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CLSA recommends buying Reliance Industries shares, projecting a 30% upside by 2025. With a $30 billion valuation on Reliance's solar business, they’re targeting a 1,650 rupee share price. Could this be the perfect time to buy RIL?

Reliance Industries: Is Now the Perfect Time to Buy Shares? CLSA Sees 30% Upside

CLSA recommends buying Reliance Industries shares, projecting a 30% upside by 2025. With a $30 billion valuation on Reliance's solar business, they&rsquo;re targeting a 1,650 rupee share price. Could this be the perfect time to buy RIL?

Is now the right time to buy Reliance Industries shares, down 20 percent from their peak?
Experts at CLSA say a resounding yes!
They&rsquo;ve rated shares of Mukesh Ambani-led Reliance as an &lsquo;outperformer&rsquo; with a 30 percent upside seen in 2025.
What&rsquo;s driving this confidence?
The upcoming solar PV gigafactory, which CLSA sees as a game-changer the market is overlooking.
With the rise in solar stocks, CLSA values Reliance&rsquo;s solar business at 30 billion dollars, bringing the company&rsquo;s New Energies division to 43 billion dollars&mdash;
leading to a price target of 1,650 rupees per share.
What&rsquo;s your take on the recent decline in Reliance Industries&rsquo; share prices? Tell us in the comments. And subscribe to business hook for more stock specific updates.

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF). The centre has also mandated exporters to meet the requirements of the domestic market first. The government has levied a&nbsp;₹6 per litre tax on exports of petrol and ATF and&nbsp;₹13 per litre on exports of diesel.This has a big impact on Mukesh Ambani backed Reliace Industries and state-owned ONGC who are the largest crude&nbsp; exporters for India.The government also slapped a ₹23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.
The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US.
The tax on domestically produced crude oil follows local producers reaping windfall gains from the surge in international oil prices.

Breaking News: Govt raises taxes on export of ATF, diesel and petrol

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF).

Taxing times for Mukesh Ambani

The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel

The government on Friday announced an increase in taxes on the export of petrol, diesel, and aviation turbine fuel (ATF). The centre has also mandated exporters to meet the requirements of the domestic market first. The government has levied a&nbsp;₹6 per litre tax on exports of petrol and ATF and&nbsp;₹13 per litre on exports of diesel. This has a big impact on Mukesh Ambani backed Reliace Industries and state-owned ONGC who are the largest crude&nbsp; exporters for India. The government also slapped a ₹23,230 per tonne additional tax on domestically produced crude oil to take away windfall gains accruing to producers from high international oil prices.
The tax on exports follows oil refiners, particularly the private sector, reaping huge gains from exporting fuel to markets such as Europe and the US.
The tax on domestically produced crude oil follows local producers reaping windfall gains from the surge in international oil prices.

RIL
Singapore GRMs at $17/bbl Highest level in past 5 yeas In Q4, Singapore GRMs at $7.8/bbl
MS on Reliance, after adding to Asia focus list 
Overweight TP Raised to Rs 3253 from Rs 2926
As world retools way it produces & uses energy, & as energy security takes center-stage, green hydrogen is gaining attention.
Hydrogen adoption plans are quickly progressing, with RIL best positioned to capitalize.
Multifaceted hydrogen boost for RIL with up to US$25bn potential
Energy upcycle should help fund its growth & lift multiples
 
Analysts at JP Morgan observed recently the sharp surge in diesel cracks would boost refining profits for the company while offsetting the weaknesses in the petrochemicals business. Goldman Sachs wrote that refining tailwinds should sustain given the improved supply, demand from closures and from jet fuel, lower Chinese exports, low inventory and also supply disruption. “We forecast GRM to improve from $9.0/bbl in FY22E to $14.3/11.0 per bbl in FY23/24E at a premium to industry benchmark GRM,” analyst at the firm observed.

