell almost 20% to some 700,000 barrels per day (bpd) in April, the lowest level in nine months, as cargo cancellations to U.S.-based producer Chevron CVX.N forced ships to return and left some ports empty, ship tracking data and documents showed.
Venezuela's state-run company PDVSA last month suspended most of the loading windows it had assigned to Chevron and ordered the return of some oil cargoes bound for the U.S. amid payment uncertainty related to the enforcement of U.S. sanctions.
The measures cut Chevron short of a May 27 deadline the U.S. Treasury Department had set to wind down oil operations and exports from the OPEC country, which has been under U.S. energy sanctions since 2019.
A total of 32 vessels departed from Venezuelan waters last month, carrying an average of 698,767 bpd of crude and fuel and 357,000 metric tons of oil byproducts and petrochemicals, according to LSEG vessel monitoring data.
The main destination of Venezuela's oil exports was China with some 428,000 bpd, followed by the U.S. with 138,000 bpd and India with 64,200 bpd, the data and documents showed.
Chevron's exports of Venezuelan crude to the U.S. plummeted 69% to some 66,000 bpd due to PDVSA's measures.
However, other customers of the state company, including France's Maurel & Prom MAUP.PA, U.S. Global Oil Terminals and India's Reliance RELI.NS increased their intake of Venezuelan crude and byproducts ahead of the May 27 deadline.
As part of oil swaps with some of those companies, Venezuela's imports of heavy naphtha rose to some 94,000 bpd in April, from 82,000 bpd in March, allowing PDVSA to increase storage of much-needed diluents for its extra heavy crudes.
PDVSA did not reply to a request for comment. Venezuela's Oil Minister Delcy Rodriguez this month traveled to China to discuss oil businesses.
The company between late March and early April halted one of its main crude upgraders, Petropiar, operated along with Chevron, to modify the facility's output, one of its strategies to refine more domestically, according to one of the documents.
Also in April PDVSA inaugurated loading of a new crude grade for export, Blend 22, with the first cargo bound for the U.S.
Venezuela's government has rejected President Donald Trump's hardening of sanctions on the South American country, saying the measures amount to an "economic war."
Venezuelan oil exports lost 20% after cargo cancellations https://tmsnrt.rs/4cWluYx
(Reporting by Reuters staff
Editing by Marguerita Choy)
May 1 (Reuters) - Venezuela's oil exports fell almost 20% to some 700,000 barrels per day (bpd) in April, the lowest level in nine months, as cargo cancellations to U.S.-based producer Chevron CVX.N forced ships to return and left some ports empty, ship tracking data and documents showed.
Venezuela's state-run company PDVSA last month suspended most of the loading windows it had assigned to Chevron and ordered the return of some oil cargoes bound for the U.S. amid payment uncertainty related to the enforcement of U.S. sanctions.
The measures cut Chevron short of a May 27 deadline the U.S. Treasury Department had set to wind down oil operations and exports from the OPEC country, which has been under U.S. energy sanctions since 2019.
A total of 32 vessels departed from Venezuelan waters last month, carrying an average of 698,767 bpd of crude and fuel and 357,000 metric tons of oil byproducts and petrochemicals, according to LSEG vessel monitoring data.
The main destination of Venezuela's oil exports was China with some 428,000 bpd, followed by the U.S. with 138,000 bpd and India with 64,200 bpd, the data and documents showed.
Chevron's exports of Venezuelan crude to the U.S. plummeted 69% to some 66,000 bpd due to PDVSA's measures.
However, other customers of the state company, including France's Maurel & Prom MAUP.PA, U.S. Global Oil Terminals and India's Reliance RELI.NS increased their intake of Venezuelan crude and byproducts ahead of the May 27 deadline.
As part of oil swaps with some of those companies, Venezuela's imports of heavy naphtha rose to some 94,000 bpd in April, from 82,000 bpd in March, allowing PDVSA to increase storage of much-needed diluents for its extra heavy crudes.
PDVSA did not reply to a request for comment. Venezuela's Oil Minister Delcy Rodriguez this month traveled to China to discuss oil businesses.
The company between late March and early April halted one of its main crude upgraders, Petropiar, operated along with Chevron, to modify the facility's output, one of its strategies to refine more domestically, according to one of the documents.
Also in April PDVSA inaugurated loading of a new crude grade for export, Blend 22, with the first cargo bound for the U.S.
Venezuela's government has rejected President Donald Trump's hardening of sanctions on the South American country, saying the measures amount to an "economic war."
