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<ul><li>The pay cuts affect employees and senior leaders in Reliance’s hydrocarbon division.</li><li>Employees earning less than ₹15 lakh per annum have been spared, while those earning more than ₹15 lakh will have to take a pay cut of 10% on fixed pay.</li><li>Senior leaders will see a reduction of up to 50% of compensation, while Mukesh Ambani will forgo his full compensation.</li><li>Annual cash bonus and performance-linked incentives have also been deferred.</li></ul>Mukesh Ambani’s Reliance Industries (RIL) has cut employee salaries and froze bonuses citing the impact of Covid-19 pandemic. The company-wide pay cuts impact senior employees who will see a reduction of up to 50%. The <keyword id="4347449" type="PERSON" weightage="20" keywordseo="RIL-share-price">RIL share price</keyword> closed the day up 2.6%. Business Insider has reached out to RIL spokesperson and will update the story with the comment, if any. <div type="Article" hostid="261" msid="75312823" title="Mukesh Ambani snatches Asia’s richest man title back from Jack Ma with a little help from Mark Zuckerberg" mstype="2" mssubtype="0"></div> According to a letter seen by Business Insider, employees who earn more than ₹15 lakh per annum will face a 10% reduction in fixed pay. Those with a pay of less than ₹15 lakh per annum have been spared from reductions, for now. The reduction will be to the tune of 30-50% in the compensation to the Board of Directors including Executive Directors and senior leaders. The company’s chairman, Mukesh Ambani will forgo his entire compensation. The letter cited the slowdown in hydrocarbon business has been the most affected due to Covid-19 as demand for refined petroleum and petrochemical products has declined. Added to that, the <a href="https://www.businessinsider.in/business/news/crude-oil-prices-didnt-fall-below-zero-futures-did-and-heres-what-it-means/articleshow/75264639.cms">sudden decline in crude oil prices</a> also alters the math for its Jamnagar refinery which is export-oriented. Cash bonus and performance-linked incentives deferred Annual cash bonuses and performance-linked incentives have also been deferred for the first quarter. Reliance said that this lockdown has offered it an opportunity to reorganize its businesses and digitalize its processors to improve efficiency and costs. Reliance was scheduled to hold a meeting of its Board of Directors to approve the audited financial reports for the year ended March 31, 2020. Reliance is said to <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-shareholders-may-get-dividend-payout-as-it-to-considers-rights-issue-at-april-30-board-meeting/articleshow/75422405.cms">come out with a rights issue</a> after many years in order to reduce its debt burden. See also: <a href="https://www.businessinsider.in/tech/news/on-facebook-earnings-call-mark-zuckerberg-opens-up-about-his-deal-with-mukesh-ambani-reliance-jio/articleshow/75465081.cms">On Facebook earnings call, Mark Zuckerberg opens up about his deal with Mukesh Ambani’s Reliance Jio</a> <a href="https://www.businessinsider.in/tech/news/whatsapp-has-reportedly-listed-giving-loans-as-a-main-objective/articleshow/75445825.cms">WhatsApp has reportedly listed giving loans as a ‘main’ objective— and it could be a big feature in Facebook and Reliance Jio’s partnership</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-shareholders-may-get-dividend-payout-as-it-to-considers-rights-issue-at-april-30-board-meeting/articleshow/75422405.cms">Reliance Industries shareholders may get dividend payout as it to considers rights issue at April 30 board meeting</a>

Reliance Industries cuts employee salaries by up to 50%, freezes bonuses ⁠— Chairman Mukesh Ambani will forgo full compensation

In the appraisal season, 20,000 junior and middle-level employees of Reliance Industries have received 8 to 10% increments and 100% bonuses, as senior managers wait for their increments and variable pays, to be received this week. 
 
Reporting a net profit of Rs 27,630 crore in the quarter that ended this March, it was the highest profit for the company in the past eight years. The junior and middle managers have been paid 100% of variable pay or annual cash bonus (ACB). 
 
This figure is also the highest that they have been given, as per ET sources. Last year, while the increment was a bit less, the variable pay was around 85%. 
 
In this oil-to-retail conglomerate, employees are ranked alphabetically as per their performances, while the top rung comes under the A category, the B category has employees one level lower and so on. The employees who have performed exceptionally well in the past year have even received more than 100% of their ACB. 
 
