The rally in the equity markets in the second half of 2023 has led to a sharp surge in the cutoff for stocks to qualify as largecaps and midcaps. On the latest list put out by the Association of Mutual Funds in India (Amfi), the smallest largecap stock now has a market capitalisation (m-cap) of Rs 67,000 crore, 35 per cent higher than in July 2023. In the case of midcaps, the cutoff has surged 26 per cent to Rs 22,000 crore.
At the same time, seven companies from the coveted list witnessed a decline in their market valuation last week, but their cumulative loss of Rs 37,701.1 crore was less than the total gain made by three firms.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
Among the Sensex firms, Bajaj Finance, JSW Steel, Reliance Industries, Mahindra & Mahindra, ITC, Tata Consultancy Services, Wipro, HDFC Bank, Larsen & Toubro and Bharti Airtel were the major laggards. Sun Pharma, NTPC, State Bank of India, IndusInd Bank and Axis Bank were the major gainers.
In a development that could deliver a setback to Reliance Industries, the Bombay high court on Monday allowed power PSU NTPC to amend its petition, seeking implementation of a gas supply agreement.
Investors' wealth eroded by Rs 6 lakh crore in a single day on Wednesday as the BSE benchmark Sensex tumbled over 790 points. The 30-share BSE Sensex fell by 790.34 points or 1.08 per cent to settle at 72,304.88. During the day, it slumped 872.93 points or 1.19 per cent to 72,222.29.
Global investment management firm Bernstein has pegged the enterprise valuation of Reliance Industries (RIL)'s 85 per cent stake in Reliance Retail at $111 billion, while valuing the Mukesh Ambani-led company's 66.5 per cent stake in telecom and digital platform arm Reliance Jio at $88 billion. Reliance Industries had earlier planned to list both its subsidiaries to unlock value for its shareholders but hadn't fixed any timeline. The report said that Reliance Retail had raised $6 billion by diluting a 10.1 per cent stake, while Jio Platforms raised $20 billion from investors by selling 33 per cent in 2020.
Among the Sensex firms, IndusInd Bank, Power Grid, Tata Motors, Bajaj Finance, NTPC, HDFC Bank, Reliance Industries, Nestle and Kotak Mahindra Bank were the major gainers. Infosys, State Bank of India, Tata Steel, Hindustan Unilever and Titan were the major laggards.
After record fund raising, Reliance Industries now has a strong balance sheet with high liquidity that will support growth plans for its three hyper-growth engines, Jio, Retail and oil-to-chemicals, according to the firm's chairman and managing director Mukesh Ambani. In the company's latest annual report released on Wednesday, he said the company sold minority stakes in Jio Platforms -- the unit that houses its telecom and digital business -- and retail arm for almost Rs 2 lakh crore and raised another Rs 53,124 crore through rights issue.
The escalation in the US-China trade war is expected to help India increase its exports and attract investments from American companies, think tank GTRI said on Friday. He said that last month, the US Senate introduced two bills that could intensify the trade war and have major global economic impacts if passed.
A stake sale of Reliance's real estate portfolio would help it raise anything between $1-5 billion and could be one of the triggers for the company's shares to break out.
The Securities Appellate Tribunal (SAT) on Monday set aside the penalty imposed by Sebi on Reliance Industries Ltd's chairman Mukesh Ambani and two other entities in a case related to alleged manipulative trading in the shares of erstwhile Reliance Petroleum Ltd (RPL) back in November 2007. The ruling has come after all the entities appealed before the tribunal against the order passed by the Securities and Exchange Board of India (Sebi) in January 2021. In January 2021, Sebi imposed a Rs 25 crore fine on Reliance Industries Ltd(RIL), Rs 15 crore on Ambani, who is the company's chairman and managing director, Rs 20 crore on Navi Mumbai SEZ Pvt Ltd and Rs 10 crore on Mumbai SEZ Ltd in RPL case.
The premium mall, Jio World Drive (JWD), is spread across an area of 17.5 acre and it will be Mumbai's first rooftop Jio drive-in Theatre which will be operated by PVR. JWD will house only premium international and Indian brands.
India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine.
The market capitalisation of listed companies on the NSE surpassed $5 trillion (Rs 416.57 trillion) on Thursday on a day when the Nifty 50 index touched an all-time high of 22,993.60. The Nifty 500 index also touched an all-time high of 21,505.25 on Thursday indicating that growth in the equity market is not restricted to only the large capitalised stocks, a statement by NSE said.
From the Sensex pack, NTPC, Tata Motors, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, HDFC Bank, Reliance Industries, Titan, Power Grid and State Bank of India were the major gainers. ITC, UltraTech Cement, Tech Mahindra, Tata Steel, Wipro, Tata Consultancy Services and JSW Steel were among the laggards.
Reliance Industries earned a breather when PSU oil firms revised their requirement of diesel from it to 3.7 million tonnes in 2004-05.