Venezuelan oil exports lost 20% after cargo cancellations https://tmsnrt.rs/4cWluYx
(Reporting by Reuters staff
Editing by Marguerita Choy)
Indian benchmarks muted; HDFC Bank, Reliance cushion geopolitical jitters
** Indian benchmark indexes traded flat on Wednesday, with gains in index heavyweights HDFC Bank HDBK.NS and Reliance Industries RELI.NS offsetting broader losses
** HDBK, RELI up about 1% each
** Indian Prime Minister Narendra Modi grants military chiefs freedom to respond to last week's deadly militant attack in Kashmir
** India has identified three attackers, including two Pakistani nationals, as "terrorists" waging a violent revolt in Kashmir; Islamabad has denied any role and says intelligence suggests Indian military action likely soon
** While anxiety may persist in the near term due to tensions with Pakistan, markets tend to stabilise going by history, says ICICI Securities
** Bajaj Finance BJFN.NS falls 5.5% despite higher Q4 profits; brokerages flag weak pre-provision profit and high credit costs as key negatives
** Automaker Tata Motors TAMO.NS drops 3% following multiple block deals executed at a discount
** Broader markets underperform, with small-cap .NIFSMCP100 and mid-cap indexes .NIFMDCP100 down 0.9% and 0.2%, respectively
** Nifty up 3.6% in April so far, set for second straight monthly rise
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Indian benchmark indexes traded flat on Wednesday, with gains in index heavyweights HDFC Bank HDBK.NS and Reliance Industries RELI.NS offsetting broader losses
** HDBK, RELI up about 1% each
** Indian Prime Minister Narendra Modi grants military chiefs freedom to respond to last week's deadly militant attack in Kashmir
** India has identified three attackers, including two Pakistani nationals, as "terrorists" waging a violent revolt in Kashmir; Islamabad has denied any role and says intelligence suggests Indian military action likely soon
** While anxiety may persist in the near term due to tensions with Pakistan, markets tend to stabilise going by history, says ICICI Securities
** Bajaj Finance BJFN.NS falls 5.5% despite higher Q4 profits; brokerages flag weak pre-provision profit and high credit costs as key negatives
** Automaker Tata Motors TAMO.NS drops 3% following multiple block deals executed at a discount
** Broader markets underperform, with small-cap .NIFSMCP100 and mid-cap indexes .NIFMDCP100 down 0.9% and 0.2%, respectively
** Nifty up 3.6% in April so far, set for second straight monthly rise
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
India's Reliance Industries extends gains, eyes best two-day rise in four years
** Reliance Industries RELI.NS climbs 2.6% to 1,405 rupees
** Stock extends gains after fourth-quarter results to 8%, marking its best two-day gains since May 2021
** At least 13 of 32 analysts tracking RELI raised their PT and a dozen upgraded stock post results on Monday, per data compiled by LSEG
** Stock rated "buy" on avg
** RELI up 17.3% in April; set for its best month since January 2024
** YTD, stock gains 16%
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
** Reliance Industries RELI.NS climbs 2.6% to 1,405 rupees
** Stock extends gains after fourth-quarter results to 8%, marking its best two-day gains since May 2021
** At least 13 of 32 analysts tracking RELI raised their PT and a dozen upgraded stock post results on Monday, per data compiled by LSEG
** Stock rated "buy" on avg
** RELI up 17.3% in April; set for its best month since January 2024
** YTD, stock gains 16%
(Reporting by Nandan Mandayam in Bengaluru)
(([email protected]; Mobile: +91 9591011727;))
Reliance leads rise in Indian benchmark indexes
** India's benchmarks NSE Nifty 50 .NSEI and BSE Sensex .BSESN rise ~1% each, led by heavyweight Reliance Industries RELI.NS
** RELI jumps 4.2% as brokerages cheer strength in its telecom and retail businesses after quarterly profit beat
** Eleven of 13 major sectors advance, small- .NIFSMCP100 and mid-caps .NIFMDCP100 gain 0.8% and 1.1%, respectively
** Indian equity markets will continue to recover quite significantly in short-term, says G Chokkalingam, founder and head of research at Equinomics Research
** Return of foreign inflows, normal monsoon forecast and potentially minimal impact on domestic economy due to trade uncertainties also aiding sentiment, analysts say
** SML Isuzu SMLI.NS falls 10%, lower limit of exchange-allowed trading band
** Automaker Mahindra & Mahindra MAHM.NS gains 2% after it struck a deal to buy a majority stake in SMLI at 63% discount to Friday closing price
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** India's benchmarks NSE Nifty 50 .NSEI and BSE Sensex .BSESN rise ~1% each, led by heavyweight Reliance Industries RELI.NS
