Balaji Telefilms Zooms Nearly 9% On RIL Stake Buy Nod

Analysts on average expected Reliance Industries to post a standalone profit of Rs7,993 crore

Given the falling crude prices, RIL's gross refining margins are on a tear, with the company clocking an enviable $11.9 per barrel, much above the Singapore's benchmark of $6.4 per barrel during the June quarter. They held 43.3% stake in the production house till June 30, The Times of India reported. Additionally, he also said that market capitalization has multiplied from ten crores to over five lakh crores.

Revenue of the company grew 26.7 per cent to Rs 90,537 crore primarily on account of increase in prices and volumes of refining and petrochemical products, partially offset by lower prices and volumes from oil and gas exploration and production business.

"Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter", it said. Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74 per cent. Over the past 3-4 years, we made significant investments in new plants, thus creating organic growth platforms for our energy and materials businesses.

Ambani also talked about newly-launched Jio and how it impacted. "Ramp-up of ethane import project has helped in diversifying feedstock sources and mitigating risks for our existing crackers at Dahej and Hazira".

Reliance Industries (RIL) has acquired a 24.92 per cent stake in Ekta Kapoor-owned TV and movie production house Balaji Telefilms for Rs 413.28 crore ($64 million). The company said that during Q1FY18, its revenues from organised retail jumped almost 74% to Rs 11,571 crore from Rs 6,666 crore a year earlier.

Revenue from the media business fell 8.8% to Rs. 321 crore with a negative EBIT of Rs. 41 crore.

In a separate filing, Balaji Telefilms said its board considered and approved an investment by RIL through a preferential issue of 2.52 crore shares at Rs164 each, aggregating Rs413.28 crore.

Before the earnings announcement, RIL shares closed at Rs.1,528.70, down 0.31%, on the BSE.



Latest news

European Central Bank leaves interest rates alone -- for now
Sales grew 0.6% on the month, beating forecasts by 0.2%, while sales excluding fuel increased 0.4% more-than-expected at 0.9%. Economists had expected jobless claims to edge down to 245,000 from the 247,000 originally reported for the previous week.

India beat Australia by 36 runs to enter final
The India vs Australia , ICC Women's World Cup 2017 Semi-final Match will start at 03:00 PM IST, Saturday, July 20, 2017 . There was momentary despair on 98 for the all-rounder as she called for a second run after a fumble in the field.

Cavs in Serious Talks With Derrick Rose
Cleveland would give him the best chance to win a title and the Lakers would have the role best fit for the veteran point guard. Rose had his strongest season in years, putting up 18.0 points per game and 4.4 assists in 64 games for the New York Knicks .

Oil Prices Remain High On China Demand
Despite such a complicated environmental situation, global crude prices started increasing in the second half of July this year. Oil prices edged up today as traders recovered from anxiety about a surprise rise in United States crude stockpiles.

Other news