<a href="http://116.50.66.238/images/start_01.png">Image source</a>

RIL is handing out up to 10% hikes and 100% bonuses to its employees

<ul><li>Supreme Court decision to make Airtel and Vodafone pay up spectrum dues gave a boost to RIL stock. </li><li>In the last one week, <a href="https://www.bloombergquint.com/business/ambani-said-in-talks-to-sell-news-assets-to-india-s-times-group">Bloomberg reported</a> that RIL has been trying to sell its media business to two different entities. </li><li>Ambani also said that he plans to turn the company<a href="https://www.businessinsider.in/airtel-tata-sky-and-pvr-shares-fall-after-mukesh-ambanis-vision-for-ril/articleshow/70655108.cms"> virtually net-debt free</a>. </li><li>This year, Reliance Retail also crossed ₹2,000 crore in pre-tax profits during the first quarter. </li></ul>It was a much anticipated event but the market value of Reliance Industries hit crossed ₹10 lakh crore in today’s trade. In the morning session it ₹10,00,382.68 crore even as the stock went up only by a marginal 0.5% today. But the company stock withstood erratic sessions of highs and lows and various global cues, to grow steadily for the last four months. The flurry of good news started after Ambani unveiled his next generation plans at his<a href="https://www.businessinsider.in/highlights-of-mukesh-ambani-speech-at-reliance-industries-agm/articleshow/70638299.cms"> annual general meeting</a>. But many unprecedented activities also made him the undisputed king of the telecom market. 
 
 
 
 
 
 
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 Rivals loss is Ambani’s gain Jio was gaining customers, mostly at the expense of Vodafone-Idea, but that came at the cost of very cheap prices. It wasn’t clear if Jio will be able to keep the lead if it raised tariff. That worry had been laid to rest after the top three mobile service providers ⁠— Airtel, Vodafone-Idea, and Reliance Jio⁠— announced their plans to<a href="https://www.businessinsider.in/business/corporates/news/jio-will-raise-tariffs-after-airtel-and-vodafone-idea/articleshow/72138425.cms"> hike</a> tariffs. It gave a golden opportunity for Jio to make more money while maintaining the lead over others. Then came the deathly blow for Jio’s rivals from none other than the Supreme Court, which ordered telcos to pay up around ₹92,000 crore ($13 billion) in dues to the Indian government. The companies had lost a decade-old case on how much they have to pay in spectrum fees that left them heavy interest and penalties included. The other two companies which were much older had to pay a lot more than Jio, which was a blessing in disguise for <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s company. Many stockholders believed that Jio would end up with a virtual monopoly over the market as the debt of Airtel and Vodafone is all set to rise The sentiment effect too boosted the stock value by a great margin for a few weeks. Sale of Reliance’s media business In the last one week, wire agency<a href="https://www.bloombergquint.com/business/ambani-said-in-talks-to-sell-news-assets-to-india-s-times-group"> Bloomberg reported</a> twice that RIL has been trying to sell its media business to two different entities—Japanese major Sony and the Times Group. The media business of Network18 that RIL acquired in 2014 is a loss-making entity. The group owns the television channels of Eenadu TV along with those of Network18 like CNBCTV18 and CNN-IBN, Colours and more. It also owns multiple websites like moneycontrol and Firstpost. The news of a possible sale and cash flowing also boosted the stock price. At the AGM in August, Ambani also said that he has plans to carve out retail and Jio into separate entities to unlock value. Plan to go debt free, bonuses and IPOs Apart from announcing various futuristic plans, Ambani also said that he plans to turn the company<a href="https://www.businessinsider.in/airtel-tata-sky-and-pvr-shares-fall-after-mukesh-ambanis-vision-for-ril/articleshow/70655108.cms"> virtually net-debt free</a>. For a company which is saddled with a debt of around ₹1.5 lakh crore, it is good news for investors. This is especially true in a market where every third company is either weighed down by or going <a href="https://www.businessinsider.in/thelife/personalities/news/subhash-chandra-the-man-who-started-tv-revolution-in-india-now-bows-out-after-piling-on-1-6-billion-debt/articleshow/72251788.cms">under debt burden</a>. He also walked the talk by announcing massive deals with international oil majors –British Petroleum and Saudi Aramco which will bring in as much as ₹1.1 lakh crore in commitments. Reliance Retail starts churning profits This year, Reliance Retail also crossed ₹2,000 crore in pre-tax profits during the first quarter. “In our core retail, we crossed the best margin ever at 8.9%. We now have 10,644 stores across the country now,” said Alok Agarwal, CFO of the company during <a href="https://www.businessinsider.in/mukesh-ambanis-reliance-retail-reports-over-47-growth-in-revenue/articleshow/70295939.cms">the quarterly results</a>. But this is not the only good news that the business brought. Ambani unveiled his plans to use the synergies of digital business of Jio with retail and take on Flipkart and Amazon in the online space. In fact, the company unveiled plans of a virtual reality powered shopping experience This, along with promise of public offers and possible bonuses put RIL stock on the fast lane.

