The board of Reliance Industries Ltd on Thursday approved issuing 1:1 bonus shares -- the first bonus issue in seven years. Reliance, the nation's most valuable company, had last issued bonus shares in September 2017.
Prime Minister Narendra Modi addressed the nation on Independence Day, focusing on economic growth, self-reliance, and national security. He emphasized manufacturing quality products at affordable prices, supporting farmers, and combating terrorism and infiltration.
From the Sensex pack, Bajaj Finserv, Larsen & Toubro, Bajaj Finance, HDFC Bank, Bharat Electronics and Kotak Mahindra Bank were among the major laggards. However, Tata Steel, Asian Paints, UltraTech Cement, and Trent were the biggest gainers.
'If you align your ambition with India's rise, the peak of your careers will unfold alongside the peak of India's power.'
Stocks of brokerages and market infrastructure institutions (MIIs) witnessed selling pressure after the Securities and Exchange Board of India's (Sebi's) crackdown on proprietary trading firm Jane Street. The weakness was attributed to concerns that debarment of the US firm - a prominent player in the futures and options (F&O) segment - will lead to a further decline in volumes, which are already down over 30 per cent from the peak.
Glass facades and air-conditioned enclaves are giving way to spaces that breathe -- homes that reflect a deeper connection to nature, heritage, and well-being.
Fast-moving consumer goods (FMCG) companies are expected to witness pressure on volumes in the October-December quarter. However, price hikes will help push up revenues, said brokerages.For India's largest engineering firm, Larsen and Toubro (L&T), the analysts expect a 20 per cent growth in consolidated revenue, and an 8.1 per cent core business Ebitda margin, up 40 bps from a year ago.
Mauritius-based Hinduja group firm IndusInd International Holdings (IIHL) has informed the administrator of Reliance Capital that it is ready with its equity contribution of Rs 2,750 crore in cash to acquire the bankrupt firm, but it wants certain conditions to be met in accordance with the resolution plan before transferring the amount. IIHL has also filed an application with the Mumbai Bench of the National Company Law Tribunal (NCLT), seeking directions for the administrator and the committee of creditors (CoC) to complete all pending activities to close the transaction and not let the lenders invoke the bank guarantees provided by the firm earlier.
Among Sensex firms, Eternal, Infosys, Tata Consultancy Services, Tech Mahindra, Reliance Industries, Asian Paints, HCL Tech and Adani Ports were the laggards. Power Grid, Bajaj Finance, NTPC, State Bank of India and IndusInd Bank were among the gainers.
From the Sensex firms, Reliance Industries, Tech Mahindra, Eternal, HCL Tech, Infosys, IndusInd Bank, Tata Consultancy Services and Bajaj Finserv were the biggest gainers. In contrast, UltraTech Cement, Sun Pharma, Power Grid, NTPC, Kotak Mahindra Bank and Mahindra & Mahindra were among the laggards.
Mukesh Ambani-led Reliance Industries Ltd (RIL) plans to invest Rs 75,000 crore ($9 billion) each into its new energy business and petrochemical expansion, according to a company presentation. In its FY25 result statement, Ambani said the company has laid a strong foundation for its projects in renewable energy and battery operations. "In the coming quarters, we will see the transition of this business from incubation to operationalisation.
Commerce and Industry Minister Piyush Goyal on Thursday asked the Indian startup community to shift their focus from grocery delivery and ice cream making to to high tech sector like semiconductor, machine learning, robotics, and artificial intelligence. He also said there is a need for more Indian investors into the startup ecosystem.
Amazon will invest more than Rs 2,000 crore (about $233 million) in India in 2025 as it strengthens its logistics and safety standards, said the ecommerce company on Thursday.
The Quad grouping has called for bringing the perpetrators, organisers and financiers of the Pahalgam terror attack to justice without any delay and urged UN member nations to extend cooperation for it.
'Unless we consistently show up with the right cars, at the right time, priced fairly, we risk becoming irrelevant very quickly.'
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
Sun Pharma, Tata Steel, State Bank of India, Axis Bank, Tata Motors, Larsen & Toubro and ICICI Bank were also among the Sensex gainers. HCL Tech, UltraTech Cement, Nestle and Hindustan Unilever were among the laggards.
Was it complacency or a case of easing off after securing qualification?
Reliance Group chairman Anil Ambani is reviewing "appropriate" options after the Securities and Exchange Board of India (Sebi) banned him from the stock markets and imposed a Rs 25-crore fine for alleged fund diversion from Reliance Home Finance (RHFL), a former subsidiary of Reliance Capital. In a statement, a spokesperson for Ambani said he had resigned from the boards of Reliance Infrastructure and Reliance Power pursuant to the Sebi interim order dated February 11, 2022.
