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<ul><li><keyword id="6355199" type="General" weightage="20" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>’ shares were trading at ₹2,510 at 9:44 a.m., surpassing the previous high of ₹2,478. </li><li>The Mukesh Ambani-led conglomerate’s market capitalisation touched ₹16.9 lakh crore.</li><li>Separately, ICICI Direct had issued a hold call on Reliance Industries shares with a target price of ₹2,480 last week.</li></ul>Shares of Reliance Industries have been on a growth trajectory for over a year now and hit an all-time high on Monday, September 27, after it crossed the ₹2,500-mark. The Mukesh Ambani-led conglomerate’s market capitalisation touched ₹16.9 lakh crore. The company’s shares were trading at ₹2,510 at 9:44 a.m., surpassing the previous high of<a href="https://www.businessinsider.in/stock-market/news/mukesh-ambani-enters-100-billion-club-as-ril-stock-hits-a-record-high/slidelist/85969961.cms"> ₹2,478 on September 6</a>, 2021. RIL's shares closed at ₹2,524.45 on Monday. The stock rose as much as 25% in the last one year. The scrip has been gaining for the fourth consecutive session. <div type="image" title="Reliance Industries’ shares hit record high, trading at over ₹2500 in early morning trade" msid="86548050" hostid="261"></div>Separately, ICICI Direct <a href="https://bsmedia.business-standard.com/_media/bs/data/market-reports/equity-brokertips/2021-09/16322856470.31434600.pdf">issued</a> a hold call on Reliance Industries shares with a target price of ₹2,480 last week on September 22. The company's shares were then trading at ₹2,425. The analysts at ICICI Direct expected Reliance Industries to achieve the price point in a span of one year. Reliance Jio’s positioning in the digital ecosystem, Reliance Retail's aggressive store network expansion, the potential of oil-to-chemical (O2C) business to be segregated into a separate entity and the company’s upcoming investments in new energy initiatives were likely to trigger these future price performance, as per ICICI Direct. “Long term prospects and dominant standing of RIL in each of its product and service portfolio, provides comfort for long term value creation. RIL’s consumer business will be the growth driver, going ahead. The company has a strong balance sheet post fundraising while its traditional business will continue to generate steady cash flows. We initiate coverage on the stock with a HOLD recommendation,” the report reads. Reliance Industries ended the second quarter of 2021 — April to June — with a consolidated income of ₹1,48,591 crore, representing nearly 6% decline from ₹1,58,133 crore reported in the previous quarter. The company’s net profit also fell to ₹12,273 crore from ₹13,227 crore in the previous quarter. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/zee-entertainment-shares-fall-in-todays-trade-as-invesco-insists-the-board-to-hold-egm-before-sony-deal/articleshow/86546922.cms" data-type="tilCustomLink">Zee Entertainment shares fall 3% in today’s trade as Invesco insists the board to hold EGM before Sony deal</a> <a href="https://www.businessinsider.in/business/startups/news/ofbusiness-was-the-only-woman-led-startup-that-entered-the-unicorn-club-this-year/articleshow/86511076.cms">OfBusiness was the only woman led startup that entered the unicorn club this year</a> <a href="https://www.businessinsider.in/business/auto/news/teslas-full-self-driving-beta-programme-request-button-goes-live/articleshow/86525543.cms">Tesla's 'Full Self Driving' Beta programme request button goes live</a>

