A bench headed by Chief Justice P Sathasivam sought response from the Centre and RIL on a PIL filed by Communist Party of India Member of Parliament Gurudas Dasgupta who alleged that no due diligence was done by the government while increasing the price of natural gas.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
The rupee resumed higher at 60.13 per dollar as against the last closing level of 60.20 at the Interbank Foreign Exchange market, and hovered in a range of 60.07 and 60.18 per dollar before quoting at 60.08 at 1000 hours.
10 analysts estimated RIL's consolidated net profit at Rs 11,256 crore and nine analysts estimated revenue at Rs 1.5 trillion.
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Privatisation of BPCL, which was dubbed India's biggest ever, has been stalled with just one bidder left in the fray after two others walked out over issues such as lack of clarity in fuel pricing, a top source said. The government had planned to sell its entire 52.98 per cent stake in Bharat Petroleum Corporation Ltd (BPCL) and invited Expression of Interest from bidders in March 2020. At least three bids came in by November 2020 but only one remains now after the others withdrew from the race.
In a range-bound trading, the BSE benchmark Sensex ended a shade higher by 1.57 points in the special 90-minute trading today as funds refrained from making any major commitments in the absence of global cues.
Indian Air Force chief Air Chief Marshal RKS Bhadauria flew a Tejas single-seater light combat aircraft MK1 FOC fighter during his visit to IAF and flight test establishments and facilities of Defence Research and Development Organisation (DRDO) and Hindustan Aeronautics Limited (HAL) in Bengaluru.
The wedding, which is billed as the India Inc's most expensive yet, was held at Antilla.
It emerges that Vi has probably offered good data quality despite being short on spectrum and infrastructure due to its stretched finances. Did the two companies that merged face the heat due to price wars? Probably. Did the government's tough stance in demanding its "due" share of telecom revenues hurt the company? Certainly!
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Regulators will need to allow the model to evolve to allow profits to flow, says Una Gulani.
Analysts said with more power sector companies referred to the NCLT by banks, large companies would be at an advantage.
Ajit Mishra, vice president, Research, Religare Broking, answers queries on how to invest in stocks.
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
With an epic battle of billionaires for supremacy in one of the world's most prolific markets and a pandemic-propelled surge in online shopping in the background, India's nearly trillion-dollar retail market is hoping to touch 85 per cent of the pre-COVID business in the first half of the New Year. In a year when the COVID-19 carnage ripped apart the retail business, circa 2020 will best go down for the unravelling of the war between Jeff Bezos, the world's wealthiest man, and richest Indian Mukesh Ambani for pre-eminence in the booming market that is estimated to reach $1.3 trillion by 2025. It all started with Ambani's Reliance Industries agreeing in August to buy assets of the nation's second-largest retailer for Rs 24,713 crore, just a year after Bezos' Amazon purchased an indirect stake in the indebted Future Retail.
Some of India's biggest employers are testing for antibodies to either comply with regulatory norms or gauge the effectiveness of precautionary measures.
The company is looking to invest more than $3 bn over the next three years.
India, the world's fourth-biggest oil consumer, recently offered Saudi Aramco a stake in refineries and petrochemical projects.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
While Mukesh Ambani-led RIL posted a 108 per cent YoY rise in profit after tax for Q4FY21 at Rs 13,227 crore, it fell short of Bloomberg estimate of Rs 13,704 crore.
It, however, remains to be seen how much money Softbank actually puts in, what the implied equity valuation is and if the e-commerce venture is included in the Jio entity.
Hails country's recent digital highways and predicted India to become digital content capital of world.
Unlike RIL, the Adani group has not yet brought in any big stakeholders to refinance debt or expand.
The Central Bureau of Investigation on Wednesday registered eight more preliminary enquiries in connection with issues related to intercepted phone calls of lobbyist Niira Radia against former Jharkhand Chief Minister Madhu Koda, Reliance Industries Limited and others in separate cases.
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
Analysts cut upstream firms' FY15 earnings estimates, while raising those for GAIL and Gujarat Gas.
The top losers from the Sensex pack are ONGC, Coal India, Vedanta, Reliance Inds and L&T.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Investors' wealth zoomed by Rs 5,78,634.72 crore in two days of intense market rally, with participants adding Rs 2,74,908.83 crore to their fortune on Tuesday. Over the past two sessions, the BSE gauge Sensex has gained about 1,461 points or 2.99 per cent. The benchmark rallied 612.60 points or 1.24 per cent to settle above the 50,000-mark on Tuesday. Following the two-day massive rallies, the market capitalisation of BSE-listed companies jumped by Rs 5,78,634.72 crore to a record Rs 2,16,39,367.91 crore on Tuesday.
Stressing on the 'Make in India' initiative, a Ministry of Defence appointed committee has recommended enhanced private sector involvement by granting manufacturers tax and import concessions.
In what is in effect a deposit to be paid into court pending a full trial in the case, Judge David Waksman has set a six-week timeline for Anil to pay $100 million to three Chinese banks as he concluded that he did not accept Ambani's defence that his net worth was nearly zero or that his family would not step in to assist him when "push came to shove".
With the dizzying rise in the number of Covid-19 cases in the country, India Inc has transitioned from a wait-and-watch policy to full-on emergency mode, bringing back remote and flexi work, stringent safety protocols, and allowing only essential travel. Companies - especially in metros like Delhi, Mumbai and Kolkata - that had adopted a hybrid work model during the last few months when the caseload remained low, are either switching back entirely to work-from-home (WFH), or calling skeletal staff to office on select days. Take the case of cigarettes-to-hotels major, ITC, which had been on a hybrid work model over the last few months.
The meeting will focus on how to make the crisis an opportunity for India.
Sensex rises, Nifty ends at record high; RIL shares rally.
Talking corporate heads are a barometer of the business community's engagement with the economy. If they have nothing to say now there should be cause for concern.
According to software company Mavernir, the new virtualised networks would lead to a saving of 40 per cent in capex and 34 per cent in terms of lower operations cost for operators.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