Four reasons why Mukesh Ambani’s Reliance Industries is now worth ₹10 lakh crore

<ul><li>In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open on a higher note. In the Asain market, the SGX Nifty was trading 0.36% higher at 7:49 am, indicating a green start for Nifty50. The US stocks ended the Tuesday lower as investors cheered the news of President Donald Trump leaving the hospital where he is being treated for COVID-19. The Dow Jones Industrial Average rallied 465.83 points, whereas the S&amp;P 500 gained over 1.80% on Monday. These are the stocks to watch out for during the trading session on October 6: SBI The headhunter for state-owned banks and financial institutions, the Banks Board Bureau (BBB) recommended the names of Swaminathan Janakiraman and Ashwini Kumar Tewari for the posts of managing director at State Bank of India. The country’s largest lender bank is headed by a chairman with four managing directors to assist. Also, the current SBI chairman’s tenure ends on October 7. Watch out for announcements on the change of guard at the helm of SBI as well. The shares of SBI ended 0.45% lower on Monday. HDFC and HDFC Bank The Housing finance major HDFC, in its second-quarter update ending September 30, said that its individual loan disbursements reached 95% of the level in the year-ago period, and September saw the strongest recovery since the outbreak of the COVID-19 pandemic, suggesting business is returning to pre-crisis levels. The individual loan business has continued to see a month-on-month improvement in July-September 2020, the company said in its regulatory filing. The HDFC Bank advances as of September 30 rose 16% YoY to ₹10.4 lakh crore, and the deposits increased 20% to ₹12.3 lakh crore. The shares of HDFC Ltd ended 0.46% lower yesterday, whereas HDFC Bank ended 0.50% higher. Tata Motors Tata Motors-owned subsidiary Jaguar Land Rover (JLR) reported a 12% dip in sales in the second quarter ended September 30. However, the sales improved by nearly 50% during the July-September quarter as against 74,067 units in the April-June period of the current fiscal, the company said in a statement. The shares of Tata Motors ended 0.52% higher yesterday. Britannia Industries Bakery and dairy products major Britannia Industries said its board has approved issuing bonus debentures and payment of dividend to reward its shareholders in such difficult and unprecedented times due to the coronavirus pandemic. The board approved 1 bonus debenture for 1 share held, and payment of ₹12.5/share as dividend. The shares of Britannia Industries ended 0.56% higher yesterday. Deepak Fertilisers and Petrochemicals The wholly-owned arm of Deepak Fertilisers and Petrochemicals, Smartchem Tech, raised ₹105 crore via debentures from international finance corporation. A debenture is a loan that is issued to corporates based on their reputation at a fixed rate of interest. The shares of Deepak Fertilisers and Petrochemicals ended 2.3% lower yesterday. Future Consumer Future Capital Investment, the promoter of Future Consumer, invoked pledge of 18 lakh shares from September 14-16. The shares of Future Consumer ended 4% lower on Monday. Infibeam Avenues and RIL The digital payments, e-commerce software company Infibeam Avenues has entered into a definitive agreement with Jio Platforms and its affiliates. The shares of Infibeam Avenues were locked in 5% upper circuit on Monday. Escorts The automaker Escorts has completed the acquisition of 2 crore equity shares of KAI from KBT, constituting 40% of the share capital of KAI for an aggregate value of ₹90 crore. The shares of Escorts ended 3.32% higher on Monday. Majesco The board of Majesco will consider a proposal for buyback of fully paid-up equity shares on October 8. The shares of Majesco ended 0.15% lower on Monday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/tcs-shares-hit-record-high-board-to-mull-over-share-buyback-and-earnings-on-october-7/articleshow/78486980.cms" data-type="tilCustomLink">TCS' value crosses ₹10 trillion after share price rallies more than 7% ahead of earnings</a> <a href="https://www.businessinsider.in/politics/world/news/trump-tweets-that-hes-leaving-the-hospital-and-says-dont-be-afraid-of-covid-a-deadly-virus-thats-killed-over-209000-americans/articleshow/78502663.cms" data-type="tilCustomLink">Trump tweets that he's leaving the hospital and says 'don't be afraid of Covid,' a virus that's killed over 209,000 Americans</a>

Top stocks to watch—SBI, HDFC Bank, Tata Motors, RIL, Infibeam, Britannia, Future Consumer and others

