Wednesday, December 18

Tag: Reliance Industries

Reliance Industries and earnings optimism propel markets to new peaks | News on Markets
8Apr By adminNo Comments
Business

Reliance Industries and earnings optimism propel markets to new peaks | News on Markets

Gains in Reliance Industries (RIL), automotive (auto) majors, and earnings optimism propelled the benchmark Sensex to new highs for a third consecutive day. Meanwhile, the Nifty finised at a new high for a second time in three days.  The S&P BSE Sensex ended the session at 74,743, marking a gain of 494 points, or 0.7 per cent, while the National Stock Exchange Nifty concluded at 22,666, up by 153 points, or 0.7 per cent. RIL, which saw a rise of 1.75 per cent, contributed the most to the gains in both the Sensex and Nifty, followed by Larsen & Toubro, which increased by 1.9 per cent, and Mahindra & Mahindra, which rose by 3.2 per cent. Analysts attribute the bullish sentiment in domestic equity markets to robust purchasing managers’ index numbers an...
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Mcap of 8 of top-10 most valued firms jump Rs 1.29 lakh crore; HDFC Bank biggest gainer
31Dec By adminNo Comments
Business

Mcap of 8 of top-10 most valued firms jump Rs 1.29 lakh crore; HDFC Bank biggest gainer

NEW DELHI: The combined market valuation of eight of the top-10 most valued firms jumped Rs 1,29,899.22 crore in a holiday-shortened last week, where equity benchmark indices recorded a sharp rally.Last week, the BSE benchmark jumped 1,133.3 points or 1.59 per cent. The index reached its all-time high of 72,484.34 on December 28.Equity markets were closed on Monday for Christmas.While Reliance Industries, HDFC Bank, ICICI Bank, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS) and Infosys were the laggards.HDFC Bank, LIC, Bharti Airtel and Hindustan Unilever were the biggest winners from the top-10 pack.The market valuation of HDFC Bank jumped Rs 29,828.84 crore to Rs 12,97,972.04 cro...
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Disney-Reliance entertainment biz deal may be beset with antitrust issues
16Dec By adminNo Comments
Business

Disney-Reliance entertainment biz deal may be beset with antitrust issues

Elara Capital estimates Disney and Viacom18 together will have the biggest share of the TV ads market at 43% while Zee-Sony would have 25%, making it difficult for others to compete A merger of Walt Disney's India unit and billionaire Mukesh Ambani's media business would create an entertainment powerhouse in India, but lawyers say any deal would draw intense antitrust scrutiny and assets would likely need to be shed. Disney and India's Reliance, which each have a major streaming service as well as 120 TV channels between them, are looking at merging into an entity in which Ambani's group would likely have a majority stake, sources said this week. In particular, a deal could benefit Disney whose Hotstar streaming app has been loss-making. CEO Bob Iger said last month th...
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Top wealth creating stocks in India: Reliance tops biggest wealth creator list; Adani Enterprises bags first spot as all-round stock
14Dec By adminNo Comments
Business

Top wealth creating stocks in India: Reliance tops biggest wealth creator list; Adani Enterprises bags first spot as all-round stock

ICICI Bank, Adani Enterprises, Varun Beverages, Capri Global and Grindwell Norton have been identified as consistent wealth creators during the period of 2018-2023, according to the Motilal Oswal Wealth Creation Study. Reliance Industries, TCS, ICICI Bank, Infosys, and Bharti Airtel were also recognized as noteworthy wealth creators during this period.Reliance Industries has secured its fifth consecutive spot as the largest wealth creator from 2018 to 2023, marking its tenth overall No.1 position in the last 17 five-year study periods.Top 10 Biggest Wealth Creators 2018-23One standout performer was Lloyds Metals, which emerged as the fastest wealth creator with a compounded return of 79% on their stock during this period. An investment of Rs 1 million in the top 10 Fastest Wealth Creators...
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Mukesh Ambani’s Reliance Industries considers record $1.8 billion bond sale
2Nov By adminNo Comments
Business

Mukesh Ambani’s Reliance Industries considers record $1.8 billion bond sale

Indian tycoon Mukesh Ambani’s Reliance Industries Ltd is considering raising as much as 150 billion rupees ($1.8 billion) via the sale of local-currency bonds, according to people familiar with the matter who asked not to be identified because the matter is private.The transaction, if it concludes, would be the biggest rupee sale ever for Reliance, Bloomberg-compiled data show.It would also be the conglomerate’s first domestic bond since 2020, according to the statistics.A representative for the firm didn’t have any immediate comment when contacted late on Wednesday. Reliance Industries is India’s largest company by market value, and its business interests range from petrochemicals refining to wireless communication services and consumer goods. It is expanding rapidly into 5G and venturin...
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Mukesh Ambani receives death threat, email demands Rs 20 crore
28Oct By adminNo Comments
Business

