Reliance Industries Limited (RIL) has reported a 46% increase in its profit after tax for the quarter ended 30 September 2021 (2Q FY22) to INR 15,479 crores ($2.1 billion), compared to INR 10,602 crores ($1.41 billion) in net profit for the same period in the previous fiscal year. The earnings per share (EPS) of the […]
Reliance New Energy Solar has signed agreements with Shapoorji Pallonji and Company (SPCPL) and Khurshed Daruvala for acquiring a stake of 40% in Sterling and Wilson Solar (SWSL) for around INR 2,850 crores ($380 million). Sterling and Wilson Solar, which is part of the Shapoorji Pallonji group, is an India-based pure-play solar engineering, procurement and […]
Reliance New Energy Solar Ltd. (RNESL), a fully-owned subsidiary of Reliance Industries, has acquired REC Solar Holdings AS (REC Group) from China National Bluestar Group for $771 million. REC Group, which is based in Norway, is a solar cells/panels and polysilicon manufacturing company. It has an operational headquarters in Singapore, as well as regional hubs […]
Reliance Retail Ventures (RRVL) said that it has acquired a controlling stake of 40.98% in Indian local search engine platform Just Dial Limited. As per an announcement made in June 2021, the Reliance Industries subsidiary acquired 1.31 crore equity shares, which is a stake of 15.62%, in Just Dial from VSS Mani at INR 1,020 […]
Reliance New Energy Solar (RNESL), a newly incorporated subsidiary of Reliance Industries, will invest $50 million in American energy storage company Ambri Inc for acquiring 42.3 million shares. The Reliance Industry subsidiary is taking part in a $144 million investment in the energy storage firm alongside Paulson & Co. Inc. and Bill Gates among few […]
Reliance Industries Limited said that it has invested INR 1,00,000 in cash in 10,000 equity shares, priced at INR 10 each in Reliance New Solar Energy Limited (RNSEL). The Indian conglomerate had incorporated Reliance New Solar Energy in July 2021 as a new fully-owned subsidiary. Reliance New Solar Energy, which will be engaged in carrying […]
Reliance Industries Limited has reported a 66.7% increase in its profit after tax for the quarter ended 30 June 2021 (1Q FY22) to INR 13,806 crores ($1.9 billion), compared to INR 8,282 crores ($1.11 billion) in net profit for the same period in the previous fiscal year. The Indian conglomerate earned revenue of INR 158,862 […]
Reliance Retail Ventures (RRVL) has agreed to acquire a controlling stake of 66.95% in Just Dial, an Indian local search engine platform, for INR 3,497 crores ($470 million). The Reliance Industries subsidiary said that first, it will make an open offer to purchase up to 2.12 crore equity shares, equivalent to 25.33%, in Just Dial […]
Mukesh Ambani’s Reliance Industries Limited has incorporated a new fully-owned subsidiary called Reliance New Energy Solar Limited (RNESL) by investing INR 1 lakh in 10,000 equity shares of INR 10 each. Reliance New Energy Solar will carry out activities pertaining to solar energy. The new Reliance subsidiary is yet to start its business operations. Reliance […]
Reliance Industries Limited has signed an agreement with Abu Dhabi National Oil Company (ADNOC) for developing a chlor-alkali, ethylene dichloride, and polyvinyl chloride (PVC) production facility at TA’ZIZ in Ruwais, Abu Dhabi. The agreement is said to tap into the increasing demand for the critical industrial raw materials and utilizes the strengths of ADNOC and […]