<ul><li>Sensex gained 0.59% to 38,273.73 points during the initial trade.</li><li> The Nifty50 rose 0.59% to 11,314.00. </li><li>These are the top stocks that are buzzing the D-street today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Despite the mixed cues from global markets, Indian stock market opened on a positive note on Tuesday with the BSE Sensex gaining 0.59% to 38,273.73 points during the initial trade. The Nifty rose 0.59% to 11,314.00. On the Nifty50 chart, Grasim, ONGC, Eicher, Titan and UPL Limited were among the top gainers - rising as much as 5%, whereas, Indusind Bank, Tech M, JSW Steel were among the top losers. These are the top stocks that are buzzing on D-street today. Tata Motors gained nearly 2% during the morning trade <div type="image" title="Tata Motors August 18" msid="77605551" hostid="261"></div> Tata Motors gained nearly 2% during the morning trade after the company refuted claims of stake sales in its premium car segment JLR. The company said there is adequate liquidity with the company to manage its operations and capital expenditure. Yes Bank gained 3% during the early trade hours <div type="image" title="yes Bank August 18" msid="77605556" hostid="261"></div> Yes Bank shares gained 3% during the early trade hours after the bank in a notice to shareholders for the AGM said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, which can be seen as a move to retain talent. SBI Cards up over 2% <div type="image" title="SBI cards August 18" msid="77605595" hostid="261"></div> The share price of SBI Cards was trading up over 2% after the company said it raised ₹500 crore via 5.75% 2023 bonds. Bandhan Bank gains nearly 2% <div type="image" title="Bandhan Bank August 18" msid="77605647" hostid="261"></div> Bandhan Bank shares gained nearly 2% after the Reserve Bank of India (RBI) lifted the restriction regarding the remuneration of Bandhan Bank’s MD and CEO after the promoter shareholding was brought down to 40% in line with the central bank’s norms. In September 2018, the RBI, among other restrictions, said that the remuneration of the MD and CEO of Bandhan Bank stands frozen at the existing level in view of non-compliance with RBI’s licensing norms for new private sector banks. Britannia gains nearly 2% during early hours of trading <div type="image" title="Britannia shares August 18" msid="77605697" hostid="261"></div> FMCG major Britannia gained nearly 2% during early hours of trading after the company said its board has declared an interim dividend of ₹83 per share for the current fiscal and approved issue of bonus debentures. Reliance Industries trades 2% higher <div type="image" title="RIL August 18" msid="77605757" hostid="261"></div> Reliance Industries shares were trading 2% higher after the Supreme Court asked Centre to clarify its stand on why Reliance Jio, which is earning revenue by sharing Reliance Communication’s (RCom) spectrum be not asked to pay the AGR related dues to the government. The Supreme Court will continue hearings in the AGR case today. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-today-ril-sbi-cards-hal-manappuram-airtel-bandhan-bank-britannia/slidelist/77603872.cms" data-type="tilCustomLink"> Top stocks to watch today— RIL, SBI Cards, HAL, Manappuram, Airtel, Bandhan Bank and more</a> <a href="https://www.businessinsider.in/business/startups/news/oyo-byjus-investor-lightspeed-india-closes-its-third-fund-with-275-million/articleshow/77603896.cms" data-type="tilCustomLink">OYO, Byju's investor Lightspeed India closes its third fund with $275 million</a>

Top stock movers on Dalal Street today — Tata Motors, SBI Card, Bandhan Bank, RIL, Britannia

<keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore <keyword id="6357022" type="DEFINITION" weightage="20" keywordseo="Rights">rights</keyword> issue, and the balance will have to be paid in two installments in May and November next year, the company said. Oil-to-telecom conglomerate's rights issue will open for subscription of shareholders on May 20 and will close on June 3. One share will be offered for every 15 shares held at Rs 1,257. Of the Rs 1,257 per share price, only 25 per cent is to be paid at the time of subscription. A similar amount will be due for payment in May 2021 and the balance 50 per cent has to be paid in November 2021, the company said in a regulatory filing. "The rights issue committee of the board of directors, in its meeting held on May 17, 2020, has proposed the following schedule for payment of the balance amount of Rs 942.75 per rights equity share - Rs 314.25 i.e. 25 per cent in May 2021; and Rs 628.50 i.e. the balance 50 per cent in November 2021," it said. <div type="Article" hostid="261" msid="75798281" title="Indigo, SpiceJet shares crash in morning trade after India keeps flights grounded till May 31" mstype="2" mssubtype="0"></div> The board, it said, would make the calls for this purpose at the relevant time. Billionaire <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue - India's biggest and first such issue by the firm in nearly three decades. One share will be offered for every 15 shares held at Rs 1,257, a 14 per cent discount to the closing price for April 30. Reliance Industries' share price has since risen to Rs 1,458.90 (Friday's closing price), but rights issue price remains the same. Typically, cash-strapped companies use rights issues to raise money when they really need it. In these rights offerings, companies grant shareholders the right, but not the obligation, to buy new shares at a discount to the current trading price. But for Reliance Industries (<keyword id="6484187" type="DOMAIN" weightage="20" keywordseo="ril">RIL</keyword>), it is not about raising funds as it has significant liquidity with USD 23.4 billion of cash and equivalent. It is being seen as an attempt to reward the shareholders, cut debt at the group and promoters faith in the Reliance growth story. Promoter <keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> family has under-written the entire rights issue, pledging to buy shares that are unsubscribed. The last time RIL tapped the public for funds was in 1991 when it had issued convertible debentures. The debentures were subsequently converted into equity shares at Rs 55 apiece. Mukesh Ambani had in August last year unveiled plans to cut debt to zero by 2021. As part of this plan, RIL has been seeking strategic partnerships across its businesses while targeting to deleverage the balance sheet. At the end of March quarter, RIL had an outstanding debt of Rs 3,36,294 crore. It also had cash in hand of Rs 1,75,259 crore, bringing the net debt position to Rs 1,61,035 crore. As part of its balance sheet deleveraging plans, Reliance has sold minority stake in its digital unit, Jio Platforms to likes of Facebook. It is also talking to Saudi Aramco for selling a fifth of its oil-to-chemicals business for an asking of USD 15 billion and has sold half of its fuel retail venture to <keyword id="111764" type="COMPANY" weightage="20" keywordseo="BP-Plc">BP Plc</keyword> for Rs 7,000 crore and telecommunication tower business to Brookfield for Rs 25,200 crore. Together, proceeds from these transactions will result in a reduction in RIL's net debt. SEE ALSO:<a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-cuts-employee-salaries-by-up-to-50-freezes-bonuses-chairman-mukesh-ambani-will-forgo-full-compensation/articleshow/75470710.cms" data-type="tilCustomLink"> Reliance Industries cuts employee salaries by up to 50%, freezes bonuses ⁠— Chairman Mukesh Ambani will forgo full compensation</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-rs-53125-cr-right-issue-to-open-may-20-close-june-3/articleshow/75770613.cms" data-type="tilCustomLink">Reliance Industries' ₹53,125 crore right issue will kick off on May 20 — you'll have till June 3 to subscribe</a>

