Reliance Industries Ltd

Shareholders of Reliance elected all proposed board candidates to serve until the next annual general meeting and voted on an advisory basis in favor of the executive compensation package. KPMG was confirmed as the independent auditor for 2026. A shareholder proposal to require the removal of directors not elected by a majority was rejected. The stock is trading near its 52-week high; market capitalization is about $18.39 billion. » More on de.investing.com

Reliance Industries will spin off Jio Platforms in a flotation expected to value the telecoms arm at $130bn–150bn and raise about $3.5bn. The IPO caps a decade of capital-intensive investments that have reshaped Reliance from an oil-and-chemicals firm into a technology-focused conglomerate. The move aims to accelerate the company’s push to become a major tech player in India. » More on economist.com

Zee Entertainment filed a lawsuit in New Delhi against the Reliance‑Disney joint venture, alleging its streaming platform and TV channels repeatedly used Zee’s music without authorization after license agreements expired. Zee is seeking US$3 million in damages and an injunction to stop further use of its works. In the 1,800‑page complaint, Zee says the music was used at least 50 times; separately, an arbitration proceeding is ongoing in which Reliance is seeking US$1 billion from Zee. » More on de.investing.com

Reliance Ind is operating its alkylation unit at minimal capacity because of the Iran war and has reduced exports of the gasoline blending product. Instead, feedstocks are being diverted into LPG production, which the company has more than tripled versus pre-war levels. Alkylates had so far been exported mainly to the US. » More on de.investing.com

President Donald Trump announced that Reliance Ind will invest $300 billion to build the first new US oil refinery in 50 years. The facility in Brownsville, Texas, is to be developed by America First Refining, will process exclusively US shale oil and, according to Trump, will be the "cleanest refinery in the world." According to the president, the project strengthens national security, increases domestic energy production and delivers significant economic stimulus. » More on de.investing.com