India's Reliance sees profits jump 28 percent

Analysts on average expected Reliance Industries to post a standalone profit of Rs7,993 crore

Adding further he said, "market capitalization has multiplied from ten crores to over five lakh crores".

Refining margins are a key measure of profitability for the business. Refining and petrochemicals contribute around 90 percent to overall revenue and profit of the company.

Profit on a standalone basis, which only accounts for the company's refining, petrochemicals and oil and gas exploration businesses, rose to 81.96 billion rupees ($1.27 billion) for the three months to June 30, from 75.48 billion rupees a year earlier.

"The listing is a significant wealth creation opportunity for retail investors and will enable them to participate in this high growth and profitable journey", Jain also said.

Ambani also talked about newly-launched Jio and how it impacted. The company said that during Q1FY18, its revenues from organised retail jumped almost 74% to Rs 11,571 crore from Rs 6,666 crore a year earlier.

Reliance Industries' on Thursday announced its earnings with a consolidated profit at Rs. 9,108 crore, partly driven by one-time gain of Rs. 1,087 crore.

Revenue from the media business fell 8.8% to Rs. 321 crore with a negative EBIT of Rs. 41 crore. "We continue to remain upbeat on the stock".

Reliance Retail will open stores in more small cities and towns over the next year under aggressive expansion targets that the Reliance Industries unit has set for itself.

Reliance Jio Infocomm plans to raise Rs. 20,000 crore by way of a rights issue, the company said in a filing.

"The board of directors at its meeting held on July 20, 2017, has decided to make a rights issue of 4 billion, 9% non-cumulative optionally convertible preference shares (OCPS) of Rs. 10 each for cash, at a premium of Rs. 40 per OCPS, aggregating to Rs. 20,0000 crore", it said.

The last time India's largest private sector company gave bonus shares to its shareholders was 12 years ago.

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