Reliance shares on a roll, Morgan Stanley bets bigger 

Reliance shares have been on an upside move, at the same time Morgan&nbsp; Stanley has raised its target price on the stock from Rs 2,926 to Rs 3,253.
The research firm in a report said, "as the world retools the way it produces and uses energy, and as energy security takes center-stage, green hydrogen is gaining attention. Hydrogen adoption plans are quickly progressing, with RIL best positioned to capitalize. The energy upcycle should help fund its growth and lift multiples."
Morgan Stanley has a bull case target of Rs 3,974 on the stock, while in the bear case it estimates the scrip at Rs 2,347. The price target indicates a good risk-reward ratio even as Reliance shares trade at an all-time high level.
"As the green hydrogen ecosystem is rolled out, it will also raise demand for RIL's solar panels. To put things in perspective, India's 2030 hydrogen production target would absorb the entire 100-gigawatt&nbsp;cumulative panel capacity that RIL plans to achieve," MS mentioned in its report.

Hydrogen adoption plans are quickly progressing, with RIL best positioned to capitalize.

Reliance shareholders are cheering the green on their portfolio as the stock nears record high, and brokerages feel their is much more upside for the Mukesh&nbsp;Ambani backed scrip.&nbsp; Morgan&nbsp;Stanley who recently added the stock to it's Asia focus list has raised its target price on the stock from Rs 2,926 to Rs 3,253.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/ukraine-war-tata-steel-takes-a-stand-stops-business-with-russia-1650507451310" target="_blank">Ukraine war: Tata Steel takes a stand, stops business with Russia</a>
The research firm in a report said, "as the world retools the way it produces and uses energy, and as energy security takes center-stage, green hydrogen is gaining attention. Hydrogen adoption plans are quickly progressing, with RIL best positioned to capitalize. The energy upcycle should help fund its growth and lift multiples."
"As the green hydrogen ecosystem is rolled out, it will also raise demand for RIL's solar panels. To put things in perspective, India's 2030 hydrogen production target would absorb the entire 100-gigawatt&nbsp;cumulative panel capacity that RIL plans to achieve," MS mentioned in its report.&nbsp;
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/trending-infosys-non-compete-clause-and-why-it-is-causing-a-stir-1650509556752" target="_blank">Trending: Infosys non-compete clause and why it is causing a stir</a>
Reliance is also enjoying&nbsp;refining margins that are now clocking in at 5 year highs as per reports.&nbsp;Analysts at JP Morgan observed recently the sharp surge in diesel cracks would boost refining profits for the company while offsetting the weaknesses in the petrochemicals business. Goldman Sachs wrote that refining tailwinds should sustain given the improved supply, demand from closures and from jet fuel, lower Chinese exports, low inventory and also supply disruption.&nbsp;

After getting use to smart phones and cars, now it's time to get ready for smart bazaars!
Mukesh Ambani owns Reliance Retail has finalised a new retail store brand, Smart Bazaar, for the locations where the Future Group's Big Bazaar outlets used to operate this month. 
According to report by ET, smart bazaar will be focusing majorly on apparel and general merchandise. It will be different from the existing Reliance Retail's Smart supermarkets and will more be in line with the functioning of Big Bazaar so that consumers can feel connected. 
Further, the retail unit of Reliance Industries is working on opening its own stores in around 950 properties it had sub-leased to the Future Group but took possession back citing non-payment of rent.
The move comes days after Future group on March 7 and 8 received termination notices for 947 stores, which it had sub-leased from Reliance entities.
In August 2020, Reliance Retail had agreed to take over the retail and logistics business of the Future group for Rs 24,713 crore.

Biyani's Big Bazaar to become Smart Bazaar? Mukesh Ambani's plans for 'Future'

Mukesh Ambani owned Reliance Retail has finalised a new retail store brand, Smart Bazaar, for the locations where the Future Group's Big Bazaar outlets used to operate this month. 



Biyani's Big Bazaar to Ambani's Smart Bazaar? 

