Latest news with #RelianceIndustries
India.com
a day ago
- Automotive
- India.com
Mukesh Ambani plans to buy a big British company for Rs 83000 crore, company is..., bidding to start from...
British energy giant BP is planning to sell its lubricant business, Castrol. According to a report by Bloomberg, BP has already started the process to find a buyer. Castrol is known for making industrial and automotive lubricants and has a strong global presence. As per the report, several large business groups and investment firms have shown interest in buying Castrol and among them is Reliance Industries Limited, owned by billionaire Mukesh Ambani. Other major investment companies like Apollo Global Management and Lone Star Funds are also preparing to take part in the deal. Citing sources, the report said the potential deal for Castrol could be worth between USD 8-10 billion (approximately Rs 66,400 crore to Rs 83,000 crore), adding that initial bids are expected to begin in the coming few weeks, and it is likely that several companies may place bids together. Why is BP selling Castrol? BP is selling Castrol as part of its plan to reduce debt. Back in February, the company announced it would sell some of its assets to raise around USD 20 billion by 2027. The sale of Castrol is part of that strategy. According to reports, BP has already shared early details about the sale with potential buyers, including big names like Brookfield Asset Management and Stonepeak Partners. The deal could fetch BP anywhere between USD 8 to USD 10 billion. The sale process is still in its early stages, and initial bids are expected in the coming weeks. So far, there's no final decision or confirmed price. There's also talk that Saudi Aramco, the world's largest energy company, might join the bidding. In March, it was reported that Aramco was considering an offer. Some buyers may even team up to make a joint bid. What makes Castrol valuable? Castrol is well known for producing lubricants for cars and industrial use. In recent years, it has also been developing liquid cooling technology for AI data centers, a field that's gaining a lot of attention as artificial intelligence grows. Reliance Industries other acquisition Mukesh Ambani's Reliance Industries is also known to have acquired assets in the UK, including the Stoke Park luxury hotel and the toy retailer Hamleys. Reliance Industries is a global conglomerate with diverse interests including petroleum refining, petrochemicals, and retail.
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Business Standard
a day ago
- Business
- Business Standard
Bullish Bets: RIL, Dixon, 10 other stocks form 'Golden Cross'; check list
Technically, the Golden Cross formation is considered as a positive development for the stock. Here's a detailed list of 12 Nifty 500 stocks with Golden Cross formation on May 30, 2025. Listen to This Article Amid the on-going pullback in the market, with the broader Nifty 500 index seeing a 17.3 per cent rally from a low of 19,520 hit on April 7, several stocks too have managed to log smart gains. On Friday, while the benchmark Nifty 60 and the broader - Nifty 500 indices consolidated in trades, a total of 12 out of the Nifty 500 stocks, including Reliance Industries, witnessed formation of a 'Golden Cross' also commonly known as 'Golden Crossover' on the daily technical charts. Technically, Golden Crossover is considered as a positive development, as the short-term (50-Day) moving
Business Times
2 days ago
- Business
- Business Times
AI to send Asia's data centre spending and power needs up; Morgan Stanley picks the winners
[SINGAPORE] Data centre investments in Asia will likely double to US$200 billion by 2030, as the rising use of artificial intelligence (AI) will powers the demand for digital infrastructure and electricity, say Morgan Stanley analysts. In a report on Monday (May 26), the bank said the surge in capital expenditure is set to tighten regional power markets far sooner than previously expected. The analysts noted that power consumption across Asia is outpacing even the bullish forecasts, on the back of broader AI adoption, reshoring of supply chains, and a rise in advanced manufacturing. Morgan Stanley has thus raised its power-demand growth forecast by 30 basis points through 2030 – its second upward revision this year. Key markets such as China, Japan, Malaysia and Thailand are experiencing the sharpest growth; their data centres alone are expected to consume 100 gigawatts (GW) of electricity by 2030, accounting for a sixth of Asia's incremental power demand. Undervalued power-chain opportunities emerge In 2024, data centres accounted for around 1.5 per cent of the world's electricity consumption; power usage has grown at a 12 per cent compound annual rate since 2017. As AI applications broaden, this rise is expected to persist – bringing with it pressure on power infrastructure. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Morgan Stanley's analysts emphasised that natural gas will play a central role in powering AI, working in tandem with renewables. But they argue that markets have yet to fully price in the beneficiaries of the 'time-to-power' dynamic – given that grid operators and natural gas-fired plants can provide a reliable, dispatchable supply of electricity on shorter timeframes. The Morgan Stanley report also identified second-order beneficiaries, such as gas pipeline suppliers, amid rising US gas exports and regional energy needs. Infrastructure firms focused on clean-energy integration, grid modernisation, advanced cooling systems and battery storage are also expected to play increasingly critical roles. Notably, 2024 marked the return of pricing power for equipment manufacturers – a trend Morgan Stanley expects to extend downstream to generators, transmission operators and midstream providers. Asia powering AI-exposed stocks Morgan Stanley analysts have issued a string of 'overweight' calls on stocks expected to benefit from these trends in power demand. Equity analyst Mayank Maheshwari at Morgan Stanley has placed an 'overweight' call on integrated-energy provider Reliance Industries in India, and added a target price of 1,617 rupees, an upside of 13.3 per cent from its last close. He has also made an 'overweight' call on Malaysian grid operator Tenaga Nasional with a target price of RM16.30, a 16.4 per cent upside from its last market close. Single grid operators benefit from doubling power demand, he said. Hybrid power operators are likely to also gain from increased clean-power demand from data centres; analysts have placed an 'overweight' call on such players, including companies such as China Resources Power. But Maheshwari believes that the demand faced by Gulf Development will come from integrated data centres and its generation portfolio. He has raised the Thai company's target price by 43.8 per cent from its last close to 69 baht. Morgan Stanley analyst Eva Hou has placed an 'overweight' call on Chinese power grid equipment manufacturer Nari Technology, given that growth in demand for power demand requires enhanced grid capacity, thus favouring companies in this niche. Japanese gas turbine operator Mitsubishi Heavy Industries was also given an 'overweight' call. Morgan Stanley analyst Yoshinao Ibara projected that higher demand for gas baseloads would drive turbine sales. However, he lowered Mitsubishi's target price by 6.5 per cent to 3,000 yen.
Time of India
2 days ago
- Business
- Time of India
Reliance Industries, Aramco among suitors for Castrol business
Photo/Agencies BP's Castrol lubricant business is attracting interest from energy companies including Reliance Industries and buyout firms, such as Apollo Global and Lone Star Funds, people with knowledge of the matter said. BP has sent out initial information to other potential bidders for the unit, including Brookfield Asset Management and Stonepeak Partners, the people said. The business could fetch $8-10 billion. The suitors would join Saudi Aramco in considering bids for all or part of the business. The process is still in the early stages, with initial bids expected in several weeks, so price and outcome remain open.. Some suitors could team up as well. Representatives for BP, Apollo, Lone Star, Brookfield and Stonepeak declined to comment, while a spokesperson for Reliance wasn't immediately available for comment. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
3 days ago
- Business
- Mint
Castrol India share price rises 5% as news reports suggest large corporates may be eyeing the BP's lubricant business
Stock Market Today: Castrol India share price gained more than 5% during the morning trades on Thursday as news reports suggested large corporates such as Reliance Industries, Aramco may be eyeing the BP's lubricant business As per Reuters News report dated 28 May 2025, the lubricant business of BP has attracted interest from Reliance Industries and others Reuters report said that 'BP's (BP PLC) Castrol lubricants business is attracting interest from companies such as India's Reliance Industries , Bloomberg News reported on Wednesday, citing people familiar with the matter'. The business has also attracted interest from buyout firms Apollo Global Management and Lone Star Funds, the Bloomberg report said, adding that a deal could fetch between $8 billion and $10 billion, suggested Reuters. The news flow around corporates showing interest in BP's Lubricants business has remained strong for a few months now. On 6 March'2025, PTI had attributed gains for Shares of lubes maker Castrol India, a unit of BP, to news flow suggesting that Saudi Arabia's state-owned oil giant Aramco is considering taking ownership of BP's lubricant brand. As the developments around BP's Lubricant business will be watched for, in the meanwhile analyst had maintained positive views on Sactrol India post Q4 results Motilal Oswal Financial Services Ltd post Q4 results had said that Castrol India has always enjoyed a strong brand legacy, and we are confident in its ability to maintain profitability through an improved product mix, stringent cost-control measures, and the launch of advanced products that command better realization. They had said that their Ebitda margin assumptions are already within the company's guided range of 22-25%. MOFSL valued the stock at 25 times Price to earnings and arrive at a target price of ₹ 250 reiterating their BUY rating. Castrol India share price that opened at ₹ 208.75 and at the time of opening was slightly higher compared to the previous days closing price of ₹ 206.45 . The Castrol India share price however gained further to intraday highs of ₹ 220.50, which marked gains of more than 5% during the Intraday trades for Castrol India share price. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions
