Shares of Reliance Industries Ltd. gained as much as 6.2%, the most in nearly two months, to reach their level before the company scrapped a deal to sell Saudi Arabian Oil Co. a stake in its oil-to-chemicals unit.
The shares fell 4.9% through Wednesday from Thursday’s close after the company ended a plan announced more than two years ago to sell a 20% stake in the unit to Aramco.
Bharti Airtel Affirmed At BBB- By Fitch
Bharti Airtel Ltd.’s long-term issuer default rating was affirmed by Fitch at BBB-.
- Senior Unsecured Debt Rating was affirmed by Fitch at BBB-
- Outlook remains negative
JSW Energy Board Approves Re-Organisation Of Renewable And Thermal Businesses
The board of JSW Energy Ltd. has approved the re-organisation of its renewable and thermal businesses. All existing and upcoming renewable energy businesses will be housed under JSW Energy Neo Ltd, which will be a wholly owned subsidiary of the company.
“It will streamline renewable portfolio and facilitate fund-raising and unlocking value for shareholders,” the company said in a statement.
The company further said that JSW Neo Energy Ltd. will be the vehicle for JSW Energy to drive the company’s growth plans in renewable energy – across generation, energy storage and green hydrogen. The company’s operational hydro projects (Karcham: 1,091 MW, and Baspa II 300 MW) and all upcoming renewable energy projects will be housed in subsidiaries under JSW Neo Energy.