Report:&nbsp;RIL plans to open at least a hundred stores, including a few Smart Bazaar stores this month itself.&nbsp;

After getting use to smart phones and cars, now it's time to get ready for smart bazaars!
Mukesh&nbsp;Ambani&nbsp;owned Reliance Retail has finalised a new retail store brand, Smart Bazaar, for the locations where the Future Group's Big Bazaar outlets used to operate this month.&nbsp;
According to report by ET, smart bazaar will be focusing majorly on apparel and general merchandise. It will be different from the existing Reliance Retail's Smart supermarkets and will more be in line with the functioning of Big Bazaar so that consumers can feel connected.&nbsp;
Further, the retail unit of Reliance Industries is working on opening its own stores in around 950 properties it had sub-leased to the Future Group but took possession back citing non-payment of rent.
The move comes days after&nbsp;Future group on March 7 and 8 received termination notices for 947 stores, which it had sub-leased from Reliance entities.
In August 2020, Reliance Retail had agreed to take over the retail and logistics business of the Future group for Rs 24,713 crore.

Mukesh Ambani backed Reliance is checking into the financial capital of the world with a super luxury address. Asia's richest man has decided to buy Mandarin Oriental, a premium luxury hotel in New York, for $98.15 million.Overlooking the Hudson River, Central Park and the famous city skyline, the hotel offers rooms starting $1000 all the way to a suite that could set you back $14,000 a night. This is acquisition expands Reliance's horizon on hospitality. The group started the journey with investing in the iconic Oberoi Hotels (EIH) in 2010 and holds over 18% stake in the company. International expansion came last year for the Ambanis with the acquisition of the 300-acre Stoke Park country club in Buckinghamshire in London. 

Reliance checks into New York as Mukesh Ambani acquires luxury spot for $98 million

Mukesh Ambani backed Reliance is checking into the financial capital of the world with a super luxury address. Asia's richest man has decided to buy Mandarin Oriental, a premium luxury hotel in New York, for $98.15 million.

Reliance checks into New York with a luxury address 

<ul>
<li>Mukesh&nbsp;Ambani&nbsp;to acquire luxury hotel in New York&nbsp;</li>
<li>Reliance buys&nbsp;Mandarin Oriental in NY for $98 million</li>
<li>Mandarin Oriental is a premium luxury hotel in NY</li>
<li>Room in Mandarin Oriental = $1000 to $14,000/night</li>
<li>Reliance has stake in Oberoi&nbsp;Hotels, acquired&nbsp;Stoke Park</li>
</ul>

The company had expanded footprint in London by buying&nbsp;iconic country club Stoke Park&nbsp;

Mukesh&nbsp;Ambani&nbsp;backed Reliance is checking into the financial capital of the world with a super luxury address. Asia's richest man has decided to buy Mandarin Oriental, a premium luxury hotel in New York, for $98.15 million. Overlooking the Hudson River, Central Park and the famous city skyline, the hotel offers rooms starting $1000 all the way to a suite that could set you back $14,000 a night.&nbsp;
Also watch:&nbsp;<a href="https://www.editorji.com/business-news/ambani-acquires-uk-s-iconic-country-club-stoke-park-1619157116743" target="_blank">Ambani acquires UK's iconic country club Stoke Park</a>
This is acquisition expands Reliance's horizon on hospitality.&nbsp;The group started the journey with investing in the iconic Oberoi&nbsp;Hotels (EIH) in 2010 and holds over 18% stake in the company. International expansion came last year for the Ambanis with the acquisition of the&nbsp;300-acre Stoke Park country club in Buckinghamshire&nbsp;in London.&nbsp;

Mukesh Ambani backed RIL has made a U-turn in it's decision to hive off their oil-to-chemical (O2C) business and thus also cancelling it's plan to sell 20% to Saudi Arabia's Aramco in the company. “RIL and Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” RIL said in a statement late night on FridayWhat is the changed context? 
India's largest private sector company by market capitalisation is making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. This new focus is taking the investment context away from the traditional biz of oil-to-chemical.So is the chapter with RIL-Aramco shut?No, Reliance stated that the two will make "future disclosures as appropriate,” on partnerships. The negotiation between RIL and Saudi Aramco may now include the new clean initiatives announced by the Mukesh Ambani led-company.
 

Reliance stock cracks 3% as $15 billion deal with Aramco stands cancelled

The $15 billiion deal between India's largest company by marketcap, RIL and the world's largest Oil company, Aramco stand cancelled. 