Benchmark indices ended lower on Wednesday, halting their eight days of rally, ahead of the US Federal Reserve's interest rate decision and mixed global market trends. Also, fall in index majors Reliance Industries, Tata Consultancy Services, Infosys and Larsen & Toubro added to the weak trend in equities. The 30-share BSE Sensex declined 161.41 points or 0.26 per cent to settle at 61,193.30.
The Galwan clash occurred six months after the Doklam disengagement and two high-profile meetings. India should not be caught by surprise once again, asserts former foreign secretary Shyam Saran.
Reliance Industries lost its position of the country's most valued company to Tata group firm TCS this afternoon, as the shares of billionaire Mukesh Ambani-led corporate giant fell sharply in a weak market.
Equity benchmark Sensex climbed over 460 points to reclaim the 61,000 mark while the Nifty closed above the 18k level on Friday, propelled by robust buying in index majors Reliance Industries and ITC amid fresh foreign fund inflows. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 463.06 points or 0.76 per cent to settle at 61,112.44. During the day, it rallied 560.08 points or 0.92 per cent to 61,209.46.
While company executives refused to divulge further details, industry sources said that Reliance has earmarked a huge area in the SEZ for the project.
Facing the brunt of farmer's ire over perception of it being a beneficiary of new farm laws, Reliance Industries on Monday said it neither buys foodgrains directly from farmers nor is it in the business of contract farming. In a statement, billionaire Mukesh Ambani's firm said its subsidiary Reliance Jio Infocomm Limited (RJIL) has filed a petition in the Punjab and Haryana high court seeking "the urgent intervention of government authorities to bring a complete stop to the illegal acts of vandalism (of telecom towers) by miscreants." Reliance said it "has nothing whatsoever to do with the three farm laws currently debated in the country, and in no way benefits from them."
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
Awaiting regulatory approvals for its foray into financial services sector, Mukesh Ambani-led Reliance Industries has acquired shares in giants like HDFC, ICICI Bank and Axis Bank as part of long-term 'investments'.
Among the Sensex firms, Tech Mahindra, Tata Motors, Infosys, Wipro, Tata Steel, Tata Consultancy Services, Reliance Industries and Axis Bank were the major gainers. Bajaj Finance, IndusInd Bank and Power Grid were the laggards.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
IndusInd Bank was the top gainer in the Sensex pack, jumping nearly 5 per cent, followed by Bharti Airtel, HCL Tech, Reliance Industries, Titan and Asian Paints.
Benchmark indices ended at fresh lifetime highs on Monday amid foreign fund inflows, a decline in crude oil prices and buying in index major Reliance Industries. Rallying for the fifth day in a row, the 30-share BSE Sensex climbed 211.16 points or 0.34 per cent to settle at 62,504.80, its fresh record closing high. During the day, it jumped 407.76 points or 0.65 per cent to its lifetime intra-day peak of 62,701.40.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Ranveer Singh never said this, and he does not have any relation with any political party, his father said in the complaint.
Siddharth Roy Kapur's RKF aims to raise around $50 million by offering up to a 50 per cent stake in the company.
Among the Sensex firms, Power Grid, UltraTech Cement, Titan, Reliance Industries, Bajaj Finance, Mahindra & Mahindra, ICICI Bank, Tata Consultancy Services, Tech Mahindra, ITC and HDFC Bank were the major laggards. HCL Technologies, IndusInd Bank, Wipro, Nestle, Maruti, Larsen & Toubro and Asian Paints were among the gainers.
Eight of the 10 most valued companies suffered a combined erosion of Rs 2,48,372.97 crore in their market valuation last week in line with a weak broader market trend, with Reliance Industries taking the biggest hit. Last week, Sensex lost 2,041.96 points or 3.72 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, State Bank of India, HDFC and Bharti Airtel were the laggards, Hindustan Unilever Limited and Kotak Mahindra Bank emerged as gainers.
The India wicketkeeper is the first sportsperson to be inducted by the corporate giant.
The Centre has cleared a proposal of deploying 100 Central Industrial Security Force personnel each for Reliance refinery in Jamnagar and for Infosys premises in Bangalore.
Politicians across the political spectrum graced Radhika Merchant and Anant Ambani's wedding ceremonies at the Jio World Convention Centre at the Bandra Kurla Complex in north west Mumbai.
Indian petrochemicals giant Reliance Industries said on Monday it has formed an alliance with DuPont Polyester Technologies for polyester process and product technologies research and development in India.
Reliance Brands Ltd (RBL) on Monday announced forming a 60:40 joint venture with Rahul Mishra brand RM, which will create and own a new brand that would encompass courtier's ready to wear business. The new brand would grow both vertically and horizontally in the fields of accessories, footwear, home, beauty, and jewellery for a worldwide audience, said a joint statement. Rahul Mishra will lead the creative direction of the new brand as creative director, it added.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances