Reliance Chemotex

June 22 (Reuters) - ** Reliance Industries RELI.NS highlights AI, Jio IPO and new energy as its key growth drivers at shareholders meeting last week

** Stock up 0.7% at 1,319.70 rupees

AI, JIO IPO, NEW ENERGY BETS DRIVE OUTLOOK

** CLSA ("outperform," PT: 1,800 rupees) says AI is central to strategy, with 120 MW compute capacity due by end-2026 and a target to double EBITDA over five years

** Nomura ("buy," PT: 1,640 rupees) highlights Jio IPO filing as a key catalyst, valuing the telecom unit at $117–127 bln, while calling AI and new energy early stage but promising

** Jefferies ("buy," PT: 1,675 rupees) says Reliance is building India's "sovereign AI backbone" and expects new energy to start contributing from FY27

** Emkay Global ("buy," PT: 1,680 rupees) flags Jio IPO progress and scaling AI infrastructure, with meaningful earnings contribution from new energy expected from FY27

(Reporting by Kashish Tandon in Bengaluru)

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** India's Reliance Industries RELI.NS climbs 1.1% to 1,428.90 rupees

** Benchmark Nifty 50 .NSEI trading 0.3% higher

** J.P. Morgan reiterates 'overweight' rating on stock with unchanged PT of 1,695 rupees

** Says stock's valuations look reasonable, adding it sees multiple positive drivers including an upward trend in RELI's near-term petrochemicals business' gross refining margins

** Reliance Retail to also benefit from upcoming festival season - JPM

** Moreover, RELI's growing EBITDA and stable capex, as seen in its annual report, would result in a reduction in leverage, brokerage says

** YTD, RELI gains 17.4% vs Nifty's 6.2% climb

(Reporting by Kashish Tandon in Bengaluru)

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** India's Reliance Industries RELI.NS climbs 3%, extending 2-day gains to 6.7%

** Stock set for best 2-day rise since late Jan 2024, also set for third straight gaining session

** Macquarie upgrades RELI to "Outperform" from "Neutral" and hikes PT to 1,500 rupees from 1,300 rupees

** Brokerage says upgrade triggered by "slew of favorable catalysts", including improving earnings momentum, potential listing of Jio and gradual commissioning of new energy capacities

** RELI rose 1.5% on Thursday as brokerages flagged attractive valuation after recent dip

** Stock hit more than 15-month low this week, down over 25% since hitting all-time high in July 2024

** Avg rating on RELI at "buy"; median PT is 1,559 rupees - LSEG data

** Session's gains erase stock's YTD losses; RELI up ~3% YTD

(Reporting by Kashish Tandon in Bengaluru)

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Updates with closing share price

By Indranil Sarkar and VarunVyas Hebbalalu

BENGALURU, Aug 29 (Reuters) - India's Reliance Industries RELI.NS is on track to more than double in size before the end of the decade, its billionaire-chairman Mukesh Ambani told shareholders on Thursday.

Reliance, which is India's most valuable company with a market capitalisation of $245.44 billion, said it expects to double sales and operating profit in its telecom and retail businesses over the next three to four years as it unveiled measures to step up its adoption of artificial intelligence.

As well as developing a suite of AI tools and platforms called 'Jio Brain' and setting up data centres in the western state of Gujarat, which it plans to power with green energy, Reliance will also partner with global tech firms.

"Our goal is to create the world's lowest AI inferencing cost, right here in India. This will make AI applications in India more affordable than anywhere else," Ambani said during the company's annual general meeting.

Inferencing is how live data is run through a trained AI model to make a prediction or solve a task.

Reliance shares rose by as much as 2.5% after it also said it plans to consider issuing bonus shares to its existing shareholders at a 1:1 ratio, its first such move since 2017.

The shares pared some of those gains later to close 1.5% higher at 3,041.85 rupees.

While the AI and cloud-related efforts will help Reliance's telecom arm Jio retain customers, they are "expected evolutions" which have already been implemented by competitors, said Balaji Subramanian, a research analyst at IIFL Securities.