Reliance-Aramco to rework deal. O2C deal cancelled

<ul>
<li>Reliace-Aramco&nbsp;stake sale deal stand cancelled, RIL&nbsp;not to rejig&nbsp;business</li>
<li>RIL:&nbsp;Aramco have mutually determined to re-evaluate the investment</li>
<li>RIL&nbsp;likely to focus partnerships with Aramco&nbsp;in new energy business</li>
<li>Mukesh&nbsp;Ambani&nbsp;has committed $10 billion to new energy ventures of RIL</li>
<li>RIL: Aramco&nbsp;and Reliance to make future&nbsp;disclosures when appropriate</li>
</ul>

Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business.&nbsp;

Mukesh&nbsp;Ambani&nbsp;backed RIL&nbsp;has made a U-turn in it's decision to hive off their oil-to-chemical&nbsp;(O2C) business and thus also cancelling it's plan to sell 20% to Saudi Arabia's Aramco&nbsp;in the company.&nbsp; &ldquo;RIL and Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,&rdquo; RIL said in a statement late night on Friday What is the changed context?&nbsp;
India's largest private sector company by market capitalisation is making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. This new focus is taking the investment context away from the traditional biz of oil-to-chemical. So is the chapter with RIL-Aramco shut? No, Reliance stated that the two&nbsp;will make "future disclosures as appropriate,&rdquo; on partnerships.&nbsp;The negotiation between RIL and Saudi Aramco may now include the new clean initiatives announced by the Mukesh Ambani led-company.
&nbsp;

India's most valuable company Reliance Industries Ltd (RIL) reported earnings for Q1 and despite a 7% drop in profit have beaten the street estimates.
Operating numbers showed resilience during the pandemic with consolidated operating profit of the company growing 27.6 per cent on-year to a record high of Rs 27,550 cr.The revenue from the main business of oil-to-chemical also saw significant surge, up 75% on a year-on-year basis.&nbsp;The telecom&nbsp;vertical with&nbsp;Jio Platforms outperformed estimates on all parameters. Revenues and profit grew 4 per cent each and the platform reported that&nbsp;total users stood at 440 million at the end of June.&nbsp;The focus from here on though moves to clean energy as RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;told shareholders in the earnings release;&nbsp; "I am most excited by the swift start to our new Clean and Green Energy business initiative. We have started investment across all verticals. We are also resolutely implementing our vision of net carbon zero before 2035, which is our highest priority."
&nbsp;

RIL Q1: Petchem & Jio connect as earnings beat estimates

RIL's&nbsp;earnings connect as Jio and Petchem&nbsp;beat street estimates, Mukesh&nbsp;Ambani&nbsp;reminds shareholders that the priority is now clean energy.&nbsp;

RIL Q1 Earnings

<ul>
<li>RIL&nbsp;Q1 earnings beat street estimates through profit drops 7%</li>
<li>RIL operating profit up 27% at record high of ₹27,550 cr</li>
<li>Oil-to-chemical segment revenues rise 75% on a low base</li>
<li>Jio&nbsp;platform earnings beat street estimates, 440 million users reported&nbsp;</li>
<li>Mukesh&nbsp;Ambani: Priority is to be net carbon zero before 2035</li>
</ul>

Mukesh Ambani&nbsp;reiterates to shareholders that going carbon free by 2035 remains the group's top priority.&nbsp;

India's most valuable company Reliance Industries Ltd (RIL) reported earnings for Q1 and despite a 7% drop in profit have beaten the street estimates.
Operating numbers showed resilience during the pandemic with the consolidated operating profit of the company growing 27.6 per cent on-year to a record high of ₹27,550 cr. The revenue from the main business of oil-to-chemical also saw a significant surge, up 75% on a year-on-year basis.&nbsp; The telecom&nbsp;vertical with&nbsp;Jio Platforms outperformed estimates on all parameters. Revenues and profit grew 4 per cent each and the platform reported that&nbsp;total users stood at 440 million at the end of June.&nbsp; The focus from here on though moves to clean energy as RIL&nbsp;chief Mukesh&nbsp;Ambani&nbsp;told shareholders in the earnings release;&nbsp; "I am most excited by the swift start to our new Clean and Green Energy business initiative. We have started investment across all verticals. We are also resolutely implementing our vision of net carbon zero before 2035, which is our highest priority." 
&nbsp;

