Reliance Industries' slew of equity deals to drive improvement in company rating: Fitch Ratings
4 years, 8 months ago

Reliance Industries' slew of equity deals to drive improvement in company rating: Fitch Ratings

Firstpost  

Reliance Industries’ proposed $7 billion rights issue, a string of equity deals of $8 billion in Jio Platforms, and $1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday New Delhi: Reliance Industries’ proposed $7 billion rights issue, a string of equity deals of $8 billion in Jio Platforms, and $1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday. “The rights issue and equity deals when completed are likely to support an upgrade of RIL’s long-term local-currency issuer default rating of ‘BBB’, which is on a positive outlook,” it said in a statement. “We forecast RIL to generate positive free cash flow in the financial year ending March 2021, the first time since FY13, and its net leverage to fall to 1.8x from 2.2x in FY20,” Fitch said. “Lower net leverage would result from higher earnings before interest, taxes, depreciation and amortization generation from consumer businesses and lower capex intensity, despite the likelihood of coronavirus-related weakness in its refining and petrochemical segment.” While its consumer-facing businesses will see growth, the firm’s traditional oil refining and petrochemical business would face volume margin headwinds due to weakening demand, the rating agency said.

Business Equity Jio Reliance Industries Deals Issue Billion Jio Platforms Fitch Ratings Fy21 Equity Deals Bp Plc Rating Fitch Ratings Rating Fitch  fy21  drive  issue  jio  equity  leverage  slew  reliance  improvement  rights  business  rating  fitch  ratings  industries  revenue  billion  deals

History of this topic

Reliance Industries shares: Goldman Sachs says selling in stock ‘overdone’, cuts target price
6 days, 1 hour ago

Reliance Industries shares: Goldman Sachs says selling in stock ‘overdone’, cuts target price

Live Mint  

Following an over 17 per cent decline in the last one year, global brokerage firm Goldman Sachs said the recent sell-off in Reliance Industries Ltd shares is "overdone," with the stock price now nearing its "bear case" valuation. However, Goldman Sachs remains confident that RIL’s FY26 EBITDA will grow by 24 per cent year-on-year, supported by favourable dynamics such as …

RIL preparing for Jio IPO next year, retail business to go public much later
2 months, 1 week ago

RIL preparing for Jio IPO next year, retail business to go public much later

Live Mint  

Reliance Jio IPO: Reliance Industries Ltd aims to list its subsidiary Jio Platforms Ltd, which houses the country’s largest telecom company, in 2025, two people familiar with the development said. Reliance Jio Infocomm Ltd, a fully owned subsidiary of Jio Platforms, houses the group’s telecom services business, offering voice and data services to more than 479 million consumers in the …

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check
8 months, 3 weeks ago

Reliance gets thumbs-up from S&P, Fitch as strong earnings keep leverage in check

Hindustan Times  

New Delhi, Reliance Industries Ltd has won a vote of confidence from global rating agencies S&P and Fitch after its robust earnings in the fiscal year ended March 31, 2024, supported its growth aspirations and kept leverage under check. Just as in the past two years, the digital services segment will be the key growth driver, with segment's EBITDA increasing …

RIL Q4 results today: Here are key things to track and look out for
8 months, 3 weeks ago

RIL Q4 results today: Here are key things to track and look out for

Hindustan Times  

Reliance Q4 results today: Mukesh Ambani-led Reliance Industries Ltd. is set to release its March quarter results today. Date and time of RIL Q4 results: Reliance Industries- India’s largest company in terms of market capitalisation- will declare the results of the fourth quarter of financial year 2023-24 today. RIL Q4 results expectations: Prabhudas Lilladher expects the conglomerate to report 10.7 …

RIL trades flat ahead of 46th AGM at 2 pm today; Jio Financial surges 5%
1 year, 4 months ago

RIL trades flat ahead of 46th AGM at 2 pm today; Jio Financial surges 5%

Business Standard  

Shares of Reliance Industries Limited were flat at Rs 2,483 apiece on the BSE in Monday's intra-day trade ahead of 46th annual general meeting. As of 10:55 am, shares of JFSL were up 4.7 per cent to Rs 222 apiece on the BSE, while the stock clinched itself as top Nifty50 performer, up 3.7 per cent on the NSE. In …