** RELI jumps 4.2% as brokerages cheer strength in its telecom and retail businesses after quarterly profit beat
** Eleven of 13 major sectors advance, small- .NIFSMCP100 and mid-caps .NIFMDCP100 gain 0.8% and 1.1%, respectively
** Indian equity markets will continue to recover quite significantly in short-term, says G Chokkalingam, founder and head of research at Equinomics Research
** Return of foreign inflows, normal monsoon forecast and potentially minimal impact on domestic economy due to trade uncertainties also aiding sentiment, analysts say
** SML Isuzu SMLI.NS falls 10%, lower limit of exchange-allowed trading band
** Automaker Mahindra & Mahindra MAHM.NS gains 2% after it struck a deal to buy a majority stake in SMLI at 63% discount to Friday closing price
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Reliance Industries Exec- 1 GW Scale Solar PV Module Line Commissioned
April 25 (Reuters) - RELIANCE INDUSTRIES EXEC RELI.NS:
RELIANCE INDUSTRIES EXEC- 1 GW SCALE SOLAR PV MODULE COMMISSIONED
RELIANCE INDUSTRIES EXEC- DONE WITH STREAMLINING OF STORE OPERATIONS IN RETAIL
RELIANCE INDUSTRIES EXEC- INDIAN MARKETS SHOULD SEE STEADY GAS PRICES
RELIANCE INDUSTRIES EXEC- CO HAS CONTRACTS IN PLACE FOR GAS, CAN WEATHER VOLATILITY
(([email protected];))
April 25 (Reuters) - RELIANCE INDUSTRIES EXEC RELI.NS:
RELIANCE INDUSTRIES EXEC- 1 GW SCALE SOLAR PV MODULE COMMISSIONED
RELIANCE INDUSTRIES EXEC- DONE WITH STREAMLINING OF STORE OPERATIONS IN RETAIL
RELIANCE INDUSTRIES EXEC- INDIAN MARKETS SHOULD SEE STEADY GAS PRICES
RELIANCE INDUSTRIES EXEC- CO HAS CONTRACTS IN PLACE FOR GAS, CAN WEATHER VOLATILITY
(([email protected];))
Tankers chartered by Chevron to move Venezuelan crude seek other business
Marketing of the ships indicates Chevron will not load all cargoes this month
One Venezuelan crude cargo still pending return
Vessels chartered by Vitol, Reliance and Maurel & Prom departing on schedule
Adds Venezuelan oil minister's reply in paragraph 9
By Arathy Somasekhar
HOUSTON, April 23 (Reuters) - Some tankers Chevron had chartered to move crude from Venezuela to the U.S. this month are now being marketed for spot contracts elsewhere, sources said, after state company PDVSA canceled loading permits and ordered the firm to return cargoes amid payment uncertainty related to sanctions.
The marketing of the vessels indicates that Chevron does not expect to load all the cargoes it typically ships from Venezuela in a month even if it eventually finds a way to resolve the disagreement with PDVSA.
Tanker Sea Dragon, which had discharged Venezuela's Boscan heavy crude in Philadelphia, was being marketed by Agelef Maritime Services, two sources familiar with the matter said.
Chevron was marketing vessel Andromeda, which earlier this month discharged Venezuelan Hamaca crude at Port Arthur, the sources added.
At least six more tankers Chevron had chartered to carry Venezuelan crude to the U.S. in coming weeks as part of the wind down of its U.S. license through May 27 were stalled in the Caribbean Sea waiting for directions after PDVSA last week ordered two cargoes to be returned and canceled loading permits to others, cutting the deadline short.
As of Wednesday, Chevron-chartered tanker Dubai Attraction, which finished loading some 300,000 barrels of Venezuelan Boscan crude in early April, was still awaiting customs paperwork to return its cargo, according to ship tracking data and sources.
Carina Voyager, managed by a Chevron unit, was near Aruba after returning its 500,000-barrel cargo to PDVSA last week, LSEG shipping data showed.
Sea Jaguar's loading window at Venezuela's Jose terminal, originally scheduled for mid-April, was canceled by PDVSA, according to a document seen by Reuters. The ship was on Wednesday hovering around Aruba, according to tracking data.
Chevron and PDVSA did not reply to requests for comment. Venezuela Oil Minister Delcy Rodriguez said in a social media post that PDVSA "maintains its commitments with Chevron," but Chevron is the "victim" of U.S. sanctions.
Other tankers chartered by trading house Vitol VITOLV.UL were loading and discharging normally at Venezuelan ports, according to the data and documents, while vessels chartered by Reliance Industries RELI.NS for India delivery and Maurel & Prom MAUP.PA for Europe departed on schedule, ahead of the May 27 deadline to wind down cargoes and operations.
(Reporting by Arathy Somasekhar in Houston; Editing by Franklin Paul and David Gregorio)
(([email protected]; +1 832 610 7346; Twitter: @ArathySom;))
Marketing of the ships indicates Chevron will not load all cargoes this month
One Venezuelan crude cargo still pending return
Vessels chartered by Vitol, Reliance and Maurel & Prom departing on schedule
Adds Venezuelan oil minister's reply in paragraph 9
By Arathy Somasekhar
HOUSTON, April 23 (Reuters) - Some tankers Chevron had chartered to move crude from Venezuela to the U.S. this month are now being marketed for spot contracts elsewhere, sources said, after state company PDVSA canceled loading permits and ordered the firm to return cargoes amid payment uncertainty related to sanctions.