Shareholders to pay 25% for subscribing to RIL's ₹53,125-crore right issue now, balance next year

<ul><li><keyword id="6376684" type="General" weightage="20" keywordseo="nykaa" source="Orion">Nykaa</keyword> stock fell this entire week, and hit an all-time low on Wednesday at ₹123.3.</li><li>The stock has been plunging since the last six months, with a 45% fall during the period.</li><li>Analysts say that most overvalued stocks, especially those of new-age companies, are under pressure.</li></ul>The stock of FSN E-Commerce Ventures, parent company of Nykaa has tumbled this entire week, and hit an all-time low on Wednesday at ₹123.3. The stock of this online retailer of beauty and fashion products slipped over 13% in the last five sessions. It has been plunging for the last six months, with a 45% fall during the period. Analysts believe that the recent correction is because of volatile market conditions ahead of the Union Budget, amid ongoing corporate earnings and weak cues from global markets that are urging investors to leave overvalued stocks. The list of such stocks also includes other new age companies like Zomato, Policybazaar and Paytm. “I don’t think that Nykaa’s fall in the last 5-6 sessions specifically has its own story. I believe the volatile market environment given we are also at a cusp of the Budget is leading to sharp correction in stocks that are overvalued. These include stocks like Nykaa which are not valued correctly and hence they tend to fall,” Neha Khanna, director at management consultancy firm ValPro, told Business Insider India. She added, “The situation is not specific to Nykaa, it is happening with other overvalued stocks as well like Zomato that also fell during the period. Such sudden falls have happened in the past as well.” Equity markets have been choppy and volatile this entire week, as investors have been reacting to the Q3 earnings, while factoring in budget expectations. Sensex gained 0.5% while Nifty50 went up just 0.28% in the last five days. In the last five sessions, Zomato and PB Fintech (Policybazaar) too slid by 6%. Meanwhile, Paytm has fallen 2%. Lock-ins and effects Shares of <a href="https://www.businessinsider.in/stock-market/news/four-new-age-company-stocks-turn-volatile-post-end-to-lock-in-period/articleshow/95583789.cms">new age companies have already been under pressure </a>since November 2022 as their lock-in periods for pre-IPO investors to sell their shares ended. An IPO lock-in period is a time span post listing during which pre-IPO investors are not eligible to sell their shares. The lock-in period of Nykaa ended on November 10. However, the fall in the company’s stock was limited as the board had announced a share bonus (5 shares for every 1 share held). The company is yet to release its December quarter earnings. “Apparently there is no particular reason for the sharp fall but factors like impending competition, December quarter numbers which may not be good, sell off by pre IPO investors, tired IPO investors selling are leading to sell off. Large scale companies are entering this space like RIL, Adani may also enter in some time. And the expectations that the topline may not be growing as they would have hoped could be another reason for fall,” said an analyst who did not wish to be named. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/article/nykaas-fashion-foray-and-pipeline-style-biz-model-worries-analysts/articleshow/95405203.cms">Nykaa’s fashion foray and pipeline-style biz model worries analysts</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/brides-buy-half-of-all-gold-jewellery-sold-in-india-says-world-gold-council-report/articleshow/97168432.cms">Brides buy half of all gold jewellery sold in India says World Gold Council report</a>

Nykaa plunges to all-time low; analysts say overvalued stocks hit most during volatile markets