Mukesh Ambani receives death threat, email demands Rs 20 crore

Reliance Industries Chairman Mukesh Ambani received death threats via email threatening to kill him if he failed to pay Rs 20 crores. According to the Mumbai police, it was written in the threatening email that "If you don't give us 20 crore rupees, we will kill you, we have the best shooters in India." After receiving the email, based on the complaint of Mukesh Ambani's security in-charge, Gamdevi Police of Mumbai registered a case against an unknown person under sections 387 and 506 (2) of IPC and started the investigation.First Published: Oct 28 2023 | 10:30 AM IST
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IiAS tells investors to vote against Anant’s appointment on RIL board
10Oct By adminNo Comments
Business

IiAS tells investors to vote against Anant’s appointment on RIL board

Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries’ (RIL’s) board, stating his age as the reason. The firm has, however, given its green light to the appointment of Anant’s elder siblings — Akash and Isha. In its recommendation note, IiAS said, “At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines.” Ambani’s two elder children — Akash and Isha — are 31 years of age. According to IiAS voting guidelines, it will recommend voting for the appointment of any director (among other criteria) unless the director lacks adequate experience. That is, less than 10 years of relevant work experience or is less tha...
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Mukesh Ambani’s Reliance Retail Ventures to raise $598 million from ADIA
6Oct By adminNo Comments
Business

Mukesh Ambani’s Reliance Retail Ventures to raise $598 million from ADIA

Indian billionaire Mukesh Ambani's Reliance Retail Ventures said on Friday Abu Dhabi Investment Authority would invest 49.67 billion rupees ($597.58 million) in the company at a valuation of $100.8 billion.   The investment by ADIA will translate into a stake of 0.59% in the company, the retail unit of oil-to-retail conglomerate Reliance Industries said in a regulatory filing.   Reliance Retail, which has more than 18,000 stores and competes with Amazon and Walmart's Flipkart, has attracted investments from private equity firm KKR & Co and Qatar Investment Authority (QIA) in recent months.   Reuters had reported last month that Reliance was in advanced talks with global investors to raise around $2.5 billion ahead of a potential stock mark...
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8 of top 10 firms lose Rs 2.28 lakh crore in mcap; HDFC Bank, Reliance biggest laggards
24Sep By adminNo Comments
Business

8 of top 10 firms lose Rs 2.28 lakh crore in mcap; HDFC Bank, Reliance biggest laggards

NEW DELHI: The combined market valuation of eight of the 10 most valued firms plunged by Rs 2,28,690.56 crore in a holiday-shortened last week, with HDFC Bank and Reliance Industries taking the biggest hit, amid an overall weak trend in equities.Last week, the BSE benchmark fell 1,829.48 points or 2.69 per cent, and the Nifty declined 518.1 points or 2.56 per cent.Equity markets were closed on Tuesday on account of Ganesh Chaturthi.From the top-10 pack, Reliance Industries, HDFC Bank, ICICI Bank, Infosys, ITC, State Bank of India, Bharti Airtel and Bajaj Finance were the laggards while Tata Consultancy Services (TCS) and Hindustan Unilever were the gainers.The market valuation of HDFC Bank plummeted by Rs 99,835.27 crore to Rs 11,59,154.60 crore. Shares of the company fell by nearly 8 per...
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Reliance Industries, Tata group partner Nvidia for India AI infrastructure
8Sep By adminNo Comments
Business

Reliance Industries, Tata group partner Nvidia for India AI infrastructure

The battle to dominate the artificial intelligence (AI) space seems to be intensifying, with Reliance Industries Ltd (RIL) and the Tata group, two of the largest conglomerates in India, entering into separate partnerships with US technology giant Nvidia to build AI supercomputers.   Jio Platforms, RIL’s digital services arm, announced a partnership with Nvidia on Friday to build a state-of-the-art cloud-based AI computing infrastructure. Nvidia will provide Jio with end-to-end AI supercomputer technologies and frameworks for building the most advanced AI models, Jio said in a statement.   Nvidia is also tying up with the Tata group to deliver AI computing infrastructure and platforms for developing AI solutions. The collaboration aims to ...
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