Billionaire Anil Agarwal-led Ltd is evaluating a demerger of its aluminium, iron & steel and oil & gas businesses, which will be run as standalone listed entities with separate leadership in what it called a value-unlocking exercise. On Wednesday, Vedanta announced the constitution of a committee of directors to evaluate and recommend such options and … Read more
In line with Reliance’s increasing focus on renewables and hydrogen, the Company has decided to put gasification assets into a separate 100% subsidiary. Key points to note – The Gasification project at Jamnagar was set up to repurpose refinery off-gases and produce Syngas to be used for production of olefins at lower costs. Syngas is … Read more
Reliance and Saudi Armco have mutually decided to call off the proposed investment by the latter of $15 bn into Reliance’s Oil to Chemicals (O2C) business. “Due to the evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment … Read more
Billionaire Anil Agarwal‘s on Wednesday said it is mulling a group restructuring that may include demerger and listing of the aluminium, iron & steel, and oil and gas businesses as standalone entities. In a stock exchange filing, the firm said its board has constituted a committee of directors to evaluate and recommend options to restructure … Read more
Mukesh Ambani, Asia’s richest person, joined Jeff Bezos and Elon Musk in the world’s most exclusive wealth club with a fortune of at least $100 billion.The chairman of Ltd. entered the rarefied group of 11 men as his conglomerate’s stock climbed to a record on Friday. He’s now worth $100.6 billion, according to the Bloomberg … Read more
In June, the government had advanced the target of achieving 20% ethanol in petrol (E20) by five years to 2025. At present, the average blend is around 8-9%. Given the overall better prospects, Triveni announced a capex of Rs 350 crore to more than double it’s distillation capacity over the next 9 months. Key points … Read more
The Supreme Court on Tuesday threw out Adani Gas Ltd’s challenge to the decision of the Petroleum and Natural Gas Regulatory Board (PNGRB) to award the city natural gas distribution (CGD) network for Sanand, Bavla and Dholka in Gujarat to Gujarat Gas. A bench of Justices U U Lalit, S R Bhat and Hrishikesh Roy … Read more