The marketing of the vessels indicates that Chevron does not expect to load all the cargoes it typically ships from Venezuela in a month even if it eventually finds a way to resolve the disagreement with PDVSA.
Tanker Sea Dragon, which had discharged Venezuela's Boscan heavy crude in Philadelphia, was being marketed by Agelef Maritime Services, two sources familiar with the matter said.
Chevron was marketing vessel Andromeda, which earlier this month discharged Venezuelan Hamaca crude at Port Arthur, the sources added.
At least six more tankers Chevron had chartered to carry Venezuelan crude to the U.S. in coming weeks as part of the wind down of its U.S. license through May 27 were stalled in the Caribbean Sea waiting for directions after PDVSA last week ordered two cargoes to be returned and canceled loading permits to others, cutting the deadline short.
As of Wednesday, Chevron-chartered tanker Dubai Attraction, which finished loading some 300,000 barrels of Venezuelan Boscan crude in early April, was still awaiting customs paperwork to return its cargo, according to ship tracking data and sources.
Carina Voyager, managed by a Chevron unit, was near Aruba after returning its 500,000-barrel cargo to PDVSA last week, LSEG shipping data showed.
Sea Jaguar's loading window at Venezuela's Jose terminal, originally scheduled for mid-April, was canceled by PDVSA, according to a document seen by Reuters. The ship was on Wednesday hovering around Aruba, according to tracking data.
Chevron and PDVSA did not reply to requests for comment. Venezuela Oil Minister Delcy Rodriguez said in a social media post that PDVSA "maintains its commitments with Chevron," but Chevron is the "victim" of U.S. sanctions.
Other tankers chartered by trading house Vitol VITOLV.UL were loading and discharging normally at Venezuelan ports, according to the data and documents, while vessels chartered by Reliance Industries RELI.NS for India delivery and Maurel & Prom MAUP.PA for Europe departed on schedule, ahead of the May 27 deadline to wind down cargoes and operations.
(Reporting by Arathy Somasekhar in Houston; Editing by Franklin Paul and David Gregorio)
(([email protected]; +1 832 610 7346; Twitter: @ArathySom;))
Ericsson expands manufacturing in India to make antennas
Adds detail on location in paragraph 5-6
STOCKHOLM, April 22 (Reuters) - Sweden's Ericsson ERICb.ST is planning to manufacture all its telecom antennas for the Indian market in the South Asian country, the company said on Tuesday.
Demand from India's telecom companies surged in 2023, as Bharti Airtel and Jio, the telecom unit of Reliance Industries, started to scale up 5G services, and cushioned a slowdown of orders from the United States, Ericsson's top market.
Ericsson, which started manufacturing in India in 1994, will localise all its passive antenna production for the Indian market by June, it said in a statement. It also has manufacturing facilities in Mexico, Romania and China.
The company expects to export a significant portion of the antennas manufactured in India after meeting domestic needs, it said.
Antenna manufacturing will take place in Gurgaon together with Ericsson's local partner VVDN Technologies, a spokesperson said.
Meanwhile, Ericsson's logistics hub in Pune will support distribution and supply chain operations across the region, he added.
(Reporting by Supantha Mukherjee in Stockholm, editing by Louise Rasmussen and Louise Heavens)
(([email protected]; +46 70 721 1004; Reuters Messaging: [email protected]))
Adds detail on location in paragraph 5-6
STOCKHOLM, April 22 (Reuters) - Sweden's Ericsson ERICb.ST is planning to manufacture all its telecom antennas for the Indian market in the South Asian country, the company said on Tuesday.
Demand from India's telecom companies surged in 2023, as Bharti Airtel and Jio, the telecom unit of Reliance Industries, started to scale up 5G services, and cushioned a slowdown of orders from the United States, Ericsson's top market.
Ericsson, which started manufacturing in India in 1994, will localise all its passive antenna production for the Indian market by June, it said in a statement. It also has manufacturing facilities in Mexico, Romania and China.
The company expects to export a significant portion of the antennas manufactured in India after meeting domestic needs, it said.
Antenna manufacturing will take place in Gurgaon together with Ericsson's local partner VVDN Technologies, a spokesperson said.
Meanwhile, Ericsson's logistics hub in Pune will support distribution and supply chain operations across the region, he added.
(Reporting by Supantha Mukherjee in Stockholm, editing by Louise Rasmussen and Louise Heavens)
(([email protected]; +46 70 721 1004; Reuters Messaging: [email protected]))
EXCLUSIVE-India plans to ease nuclear liability laws to attract foreign firms, sources say
India plans to ease nuclear liability laws to attract foreign firms, sources say
Proposes amendments to allay suppliers' fears of unlimited liability, they say
Aims to attract U.S. nuclear firms to boost nuclear power capacity to 100 GW by 2047
By Sarita Chaganti Singh
NEW DELHI, April 18 (Reuters) - India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.
The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.
India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.
"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.
"A liability cap will allay the major concern of the suppliers of nuclear reactors."
