Reliance Industries Limited (RIL) has released its Q3 results, which give important signals for the market. The company’s net profit for the quarter stood at ₹18,645 crore, which is a marginal increase of 0.56% year-on-year. At the same time, the total revenue from products and services stood at ₹2.94 lakh crore, registering a strong growth of 10.5%. EBITDA stood at ₹50,932 crore, which shows the strength of Reliance’s diversified business. Jio performed brilliantly, increasing profit by 11.2% to ₹7,629 crore and revenue by 12.7% to ₹37,262 crore. The focus is on future growth through new initiatives in AI and New Energy. RIL shares closed at ₹1,461.

Oil is not just a commodity, but the real accelerator of India’s growth. It is not called Black Gold for nothing, because it runs the engine of the economy. The challenge is that India fulfills more than 85% of its crude oil needs through imports, due to which even a slight rise in prices affects inflation and growth. Meanwhile, a big development has come to light. According to reports, Mukesh Ambani’s Reliance Industries is trying to get approval from the US government to import Venezuelan oil. Reliance is in talks with the US State and Treasury Departments. The move comes at a time when Russian oil’s share is declining. If approved, Venezuela will become a strong option in India’s crude basket. This shows that India is not dependent on oil but is prepared.

India’s big energy company Reliance Industries (RIL) has been accused of stealing gas from ONGC, which is worth about $1.55 billion. Bombay High Court has issued a notice in this case and is considering directing the CBI to conduct a complete investigation. According to the petition, from 2004 to 2013-14, RIL drilled in the KG-D6 block in such a way that gas moved sideways from ONGC’s Northern Block to RIL’s block. The estimated loss is ₹13,000–14,000 crore, plus interest of $174.9 million. Petitioners want criminal charges of theft, fraud and breach of trust to be imposed on RIL and its directors. RIL says that gas is naturally migratory and this is not a new criminal case, but an old civil-arbitration dispute. Energy consultancy D&M also said that gas extraction had taken place, but there is disagreement on the legal interpretation. The court notice does not decide whether RIL is guilty. This is just the initial step—the Court is asking: – Should the CBI conduct a full investigation? – Should FIR be registered? – Should contracts and drilling data be seized? If CBI investigation starts, it can become a big precedent for Corporate India. Market sentiment, RIL shares and policy-making may also be affected.