Reliance Industries’ shares hit record high, trading at over ₹2500

<ul><li>At 7:50 am, the SGX Nifty was up 0.15%, indicating a positive 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>Indian stock-market indices are likely to open in green on Wednesday, led by positive cues from the global markets. At 7:50 am, the SGX Nifty was up 0.15%, indicating a positive start for Nifty50. On Tuesday, the US stocks surged to a fresh lifetime-high as investors cheered the transition to the Biden administration. The Dow Jones Industrial Average scaled the 30,000 mark for the first time ever, and the S&amp;P 500 ended up 1.62%. These are the stocks to watch out for during the trading session today: RIL The telecom subsidiary Jio of Mukesh Ambani owned RIL has received the subscription amount of ₹33,737 crore from Google International LLC. Jio Platforms Limited has allotted equity shares to Google International, following which it now holds 7.73% of the fully-diluted equity share capital of Jio Platforms. The shares of RIL ended 1.04% higher on Tuesday. Muthoot Finance The RBI has turned down the proposal of Muthoot Finance to acquire IDBI Bank’s mutual fund business, saying sponsoring a mutual fund is not under the activity of an operating NBFC. According to a regulatory filing by IDBI Bank on Tuesday, a share purchase agreement with regard to the sale of IDBI Mutual Fund to Muthoot Finance was signed on November 22, 2019. The shares of Muthoot Finance ended 1.12% lower on Tuesday. Tata Chemicals Tata Chemicals announced that it had appointed N Chandrasekaran as an additional director and chairman of the board of directors of the company, effective November 24. Chandrasekaran also chairs the boards of several other Tata companies, including Tata Steel, Tata Motors, Tata Power, and Tata Consultancy Services (TCS). The shares of Tata Chemicals ended 3% higher on Tuesday. Lasa Supergenerics The Bombay High Court restrained Lasa Supergenerics competitors from manufacturing and dealing in Albendazole. It is one of the key products that make it a market leader worldwide. The shares of Lasa Supergenerics ended 6% higher on Tuesday. Glenmark The S&amp;P has affirmed Glenmark’s rating at BB- while the outlook has been revised to stable. The shares of Glenmark ended 0.24% higher on Tuesday. Ingersoll Rand India The Ingersoll Rand India OFS for non-retail investors was subscribed 2.73 times compared to the shares on offer. The shares of Ingersoll Rand India ended 7% lower on Tuesday. Sreeleathers The board of Sreeleathers approved buyback of up to 20 lakh shares worth ₹32 crore. The shares of Sreeleathers ended 0.64% higher on Tuesday. Hindustan Aeronautics The workmen unions of Hindustan Aeronautics at Bengaluru and Koraput Division have given notice of a nation-wide general strike on November 26. The shares of Hindustan Aeronautics ended 2.31% higher on Tuesday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/dow-climbs-310-points-as-investors-cheer-transition-to-biden-administration/articleshow/79392874.cms" data-type="tilCustomLink">Dow surges above 30,000 for the first time as investors cheer transition to Biden administration</a> <a href="https://www.businessinsider.in/stock-market/news/indian-stock-market-sensex-and-nifty-hit-record-high-some-experts-say-it-is-the-final-leg-of-the-vaccine-euphoria/articleshow/79389670.cms" data-type="tilCustomLink">Markets hit record high — some experts say it is the final leg of the vaccine euphoria</a>

Top stocks to watch — RIL, Ingersoll Rand, Muthoot Finance, Tata Chemicals, Glenmark, and others