From the Sensex pack, Bharti Airtel, Titan, Tata Consultancy Services, Hindustan Unilever, Infosys, Nestle, Reliance Industries, Mahindra & Mahindra, HDFC Bank and Tata Motors were the biggest gainers. However, IndusInd Bank, Bajaj Finance and UltraTech Cement were the laggards.
'And this will persist given the two-and-a-half-front threat we face.'
Mauritius-based IndusInd International Holdings and other Hinduja group entities are expected to make payments worth Rs 9,661 crore for the acquisition of bankrupt Reliance Capital (RCap) only after getting all the legal and regulatory clearances, including from the Supreme Court, thus delaying the closure of the transaction. A source close to the development said that according to the National Company Law Tribunal (NCLT) order dated February 27, the payment for the acquisition was to be made within 90 days from the NCLT's approval of the resolution plan and after receiving all legal and regulatory clearances.
Weighed down by the oil-to-chemicals (O2C) business, Reliance Industries (RIL) results for the April-June quarter (Q1) of 2024-25 (FY25) missed Street estimates. A 14 per cent fall in the O2C segment's operating profit compared to the year-ago quarter and a 22 per cent sequential decline pulled down the consolidated performance. The O2C segment accounts for a third of the overall operating profit and about 60 per cent of the attributable consolidated profit.
Ahmedabad-based Torrent Group has completed the acquisition of a majority 67 percent stake in Indian Premier League (IPL) franchise Gujarat Titans.
While GBP 50 million is earmarked for grassroots and recreational cricket, the 18 English county teams will get a share of GBP 470 million with larger pie allocated for those clubs that don't own a 'Hundred Franchise'.
To enable Indian banks and financial institutions to develop an aircraft-leasing ecosystem at GIFT City, the Ministry of Civil Aviation has sought support from the Ministry of Finance. It has also raised concern over slow progress in developing aircraft leasing in India.
India's biggest telecom players, Bharti Airtel and Reliance Industries-backed Jio Platforms, will soon bring billionaire Elon Musk-led SpaceX's Starlink satellite services to India. According to analysts, the move could boost India's tele density, especially in the rural areas, and may be an opportunity for investors to add the two stocks on dips for long-term gains
Markets investors became richer by Rs 27.10 lakh crore as the BSE benchmark Sensex continued to rally for the sixth trading day, surging nearly 6 per cent during this period. On Monday, the 30-share BSE bellwether gauge jumped 1,078.87 points or 1.40 per cent to settle at an over six-week high of 77,984.38. During the day, the benchmark zoomed 1,201.72 points or 1.56 per cent to 78,107.23.
The cumulative wealth of 284 Indian billionaires is a third of the country's GDP, a report said on Thursday.
Ghosh, who led the ramping up of German insurer Allianz's Indian insurance ventures, has assumed charge as Reliance Capital CEO from today, the company said. He would report to Reliance Capital Vice Chairman Amitabh Jhunjhunwala. Reliance Capital has also crossed the 14 million customer-mark across all its businesses, according to industry sources.
Chairman Arun Dhumal said they are considering expanding IPL to a full home-and-away format with 94 matches from 2028 onwards.
From the Sensex pack, Reliance Industries, Bajaj Finserv, HDFC Bank, Adani Ports, Maruti Suzuki India, Axis Bank, Hindustan Unilever, Sun Pharmaceuticals and Asian Paints were among the laggards. Reliance Industries fell the most by 2.38 per cent to close at Rs 1,171.10 apiece.
The ATAGS has a range of 35-45 kilometres, depending on the ammunition used, and achieved a 47-km firing range during trials.
India now has 284 billionaires, 13 more than last year, maintaining its position as the third-largest dollar-billionaire hub globally, after the US and China.
The five largest exporters of major arms in 2020-2024 were the US (43 per cent), France (9.6 per cent), Russia (7.8 per cent), China (5.9 per cent), and Germany (5.6 per cent).
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Brokerages expect a further slowdown in Indian firms' revenue and earnings growth in Q4FY25, following low single-digit growth in the preceding three quarters, as factors like weak consumer demand and credit growth linger on.
The planned deal will reduce Reliance Capital's stake in Reliance Life Insurance to 51 per cent from 74 per cent.
Lenders have postponed the second auction to sell bankrupt Reliance Capital's assets by a week to April 11, even as the Torrent group, the highest bidder in the first round, pursues litigation in the Supreme Court. Lenders are expecting the Hinduja group and Torrent to participate in the second auction and maximise the value of the assets. American financial services major, Oakteee may also join the race, said a source.
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