Jio Financial Services to become the second largest shadow lender by market cap
1 year, 5 months ago

Jio Financial Services to become the second largest shadow lender by market cap

Live Mint  

Jio Financial Services, the financial arm of Reliance Industries Ltd, has unsettled shadow lenders space in the country by claiming the second spot. Post demerging with RIL on Thursday, Jio Financial Services boasts off an implied market capitalisation of ₹1.6 lakh crore, that's way behind Bajaj Finance m-cap of ₹4.59 lakh crore, but significantly higher to its contemporaries in the …

Reliance Industries share price may see over 20% upside, say brokerages
1 year, 8 months ago

Reliance Industries share price may see over 20% upside, say brokerages

Live Mint  

Reliance Industries share price can witness a sharp upside of 25% led by recovery in petchem business amid a sustainable competitive advantage on scale economics, cost leadership, financial strength, global brokerages said. It believes listing of Jio Financial Services and more updates on the retail business in this year’s annual general meeting can help narrow RIL’s relative underperformance to Nifty. …

Reliance Jio Posts Net Profit Of Rs 4,173 crore, Largely In Line With Estimates
2 years, 8 months ago

Reliance Jio Posts Net Profit Of Rs 4,173 crore, Largely In Line With Estimates

News 18  

Reliance Jio, the telecom arm of Reliance Industries Ltd, on Friday reported a net profit of Rs 4,173 crore for the fourth quarter of the 2021-22 financial year that ended on March 31, 2022. A CNBC-TV18 poll had predicted a net profit of Rs 4,400 crore for the quarter under review. India’s largest telecom operator has reported earnings before tax, …

44th AGM of RIL: Reliance Industries' contribution to Indian economy remains unmatched, says Mukesh Ambani
3 years, 6 months ago

44th AGM of RIL: Reliance Industries' contribution to Indian economy remains unmatched, says Mukesh Ambani

Firstpost  

44th AGM of RIL: Reliance Industries raised $44.4 billion, the largest-ever capital raised by any company in a year globally, says Mukesh Ambani Reliance Industries Limited chairman Mukesh Ambani while addressing the 44th AGM of the company on Thursday said that even in a challenging environment, the company’s performance continued to be outstanding. As India’s largest enterprise, RIL’s contribution to …

Fitch upgrades Reliance Industries’ rating a notch above India’s sovereign rating
3 years, 6 months ago

Fitch upgrades Reliance Industries’ rating a notch above India’s sovereign rating

Live Mint  

Fitch Ratings has upgraded Reliance Industries Ltd's rating to 'BBB', one notch above India's sovereign rating, as the company benefits from cash flow generation across diversified business segments and continuation of deleveraging. RIL's local-currency IDR reflects the company's strong business profile, with market-leading positions and diversified cash flow from a mix of oil-to-chemical and consumer businesses, as well as lower …

Google-Jio deal: CCI clears Google picking up 7.73% stake in Jio Platforms for ₹33,737 cr
4 years, 2 months ago

Google-Jio deal: CCI clears Google picking up 7.73% stake in Jio Platforms for ₹33,737 cr

Live Mint  

The Competition Commission of India has said that it has approved Google picking up 7.73% stake in Mueskh Ambani-led Jio Platforms for ₹33,737 crore, facilitating the internet major and Jio Platforms Ltd to develop and launch Android smartphones in India. Taking to Twitter, the watchdog wrote, "Commission approves acquisition of 7.73% equity share capital of Jio Platforms by Google." 14th …

RIL Q2 Preview: Reliance Jio, Retail Likely To Cushion The Company's Financials Sequentially
4 years, 2 months ago

RIL Q2 Preview: Reliance Jio, Retail Likely To Cushion The Company's Financials Sequentially