<ul><li>Indian markets might open slightly higher as <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the market, was up 0.39%.</li><li>Investors will monitor the RBI’s decision on interest rates and governor’s commentary on inflation and growth.</li><li>RIL, Adani Enterprises and Britannia Industries are among stocks to watch out for on August 5.</li></ul>Indian stock markets are expected to open on a positive note tracking global indices for a straight seventh session. However, they might curiously watch out for the <keyword id="679958" type="General" weightage="20" keywordseo="rbi-monetary-policy" source="Orion">RBI monetary policy</keyword> outcome today. According to experts, the central bank might go in for an interest rate hike and it could be in the range of 30-50 basis points. Investors will also watch out for the governor's commentary on inflation and growth, amid many global cues. On Monday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> closed 51 points lower at 58,298 and <keyword id="66115" type="General" weightage="20" keywordseo="nifty-50" source="Orion">Nifty 50</keyword> ended 6 points down at 17,382 – breaking a six-day gaining streak. Meanwhile, crude oil prices fell today hitting their lowest since before the Russian invasion of Ukraine in February; at $93 per barrel. The market however remains concerned about the impact of inflation on global economic growth and demand. The US market ended on a mixed note as investors looked ahead to monthly jobs reports for possible signs on the pace of interest rate hikes that would be taken by the Fed. Here are some of the stocks that will remain in focus: Adani Enterprises The company reported a 73% jump in consolidated net profit at ₹469 crore for June quarter while consolidated revenue from operations surged 225% to ₹40,844 crore. Britannia Industries The company reported an 11% drop in net profit to ₹335 crore as compared to the same quarter last year. Its revenues rose marginally by 4% to ₹3,700 crore in the same period. Future Retail Markets regulator SEBI has ordered a forensic audit of the financials of Future Retail. Bharat Electronics The state-run company announced the issuance of bonus shares in a 2:1 ratio. Lupin The pharma company announced a weak quarter with a consolidated net loss of ₹89 crore as against ₹542 crore last year. Earnings today Mahindra &amp; Mahindra, Titan Company, Aditya Birla Fashion And Retail, NMDC, Emami Honda India Power Products, Indigo Paints, FSN Ecommerce Ventures, One 97 Communications, Pfizer among companies that would report their quarterly earnings. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/price-hike-impact-will-be-seen-next-quarter-says-varun-berry-after-britannias-net-q1-falls-11/articleshow/93351282.cms">Price hike impact will be seen next quarter, says Varun Berry after Britannia’s net Q1 falls 11%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/reliance-backed-dunzos-b2b-logistics-arm-arrives-on-ondc/articleshow/93351531.cms">Reliance-backed Dunzo's B2B logistics arm arrives on ONDC</a>

Markets hold their breath ahead of the monetary policy today

<ul><li>Indian markets may open lower as <keyword id="90570" type="General" weightage="20" keywordseo="sgx-nifty" source="Orion">SGX Nifty</keyword>, an early indicator of the market, was down 0.48%.</li><li>Global markets remained weak after economic data from the US, Europe and China showed demand weakening because of high inflation.</li><li>Investors are awaiting the outcome of the monetary policy meeting that will conclude tomorrow August 3.</li><li>RIL, Bharti Airtel, ITC, Zomato among stocks to watch out for on August 2.</li></ul>Indian markets may open lower following Asian and US markets that traded down on fears of recession after economic data from the US, Europe and China showed demand weakening due to inflationary pressures. Also, US long-term treasury yields sank to a four-month low, pulling the US dollar down against other currencies while investors worried about risk of global recession. At home, investors are awaiting the outcome of the monetary policy meeting that will conclude tomorrow August 3, where RBI is expected to hike benchmark interest rates. On Monday, <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and Nifty50 closed nearly 1% higher each at 58,115 points and 17,340 points respectively. Here are some of the stocks that will remain in focus today. Reliance Industries The telecom to oil conglomerate has bagged a total of 24,740 megahertz of 5G spectrum and will pay the government ₹7,877 crore per annum at a compound annual interest of 7.2% for a total of ₹88,078 crore over 20 years. Bharti Airtel The telecom operator bagged 19,800 megahertz of 5G spectrum and will pay ₹43,084 crore to the government. ITC ITC’s net profit for April-June quarter grew by 33% to ₹4,389 crore as compared to ₹3,276 crore in the same quarter last year, beating street estimates. Its total revenue from operations increased by 39% on year to ₹19,831 crore from ₹14,240 crore last year. Zomato Online food delivery platform narrowed its consolidated loss at ₹185 crore in June quarter compared to ₹359 crore last year. Hero MotoCorp The two-wheeler major reported total sales of 4.46 lakh units in July 2022, down 1.8% on year. Scooter sales declined 19.8% to 24,292 units on year. Bharat Electronics The state-run company is considering a proposal to issue bonus shares to its shareholders. Earnings today Adani Green Energy, Godrej Properties, Siemens, Bank Of India, Bosch, Deepak Nitrite, Indus Towers, Jubilant Pharmova, Voltas, JKumar Infraprojects, Lemon Tree Hotels, among companies to launch quarterly earnings. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/auto-sales-data-july-2022-maruti-and-toyota-post-strong-growth-in-sales-while-mg-motor-and-kia-decline/articleshow/93276379.cms">Auto sales data July 2022: Maruti and Toyota post strong growth in sales while MG Motor and Kia decline</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/itcs-net-up-33-in-q1-on-a-strong-show-in-cigarette-hotel-agri-segments/articleshow/93278011.cms">ITC’s net up 33% in Q1 on a strong show in cigarette, hotel, agri segments</a>