The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.
New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co GE.N and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.
Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.
Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.
Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.
Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.
LAW GREW OUT OF BHOPAL DISASTER
India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.
Union Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.
The current liability law effectively shut out Western companies from a huge market, and also strained U.S.-Indian relations since they reached a deal on nuclear cooperation in 2008.
It also left U.S. firms at a disadvantage to Russian and French companies whose accident liability is underwritten by their governments.
The draft law also proposes a lower liability cap on small reactor operators at $58 million, but is unlikely to alter the cap for large reactor operators from the current level of $175 million, the three sources said.
India is betting big on nuclear power to meet its rising energy demand without compromising on net-zero commitments, for which it proposes to allow private Indian companies to build such plants.
Indian conglomerates like Reliance Industries RELI.NS, Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta Ltd VDAN.NS have held discussions with the government to invest around $5.14 billion each in the sector.
($1 = 85.6320 Indian rupees)
(Reporting by Sarita Chaganti Singh, Editing by Raju Gopalakrishnan.)
(([email protected];))
India plans to ease nuclear liability laws to attract foreign firms, sources say
Proposes amendments to allay suppliers' fears of unlimited liability, they say
Aims to attract U.S. nuclear firms to boost nuclear power capacity to 100 GW by 2047
By Sarita Chaganti Singh
NEW DELHI, April 18 (Reuters) - India is planning to ease its nuclear liability laws to cap accident-related penalties on equipment suppliers, three government sources said, in a move mainly to attract U.S. firms that have been holding back due to the risk of unlimited exposure.
The proposal by Prime Minister Narendra Modi's government is the latest step to expand nuclear power production capacity by 12 times to 100 gigawatts by 2047 as well as provide a fillip to India in trade and tariff negotiations with the U.S.
A draft law prepared by the department of atomic energy removes a key clause in the Civil Nuclear Liability Damage Act of 2010 that exposes suppliers to unlimited liability for accidents, the three sources said.
India's atomic energy department, the prime minister's office and the finance ministry did not respond to requests seeking comment.
"India needs nuclear power, which is clean and essential," said Debasish Mishra, chief growth officer at Deloitte South Asia.
"A liability cap will allay the major concern of the suppliers of nuclear reactors."
The amendments are in line with international norms that put the onus on the operator to maintain safety instead of the supplier of nuclear reactors.
New Delhi is hoping the changes will ease concerns of mainly U.S. firms like General Electric Co GE.N and Westinghouse Electric Co that have been sitting on the sidelines for years due to unlimited risks in case of accidents.
Analysts say passage of the amended law is crucial to negotiations between India and the U.S. for a trade deal this year that aims to raise bilateral trade to $500 billion by 2030 from $191 billion last year.
Modi's administration is confident of getting approval for the amendments in the monsoon session of parliament, set to begin in July, according to the sources.
Under the proposed amendments, the right of the operator to compensation from the supplier in case of an accident will be capped at the value of the contract. It will also be subject to a period to be specified in the contract.
Currently, the law does not define a limit to the amount of compensation an operator can seek from suppliers and the period for which the vendor can be held accountable.
LAW GREW OUT OF BHOPAL DISASTER
India's 2010 nuclear liability law grew out of the 1984 Bhopal gas disaster, the world's deadliest industrial accident, at a factory owned by U.S. multinational Union Carbide Corp in which more than 5,000 people were killed.
Union Carbide agreed to pay an out-of-court settlement of $470 million in damages in 1989.
The current liability law effectively shut out Western companies from a huge market, and also strained U.S.-Indian relations since they reached a deal on nuclear cooperation in 2008.
It also left U.S. firms at a disadvantage to Russian and French companies whose accident liability is underwritten by their governments.
The draft law also proposes a lower liability cap on small reactor operators at $58 million, but is unlikely to alter the cap for large reactor operators from the current level of $175 million, the three sources said.
India is betting big on nuclear power to meet its rising energy demand without compromising on net-zero commitments, for which it proposes to allow private Indian companies to build such plants.
Indian conglomerates like Reliance Industries RELI.NS, Tata Power TTPW.NS, Adani Power ADAN.NS and Vedanta Ltd VDAN.NS have held discussions with the government to invest around $5.14 billion each in the sector.
($1 = 85.6320 Indian rupees)
(Reporting by Sarita Chaganti Singh, Editing by Raju Gopalakrishnan.)
(([email protected];))
Reliance Industries Says Reliance Global Project Services Pte Ltd To Be Dissolved
April 17 (Reuters) - Reliance Industries Ltd RELI.NS:
DISSOLUTION OF RELIANCE GLOBAL PROJECT SERVICES PTE. LTD.
Source text: ID:nBSEmtSKX
Further company coverage: RELI.NS
(([email protected];;))
April 17 (Reuters) - Reliance Industries Ltd RELI.NS:
DISSOLUTION OF RELIANCE GLOBAL PROJECT SERVICES PTE. LTD.
