Saudi Arabia's Crown Prince and de facto ruler Mohammed bin Salman has put Public Investment Fund (PIF), Saudi Arabia's main sovereign wealth fund, at the centre of reforms aimed at diversifying the economy of the world's top oil exporter away from fossil fuel

RIL has said independent growth of company will enable focused approach towards opportunities across the O2C value chain. It will enhance efficiencies through self-sustaining capital structure and a dedicated management team

After demerger, holding company RIL will have upstream exploration and production business, financial services, treasury and textile business, while RIL O2C Ltd will have an oil-to-chemical business comprising refining and petrochemicals, fuel retail, and control over global subsidiaries of RIL

'Reorganising refining and petrochemicals as oil-to-chemicals (O2C) reflects new strategy as well as management matrix', the company said in a post earning investor presentation

Stocks to watch today on January 6: HDFC, HDFC Bank, RIL, Bajaj Finance, Hero MotoCorp, Godrej Consumer among others are the top stocks to watch out for in Wednesday's trading session

Mukesh Ambani built three sector-dominating businesses under RIL and cleaned off the conglomerate's debts by raising Rs 2.89 lakh crore

Oil Minister Dharmendra Pradhan said an estimated investment of $66 billion is lined up in developing gas infrastructure, which includes pipelines, city gas distribution, and LNG regasification terminals

If Agarwal's Vedanta buys BPCL, it will pit him directly against Reliance Industries Chairman Mukesh Ambani in the oil sector

Centre has received multiple EOIs for stake sale in BPCL, though names have not been made public. Biggest oil companies, including Mukesh Ambani's RIL, Saudi Aramco, BP, and Total, have, however, not shown interest in the state-owned oil firm

Reliance Industries, which was considered a potential bidder as BPCL would have added 22 per cent fuel market share to its fledgling retail business and made it the nation's number one oil refiner, did not put in an expression of interest

The asking price of close to $10 billion by the government for selling its entire 52.98 per cent stake may keep the energy giants away from bidding for a majority stake in the second largest oil refinery and marketing company in India

The government, which is exiting BPCL by selling its entire 52.98 per cent stake, has already extended the date of putting in the preliminary expression of interest (EoI) on four occasions

Newly listed insurance, mutual fund, pure play credit card and small finance banking players are charming Dalal Street

Weaker refining and chemicals margins have also hit the company's net profit, which fell to 44.21 billion riyals ($11.79 billion) for the quarter ended Sept. 30 from 79.84 billion riyals last year

Backed by Chinese e-commerce group Alibaba Group Holding, the initial public offering (IPO) of Ant Group is  the world's largest

The dual listing, a first for Shanghai's Nasdaq-style STAR Market and Hong Kong, would value Ant at about $312 billion before a so-called greenshoe option for a 15% overallotment of shares

STC, Saudi Arabia's largest telecoms operator, sent a request for proposals to international and local banks last week for Solutions by STC; the company did not communicate with banks its planned deal size

This could be the world's largest IPO, surpassing the record set by Saudi Aramco's $29.4 billion float last December. It would also be the first simultaneous listing in Hong Kong and the STAR Market in Shanghai

The government plans to conclude the bidding process in four major PSUs -- BPCL, Shipping Corporation (SCI), Container Corporation (Concor) and BEML -- by November last as the stock market is heading to break above pre-Covid levels

The current account surplus surged to $19.8 billion or 3.9 per cent of GDP in the April-June quarter as merchandise imports fell amid the ongoing COVID-19 crisis