Indian markets may open lower on fear of global recession

IT services company HCL Technologies on Thursday saw its net profit zoom to Rs 3,593 crore for quarter ended March 2022, and struck an optimistic note about "buoyant" market environment citing "strong momentum across verticals and service lines". The net profit was Rs 1,102 crore in the year-ago period. HCL Tech expects revenue to grow between 12-14 per cent in constant currency for the fiscal 2023. HCL Technologies Chief Executive Officer and Managing Director C Vijayakumar, during the earnings conference, said that market environment is "buoyant" and there is "strong momentum across verticals and service lines". The company's revenue from operations for Q4 FY22 came in at Rs 22,597 crore, 15 per cent higher than a year ago. The March quarter net profit at Rs 3,593 crore, was 4.4 per cent higher on a quarter-on-quarter basis. On a comparative basis, the net profit was up 23.9 per cent year-on-year. "For comparison purposes, net income of Q4 FY'21 and full year FY'21 excludes the impact of one-time milestone bonus paid to employees (USD 78.8 million, Rs 575 crore net of tax) and the DTL (Deferred Tax Liabilities) on Goodwill impact in the tax expense (USD 165.1 million, Rs 1,222 crore) in Q4 FY'21," a company statement said. These one-time aspects in Q4FY21 had depressed the net profit numbers. For the full year FY22, the net income stood at Rs 13,499 crore against Rs 11,145 crore in the previous fiscal. The revenue for the entire fiscal up to March 31, 2022 was Rs 85,651 crore, up from Rs 75,379 crore in FY21. "We have delivered yet another stellar quarter in our services business, where the revenue is up 5 per cent quarter-on-quarter, up 17.5 per cent year-on-year in constant currency," Vijayakumar said. The company's board has declared an interim dividend of Rs 18 per equity share of Rs 2 each for 2022-23. "Our board is happy to announce a dividend of Rs 18 per share for the quarter, taking the payout for the year to Rs 44 per share..., 88.4 per cent of EPS (Earning Per Share), higher than guided range of 75 per cent," Prateek Aggarwal, Chief Financial Officer at <keyword id="13640296" type="DOMAIN" weightage="20" keywordseo="HCL-Technologies-Ltd-" source="BI" sourcekeytype="stcompany" meta.aliasname="HCL Technologies Ltd." meta.entityname="HCL Technologies Ltd." meta.entityid="INE860A01027" meta.seoname="hcl-technologies-ltd">HCL Technologies Ltd,</keyword> said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/niti-aayogs-draft-battery-swapping-policy-for-evs-explained-key-recommendations-and-what-it-means/articleshow/90981138.cms">Niti Aayog’s draft battery swapping policy for EVs explained – key recommendations and what it means</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-startups-have-already-laid-off-over-5700-employees-in-the-last-four-months/slidelist/90980198.cms">Indian startups have already laid off over 5,700 employees in the last four months</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/analysts-up-mukesh-ambanis-ril-target-price-by-over-20/articleshow/90981139.cms">Analysts up RIL’s target price by over 20% on the belief that it is best positioned to capitalise on the country’s hydrogen adoption plans</a>

