Reliance Industries has said that it is not in the business of corporate or contract farming and has no plans to enter this business, the Mukesh Ambani-led conglomerate said in a statement on Monday, clarifying its position in the backdrop of the farmers’ protest. RIL said it is filing a petition later in the day … Read more
KOLKATA: Google India on Thursday said artificial intelligence alone can add USD 500 billion to the economy, and assist in better forecast of floods and accurate diagnosis of diseases. The company has committed USD 10 billion for expanding India’s digital footprint, a top official said. “The COVID-19 pandemic has prompted us to use every tool … Read more
The government on Monday received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL but billionaire Mukesh Ambani‘s Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), which is handling the sale, … Read more
Following the selloff in fully paid-up equity shares on Monday, Reliance Industries’ partly paid-up (PP) rights shares hit 10 per cent lower circuit limit after the company on Friday reported a 15 per cent year-on-year (YoY) drop in net profit at Rs 9,567 crore for the quarter ended September 30. RIL’s PP shares plunged 10 … Read more
The slump in demand for crude during the coronavirus pandemic has forced oil companies to contemplate the possibility that the fossil fuel market has peaked and the time for a global energy transition has come. But Saudi Aramco plans to boost its production capacity so it can pump as much of Saudi Arabia’s vast oil … Read more
Mumbai: Oil-to-retail conglomerate Reliance Industries (RIL) said on Thursday that Mubadala Investment Company (Mubadala), the Abu Dhabi-based sovereign investor, will invest Rs 6,247.5 crore into its unit Reliance Retail Ventures Limited (RRVL) for a 1.40 per cent stake The investment values Reliance Retail at a pre-money equity value of Rs 4.285 lakh crore. This marks … Read more
Export-oriented businesses like pharma, CRAM and the specialty chemicals will have exceedingly good growth even in FY21. But in FY22 and FY23, we expect a lot of these businesses to have very nice EBITDA and bottom line growth, says Sachin Shah, Fund (Portfolio) manager, Emkay Investment Managers. Some of the top stocks in your portfolio … Read more
NEW DELHI: Benchmark indices registered gains of one-and-a-half per cent during a week that saw tech stocks in the US plunging sharply but spectacular performance by Reliance Industries kept the market buoyant. Among the outperformers of this week, most names belonged to the internet, pharma and technology sectors while PSU sectors and multiplexes were among … Read more
NEW DELHI: The domestic equity market has turned listless over the past couple of weeks following an exuberant rally from the March lows. The one-step-forward-and-two-step-back kind of movement might frustrate investors, but it’s a reminder that there is no shortcut to making money. Patience! That’s the broader sense one gets in some of the tweets … Read more
NEW DELHI: Future Group firm Future Consumer Ltd (FCL) on Monday said it has defaulted on payment of principal redemption and interest on non-convertible debentures. The current default amount includes principal of Rs 20 crore and interest of Rs 2.03 crore, payable annually, it said. In a regulatory filing, the company said it has been … Read more