NSE:RELIANCE

Market Chatter: Reliance, Vedanta, Adani Eye Andhra Pradesh Rare Earth Processing Projects

Reliance Industries (NSE:RELIANCE, BOM:500325), Vedanta (NSE:VEDL, BOM:500295) and Adani Group have expressed interest in setting up rare earth processing facilities in Andhra Pradesh, India, Reuters reported on Thursday, citing people familiar with the matter.The companies are among about 10 firms exploring opportunities in the state, the report noted.Reuters said Andhra Pradesh is seeking cabinet approval for its proposed rare earth corridor policy, which is expected within a month. The state will reportedly invite bids for such projects after securing cabinet approval.The move comes as India seeks to strengthen domestic rare earth processing capabilities and reduce reliance on imports of critical minerals, Reuters reported.Rare earth elements are key inputs in permanent magnets used in electric vehicles and various industrial applications.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Meta, Reliance Industries to Establish AI-Enabled Data Center in Jamnagar, India

Global technology giant Meta and Indian conglomerate Reliance Industries (NSE:RELIANCE, BOM:500325) have agreed to establish an AI-enabled data center in Jamnagar, India, according to a statement issued on Tuesday.Under the terms of the agreement, Reliance will build a data center with 168 MW capacity, which Meta will lease, with options to scale. The Facebook parent will cover the full cost of the energy and water supporting the facility.Meta and Reliance have a long-standing partnership, including a massive $5.7 billion investment by Meta in Jio Platforms in 2020. In 2025, Reliance and Meta also partnered for enterprise AI solutions for India, with a proposed joint investment of $100 million.

Moody's Upgrades Ratings of Four Major Indian Companies After Change in Rating Methodology

Moody's has upgraded the ratings of four major corporates in India as part of the revision of its sovereign-linked ratings methodology, which replaces its earlier framework, according to a Friday statement issued by the ratings agency.In this process, Tata Consultancy Services' (NSE:TCS, BOM:532540) long-term local currency issuer rating was upgraded to A2 from Baa1. The long-term local currency issuer rating of another technology giant, Infosys (NSE:INFY, BOM:500209), was upgraded to A2 from Baa1.Both companies are the only ones to be rated at four notches above the Indian sovereign.Moody's said both technology giants benefit from a highly diversified revenue base across geographies and sectors, strong and consistent profitability, excellent liquidity, a debt-free balance sheet, and sustained robust free cash flow generation.The ratings agency also upgraded Reliance Industries' (NSE:RELIANCE, BOM:500325) long-term local currency issuer rating and its foreign currency senior unsecured ratings to Baa1 from Baa2, while Tata Steel's (NSE:TATASTEEL, BOM:500470) long-term foreign currency issuer rating has moved up to Baa2 from Baa3.Moody's said Reliance gains from its leading positions across oil-to-chemicals, digital services, and retail, as well as counter-cyclical business segments and significant international exposure, with more than one-third of revenue coming from exports.For Tata Steel, Moody's said that the company continues to benefit from its close association with the parent Tata Sons and the broader Tata Group, including the strength of the Tata brand, which supports its access to funding and relationships with lenders and investors.The outlook for all four Indian companies remains stable, the statement said.

Reliance Industries' Rise Worldwide Scores MLB Tie-Up

Reliance Industries (NSE:RELIANCE, BOM:500325) said Major League Baseball (MLB) is teaming up with its subsidiary, RISE Worldwide, to support baseball-related activities in India, according to an Indian bourse filing on Wednesday.The collaboration will focus on marketing, digital and commercial initiatives. It also includes plans to host a live baseball event in Mumbai in October, the announcement said.RISE Worldwide operates as an independent entertainment, sports, and lifestyle company.Shares of Reliance Industries fell nearly 1% in Thursday's trade.

Market Chatter: Reliance Industries In Talks with CATL, Other Companies, for Battery Components

Reliance Industries (BOM:500325, NSE:RELIANCE) is in talks with battery giant Contemporary Amperex Technology (SHE:300750, HKG:3750) and other suppliers to purchase battery energy storage system parts, Bloomberg reported Tuesday, citing people familiar with the matter.The Indian giant's move could help it obtain a second major source of battery parts for its upcoming factory in Jamnagar, Gujarat, India, the report said, citing the sources.That source will beef up supplies from Xiamen Hithium Energy Storage Technology, Bloomberg said.Reliance has faced roadblocks in obtaining technological know-how to produce lithium-ion battery cells, pushing the company to rely on packaging pre-manufactured battery cells into big ones amid Beijing's export controls on battery technology, Bloomberg said.Reliance and CATL did not immediately respond to requests for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Market Chatter: Reliance Industries May Offer Only Fresh Shares in Jio IPO to Limit Capital Outflows

Reliance Industries (NSE:RELIANCE, BOM:500325) plans to offer only fresh shares in the proposed initial public offering of Jio Platforms, without stake sales by existing investors, Bloomberg reported Monday, citing people familiar with the matter.Jio Platforms could raise up to $4 billion through the offering, the people told Bloomberg. This would make it India's largest-ever IPO, surpassing Hyundai Motor India's $3.3 billion listing, the report noted.The company aims to file draft papers for IPO this month, the report said. Market volatility due to the Iran war has already delayed timelines, it added.A fresh issue structure would help reduce overseas capital outflows at a time when foreign investors continue to pull money from Indian equities, Bloomberg noted.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Jefferies Adjusts Reliance Industries' Price Target to INR1,695 from INR1,755, Keeps at Buy

Nomura Adjusts Reliance Industries' Price Target to INR1,640 from INR1,700, Keeps at Buy

Reliance Industries' Consolidated Profit Declines in Fiscal Q4

Reliance Industries's (NSE:RELIANCE, BOM:500325) consolidated attributable net profit declined to 169.7 billion Indian rupees in the fiscal fourth quarter ended March 31, from 194.1 billion rupees a year ago.The Indian conglomerate's earnings per share contracted to 12.54 rupees from 14.34 rupees a year earlier, according to a Friday filing to the Indian stock exchanges. The EPS was lower than the 14.77 rupees estimated by the analysts polled by Visible Alpha.Revenue from operations in fiscal Q4, however, rose to 2.986 trillion rupees from 2.646 trillion rupees a year ago. This was higher than Visible Alpha's estimate of 2.588 trillion rupees.The company's board recommended a dividend of 6 rupees per equity share of 10 rupees each for the financial year ended March 31.

Magenta Lifecare Bags Mattresses Supply Order from Reliance Industries; Shares Down 5%

Mattresses and pillows manufacturer Magenta Lifecare (BOM:544188) has secured an order of an undisclosed amount for 6,000 mattresses from Reliance Industries (NSE:RELIANCE, BOM:500325), according to a BSE filing on Friday.The company's shares were down nearly 5% in recent trade.