| REIL will serve as the joint venture vehicle with Facebook Overseas Inc., a wholly owned subsidiary of Meta Platforms Inc., under an amended joint venture agreement. Reliance Intelligence will hold a 70% stake, while Facebook will own 30%. The partners have committed a combined initial investment of about Rs 855 crore to develop, market, and distribute enterprise AI services. Reliance Intelligence has subscribed to 20 lakh equity shares worth Rs 2 crore in REIL as initial capital. The company said no regulatory approvals were required for this incorporation, and the transaction does not qualify as a related-party deal. Meanwhile, on Friday, 24 October 2025, RIL said it is evaluating the implications of recent restrictions imposed by the European Union, United Kingdom, and United States on crude oil imports from Russia and export of refined products to Europe. The company added that it will comply with the EU's latest guidelines on refined product imports and will follow any directives issued by the Indian government. RIL reiterated its commitment to India's energy security and said its operations have always adhered to international sanctions and regulatory frameworks. The company noted that its crude sourcing strategy remains diversified, ensuring stability and reliability in refinery operations to meet both domestic and export requirements, including to Europe. RIL is India's largest private sector company. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services. RIL's consolidated net profit jumped 9.54% to Rs 18,165 crore on 9.94% increase in revenue from operations to Rs 2,58,898 crore in Q2 FY26 over Q2 FY25. Powered by Capital Market - Live News |