RELIANCE INDIA

India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes

The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.

Once rebuffed, a Chinese company finds the Ambani route to India

It seems a safe India entry for Shein because this time the ownership and control of the platform will remain with Reliance Retail's subsidiary; the platform will be hosted on infrastructure in India; and all platform data will remain in India, which Shein will not have access to, or rights over, ET has reported based on information from sources.

Reliance's app, stores may soon sport Shein

Reliance Retail Ventures is gearing up to launch Chinese fast-fashion label Shein in India, a year after forming a strategic partnership with the brand. The retailer plans to sell Shein products on its app and offline stores. Former Meta director Manish Chopra may lead Shein's operations in India. Shein aims to reduce dependence on China and leverage India's supply chain. The platform and data will be hosted and controlled by Reliance Retail.

There is a ring of truth to tariff hike

India's telecom companies, including Reliance Jio, Bharti Airtel, and Vodafone Idea, are increasing tariffs to boost revenue and fund network expansion, following a lifeline from the Government of India for spectrum purchase. Despite high spectrum prices and fierce competition, recent price hikes signal industry recovery and a shift towards sustainable growth. The focus is now on transitioning subscribers to 4G and preparing for the game-changing 5G era to support India's digital development.

Telcos' tariff hikes to push up core inflation by 0.2 pc in FY25: Report

The recent tariff hikes by the top three telcos in the country are expected to raise core inflation by 0.20 per cent in FY25, with analysts at Deutsche Bank revising their core inflation forecast to 3.8 per cent. The impact of the hikes is anticipated to be felt from July onwards, potentially pushing month-on-month core inflation by over 0.85 per cent. The Reserve Bank of India is closely monitoring the inflation trajectory, especially considering factors like below-trend monsoon rains and fluctuating food prices.

M-cap of nine of top-10 most valued firms jumps Rs 2.89 lakh crore; Reliance biggest winner

​Nine of the top-10 most valued firms together added Rs 2,89,699.42 crore in market valuation last week, with Reliance Industries emerging as the biggest gainer, in line with a rally in equities. Last week, the BSE benchmark jumped 1,822.83 points or 2.36 per cent.

Sensex, Nifty hit fresh peaks once again; telecom stocks in focus

The market showcases strong performance in diverse segments, with small-cap, mid-cap, and micro-cap stocks leading the positive momentum. Sectors like metal, pharma, and PSU banks also demonstrate resilience, marking a significant uptick in trading values amid the current market scenario.

F&O Ban: India Cements, Indus Towers among 5 stocks under trade ban on Thursday

The Future & Options contracts of any stock enter a ban period when its open interest (OI) exceeds 95% of the market-wide position limits (MWPL). The ban is lifted only when the open interest falls below 80% of MWPL

Nita Ambani announces first-ever India House at Paris Olympics, says 'it will honour our athletes'

India Inc's CSR spends on sports likely to surge in next few years

The foundations of several companies, such as the Reliance, Tata Steel, JSW, Hindustan Zinc and SKF India, have been supporting sports as part of their corporate social responsibility (CSR) commitments. However, the data on whether there has been an increase in the CSR spend on sports and by which companies is not available. This is due to an MCA notification in September 2022 that no longer requires companies to disclose details of their CSR spends but only the total spends towards CSR.

ITC, Bharti Airtel’s weight may go up in Nifty rejig. $95 million passive inflows expected

​ITC and Bharti Airtel’s weights in Nifty is expected to go up in the quarterly rejig which gets into effect on Thursday, triggering combined inflows of $95 million according to estimates by Nuvama.

Telcos bid for 5G worth ₹11,000 crore on first day of India's second spectrum sale

All three private carriers — Reliance Jio, Bharti Airtel and Vodafone Idea – are believed to have bid for sub-GHz (900 MHz) and select mid-band airwaves (1800 MHz, 2100 MHz) as they look to bolster their respective 5G spectrum holdings. High-band 5G airwaves in the 26 GHz band appear to have been given a miss on the opening day of the airwaves sale. In this year’s auction, the government has put 10.5 GHz of 5G spectrum in eight bands — 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz, 3.3 GHz and 26 GHz — worth around Rs 96,238.45 crore at reserve prices on sale.

ET Graphics: A look at telecom industry's top carriers ahead of India's second 5G spectrum sale

India’s second 5G spectrum sale starts on Tuesday, featuring bids from top carriers Reliance Jio, Bharti Airtel, and Vodafone Idea (Vi). This sale is expected to run for a day or a day-and-a-half and is anticipated to be a low-key affair. Only 10.5 GHz of 5G airwaves are available this time, significantly less than the 72 GHz offered in the country's first 5G spectrum auction in July 2022.

Mcap of three of top-10 most valued firms jumps Rs 1.06 lakh cr; HDFC Bank, ICICI Bank shine

The combined market valuation of three of the top-10 most valued firms jumped Rs 1,06,125.98 crore in holiday-shortened last week, with HDFC Bank and ICICI Bank emerging as the biggest gainers. Last week, the BSE benchmark Sensex climbed 217.13 points or 0.28 per cent.

India's downstream oil and gas profits to fall; upstream to remain strong: Fitch Ratings

India's oil and gas sector is forecasted to have mixed fiscal performance in FY24, with downstream profits expected to decline while upstream growth remains robust, driven by a 3-4% increase in petroleum product demand for FY25. Diesel and petrol will dominate consumption, with anticipated stable marketing margins for oil marketing companies. Upstream companies will continue high capex for production growth, while crude oil import dependency is projected to increase despite rising domestic production.

India's May oil imports: Russia at record high, Saudi lowest in 10-month

India's oil imports from Russia hit a record high of 2.1 million bpd in May as discounts widened due to lower demand from China. Some European nations avoided Russian oil after the Ukraine invasion, making Russian oil cheaper than similar grades from the Middle East.

India story strong but vulnerable to bit of profit taking in short term: Jonathan Schiessl

I think the underlying India story still looks very strong and so that yes, it is at the moment just the market is probably vulnerable to a bit of profit taking in the very short term.

Vedanta turns a money-spinner for investors. What's pushing it on?

Shares of Anil Agarwal-owned Vedanta Group, including Vedanta Ltd and Hindustan Zinc Ltd, have surged by Rs 2.2 lakh crore, doubling from their 52-week lows. Vedanta's growth exceeds other top Indian businesses like Reliance and Tata Groups. Brokerages have raised price targets on Vedanta, citing operational efficiencies and demerger prospects. Vedanta plans to invest $20 billion in India, focusing on technology and electronics. Agarwal aims to monetize the steel business to cut debt.

Anil Jayaraj quits as CEO of Viacom18 Sports

Anil Jayaraj, Viacom18's sports CEO, resigned after nearly three years. His departure coincides with Viacom18's merger with Star India under Reliance Industries. Sources revealed Jayaraj submitted his resignation on Monday, but Viacom18 did not respond to requests for comments

Reliance's Jio Platforms clears hurdle in bid to launch satellite internet in India

Joint venture between Reliance Industries' Jio Platforms and SES, based in Luxembourg, has received the green light from the Indian space regulator to operate satellites in the country, according to a government official. Orbit Connect India, aimed at delivering high-speed internet access via satellites, has secured three approvals. This development emerges amidst a competitive landscape where companies like Amazon.com and Elon Musk's Starlink are seeking approval to launch satellite communication services in India, the world's most populous nation.

Rare ARC bids for SBI's claims on Reliance naval loan guarantees

Rare Asset Reconstruction Company is acquiring SBI's claims from personal guarantees by Nikhil and Bhavesh Gandhi. The guarantees were issued for loans to Reliance Naval and Engineering, operated by Swan Energy-led consortium in partnership with Hazel Mercantile through Hazel Infra. The Supreme Court upheld the IBC provision allowing lenders to recover overdue money from corporate debtors' personal guarantors.

Reliance and Tata recognised among the World's Most Influential Companies by TIME

Reliance Industries Limited (RIL) has been named one of the World's Most Influential Companies by TIME magazine, marking its second appearance in the TIME 100 list. Recognized in the 'Titans' category, Reliance has significantly impacted various sectors in India and beyond, under the leadership of Mukesh Ambani. Key initiatives include Jio Platforms, the world's largest refining complex, Reliance Retail, investments in new energy, and ambitious net zero goals. The inclusion highlights the growing global influence of Indian enterprises.

SBI to sell guarantees of Reliance Naval promoter

The bank, in a notice on its website, said that it has principal outstanding dues of Rs 1,160 crore and total dues of Rs 3,512 crore, as of May 31, 2024. The bank stated that it is seeking to assign the residual debt along with the guarantee. Nikhil Gandhi and his brother Bhavesh Gandhi have provided personal guarantees while SKIL Infrastructure provided corporate guarantees on the loan.