Reliance
Reliance Industries Market Capitalization Surpasses INR 18 Trillion Milestone
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, noted that Nifty exhibited sideways trading, concluding marginally positive at 21,647 levels. This came ahead of the release of US inflation data and the commencement of the Q3FY24 earnings season on Thursday.
Reliance Maintains Strong Lead in Wizikey’s NewsmakersIndia Ranking
The Wizikey News Score, a metric determined by factors such as news volume, headline presence, publication reach, and readership, positioned Reliance at the pinnacle for the fourth consecutive year.
Reliance Industries Maintains Streak as Top Wealth Creator for the Fifth Consecutive Time (2018-23)
Despite ranking third in wealth creation, the Financials sector is the top Wealth Destroyer, accounting for 25% of the total Wealth Created by the top 100 companies during 2018-23. Notably, this remains below the levels observed during the Covid-hit study period of 2015-20.
Mukesh Ambani Forecasts India's Energy Demand to Double by the End of the Decade
Ambani praised PDEU for spearheading education and research in this critical domain and announced four groundbreaking initiatives aimed at equipping students with expertise in cutting-edge energy technologies. These initiatives include a 45 MW Solar PV production line for training in solar energy production, a Smart Hybrid Micro-Grid System to impart knowledge about energy storage techniques, an Apple Lab for technology exploration and skill development, and a multi-game Sports Arena to nurture high-quality sporting talent.
Reliance Industries leads Sensex gains
The other major factor impacting the markets -- the elevated US bond yields -- also will remain a short term concern since the Fed is likely to continue its hawkish stance in the light of the resilience of the US economy and inflation (3.7 per cent) remaining above the Fed’s target. So watch out for the Fed’s message on November 1 even while it holds the rate as the market expects, he said.
Rs 20 cr extortion-cum-death threat email to tycoon Mukesh Ambani
The email demanding Rs 20-crore threatens to shoot Ambani, 66, if he fails to cough out the amount. A company source, while confirming the development, declined to comment saying that the police are probing the matter. A complaint has been registered by the Gamdevi Police Station and investigations are launched into the antecedents of the email threat-given.
Reliance Industries nearing deal to buy Walt Disney’s India ops
The US entertainment giant might sell a controlling stake in the Disney Star business, which it values at around $10 billion, as opposed to piecemeal transactions weighed earlier, Bloomberg reported.
Reliance Brands acquires majority ownership of Superdry IP for Indian territory
The joint venture entity will acquire Superdry's intellectual property assets for the India, Sri Lanka, and Bangladesh territories. RBUK and Superdry will own 76 per cent and 24 per cent of the joint venture entity, respectively. The consideration for the IP is £40.0 million, which is estimated to result in Superdry PLC receiving gross cash proceeds of £30.4 million (approx. £28.3 million net of fees and taxes) from RBUK.
Setback for Torrent as NCLT rejects its plea in the Reliance Capital resolution matter
The NCLT will now hear the Reliance Capital resolution plan approval application of the administrator on September 26. In its plea, Torrent Investment had sought NCLT's directions to keep the Reliance Capital resolution plan approval in abeyance till the final orders are passed by the Supreme Court.
Investment firm KKR to invest Rs 2,069cr in Reliance Retail Ventures at equity value of Rs 8.36L cr
KKR’s follow-on investment will translate into an additional equity stake of 0.25 per cent in RRVL on a fully-diluted basis. This, combined with its stake from its investment of Rs 5,550 crore in RRVL in 2020, will take its total equity stake in RRVL to 1.42 per cent on a fully-diluted basis.
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