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Future holds shareholders’ meeting to seek nod for Rs 24,713-crore Reliance deal

Future Group companies on Wednesday held shareholders meetings, pursuant to tribunal directions, to seek approvals for the proposed Rs 24,713-crore deal with Reliance Industries (RIL). The group companies — Future Retail (FRL), Future Enterprises (FEL), Future Lifestyle Fashions (FLF) and Future Consumer (FCL) — held their meetings through videoconferencing and other audio-visual means, the companies …

Reliance Industries new-energy biz makes stock attractive, Goldman Sachs, Motilal say Buy; check target price

Mukesh Ambani’s Reliance Industries Ltd (RIL) forayed into the new-energy business over a year ago now. Since then the company has been working to set up Giga factories, acquire technology, and partner with industry players. RIL has so far put in (or committed) a total of Rs 109 billion into the new energy vertical for …

Reliance Industries, SBI, TCS, ITC among top stock picks; Nifty unlikely to break 17200 support

By Dharmesh Shah Equity benchmarks started the previous week on a subdued note tracking muted global cues. The Nifty ended the week at 17475, down 1.7%. Broader markets indices performed in tandem with the benchmark as Nifty midcap and small-cap lost 1% each. Sectorally, all major indices took a breather weighed by metal, auto, realty. …

Reliance Industries gets CoC’s approval to acquire Sintex

Sintex was founded in the 1930s as a textile mill, Bharat Vijay Mills, in Kalol, Gujarat, and was later rebranded as Sintex Industries, a cotton yarn and fabric maker. The bid by Reliance industries’ (RIL) consortium to acquire Gujarat-based Sintex Industries, which is undergoing bankruptcy proceedings, received the committee of creditors’ (CoC) approval on Saturday. …

Reliance Industries rating – Buy: Refining profits to improve in Q4

Petchem margins present risk to FY23 estimates though integrated operations will lower impact; ‘Buy’ retained Despite tight inventories, diesel cracks have come off sharply from the past week. RIL’s refining profit could surprise positively in Q4FY22e but should normalise in FY23e. Petchem margins are near 10-yr lows and China’s lockdowns paint a weak outlook for …

Future group companies to convene shareholders’ meeting on April 20

In 2020, Future Group had signed a deal to sell its retail, logistics and warehousing businesses to Reliance Retail, a subsidiary of billionaire Mukesh Ambani-controlled RIL. Future Group has convened shareholders and creditors meeting in April to seek their approval for the proposed `24,713-crore deal with Reliance Industries (RIL). The listed firms including Future Enterprises, …

Fund managers went shopping for Infosys, RIL in February, sell TCS shares; check what mutual funds traded

Mutual funds deployed Rs 284 billion in secondary markets during the month with large-cap names such as Infosys and Reliance Industries among the top purchases along with ICICI Bank. Domestic mutual funds saw yet another month of net inflows into equities in February. Mutual funds deployed Rs 284 billion (Rs 28400 crore)in secondary markets during …

Boost for world’s biggest refining complex! Mukesh Ambani’s Reliance stepping in to supply diesel-starved Europe amid Ukraine crisis

Reliance Industries Ltd.’s Jamnagar facility is lifting crude processing and deferring planned maintenance to take advantage of surging demand for diesel, according to people with direct knowledge of the matter. The global energy crunch spurred by Russia’s invasion of Ukraine is giving the world’s biggest refining complex a much-needed boost. Reliance Industries Ltd.’s Jamnagar facility …