Fitch Ratings has said the upgrade of Reliance Industries Ltd’s (RIL’s) long-term foreign-currency (FC) issuer default rating (IDR) to BBB in June — a notch above India’s country ceiling of BBB-minus — reflects expectation that RIL’s hard-currency (HC) external debt-service ratio will remain above 1.0x over the next 12 months. Also, Fitch expects RIL’s deleveraging […]
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Reliance to embed e-commerce app into WhatsApp within six months
Mukesh Ambani’s Reliance Industries plans to embed its ecommerce app JioMart into WhatsApp within six months, financial daily Mint reported https://bit.ly/3oTRtPB on Monday, as the Indian conglomerate looks to ramp up its retail and grocery business in the country. Reliance, which has been trying to move away from its mainstay […]
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Reliance Industries becomes first Indian firm to hit USD 150 billion market cap
Reliance Industries on Monday became the first Indian firm to hit a market valuation of USD 150 billion helped by a continuous rally in its share price. In morning trade, the company’s market valuation jumped Rs 28,248.97 crore to Rs 11,43,667 crore (USD 150 billion) on the BSE. The […]
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Reliance Industries’ rights issue opens today: All about the fund raiser
Reliance Industries Ltd’s Rs 53,125-crore shares rights issue, the first of its kind in almost 30 years, will open for subscription of shareholders on Wednesday and close on June 3. The Mukesh Ambani-led company had set a price of Rs 1,257 per share for the rights issue with a ratio of 1:15 […]
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Reliance Industries’ Rs 53,125-crore rights issue to open May 20, close June 3
Oil-to-telecom conglomerate Reliance Industries Ltd on Saturday said its mega Rs 53,125 crore rights issue will open for subscription of shareholders on May 20 and close on June 3. Billionaire Mukesh Ambani’s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights […]
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Reliance Industries jumps over 3% after company fixes rights issue date
Reliance Industries Ltd (RIL) shares jumped more than 3% in morning trade on Monday, looking to extend its winning streak into the fifth consecutive session, after billionaire Mukesh Ambani-led oil-to-telecom major fixed May 14 as the record date for the country’s biggest rights issue. The stock has gained 5.6% this […]