RIL's&nbsp;44th AGM&nbsp;had the full star cast from the Reliance Group from Mukesh&nbsp;Ambani, Nita Ambani&nbsp;and next gen&nbsp;leaders Isha and Akash Ambani&nbsp;with the added bonus from Google Chief Sundar&nbsp;Pichai making a pit stop as well. Big announcements were expected and delivered here are the top 5-:

JioPhone&nbsp;Next: In an effort to make the country 2G-mukt, Mukesh&nbsp;Ambani&nbsp;finally announced that&nbsp;the much awaited affordable smartphone&nbsp;developed by Google and Jio&nbsp;will be available as early as September 10.&nbsp;Reliance also extends it's partnership with Google for 5G solutions over Google's cloud biz
New Energy Biz: With a promise to transform the legacy business into a net-zero carbon company, Mukesh&nbsp;Ambani&nbsp;launched Dhirubhai Green Energy Giga Complex in Jamnagar with an investment commitment of Rs 75,000 cr over 5 years. RIL's&nbsp;aim to shift to green energy that is as Ambani&nbsp;said "Made in India, By India and For India."
Aramco&nbsp;Deal: Better late than never, two years after the announcement the promise of 20% stake sale to Aramco&nbsp;will be done this year said Mukesh&nbsp;Ambani. Along with the $15 billion deal Aramco&nbsp;also got a seat at the table&nbsp;Yasir Al Rumayyan, Chairman of the oil giant will join RIL's&nbsp;board.&nbsp;
Jio&nbsp;Institute: Despite the pandemic delays Jio&nbsp;Institute will open it's campus in Navi&nbsp;Mumbai to students&nbsp;this year itself announced Reliance Foundation chairperson Nita Ambani.&nbsp;
Jio&nbsp;Vaccine Booster: In a bid to promote vaccine for all Nita Ambani&nbsp;announced that the Jio&nbsp;Health Hub will be opened for all to register and expedite the mass vaccine drive across the country.&nbsp;


RIL AGM: 5 Big announcements made , Jio Phone, New Energy, Aramco and more

RIL's&nbsp;44th AGM&nbsp;had the full star cast from the Reliance Group from Mukesh&nbsp;Ambani, Nita Ambani&nbsp;and next gen&nbsp;leaders Isha and Akash Ambani&nbsp;with the added bonus from Google Chief Sundar&nbsp;Pichai making a pit stop as well. Big announcements were expected and delivered here are the top 5-:
<ul>
<li>JioPhone&nbsp;Next: In an effort to make the country 2G-mukt, Mukesh&nbsp;Ambani&nbsp;finally announced that&nbsp;the much awaited affordable smartphone&nbsp;developed by Google and Jio&nbsp;will be available as early as September 10.&nbsp;Reliance also extends it's partnership with Google for 5G solutions over Google's cloud biz</li>
<li>New Energy Biz: With a promise to transform the legacy business into a net-zero carbon company, Mukesh&nbsp;Ambani&nbsp;launched Dhirubhai Green Energy Giga Complex in Jamnagar with an investment commitment of Rs 75,000 cr over 5 years. RIL's&nbsp;aim to shift to green energy that is as Ambani&nbsp;said "Made in India, By India and For India."</li>
<li>Aramco&nbsp;Deal: Better late than never, two years after the announcement the promise of 20% stake sale to Aramco&nbsp;will be done this year said Mukesh&nbsp;Ambani. Along with the $15 billion deal Aramco&nbsp;also got a seat at the table&nbsp;Yasir Al Rumayyan, Chairman of the oil giant will join RIL's&nbsp;board.&nbsp;</li>
<li>Jio&nbsp;Institute: Despite the pandemic delays Jio&nbsp;Institute will open it's campus in Navi&nbsp;Mumbai to students&nbsp;this year itself announced Reliance Foundation chairperson Nita Ambani.&nbsp;</li>
<li>Jio&nbsp;Vaccine Booster: In a bid to promote vaccine for all Nita Ambani&nbsp;announced that the Jio&nbsp;Health Hub will be opened for all to register and expedite the mass vaccine drive across the country.&nbsp;</li>
</ul>