Source text: ID:nBSEmtSKX
Further company coverage: RELI.NS
(([email protected];;))
India launches auction of three coal bed methane blocks
April 15 (Reuters) - India has launched an auction of three coal bed methane blocks and 55 small discovered fields for exploration and production, said Pallavi Jain Govil, head of upstream regulator Directorate General of Hydrocarbons, on Tuesday at an event in Delhi.
Two of the coal bed methane blocks are in the state of West Bengal and one in the western state of Gujarat.
India also signed contacts for oil and gas blocks, offered under a licensing round earlier this year, Govil said, as the world's third largest oil consumer seeks to boost its local output.
The country imports over 80% of its over 5 million barrels per day of oil needs.
India's top explorer Oil and Natural Gas Corp ONGC.NS signed contracts for exploration of 11 blocks, while Oil India OILI.NS signed for six blocks.
ONGC also signed an exploration contract for one block in tie up with BP BP.L and Reliance Industries RELI.NS, and teamed up with Oil India for three blocks.
Vedanta VDAN.NS signed contracts for seven blocks and Hindustan Oil Exploration Company HOEX.NS for one block.
(Reporting by Nidhi Verma in New Delhi; Editing by Shinjini Ganguli)
(([email protected]; +91 7982114624;))
April 15 (Reuters) - India has launched an auction of three coal bed methane blocks and 55 small discovered fields for exploration and production, said Pallavi Jain Govil, head of upstream regulator Directorate General of Hydrocarbons, on Tuesday at an event in Delhi.
Two of the coal bed methane blocks are in the state of West Bengal and one in the western state of Gujarat.
India also signed contacts for oil and gas blocks, offered under a licensing round earlier this year, Govil said, as the world's third largest oil consumer seeks to boost its local output.
The country imports over 80% of its over 5 million barrels per day of oil needs.
India's top explorer Oil and Natural Gas Corp ONGC.NS signed contracts for exploration of 11 blocks, while Oil India OILI.NS signed for six blocks.
ONGC also signed an exploration contract for one block in tie up with BP BP.L and Reliance Industries RELI.NS, and teamed up with Oil India for three blocks.
Vedanta VDAN.NS signed contracts for seven blocks and Hindustan Oil Exploration Company HOEX.NS for one block.
(Reporting by Nidhi Verma in New Delhi; Editing by Shinjini Ganguli)
(([email protected]; +91 7982114624;))
Reliance Industries Says Nauyaan Tradings Completed Acquisition Of Further 10% Equity Stake In Nauyaan Shipyard
April 11 (Reuters) - Reliance Industries Ltd RELI.NS:
NAUYAAN TRADINGS COMPLETED ACQUISITION OF FURTHER 10% EQUITY STAKE IN NAUYAAN SHIPYARD
Source text: ID:nBSEbwtmyl
Further company coverage: RELI.NS
(([email protected];;))
April 11 (Reuters) - Reliance Industries Ltd RELI.NS:
NAUYAAN TRADINGS COMPLETED ACQUISITION OF FURTHER 10% EQUITY STAKE IN NAUYAAN SHIPYARD
Source text: ID:nBSEbwtmyl
Further company coverage: RELI.NS
(([email protected];;))
Venezuela's oil flows again, after a week of panic
Tankers return to ports to finish loading a week after pause, delays
Crude cargoes set sail, destinations include India and China
Cuba has benefited, to receive more cargoes this month
April 9 (Reuters) - Many buyers of Venezuelan oil have resumed loading crude onto tankers after a week-long hiatus at the country's ports after the U.S. applied tariffs that President Donald Trump imposed on importers of the OPEC nation's oil, according to shipping data and documents.
In March, the U.S. Treasury Department gave U.S. oil producer Chevron CVX.N and other foreign partners and customers of PDVSA until May 27 to wind-down operations and cease oil exports from Venezuela. Days later, Washington imposed tariffs on buyers of Venezuela's oil and gas.
The measures prompted the suspension of some tanker loadings at the country's main oil port of Jose and created delays at smaller terminals. Trump's hardening stance discouraged traders and importers from continuing to ship Venezuelan oil.
Following the U.S. measures on oil buyers, many vessels undocked at Jose and moved offshore. Now, many of these have returned to complete their loading. They have begun departing from Venezuelan waters bound for destinations including India and China, according to the data and internal documents from Venezuelan state oil firm PDVSA.
"There was a panic moment when the vessels undocked, but they later received instructions to complete their cargoes," a PDVSA source said.
As of Wednesday, crude cargoes allocated to Chevron for U.S. delivery, Reliance Industries RELI.NS for India delivery and several intermediaries for China delivery were setting sail in a signal that Venezuela's oil exports will not collapse in the short term.
PDVSA, Chevron and Reliance did not immediately reply to requests for comment. The government of President Nicolas Maduro has blasted U.S. sanctions on Venezuela as an "economic war."