HCL Tech reports over three-fold rise in net profit at ₹3,593 crore

<ul><li>If you plan for your financial goals, you can start investing even with small amounts this Diwali.</li><li>Here are five <keyword id="381673" type="General" weightage="20" keywordseo="investment-options" source="Orion">investment options</keyword> that may be suitable to all investors to start their financial planning.</li><li>Check out <a href="https://www.businessinsider.in/">Business Insider </a>for latest updates.</li></ul>Many of us receive bonuses from our workplaces and some money as gifts from our close relatives on Diwali, which is usually spent on things like buying crackers or sweets. Instead of spending a huge amount of money on such things, there are several investment opportunities you can tap into, this festive season. Here are five investment options that may be suitable to all investors to start their financial planning. <keyword id="35471" type="General" weightage="20" keywordseo="sip" source="Orion">SIP</keyword> Systematic investment plan (SIP) is a way to invest in mutual funds wherein one invests a fixed amount of money on a pre-decided date every month or quarter. The idea is to bring stability to your financial goals with steady investments periodically. The amount collected lets you purchase a certain number of units in a chosen fund like equity, debt, hybrid and so on. With SIPs, investors can create huge savings in the long run as they get to invest in the fund during the highs and lows. To make it hassle-free, investors can also give a standing instruction to their bank to transfer the amount directly from your bank account into the chosen <keyword id="6354820" type="General" weightage="20" keywordseo="mutual-fund" source="Orion">mutual fund</keyword> SIP on a fixed date every month or quarter. IPO Initial public offering (<keyword id="35156" type="General" weightage="20" keywordseo="ipos" source="Orion">IPOs</keyword>) is basically stock offered by private companies to investors in order for them to go public and list their shares on exchanges. While it is true, IPOs are becoming a very attractive market opportunity for retail investors, one also needs to pick IPOs after proper research. Investors can buy one lot of IPO shares for around ₹14,000. So far, 64 IPOs have been listed on the BSE in 2021 with most of them opening with positive returns on listing day. Further, many companies have lined up for the market regulator’s approval to list their shares. Investors are awaiting companies like Life <keyword id="35450" type="General" weightage="20" keywordseo="insurance" source="Orion">Insurance</keyword> Corporation (LIC), Paytm, Nykaa, PharmEasy, MobiKwik to open their IPOs this year. Gold While buying gold is common in festivals like Dhanteras during the Diwali week, <a href="https://www.businessinsider.in/stock-market/news/titan-kalyan-jewellers-and-other-jewellery-stocks-rally-in-last-one-month-on-high-bullion-prices/articleshow/87156003.cms">demand </a>for gold has risen with the increasing gold prices. With the wedding and festive season on the go, demand for gold has got a boost. One of the leading jewellery companies, Titan, <a href="https://www.businessinsider.in/stock-market/news/shares-of-titan-surge-10-entering-the-2-trillion-club-as-festivities-pent-up-demand-for-gold-jewellery-watches/articleshow/86832311.cms">confirmed </a>that there has been a strong comeback in gold demand in the last three months. Meanwhile, one can also buy digital gold and avoid possession of physical gold through several investment platforms like Google Pay, Paytm, Groww and even on Tanishq website. Insurance With growing uncertainties in our lives, having an insurance policy that protects your expenses during difficult times is a must. If you have not bought yet, now is the time. Life insurance provides financial cover for a contingency linked with human life, like death, disability, accident, retirement etc. Meanwhile, a general insurance company offers insurance policies to secure health, travel, motor vehicles, and home. It is important to have an insurance policy as it ensures financial security in case of any accident in life. Public Provident Fund PPF is one of the safest investment options to start with that can help you secure your retirement. The PPF has a minimum tenure of 15 years with as little as ₹500 to open an account. You can open a PPF account through the post office or in any nationalised bank. Moreover, income tax exemptions are applicable on the principal amount invested in a PPF account. The interest rate for PPF is set and paid by the government for every quarter which is currently at 7.1%, more than the savings rate in banks. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bharti-airtel-future-retail-ril-and-other-stocks-to-watch-out-for-on-october-21-as-markets-remain-cautious/slidelist/87174559.cms">Bharti Airtel, Future Retail, RIL and other stocks to watch out for on October 21 as markets remain cautious</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/amazon-prime-subscription-will-soon-cost-you-up-to-50-more/articleshow/87175961.cms">Amazon Prime subscription will soon cost you up to 50% more</a>

Five ways to invest money saved on crackers this Diwali

There is growing concerns amidst shareholders over <keyword id="6355199" type="CITY" weightage="80" keywordseo="Reliance-Industries">Reliance Industries</keyword>’ investment in ventures such as media and telecom, especially over its recent gesture to give loans to media firm NDTV. Shareholders at the recent annual general meeting in Mumbai demanded to know the rationale behind such <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword> and loans, according to a Press Trust of India (PTI) report. RIL shares, once the darling of the stock market, have languished in recent years as production from the KG-D6 gas fields fell and the government became increasingly reluctant to increase the price of commercial gas. In the last one year, they have fallen 4.6% compared with the benchmark Sensex's 10.8% gain. Moneylife magazine has revealed details of the loan to NDTV in an article which points out that an RIL affiliated arm Viswapradhan Commercial Pvt Ltd gave a loan of Rs 350 crore to promoters of NDTV through convertible warrants in 2009. These warrants give the lender, (Reliance or the Ambani family) the power to convert at any time during the tenure of the loan or thereafter into equity shares of the NDTV holding company. The two partners planned to find a buyer for NDTV for 3-5 years. Since the sale has not fructified, NDTV is effectively owned by the <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> company, the article concludes. The PTI reported that at the annual general meeting shareholders were upset with Reliance' dividend policy even as it continues to make these unrelated investments. Chairman Mukesh Ambani assured shareholders that the company would reward investors with a combination of dividend, bonus and buyback once it completes its ongoing investment cycle. 

	But shareholders continued to raise questions over return on shares and the company's investment decisions. Ambani chose not to reply to the questions from shareholders as is the practice at AGMs, stating that the company will answer shareholders through direct correspondence. 
 

	Some shareholders demanded that the next dividend payout should at least be 150%, while some demanded bonus debentures in the interim as the share prices of RIL continued to be low when it ideally should be priced at around Rs 5,000 a piece, PTI reported. 
 
 

	A Reliance Industries spokesperson did not reply to an email questionnaire on the issue. 
 Some RIL investors also expressed concerns over continuing losses of its media arm - 17 news channels under Network18 and 14 GEC channels, along with their e-commerce and publishing arms. PTI reported that an investor questioned the rationale behind the company giving an interest free loan of Rs 350 crore to <keyword id="201527" type="COMPANY" weightage="100" keywordseo="NDTV-Group">NDTV Group</keyword> even as it already has these many channels and also queried about the fate of this investment. 
	 
	(image credits: )

You Searched For "RIL bonuses" and got 12 results

Reliance Industries cuts employee salaries by up to 50%, freezes bonuses ⁠— Chairman Mukesh Ambani will forgo full compensation

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