<ul><li>A rights issue is an invitation to existing shareholders to buy more shares at a discount to the market price. </li><li>RIL's investors can subscribe to the right to own <a href="https://www.businessinsider.in/business/corporates/news/ril-rights-issue-ratio-pricing-and-value/articleshow/75474592.cms" data-type="tilCustomLink" target="_blank">one new share for every 15</a> held in the company at ₹1,257 per share, 14% below Thursday’s (April 30) closing price. </li><li>Even if you expect that RIL shares will be worth a lot more in the future, if the share falls to ₹1,257, or below, investors can buy the shares from the market instead of subscribing to the rights.</li></ul>The rights issue announced by one of India's most valued company, Reliance Industries (RIL), will have to conclude by the end of June, as declared by the company. The company owned by Asia's richest man, <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, plans to mop up ₹53,125 crore from shareholders. RIL's investors can subscribe to the right to own <a href="https://www.businessinsider.in/business/corporates/news/ril-rights-issue-ratio-pricing-and-value/articleshow/75474592.cms" data-type="tilCustomLink" target="_blank">one new share for every 15</a> held in the company at ₹1,257 per share, 14% below Thursday’s (April 30) closing price. A rights issue is an invitation to existing shareholders to buy more shares at a discount to the market price. <div type="Article" hostid="261" msid="75474592" title="Mukesh Ambani offers Reliance Industries shareholders 1 new share for every 15 held⁠— at a price 14% below market value" mstype="2" mssubtype="0"></div> How does it work? Since there will be more entering the market, the value of your existing shares will go down. That can be made up via additional shares via rights to make up for the fall. If you had 120 shares on Thursday (April 30), you will get rights to 8 new shares. Theoretically, if the value of RIL shares don't change, the value of 128 shares will be the same as the old 120 shares. While it is difficult to estimate the exact value of the total shareholding (after subscribing for rights)— since it can be affected by business and market factors — the theoretical price of each share can be calculated in the following manner. <table style="border-width: initial; border-style: none; background-color: rgb(255, 255, 255); font-size: 16px; line-height: 1.6em; box-shadow: none; width: 444pt; font-family: Merriweather; padding-bottom: 10px !important; background-image: inherit !important; background-position: inherit !important; background-size: inherit !important; background-repeat: inherit !important; background-attachment: inherit !important; background-origin: inherit !important; background-clip: inherit !important;"></colgroup><tbody><tr><td class="xl64" style="border-width: 1px; border-style: solid; border-color: rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt; width: 159pt;">Period</td><td class="xl65" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 98pt;">Shares </td><td class="xl65" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 116pt;">Price</td><td class="xl66" style="border-top: 1px solid rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; width: 71pt;">Value</td></tr><tr><td class="xl67" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt;">Before rights issue</td><td class="xl63" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">120 (assumed)</td><td class="xl63" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹1464 (April 30 closing)</td><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹175680</td></tr><tr><td class="xl67" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15pt;">Rights issue</td><td class="xl63" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">8 (1 share for every 15)</td><td class="xl63" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹1257 (set by company)</td><td class="xl68" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹10056</td></tr><tr><td class="xl69" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: 1px solid rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top; height: 15.75pt;">Post rights issue</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">128 (sum)</td><td class="xl70" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹1451.06*</td><td class="xl71" style="border-top: none rgb(221, 221, 221); border-right: 1px solid rgb(221, 221, 221); border-bottom: 1px solid rgb(221, 221, 221); border-left: none rgb(221, 221, 221); padding: 5px; font-size: 16px; vertical-align: top;">₹185736 (sum)</td></tr></tbody></table> The above calculation assumes that <keyword id="4347449" type="PERSON" weightage="20" keywordseo="RIL-share-price">RIL share price</keyword> doesn't change, which will never happen. So, in fact, you might gain or lose money. Should I subscribe to the rights issue? Depends on the price. Even if you expect that RIL shares will be worth a lot more in the future, if the share falls to ₹1,257, or below, investors can buy the shares from the market instead of subscribing to the rights. The gap between the market price of each RIL share tomorrow and ₹1,257 will be the gain from the additional shares that you get from the rights issue. If the share price falls on Monday (May 3) and the closer it gets to ₹1,257, it will make lesser sense for investors to subscribe to the rights because the room for gains will shrink. How does it affect the company? RIL is expected to use the money received from subscriptions to the rights issue to repay debt. So, the lesser it makes, lesser the debtit can repay. <div type="image" title="ril share price (1)." msid="75518412" hostid="261" caption="&amp;lt;p&amp;gt;RIL is expected to use the money received from subscriptions to the rights issue to repay debt. So, the lesser it makes, lesser the debt&amp;lt;strong&amp;gt; &amp;lt;/strong&amp;gt;it can repay.&amp;lt;/p&amp;gt;"></div> What if the share price falls and shareholders don't subscribe to the rights issue? "The promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the Issue,” Reliance Industries said in a statement. This means, Mukesh Ambani and his family, who own roughly 50% of RIL will subscribe to all the shares they can under the proposed rights issue, which means the promoters will have to cough up about ₹26,500 crore. They will also have to fill in for any shortfall in demand for rights from other shareholders. Lesser the subscription, more money the promoters will have to put in. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retails-operating-profit-grows-nearly-20-in-the-latest-fourth-quarter/articleshow/75474722.cms">Reliance Retail’s operating profit grows nearly 20% in the latest fourth quarter⁠⁠</a> <a href="https://www.businessinsider.in/stock-market/news/tech-mahindra-shares-are-cheap-despite-the-earnings-disappointment-says-a-research-report/articleshow/75515809.cms" data-type="tilCustomLink" target="_blank">Tech Mahindra shares are cheap despite the earnings disappointment, says a research report</a> <a href="https://www.businessinsider.in/business/news/hul-fourth-quarter-earnings-report-volume-growth-and-share-price-chart/articleshow/75472021.cms">HUL fourth-quarter volume growth down 7%, profit falls 1%, India sales slide 9% ⁠— as COVID-19 strikes India’s largest consumer firm</a>