On its side, PDVSA is reorganizing output and crude upgrading to refine more oil domestically in the second half of the year. This could blunt the impact of lower crude exports.
In China, the main importers of Venezuela's heavy crude grades are independent refiners known as teapots that buy through intermediaries. As the tariffs loomed last month, some refiners delayed or suspended imports from the South American country, opting for Brazilian and West African crudes instead.
Chinese traders and refiners told Reuters last month they would wait to see how the tariff order was implemented and whether Beijing would direct them to stop buying.
Some independent refiners temporarily paused purchases from Venezuela as they sought information on whether supply would remain available and at what price.
China is Venezuela's largest oil buyer, directly and indirectly taking in some 480,000 barrels per day (bpd) of crude and fuel this year. The U.S. is the No. 2 destination with 250,000 bpd, India is third with 63,000 bpd and Europe fourth with 44,000 bpd.
In the long run, analysts forecast oil output will decline between 150,000 and 350,000 bpd by year end if the wind-down period granted to buyers is not extended or secondary tariffs lifted. Venezuela produced 921,000 bpd of crude last year, according to figures reported to OPEC.
Some joint venture partners of PDVSA, including Europeans Eni ENI.MI and Repsol REP.MC, have said they are in talks with Washington seeking exemptions to the U.S. sanctions on the country that would allow them to keep producing oil and gas in Venezuela even if barrels are not exported.
The loading hiccups are temporarily benefiting Venezuela's political ally Cuba, with more crude cargos planned for that destination this month, the documents showed.
(Editing by Simon Webb and David Gregorio)
Tankers return to ports to finish loading a week after pause, delays
Crude cargoes set sail, destinations include India and China
Cuba has benefited, to receive more cargoes this month
April 9 (Reuters) - Many buyers of Venezuelan oil have resumed loading crude onto tankers after a week-long hiatus at the country's ports after the U.S. applied tariffs that President Donald Trump imposed on importers of the OPEC nation's oil, according to shipping data and documents.
In March, the U.S. Treasury Department gave U.S. oil producer Chevron CVX.N and other foreign partners and customers of PDVSA until May 27 to wind-down operations and cease oil exports from Venezuela. Days later, Washington imposed tariffs on buyers of Venezuela's oil and gas.
The measures prompted the suspension of some tanker loadings at the country's main oil port of Jose and created delays at smaller terminals. Trump's hardening stance discouraged traders and importers from continuing to ship Venezuelan oil.
Following the U.S. measures on oil buyers, many vessels undocked at Jose and moved offshore. Now, many of these have returned to complete their loading. They have begun departing from Venezuelan waters bound for destinations including India and China, according to the data and internal documents from Venezuelan state oil firm PDVSA.
"There was a panic moment when the vessels undocked, but they later received instructions to complete their cargoes," a PDVSA source said.
As of Wednesday, crude cargoes allocated to Chevron for U.S. delivery, Reliance Industries RELI.NS for India delivery and several intermediaries for China delivery were setting sail in a signal that Venezuela's oil exports will not collapse in the short term.
PDVSA, Chevron and Reliance did not immediately reply to requests for comment. The government of President Nicolas Maduro has blasted U.S. sanctions on Venezuela as an "economic war."
On its side, PDVSA is reorganizing output and crude upgrading to refine more oil domestically in the second half of the year. This could blunt the impact of lower crude exports.
In China, the main importers of Venezuela's heavy crude grades are independent refiners known as teapots that buy through intermediaries. As the tariffs loomed last month, some refiners delayed or suspended imports from the South American country, opting for Brazilian and West African crudes instead.
Chinese traders and refiners told Reuters last month they would wait to see how the tariff order was implemented and whether Beijing would direct them to stop buying.
Some independent refiners temporarily paused purchases from Venezuela as they sought information on whether supply would remain available and at what price.
China is Venezuela's largest oil buyer, directly and indirectly taking in some 480,000 barrels per day (bpd) of crude and fuel this year. The U.S. is the No. 2 destination with 250,000 bpd, India is third with 63,000 bpd and Europe fourth with 44,000 bpd.
In the long run, analysts forecast oil output will decline between 150,000 and 350,000 bpd by year end if the wind-down period granted to buyers is not extended or secondary tariffs lifted. Venezuela produced 921,000 bpd of crude last year, according to figures reported to OPEC.
Some joint venture partners of PDVSA, including Europeans Eni ENI.MI and Repsol REP.MC, have said they are in talks with Washington seeking exemptions to the U.S. sanctions on the country that would allow them to keep producing oil and gas in Venezuela even if barrels are not exported.
The loading hiccups are temporarily benefiting Venezuela's political ally Cuba, with more crude cargos planned for that destination this month, the documents showed.