RIL's&nbsp;44th AGM&nbsp;had the full star cast from the Reliance Group from Mukesh&nbsp;Ambani, Nita Ambani&nbsp;and next gen&nbsp;leaders Isha and Akash Ambani&nbsp;with the added bonus from Google Chief Sundar&nbsp;Pichai making a pit stop as well. Big announcements were expected and delivered here are the top 5-:
<ul>
<li>JioPhone&nbsp;Next: In an effort to make the country 2G-mukt, Mukesh&nbsp;Ambani&nbsp;finally announced that&nbsp;the much awaited affordable smartphone&nbsp;developed by Google and Jio&nbsp;will be available as early as September 10.&nbsp;Reliance also extends it's partnership with Google for 5G solutions over Google's cloud biz</li>
<li>New Energy Biz: With a promise to transform the legacy business into a net-zero carbon company, Mukesh&nbsp;Ambani&nbsp;launched Dhirubhai Green Energy Giga Complex in Jamnagar with an investment commitment of Rs 75,000 cr over 5 years. RIL's&nbsp;aim to shift to green energy that is as Ambani&nbsp;said "Made in India, By India and For India."</li>
<li>Aramco&nbsp;Deal: Better late than never, two years after the announcement the promise of 20% stake sale to Aramco&nbsp;will be done this year said Mukesh&nbsp;Ambani. Along with the $15 billion deal Aramco&nbsp;also got a seat at the table&nbsp;Yasir Al Rumayyan, Chairman of the oil giant will join RIL's&nbsp;board.&nbsp;</li>
<li>Jio&nbsp;Institute: Despite the pandemic delays Jio&nbsp;Institute will open it's campus in Navi&nbsp;Mumbai to students&nbsp;this year itself announced Reliance Foundation chairperson Nita Ambani.&nbsp;</li>
<li>Jio&nbsp;Vaccine Booster: In a bid to promote vaccine for all Nita Ambani&nbsp;announced that the Jio&nbsp;Health Hub will be opened for all to register and expedite the mass vaccine drive across the country.&nbsp;</li>
</ul>

The much awaited RIL&nbsp;AGM&nbsp;scheduled on June 24 has a lot on the agenda for shareholders including potentially an Aramco&nbsp;representation on the RIL&nbsp;board.&nbsp;Reports state that&nbsp;Saudi Aramco&nbsp;Chairman&nbsp;Yasir Al-Rumayyan may be joining the&nbsp;board of&nbsp;Reliance Industries&nbsp;(RIL).&nbsp;Yasir Al-Rumayyan&nbsp;is also the Governor of&nbsp;of the Kingdom&rsquo;s wealth fund &mdash; Public Investment Fund (PIF) that has already&nbsp;picked up minority stake in Reliance Retail and Jio.Mukesh Ambani&nbsp;in 2019 has announced talks for the sale of 20% stake in the oil-to-chemical&nbsp;business to the world&rsquo;s largest oil exporter Aramco. The deal which has been delayed for undisclosed reasons was announced in the 2019 AGM.&nbsp; At the point the O2C biz was valued at $75 billion.&nbsp;&nbsp;

Reliance AGM: Here is what to expect from $15 billion proposed Aramco-RIL deal 

Over 3 million shareholders await keenly for the #RILAGM&nbsp;on June 24, The $15 billion #Aramco&nbsp;deal could finally kick off. Here is what to expect from #MukeshAmbani&nbsp;

The much awaited RIL&nbsp;AGM&nbsp;scheduled on June 24 has a lot on the agenda for shareholders including potentially an Aramco&nbsp;representation on the RIL&nbsp;board.&nbsp; Reports state that&nbsp;Saudi Aramco&nbsp;Chairman&nbsp;Yasir Al-Rumayyan may be joining the&nbsp;board of&nbsp;Reliance Industries&nbsp;(RIL).&nbsp;Yasir Al-Rumayyan&nbsp;is also the Governor of&nbsp;of the Kingdom&rsquo;s wealth fund &mdash; Public Investment Fund (PIF) that has already&nbsp;picked up minority stake in Reliance Retail and Jio. Mukesh Ambani&nbsp;in 2019 has announced talks for the sale of 20% stake in the oil-to-chemical&nbsp;business to the world&rsquo;s largest oil exporter Aramco. The deal which has been delayed for undisclosed reasons was announced in the 2019 AGM.&nbsp; At the point the O2C biz was valued at $75 billion.&nbsp; &nbsp;