ABP News  

: Hit by Covid-19 pandemic, companies are announcing its results with the oil-to-telecom conglomerate Reliance Industries Ltd in the line to announce its September quarter earnings of FY21 on Friday. According to the leading business website Bloombergquint, Reliance Industries Ltd’s profit and revenue are estimated to decline on the back of lower demand for petchem fuel with refining margin also …

RIL rights issue receives overwhelming response, raises over Rs 84,000 crore
4 years, 7 months ago

RIL rights issue receives overwhelming response, raises over Rs 84,000 crore

India Today  

Reliance Industries Limited’s mega rights issue has received an overwhelming response from investors and helped the company raise over Rs 84,000 crore. Commenting on the success of the rights issue, RIL Chairman Mukesh Ambani said, “I express my sincere thanks to our dear and esteemed shareholders for participating in this rights issue and making it a new and proud landmark …

Reliance Jio-Silver Lake Rs 5,656 cr deal: Investment values Jio Platforms at enterprise value of Rs 5.15 lakh cr; other key highlights
4 years, 8 months ago

Reliance Jio-Silver Lake Rs 5,656 cr deal: Investment values Jio Platforms at enterprise value of Rs 5.15 lakh cr; other key highlights

Firstpost  

Silver Lake - one of the world’s largest tech investors - on Monday agreed to invest Rs 5,655.75 crore to buy a 1.15 percent stake in billionaire Mukesh Ambani’s digital unit that houses India’s youngest but biggest telecom firm Silver Lake - one of the world’s largest tech investors - on Monday agreed to invest Rs 5,655.75 crore to buy …

Silver Lake to invest in Reliance Jio: RIL is systematically bringing down debt getting strategic partners, says Edelweiss
4 years, 8 months ago

Silver Lake to invest in Reliance Jio: RIL is systematically bringing down debt getting strategic partners, says Edelweiss

Firstpost  

Reliance Industries today said that private equity firm Silver Lake will invest Rs 5,655.75 crore in Reliance Jio Platforms, giving the technology subsidiary an equity value of Rs 4.9 lakh crore. The week before last Facebook said it would invest Rs 43,574 crore in Jio Platforms for a 9.99 percent stake. He adds, Reliance is excited to leverage insights from …

Reliance Industries shares fall over 3% after Q4 earnings; Silver Lake to invest Rs 5,655.75 cr in Reliance Jio
4 years, 8 months ago

Reliance Industries shares fall over 3% after Q4 earnings; Silver Lake to invest Rs 5,655.75 cr in Reliance Jio

Firstpost  

New Delhi: Shares of Reliance Industries on Monday fell over 3 percent after the company posted its biggest drop in quarterly net profit. The firm’s net profit in January-March fell 37 percent to Rs 6,546 crore, the lowest in three years, as a rise in consumer-facing business was not enough to shield the firm from fall in the petrochemical business. …

Reliance Industries to raise Rs 53,125 cr via India's biggest rights issue, first-time after 30 years
4 years, 8 months ago

Reliance Industries to raise Rs 53,125 cr via India's biggest rights issue, first-time after 30 years

Firstpost  

Billionaire Mukesh Ambani’s Reliance Industries Ltd on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first such issue in nearly three decades, as it steps up efforts to pare debt New Delhi: Billionaire Mukesh Ambani’s Reliance Industries Ltd on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 …

Reliance Industries to hive off $75 bn oil-to-chemical business into separate unit for sale to Aramco
4 years, 8 months ago

Reliance Industries to hive off $75 bn oil-to-chemical business into separate unit for sale to Aramco

Firstpost  

Reliance Industries Ltd, India’s largest company, on Thursday said its board has approved hiving off its $75 billion worth oil-to-chemicals business into a separate division to enable the sale of 20 percent stake in the unit to Saudi national oil company Aramco New Delhi: Reliance Industries Ltd, India’s largest company, on Thursday said its board has approved hiving off its …

Reliance Jio's Q4 net profit soars to whopping 177.5% at Rs 2,331 cr, revenue jumps 27% to Rs 14,835 cr
4 years, 8 months ago

Reliance Jio's Q4 net profit soars to whopping 177.5% at Rs 2,331 cr, revenue jumps 27% to Rs 14,835 cr

