Reliance Industries to restructure and repurpose Gasification AssetsThe Gasification project at Jamnagar was set up with the objective to produce syngas to meet the energy requirements as refinery off-gases
West Elm launches 2 stores in partnership with Reliance Industriesa brand licensing armThe new West Elm stores are a lifestyle experience where everyone wants to explore and discover the beauty of West Elm designs
Reliance Industriesa arm signs agreements with EnsignWith this transaction, Reliance has divested all its shale gas assets and has exited from the shale gas business in North America
Reliance Industriesa telecom arm brings mobile connectivity to DemchokIn Ladakh, the Jio network has been connected via 3 fiber routes, Leh-Srinagar, Leh-Manali (Himachal Pradesh), and Leh-Gurez, to build redundancy
Reliance Industriesa arm acquires majority stake in Ritu Kumar's firm 'Ritika'RRVL's majority equity acquisition in Ritika included completely acquiring Everstone's 35 per cent stake in the company
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Reliance Industries Ltd. (RIL) is a behemoth in the Indian industry spectrum with a market capitalization of USD 224.18 billion as of November 2021. Globally, it is the 54th most valued company and the largest private-sector enterprise in India.
Reliance Industries Ltd. is the group's flagship company, which is engaged in a wide range of businesses from energy, petroleum products, telecom, and retail. RIL features among the Fortune 500 companies list and caters to over 300 million customers.
Company background and profile
In the year 1957, Dhirubhai Ambani started Reliance as a textile company. He opened a trade business in a small 500 sq. ft office in Masjid Bandar in Mumbai in 1957. The second mill of Reliance started in Naroda, Gujarat. In 1977, the IPO of Reliance Textile Industry was launched and was oversubscribed seven times. In 1996, Reliance became the largest textile brand 'Only Vimal'.
From a humble beginning, Reliance has achieved several milestones in its journey to becoming one of the most recognised brands globally. They are the world's largest polyester yarn and fibre producer and among the top ten companies in producing petrochemical products. They have several offices in India and abroad. Today the company operates in different business segments of
- Exploration and production of crude oil and natural gas
- Petroleum refining and marketing
- Petroleum products manufacturing
- Telecommunications and internet services
Company financials and performance
Let's take a look at the Q2 results of the current fiscal of Reliance Industries Limited. You can subscribe to Smart Buzz to find real-time updates on Reliance Industries news and Reliance Industries stock price news.
- Reliance Industrie Ltd. Q2 profit jumped by 43%, and revenue increased by 50% to Rs 1.75 trillion.
- The oil telecom conglomerate booked a profit of Rs 13,680 crore against Rs 9,567 crore reported during the same quarter last year.
- Their quarter-on-quarter net profit increased by 3%.
- Revenue from the oil-to-chemical unit rose by 58.1%, benefiting from increased demands across products.
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