Reliance Jio&nbsp;has kicked off it's 5G trial in Mumbai&nbsp;using equipment that is 'Made In India'.&nbsp;India's largest telecom&nbsp;network provider is looking to launch the 5G network in India by June 24 as per reports.&nbsp;Samsung, Ericsson and Nokia&nbsp;are said to be working with Mukesh&nbsp;Ambani&nbsp;promoted Jio&nbsp;to launch the 5G network across the nation.&nbsp;Jio had applied for trials in Delhi, Mumbai, Gujarat and Hyderabad.&nbsp;There is a buzz on Dalal&nbsp;Street that&nbsp;Jio is expected to officially launch it's 5g network on&nbsp;June 24th during its Annual General Meeting (AGM). Department of Telecom&nbsp;had given permission to&nbsp;Airtel, Reliance Jio, VI, and MTNL to test out 5G networks in India. Jio&nbsp;is likely to be the first to roll it out.&nbsp;

Jio 5G trial starts in Mumbai with Made In India equipment

Reliance Jio&nbsp;has kicked off it's 5G trial in Mumbai&nbsp;using equipment that is 'Made In India'.&nbsp;India's largest telecom&nbsp;network provider is looking to launch the 5G network in India by June 24 as per reports.&nbsp; Samsung, Ericsson and Nokia&nbsp;are said to be working with Mukesh&nbsp;Ambani&nbsp;promoted Jio&nbsp;to launch the 5G network across the nation.&nbsp;Jio had applied for trials in Delhi, Mumbai, Gujarat and Hyderabad.&nbsp; There is a buzz on Dalal&nbsp;Street that&nbsp;Jio is expected to officially launch it's 5g network on&nbsp;June 24th during its Annual General Meeting (AGM). Department of Telecom&nbsp;had given permission to&nbsp;Airtel, Reliance Jio, VI, and MTNL to test out 5G networks in India. Jio&nbsp;is likely to be the first to roll it out.&nbsp;

Reliance Jio&nbsp;has kicked off it's 5G trial in Mumbai&nbsp;using equipment that is 'Made In India'.&nbsp;India's largest telecom&nbsp;network provider is looking to launch the 5G network in India by June 24 as per reports.&nbsp; Samsung, Ericsson and Nokia&nbsp;are said to be working with Mukesh&nbsp;Ambani&nbsp;promoted Jio&nbsp;to launch the 5G network across the nation.&nbsp;Jio had applied for trials in Delhi, Mumbai, Gujarat and Hyderabad.&nbsp; There is a buzz on Dalal&nbsp;Street that&nbsp;Jio is expected to officially launch it's 5g network on&nbsp;June 24th during its Annual General Meeting (AGM). Department of Telecom&nbsp;had given permission to&nbsp;Airtel, Reliance Jio, VI, and MTNL to test out 5G networks in India. Jio&nbsp;is likely to be the first to roll it out.&nbsp;

Reports indicate that India's richest man Mukesh&nbsp;Ambani&nbsp;is set to give Visa, Mastercard&nbsp;some competition as Reliance looks at a global payment platform option with Google and Facebook.&nbsp;Sources have told the Economic Times that Jio&nbsp;Payments Bank is exploring the option of making these services available overseas as well. Reports indicate Reliance will hold 40% in the unit with Google and Facebook&nbsp;holding 20% each and Infibeam&nbsp;having the residual 20% stake.&nbsp;

Mukesh Ambani sets sight on global payments platform with Google and Facebook

Reports indicate that India's richest man Mukesh&nbsp;Ambani&nbsp;is set to give Visa, Mastercard&nbsp;some competition as Reliance looks at a global payment platform option with Google and Facebook.&nbsp;

<ul>
<li>Reliance looks at global payments platform</li>
<li>Reliance has partnered with Google, Facebook for NUE</li>
<li>Reliance, Google, Facebook&nbsp;explore global payment platform: Reports</li>
<li>Jio&nbsp;Payments Bank likely to compete with Visa, Mastercard&nbsp;</li>
</ul>