Firstpost  

Reliance Jio’s rise in net profit, up from Rs 840 crore reported during the corresponding period of FY 2018-19, was fuelled by rising subscriber base and recent tariff hike. The rise in net profit, up from Rs 840 crore reported during the corresponding period of FY 2018-19, was fuelled by rising subscriber base and recent tariff hike. #4QWithCNBCTV18 | @reliancejio: …

Reliance Industries Q4 results: Net profit at Rs 6,546 cr; announces India's biggest rights issue of Rs 53,125 cr
4 years, 8 months ago

Reliance Industries Q4 results: Net profit at Rs 6,546 cr; announces India's biggest rights issue of Rs 53,125 cr

Firstpost  

Reliance Industries has declared a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended 31 March, 2020. The board has announced India’s biggest rights issue of Rs 53,125 crore at a ratio of 1:15 at a price of Rs 1,257 per share. The board approved the issue of equity shares of Rs 10 …

S&P affirms BBB plus rating of Reliance Industries on disciplined spending, resilient earnings
4 years, 8 months ago

S&P affirms BBB plus rating of Reliance Industries on disciplined spending, resilient earnings

Firstpost  

Rating agency S&P Global has affirmed its ‘BBB+’ rating with a stable outlook on Reliance Industries, saying the company’s leverage is poised to improve and stabilise over the next 12-24 months owing to disciplined spending, asset monetisation, and resilient earnings New Delhi: Rating agency S&P Global has affirmed its ‘BBB+’ rating with a stable outlook on Reliance Industries, saying the …

Facebook deal to help Reliance monetise platforms, deleverage: Fitch
4 years, 8 months ago

Facebook deal to help Reliance monetise platforms, deleverage: Fitch

India TV News  

Facebook Inc's USD 5.7 billion investment in Jio Platforms, subsidiary of Reliance Industries Ltd, will help to monetise the digital platforms of both companies and aid in deleveraging of RIL's balance sheet, Fitch Ratings said on Thursday. Reliance Jio, the wireless market leader with around 390 million subscribers, is a subsidiary of Jio Platforms.At the same time, Reliance Retail, RIL's …

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal
4 years, 8 months ago

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal

Firstpost  

Facebook makes the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India, Reliance Industries Limited said in a statement. On 22 April, social media giant Facebook announced an investment of $5.7 billion to buy a 9.9 percent stake in the firm that houses billionaire Mukesh …

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook
4 years, 8 months ago

Construct of FB-Jio deal does not mean that two sides will not compete in the market: Facebook

Firstpost  

Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in the market, officials said on Wednesday New Delhi: Facebook and Jio will look to drive synergies and areas of collaboration but the mega-deal does not mean that the two sides will not compete in …

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts
4 years, 8 months ago

Facebook investment to accelerate Reliance Jio's digital monetisation drive: Analysts

Firstpost  

New Delhi: Facebook’s move to pick up about 10 percent stake in Jio Platforms will accelerate Jio’s digital monetisation drive and put Reliance Industries on course to turn net debt-free by March 2021, analysts said on Wednesday. “Today we are announcing a $5.7 billion, or Rs 43,574 crore, investment in Jio Platforms Ltd, part of Reliance Industries Ltd, making Facebook …

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr
4 years, 8 months ago

RIL shares zoom over 10% on Rs 43,574-cr Jio-Facebook deal; market cap rallies Rs 80,710 cr

Firstpost  

Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion to buy a 10 percent stake in Jio Platforms New Delhi: Shares of Reliance Industries on Wednesday jumped over 10 percent after Facebook announced an investment of $5.7 billion to buy a 10 percent stake in Jio Platforms. Earlier in the day, …

Facebook likely to buy 10 per cent stake in Reliance Jio
4 years, 9 months ago

Facebook likely to buy 10 per cent stake in Reliance Jio

India TV News  

Social media major Facebook is reportedly planning to buy 10 per cent stake in the country's biggest telecom company Reliance Jio. According to Financial Times, Facebook is looking at buying a multibillion-dollar stake in Reliance Jio which has been valued at USD 60 billion by analysts at Bernstein. On March 18, RIL took over some of the debt of Reliance …