Here's how Reliance Industries right issue may affect the share price

<ul><li>The shares of Reliance Industries and Future Retail cracked 2% and 6% during the early trading hours on Monday. </li><li>The Singapore-based single judge arbitration panel asked Future group to stall its retail business deal with RIL until the arbitration panel decides on it.</li><li>The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. </li></ul>The shares of Reliance Industries and Future Retail cracked 2% and 6%, respectively, after a Singapore-based single judge arbitration panel asked Future Group to stall its retail business deal with RIL. VK Rajah, the sole arbitrator in the Amazon vs Future vs Reliance arbitration case, while passing an interim award in favour of Amazon, asked the Future Group to put the retail deal with RIL on hold until the arbitration panel decides on the matter. <div type="image" title="Future Retail (1)" msid="78866017" hostid="261"></div> The decision also moved other Future Group stocks such as — Future Lifestyle Fashions trading 8% lower and Future Enterprises down nearly 5%, among others. <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/429a10df-fa77-4b60-b000-3f96e06719da.pdf">Future Retail (FRL) also informed investors </a>that it is examining the communication and the order. However it further added that Future Retail is not party to the agreement under which Amazon has invoked arbitration proceedings. “In any enforcement proceedings, FRL would take appropriate steps to ensure that the proposed transaction will proceed unhindered without any delay,” it said in a statement. Reliance Industries too intends to complete the transaction Mukesh Ambani-led Reliance Industries too said that it intends to enforce its rights and complete the transaction with Future Retail. Reliance Retail Ventures in a statement said that it has entered into the transaction for the acquisition of assets and business of Future Retail under proper legal advice and the rights and obligations are fully enforceable under Indian law. <div type="image" title="RIL" msid="78866026" hostid="261"></div> “RRVL intends to enforce its rights and complete the transaction in terms of the scheme and agreement with Future group without any delay,” RRVL said in a statement. What triggered the Amazon vs Future Group case? Earlier this month, e-commerce giant Amazon.com stepped in and said that Future Group violated a contract with it by entering into the sale agreement with the Mukesh Ambani-led retail major. This after Reliance Retail acquired Kishore Biyani’s Future Group in August for ₹25,000 crore in a<a href="https://www.businessinsider.in/retail/news/mukesh-ambani-reliance-retail-acquires-kishore-biyani-future-group-for-25000-crore-in-a-slump-sale/articleshow/77825144.cms"> slump sale.</a> Last year, Amazon acquired a 49% stake in Future Coupons, a Future group entity. And earlier this month, the e-commerce giant sent a legal notice over the Reliance-Future retail deal, saying that it had been <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-fights-for-its-rights-in-the-future-retail-reliance-deal-sends-legal-notice-to-the-kishore-biyani-group/articleshow/78547247.cms">denied the Rights of First Refusal </a>for the deal with Future Group. (with inputs from wire services) SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

RIL, Future Retail stocks under pressure after Singapore arbitration court rules in favour of Amazon