"Those are all incrementally positive, but the AGM today, at least from a Jio perspective, was not groundbreaking," he added.

Retail and telecoms are two of Reliance's largest businesses, with the former making up nearly a third of its first-quarter revenue, while digital services provided by Jio contributed 15%.

Jio, launched in 2007, has become the market leader in Indian telecoms, surpassing Bharti Airtel BRTI.NS and Vodafone Idea VODA.NS to boast the largest subscriber base.

Reliance Retail, which owns e-commerce platforms with JioMart and stores under labels from Reliance Digital to Smart Bazaar, has become India's largest retailer by revenue, offering Indians just about everything.

Reliance also said it expects its new energy business to become as profitable as its oils-to-chemicals unit over the next 5-7 years.

Meanwhile, Ambani welcomed Disney's DIS.N $8.5 billion-merger with Reliance's media assets to form India's largest entertainment group, which was approved on Wednesday by the country's antitrust authority.

"Just like Jio and Retail, our expanded Media business will be an invaluable growth centre in the Reliance ecosystem," he said.

($1 = 83.8800 Indian rupees)

(Reporting by Indranil Sarkar and Varun Hebbalalu in Bengaluru; editing by Jason Neely, David Goodman, Dhanya Skariachan and Alexander Smith)

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May 24 (Reuters) - Reliance Chemotex Industries Ltd RLCH.NS:

• RELIANCE CHEMOTEX INDUSTRIES DIVIDEND 1 RUPEEPER SHARE

Source text for Eikon: ID:nNSEbw414t

Further company coverage: RLCH.NS

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** India's blue-chip indexes, Nifty 50 .NSEI and BSE Sensex .BSESN gained nearly 0.7% each, powered by financials and energy stocks, while realty index extends record rally

** Bajaj Finance BJFN.NS up 4%, IndusInd Bank INBK.NS up 3% and Bajaj Finserv BJFS.NS up 1.4% - among top gainers on Nifty index

** BJFN, INBK and BJFS gains aided by strong Oct-Dec quarterly growth updates

** Reliance Industries RELI.NS rises ~1%, top gainer on Nifty Energy index .NIFTYENR, which is up 1.5%

** Power producer NTPC NTPC.NS second top gainer in NIFTYENR, up 4.5% on $19.20 bln investment plans in Gujarat state

** Nifty Realty index .NIFTYREAL extends record-breaking rally for fourth straight session, up 5.7%, on strong sales momentum

** Sobha SOBH.NS up 12.6% to a record 832.7 rupees, Godrej Properties GODR.NS up 8.6%, highest since Nov. 2021

** SOBH and GODR are top gainers on NIFTYREAL

(Reporting by Manvi Pant in Bengaluru)

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Nov 9 (Reuters) - Reliance Chemotex Industries Ltd RLCH.NS:

• INDIA'S RELIANCE CHEMOTEX INDUSTRIES SEPT-QUARTER NET PROFIT 4.6 MILLION RUPEES VERSUS 33.2 MILLION RUPEES

• RELIANCE CHEMOTEX INDUSTRIES SEPT-QUARTER REVENUE FROM OPERATIONS 894 MILLION RUPEES VERSUS 925.7 MILLION RUPEES

Source text for Eikon: ID:nBSE7zq8kM

Further company coverage: RLCH.NS

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May 26 (Reuters) - Reliance Chemotex Industries Ltd RLCH.NS:

• DIVIDEND 2.5 RUPEES PER SHARE

• RE-APPOINTS SANJIV SHROFF AS MD

• MARCH-QUARTER NET PROFIT 27.7 MILLION RUPEES VERSUS PROFIT 63.7 MILLION RUPEES

• MARCH-QUARTER REVENUE FROM OPERATIONS 796.8 MILLION RUPEES VERSUS 1.04 BILLION RUPEES

Source text for Eikon: ID:nBSE1k6HsR

Further company coverage: RLCH.NS

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