Reliance Jio writes to telecom minister; says telcos have sufficient capacity to pay dues after SC verdict on AGR
5 years, 2 months ago

Reliance Jio writes to telecom minister; says telcos have sufficient capacity to pay dues after SC verdict on AGR

Firstpost  

New Delhi: Billionaire Mukesh Ambani’s Reliance Jio on Thursday strongly opposed any bailout to telecom companies at taxpayer’s expense, and asserted that telcos should be mandated to deposit their dues within the court-stipulated timeline of three months, as they have the capacity to comfortably clear their liabilities. In a letter to Telecom Minister Ravi Shankar Prasad on Thursday, Jio argued …

SC verdict on AGR: COAI warns of telecoms sector catastrophe; says Airtel, Vodafone Idea will face 'unprecedented crisis'
5 years, 2 months ago

SC verdict on AGR: COAI warns of telecoms sector catastrophe; says Airtel, Vodafone Idea will face 'unprecedented crisis'

Firstpost  

India’s telecoms sector and leading players Bharti Airtel and Vodafone Idea will face an “unprecedented crisis” if the government refuses to relax its demand for $13 billion in outstanding dues, a lobby group says New Delhi: India’s telecoms sector and leading players Bharti Airtel and Vodafone Idea will face an “unprecedented crisis” if the government refuses to relax its demand …

Reliance Industries to set up digital subsidiary with Rs 1.08 lakh cr investment; Jio to be net debt-free
5 years, 2 months ago

Reliance Industries to set up digital subsidiary with Rs 1.08 lakh cr investment; Jio to be net debt-free

Firstpost  

The subsidiary will also acquire RIL’s equity investment of Rs 65,000 crore in Jio Infocomm, bringing up Reliance’s total investment in the digital business to Rs 1.73 lakh crore The Board of Directors of Reliance Industries Ltd on Friday has approved the formation of a wholly-owned subsidiary for its digital initiatives with an investment of Rs 1.08 lakh crore. The …

Reliance Industries to form a digital subsidiary with ₹1 trillion, Jio to be net debt-free
5 years, 2 months ago

Reliance Industries to form a digital subsidiary with ₹1 trillion, Jio to be net debt-free

Live Mint  

The Board of Directors of Reliance Industries today approved the formation of a wholly-owned subsidiary for digital initiatives with the investment of ₹1,08,000 crore in the subsidiary through optionally convertible preference shares, the company said in a press statement. The subsidiary will acquire RIL’s equity investment of ₹65,000 crore in its telecom subsidiary Reliance Jio Infocomm Ltd. Consequent to the …

Telecom outlook negative, Reliance Jio market share may increase by 40-45%: Fitch Group company – India TV
5 years, 4 months ago

Telecom outlook negative, Reliance Jio market share may increase by 40-45%: Fitch Group company – India TV

India TV News  

Credit profiles of telecom operators will remain under pressure in the medium term due to intense competition, elevated debt levels and continued reliance on capital infusion for debt servicing and capex, India Ratings, a Fitch Group company has said. Reliance Jio will be the only telco whose market share may increase to 40-45 per cent by 2022, it said. "Competitive …

RIL AGM 2019: Mukesh Ambani’s promise of zero net-debt firm in next 18 months is music to ears of shareholders
5 years, 5 months ago

RIL AGM 2019: Mukesh Ambani’s promise of zero net-debt firm in next 18 months is music to ears of shareholders

Firstpost  

Going by Ambani’s speech at the AGM, RIL already has received strong interests for the stake buy in Reliance Jio and Reliance Retail which will help the firm generate fresh cash flow. This included standalone gross debt of Rs 1,61,720 crore and balance in key subsidiaries, including Reliance Jio, Reliance Holding USA, Reliance Retail Group, Independent Media Trust Group, Hathway …

RIL AGM 2019: Full text of Mukesh Ambani's statement at Reliance Industries' 42nd annual general meeting today
5 years, 5 months ago