<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

<ul><li>The shares of <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> opened 2.14% lower.</li><li><keyword id="10926" type="COMPANY" weightage="20" keywordseo="Reliance">Reliance</keyword> had announced its financial results on April 30 (Friday) after markets closed.</li><li>Reliance’s revenue for the fourth quarter ended March 31, 2021 stood at ₹172,095 crore, while its net profit doubled to ₹14,995 crore.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Industries’ earnings seemed to disappoint the markets as its stocks fell by 2.14% at 9.16 am. <div type="image" title="RIL share price May 3" msid="82364522" hostid="261"></div> The fall in stock price comes even when RIL had managed to score profits in the middle of a pandemic. Reliance’s revenue for the fourth quarter ended March 31, 2021 stood at ₹172,095 crore, while its net profit doubled to ₹14,995 crore. But some of the company’ major focus areas seemed to be wearing off their sheen. While the oil to chemical vertical saw a growth of 4.5% in revenue, the profit shrunk by just as much despite a one-time gain of ₹4,420 crore from sale of its petrol pumps. Even the much talked about Reliance Jio reported a profit decline of nearly 4% with net profit of ₹3,508 crore. The company also cited the COVID-19 pandemic and its impact on its business as a factor it continues to consider. “The outbreak of coronavirus (COVID-19) pandemic globally and in India is causing significant disturbance and slowdown of economic activity. The Group’s operations and revenue during the period were impacted due to COVID-19,” the company said in a statement on Friday. For Ambani, the growth was led by Reliance Retail. The retail arm, of Reliance Industries, clocked a 50% growth in its profits to ₹3113 crore, while its revenue has grown by 21% to ₹46,099 crore in the months from January through March, compared to the same period, last year. Reliance also announced on Saturday that it produces over 1000 MT of medical grade liquid oxygen per day — or over 11% of India’s total production. This the company claims meets “the needs of nearly every one in ten patients”. “This oxygen is being provided free-of-cost to several state governments across the country to bring immediate relief to over 1 lakh patients on a daily basis,” said the company.

Reliance Industries’ earnings disappoint markets – stocks fall by over 2% in morning trade

<ul><li>The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat 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 mixed cues from the global markets, the Indian stock market is likely to open with a negative bias on Tuesday. The SGX Nifty was trading 0.04% lower at 7:51 am, indicating a flat start for Nifty50. Whereas, the US stocks ended the Monday higher as the tech stocks rallied amid the stimulus hopes. The Dow Jones Industrial Average closed 250.62 points higher; whereas the S&amp;P 500 was up over 1.6%. These are the stocks to watch out for during the trading session on October 13: Lakshmi Vilas Bank The private lender Lakshmi Vilas Bank (LVB) informed stock-exchanges that its board would meet on October 15 to consider a rights issue to raise capital up to ₹1,000 crore. The shares of Lakshmi Vilas Bank closed 5% lower yesterday. Reliance Industries The Mukesh-Ambani owned Reliance Jio became the first telecom company in India to cross 40 crore customers mark with the net addition of over 35 lakh subscribers in July, according to the telecom regulator TRAI data released on October 12. The shares of RIL closed 0.11% higher yesterday. Airtel and Vodafone The stocks of other telecom giants Airtel and Vodafone, will also remain in focus. As per the TRAI data, Vodafone Idea lost 3.7 million users, and Bharti Airtel added over 3.26 million wireless subscribers in July. The shares of Airtel and Vodafone closed nearly 3% lower yesterday. Infosys The IT giant Infosys has completed the acquisition of a US-based product design and development firm Kaleidoscope Innovation for about ₹308 crore. The company will also be posting its quarterly earnings tomorrow. The shares of Infosys closed 2.93% higher yesterday. SRF Limited The fluorochemicals, speciality chemicals manufacturing company SRF has set the floor price of its qualified institutional placement (QIP) at ₹4,168.73 per share. The shares of SRF Limited closed 2.67% higher yesterday. Shalby Multispeciality hospital chain Shalby reported a consolidated net profit of ₹24.5 crore in the second quarter ended September 30 compared to ₹12.9 crore year-on-year. However, the company’s overall revenue fell to ₹115.6 crore from ₹125.7 crore at the same time last year. The shares of Shalby closed 4% higher yesterday. Cipla The drug major Cipla said the company’s step-down associate firm Avenue Therapeutics Inc had received a complete response letter (CRL) from the US health regulator for its new drug application for intravenous tramadol. The letter stated that IV tramadol intended to treat patients in acute pain who require an opioid is not safe for the intended patient population. The shares of Cipla closed 1.81% higher yesterday. Wipro The tech giant Wipro is slated to announce its earnings for the second quarter ended September 30. The shares of Wipro closed 1.47% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/johnson-johnson-just-paused-its-coronavirus-vaccine-trials-after-an-unexplained-illness-in-a-participant/articleshow/78630971.cms" data-type="tilCustomLink">Johnson &amp; Johnson just paused its coronavirus vaccine trials after an 'unexplained illness' in a participant</a> <a href="https://www.businessinsider.in/tech/news/the-iphone-12-could-be-apples-most-important-product-release-in-the-last-decade/articleshow/78627338.cms" data-type="tilCustomLink">The iPhone 12 could be Apple's most important product release in the past decade</a>