(Editing by Simon Webb and David Gregorio)
India's Reliance tanks to 22-month low, enters 'oversold' zone
** Shares of oil-to-telecom conglomerate Reliance Industries RELI.NS lose as much as 7.5% to 1,114.85 rupees, their lowest levels since October 6, 2023
** RELI with a weightage of 8.1% drags benchmark Nifty 50 .NSEI 4% lower
** "Weaker global fuel demand due to tariff uncertainty could hurt refining margins of RELI," says Morgan Stanley
** The drop in the session drags RELI to "oversold" territory, with the relative strength index (RSI) slipping to 28.6
** The session's losses also push RELI to losses for 2025 so far; RELI stock down about 1% in 2025, compared with NSEI's 7.6% drop
** This is the sharpest single-day drop for RELI since June 4, 2024, when markets fell after the ruling National Democratic Alliance returned to power with a smaller majority
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
** Shares of oil-to-telecom conglomerate Reliance Industries RELI.NS lose as much as 7.5% to 1,114.85 rupees, their lowest levels since October 6, 2023
** RELI with a weightage of 8.1% drags benchmark Nifty 50 .NSEI 4% lower
** "Weaker global fuel demand due to tariff uncertainty could hurt refining margins of RELI," says Morgan Stanley
** The drop in the session drags RELI to "oversold" territory, with the relative strength index (RSI) slipping to 28.6
** The session's losses also push RELI to losses for 2025 so far; RELI stock down about 1% in 2025, compared with NSEI's 7.6% drop
** This is the sharpest single-day drop for RELI since June 4, 2024, when markets fell after the ruling National Democratic Alliance returned to power with a smaller majority
(Reporting by Bharath Rajeswaran in Bengaluru)
(([email protected]; +91 9769003463;))
Events:
Bonus
Dividend
Dividend
Dividend
Dividend
Dividend
Rights
Dividend
Dividend
Bonus
Dividend
Dividend
Dividend
Dividend
More Large Cap Ideas
See similar 'Large' cap companies with recent activity
Promoter Buying
Companies where the promoters are bullish
Capex
Companies investing on expansion
Superstar Investor
Companies where well known investors have invested
Popular questions
-
Business
-
Financials
-
Share Price
-
Shareholdings
What does Reliance Industries do?
Reliance Industries Limited is a leading player in India's private sector, engaged in hydrocarbon exploration, refining, petrochemicals, renewable energy, retail, and digital services with a diverse product portfolio ranging from oil and gas to textiles.
Who are the competitors of Reliance Industries?
Reliance Industries major competitors are Indian Oil Corp., Bharti Airtel, BPCL, HPCL, MRPL, Chennai Petrol. Corp. Market Cap of Reliance Industries is ₹19,31,963 Crs. While the median market cap of its peers are ₹1,08,968 Crs.
Is Reliance Industries financially stable compared to its competitors?
Reliance Industries seems to be less financially stable compared to its competitors. Altman Z score of Reliance Industries is 2.57 and is ranked 7 out of its 7 competitors.
Does Reliance Industries pay decent dividends?
The company seems to be paying a very low dividend. Investors need to see where the company is allocating its profits. Reliance Industries latest dividend payout ratio is 9.72% and 3yr average dividend payout ratio is 9.25%
How has Reliance Industries allocated its funds?
Companies resources are allocated to majorly productive assets like Plant & Machinery and unproductive assets like Capital Work in Progress
How strong is Reliance Industries balance sheet?
Balance sheet of Reliance Industries is moderately strong, But short term working capital might become an issue for this company.
Is the profitablity of Reliance Industries improving?
Yes, profit is increasing. The profit of Reliance Industries is ₹80,787 Crs for TTM, ₹69,621 Crs for Mar 2024 and ₹66,702 Crs for Mar 2023.
Is the debt of Reliance Industries increasing or decreasing?
Yes, The net debt of Reliance Industries is increasing. Latest net debt of Reliance Industries is ₹2,41,028 Crs as of Mar-25. This is greater than Mar-24 when it was ₹1,30,401 Crs.
Is Reliance Industries stock expensive?
Reliance Industries is expensive when considering the PE ratio, however latest EV/EBIDTA is < 3 yr avg EV/EBIDTA. Latest PE of Reliance Industries is 27.74, while 3 year average PE is 27.71. Also latest EV/EBITDA of Reliance Industries is 13.13 while 3yr average is 15.35.
Has the share price of Reliance Industries grown faster than its competition?
Reliance Industries has given better returns compared to its competitors. Reliance Industries has grown at ~20.36% over the last 10yrs while peers have grown at a median rate of 11.0%
Is the promoter bullish about Reliance Industries?
Promoters seem not to be bullish about the company and have been selling shares in the open market. Latest quarter promoter holding in Reliance Industries is 50.11% and last quarter promoter holding is 50.13%
Are mutual funds buying/selling Reliance Industries?
The mutual fund holding of Reliance Industries is increasing. The current mutual fund holding in Reliance Industries is 9.21% while previous quarter holding is 9.14%.