RIL AGM 2019: Full text of Mukesh Ambani's statement at Reliance Industries' 42nd annual general meeting today

Firstpost  

At the 42nd AGM of Reliance Industries on Monday, Mukesh Ambani unveiled Jio Fiber, the much-talked-about fiber-to-the-home service At the 42nd AGM of Reliance Industries on Monday, Mukesh Ambani unveiled Jio Fiber, the much-talked-about fiber-to-the-home service. Reliance Industries will sell 20 percent stake in its oil and chemicals business to Saudi oil giant Aramco for about $15 billion and nearly …

Reliance Jio's journey since 2016 has been 'incredible', potential for growth is immense, says chairman Mukesh Ambani
5 years, 5 months ago

Reliance Jio's journey since 2016 has been 'incredible', potential for growth is immense, says chairman Mukesh Ambani

Firstpost  

Reliance has invested nearly Rs 5.4 lakh crore over the last five years to generate EBITDA in excess of $1 billion annually for over a decade. Announcing a bouquet of services for customers at the 42nd Annual General Meeting held on Monday in Mumbai, Reliance Industries Ltd chairman and managing director, Mukesh Ambani said Jio’s journey since 2016 was “incredible”. …

RIL AGM 2019: Reliance Jio subscriber base at over 340 mn, ready to kick-start four new growth engines, says Mukesh Ambani
5 years, 5 months ago

RIL AGM 2019: Reliance Jio subscriber base at over 340 mn, ready to kick-start four new growth engines, says Mukesh Ambani

Firstpost  

Mukesh Ambani on Monday said that Jio which has amassed over 340 million subscribers in less than three years, is now ready to fire four new growth engines including Internet of Things for the entire country, home and enterprise broadband services as well as broadband for SMEs Mumbai: Mukesh Ambani on Monday said that Jio which has amassed over 340 …

Reliance Jio may roll out full-fledged JioGigaFiber at Reliance Industries 42nd AGM on 12 August
5 years, 5 months ago

Reliance Jio may roll out full-fledged JioGigaFiber at Reliance Industries 42nd AGM on 12 August

Firstpost  

The most significant announcement that users can expect from Reliance Jio in its 42nd AGM is the commercial launch of JioGigaFiber. JioGigaFiber would provide ultra high-definition entertainment on large screen TVs, multi-party video conferencing from a living room, voice-activated virtual assistance, virtual reality gaming, digital shopping and immersive experiences, Reliance Industries Chairman and Managing Director Mukesh Ambani had said at …

What to expect from Reliance Jio’s Q1 earnings
5 years, 5 months ago

What to expect from Reliance Jio’s Q1 earnings

Live Mint  

India’s newest and only profitable telecom operator Reliance Jio Infocomm Ltd is expected to show improved revenue on the back of strong subscriber additions, but its average revenue per user may decline given that a chunk of these additions comprise low-paying users. Goldman Sachs expects Reliance Industries’ telecom arm to report a revenue of ₹119 billion with 329 million subscribers, …

Reliance Jio net profit jumps 65% to Rs 831 cr in December quarter, operating revenue up 51%
5 years, 11 months ago

Reliance Jio net profit jumps 65% to Rs 831 cr in December quarter, operating revenue up 51%

Firstpost  

Telecom operator Reliance Jio on Thursday reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 quarter, mainly on account of a rise in customer base New Delhi: Telecom operator Reliance Jio on Thursday reported a jump of 65 percent in its net profit to Rs 831 crore during the December 2018 …

Is Reliance Jio already the second largest telecom firm in India?
6 years, 7 months ago

Is Reliance Jio already the second largest telecom firm in India?

Live Mint  

The Telecom Regulatory Authority of India’s financial report for the March quarter puts Reliance Jio Infocomm Ltd’s adjusted gross revenue at ₹ 6,218 crore. Vodafone and Idea Cellular Ltd, both of whom had a head start of about two decades over Reliance Jio, had an AGR market share of 21% and 16.6%, respectively. Based on estimates of Kotak Institutional Equities, …

Discover Related