Top stocks to watch — RIL, Airtel, Vodafone-Idea, Infosys, Wipro, Shalby, Cipla, and others

<ul><li>The 30-share BSE index was trading 301 points higher, and the broader NSE Nifty gained 0.64% on Tuesday at 10:07 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian equity indices opened at record highs on Tuesday, playing catch-up with overseas gains after a long weekend. News that US drugmaker Moderna’s coronavirus vaccine was 94.5% effective in preventing infection is adding to the gains on Dalal Street. The 30-share BSE index was trading 301 points higher, and the broader NSE Nifty gained 0.64% on Tuesday at 10:07 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BPCL </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hero Motocorp </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dr Reddy </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Tech </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td></tr></tbody></table>*as of November 17, 10:06 am These are the top stocks in news today. Tata Steel tops over 6% The shares of Tata Steel rallied over 6% hitting the 52-week high of ₹523. This came after the company in a separate statement informed stock-exchanges that it has plans with respect to its operations in Europe. The company has initiated discussions with Sweden-based SSAB on the potential sale of Tata Steel Netherland business, including Ijmuiden steelworks. Tata Steel said it has also initiated the process to separate Tata Steel Netherlands and Tata Steel UK and will pursue separate strategic paths for the Netherlands and the UK businesses in the future. BPCL plunges over 4% The shares of BPCL plunged over 4% even though it completed its first phase of the privatisation process on Monday with several suitors submitting Expressions of Interest (EoI) for the state-run oil major. However, Reliance Industries as well as supermajors Saudi Aramco, BP and Total did not make a bid for BPCL. Reliance Industries opened 4% higher The shares of Mukesh Ambani owned Reliance Industries’ opened 4% higher after its retail arm has picked up 96% stake in online furniture retailer<a href="https://www.businessinsider.in/retail/news/reliance-retail-acquires-urban-ladder-for-182-crore-at-a-sixth-of-the-startups-peak-valuation-in-2018/articleshow/79230550.cms"> Urban Ladder</a> for over ₹182 crore. The company said this acquisition would help Reliance Retail in bolstering its presence in the fast-growing e-commerce segment and widening the bouquet of consumer products provided by it as it looks to compete with e-commerce majors like Amazon and Flipkart. HDFC Asset Management Company gains over 2% The shares of HDFC Asset Management Company gained over 2% after its board of directors has approved the appointment of Navneet Munot as its next managing director and chief executive officer, succeeding Milind Barve. Munot was the chief investment officer of SBI Funds Management. NBCC India trades 2% higher The shares of state-owned construction firm NBCC opened 2% higher after the company said it had bagged business orders worth ₹1,165.52 crore last month. Larsen &amp; Toubro gain over 2% The shares of Larsen &amp; Toubro gained over 2% after the engineering and construction giant Larsen &amp; Toubro emerged as the lowest bidder for a ₹3,200 crore project to build a road bridge over the Brahmaputra river, according to an NHIDCL official. It will be one of the longest road bridges over a river in the country and on completion will connect two eastern states - Assam and Meghalaya. SEE ALSO:<a href="https://www.businessinsider.in/science/health/news/moderna-says-its-coronavirus-vaccine-is-94-5-effective-against-covid-19-a-crucial-victory-in-the-fight-against-the-pandemic/articleshow/79247349.cms" data-type="tilCustomLink"> Moderna says its coronavirus vaccine is 94.5% effective against COVID-19, a crucial victory in the fight against the pandemic</a> <a href="https://www.businessinsider.in/stock-market/news/dow-soars-375-points-to-near-record-as-modernas-vaccine-update-boosts-investor-optimism/articleshow/79249468.cms" data-type="tilCustomLink">Dow soars 450 points to new record as Moderna's vaccine update boosts investor optimism</a>

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