Snehal khanna Blog

RIL has been borrowing heavily for expansion and entry into telecom space with Jio into which it has invested over Rs 1.4 lakh cr LATEST NEWS : Reliance Industries , the most profitable company as also the largest borrower, has hit the overseas debt market with a $800-million bond sale programne as it seeks to pare a portion of its high cost debt that stands at over Rs 2.14 lakh crore. "Reliance has hit the overseas debt market with a $800 million issue," investment banker told PTI, requesting not to be quoted as the issue is yet to be priced and closed. Meanwhile, rating agency Moody's today signed a Baa2 rating to the proposed unsecured bond sale by RIL. The bonds will rank pari passu with RIL's other existing and future unsecured and unsubordinated obligations, it said assigning the Baar rating. It can be noted that for the September quarter, RIL, which has a market capitalisation of close to Rs 6 lakh crore, had a cash pile of Rs 77,014 cror...

A rich list is an annual map of wealth creation largely based on stock value and real estate LATEST NEWS    :   Biotechnology pioneer Kiran Mazumdar -Shaw has not given much thought to the latest list of 100 rich persons in India in which she also figures, but says it reflects the state of the economy. The chairperson and managing director of Bengaluru- headquartered Biocon Ltd, with a fortune of $2.16 billion, was placed at the 72nd position on Forbes magazine's annual 'India Rich List 2017'. "A rich list is an annual map of wealth creation largely based on stock value and real estate. I don't give it much thought other than it reflects the state of the economy," she told PTI. Reliance Industries chief Mukesh Ambani emerged as India's wealthiest for the 10th straight year as his net worth swelled to $38 billion (nearly Rs 2.5 lakh crore) while the wealth of 100 richest rose by 26 per cent despite economic hiccups. More than four-f...

Prebooking starts from August 24 onwards, phone will go on sale starting September LATEST NEWS :  Mukesh Ambani-backed Reliance Industries has launched the JioPhone for free during the 40th annual general meet that was held in Mumbai on July 21. The feature phone with smartphone alike features will go on testing beta phase starting August 15 and the preorder will begin starting August 24. The phone will go on sale in September to users who prebook the device. ( The details on how to pre-book with device have yet not been shared by RIL). Even though the phone is effectively free, there is a catch in the form of one-time security deposit fee of Rs 1,500, which is refundable only after 36-months, that the user need to pay. In a bid to bring the 50 crore feature phone customers of India on to  Reliance Jio network, the company launched the phone with cost-effective tariff plans. Reliance Jio is offering free voice, data, Jio apps and SMS to its users at a mont...

Key challenge to come from the launch of 4G feature phones by the RIL subsidiary, say analysts LATEST NEWS :  The share prices of Bharti Airtel and Idea Cellular gained on Wednesday, on the expectation of the new rate plans announced by Reliance Industries’ (RIL) telecom subsidiary, Reliance Jio (Jio), leading to improvement in their operating metrics. The price plan announced by Jio on Tuesday is estimated to be 30-57 per cent higher than earlier promotional offers. Brokerages say this is positive and a clear indication of rationalisation of pricing. Analysts at UBS say the first Jio price increase in almost 12 months supports the brokerage view that sector revenues are close to bottoming out, with the top three operators and Jio expected to incrementally take share from smaller entities. Credit Suisse in a note said the new Jio rates would start the process of normalising these from the current discounted levels. Also indicating that RIL is looking at monetising its...

However, on net basis, RJio continues to add maximum users Latest news :Reliance Jio has begun to witness a slowdown in active subscriber additions. For the first time since September, when Jio stormed into the market, Bharti Airtel has added more active subscribers than Jio. As per reports by Goldman Sachs and ICICI Securities, Jio added 0.4 million active subscribers in April as compared to 2.6 million by Airtel. During the September-October period of last year Jio was adding around 16 million subscribers a month. However, in terms of net additions, RELIANCE JIO continues to add maximum subscribers. It added 3.87 million subscribers in April followed by 2.85 million by Airtel, 0.81 million by BSNL, 0.75 million by Vodafone and 0.68 million by Idea. All other operators lost subscribers on net basis in April. Jio has witnessed a deceleration in its active subscribers in fourth straight month and since the company has started to charge its users from April, the de...

The company's revenue for the fourth quarter was Rs 10,332 crore, up 18.9 per cent sequentially Reliance Retail , the retail arm of Mukesh Ambani-led Reliance Industries, reported a 65.6 per cent jump in profit before depreciation, interest and tax (PBDIT) to Rs 366 crore for the quarter ended March 31, against Rs 221 crore in the same period last financial year. The PBDIT stood at Rs 333 crore in the quarter ended December 31. The figures are not strictly comparable, though, as the company put its petroleum retail business under its organised retail segment from 2016-17. The company’s revenue for the fourth quarter was Rs 10,332 crore, up 18.9 per cent sequentially. Revenue for the full year was Rs 33,765 crore ($5.2 billion), up 60.2 per cent as compared to the previous year. But, again, the previous year’s numbers did not include fuel retailing. Read this: 'We don't endorse this': No petrol on Sundays gets thumbs down from govt “The increase in...

Reliance Industries is expected to report night straight quarter of PAT growth The market watchers are keenly awaiting Reliance Industries Ltd’s March quarter results, which the oil & gas major will announce later in the day. While the company is expected to report strong overall numbers amid growth in the refining and petrochemical segment, all eyes will be on RIL’s commentary on Reliance Jio Infocomm, the group’s telecom venture. RIL, now an oil-to-telecom conglomerate, has reported growth in profit after tax (PAT) for eight straight quarters, and beaten consensus PAT estimates in six quarters in a row. READ THIS : Sensex gains 200 points, Nifty stays at all-time high in noon trade "We expect strong earnings, driven by refining and petchem (higher volumes, improved margins). Despite increased losses in domestic E&P (exploration and production), we expect RIL to report a ninth straight quarter on quarter stand-alone PAT growth," analysts with Nomu...