Reports indicate that India's richest man Mukesh&nbsp;Ambani&nbsp;is set to give Visa, Mastercard&nbsp;some competition as Reliance looks at a global payment platform option with Google and Facebook.&nbsp; Sources have told the Economic Times that Jio&nbsp;Payments Bank is exploring the option of making these services available overseas as well. Reports indicate Reliance will hold 40% in the unit with Google and Facebook&nbsp;holding 20% each and Infibeam&nbsp;having the residual 20% stake.&nbsp;

RIL, Future Group to take on Amazon over stalled deal

Future Retail may challenge the ruling from the Singapore-based arbitrator before Indian legal forums;&nbsp;RIL&nbsp;too intends to complete the transaction without any delay

RIL, Future Group respond to Amazon-invoked arbitration ruling

Future Retail on Monday hinted that it may challenge the arbitration award from the Singapore-based arbitration center before Indian legal forums. The company also said that&nbsp;Future Retail Ltd&nbsp;is not a party to the agreement under which Amazon has invoked arbitration proceedings.&nbsp;
Meanwhile, RIL&nbsp;said it intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay. The&nbsp;Reliance-Future Retail deal has been done under proper legal advice and the rights and obligations are fully enforceable under Indian Law, RIL&nbsp;said in an exchange filing.

Has Reliance denied reports of $20 billion Amazon deal?

The report about the RIL-Amazon deal which sent the domestic giant's shares 7% higher on Thursday, contributing 126 points to the&nbsp;Nifty's&nbsp;171 points gain, may not take place at all.
Reliance Industries has denied a report that it was planning to sell a $20 billion stake in its retail business to Amazon, AFP&nbsp;reported quoting a source at the oil-to-telecom&nbsp;company.
However, Reliance, in an exchange filing, denied commenting on any such deal.
The report published by Bloomberg on Thursday mentioned that Mukesh Ambani-led RIL&nbsp;had offered Amazon a&nbsp;40% stake in its retail business.

The report about the RIL-Amazon deal which moved the domestic giant's shares 7% higher on Thursday, contributing 126 points to the&nbsp;Nifty's&nbsp;171 points gain, may not take place at all.
Reliance Industries has denied a report that it was planning to sell a $20 billion stake in its retail business to Amazon, AFP&nbsp;reported quoting a source at the oil-to-telecom&nbsp;company.
However, Reliance, in an exchange filing, denied commenting on any such deal.
The report published by Bloomberg on Thursday mentioned that Mukesh Ambani-led RIL&nbsp;had offered Amazon a&nbsp;40% stake in its retail business.

The report about the RIL-Amazon deal which sent the domestic giant's shares 7% higher on Thursday, contributing 126 points to the&nbsp;Nifty's&nbsp;171 points gain, may not take place at all.
Reliance Industries has denied a report that it was planning to sell a $20 billion stake in its retail business to Amazon, AFP&nbsp;reported quoting a source at the oil-to-telecom&nbsp;company.
However, Reliance, in an exchange filing, denied commenting on any such deal.
The report published by Bloomberg on Thursday mentioned that Mukesh Ambani-led RIL&nbsp;had offered Amazon a&nbsp;40% stake in its retail business.

Reliance becomes first Indian firm to cross $200 bn market cap

Reliance Industries has become the first Indian firm&nbsp;to cross the $200 billion market cap after it shares&nbsp;surged almost 6% during the day to touch an all-time high of 2,344

Mukesh Ambani's Reliance Industries has become the first Indian firm&nbsp;to cross the $200 billion market cap.&nbsp;This is about twice the size of the next biggest Indian firm, TCS, which is valued at $119 billion.
RIL's shares&nbsp;surged almost 6% during the day to touch an all-time high of 2,344 on Thursday, as per the NSE&nbsp;data. It has surged nearly 157% since mid-March. The rise in market value of the oil-to-telecom conglomerate is driven by its retail and telecom operations.
In terms of global oil &amp; gas companies, RIL ranks second, after Saudi Aramco.

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