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<ul><li>Share price of <keyword id="6484187" type="General" weightage="20" keywordseo="ril" source="Orion">RIL</keyword> has doubled between the announcement of the deal and its recent peak on October 14.</li><li>In August 2019, the companies had signed a non-binding letter of intent for a potential 20% stake by Saudi Aramco in RIL.</li><li>On November 22, shares of RIL fell nearly 4% as the deal has been put on hold for now.</li></ul>The much anticipated deal between Reliance Industries (RIL) and Saudi Aramco has been <a href="https://www.businessinsider.in/business/news/reliances-15-billion-deal-with-saudi-aramco-has-been-called-off/articleshow/87811630.cms">put on hold</a> and the disappointment of investors is being reflected in the share price of RIL. Both the companies, on November 20, decided to re-evaluate the proposed investment of Saudi Aramco in <keyword id="3820" type="General" weightage="20" keywordseo="mukesh-ambani" source="Orion">Mukesh Ambani</keyword>’s oil-to-chemical conglomerate. Meanwhile, shares of RIL have doubled between the announcement of the deal and its recent peak on October 14. <div type="image" title="ril char" height="900" width="1200" msid="87842195" hostid="261"></div> In August 2019, both the companies had signed a non-binding letter of intent for a potential 20% stake by Saudi Aramco in RIL. Five instances when RIL and Saudi Aramco gave investors hope of a big ticket deal <ul><li>August 2019</li></ul>RIL and Saudi Aramco signed a non-binding letter of intent in August 2019 for a potential 20% stake acquisition by Saudi Aramco in the oil-to-chemical business. <ul><li>August 2020</li></ul>In a post-earnings call of Saudi Aramco with analysts, its chief executive Amin Nasser said, "With regard to the Reliance deal, all I can say at this stage, it's going through due diligence. So, depending on the due diligence, we will make our decision after we complete the due diligence on that deal," said Nasser. <ul><li>June 2021</li></ul>Mukesh Ambani announced that the proposed deal with Saudi Aramco will likely be finalised this year during the 44th Annual General Meeting (AGM) on June 24. “As an important part of this vision of achieving accelerated growth, we look forward to welcoming Saudi Aramco as a strategic partner in our O2C business," said Ambani. <ul><li>July 2021</li></ul>Investors' hopes of a deal to happen soon were raised after RIL appointed Saudi Aramco’s Chairman Yasir Al-Rumayyan as an independent director of the company effective from July 19, 2021. <ul><li>August 2021</li></ul>CEO of Saudi Aramco Amin Nasser said the company is still working on the deal to invest in Reliance Industries, as reported by Bloomberg. However, RIL clarified that it will continue to be Saudi Aramco's preferred partner for investments in the private sector in India and will collaborate with Saudi Aramco &amp; SABIC for investments in Saudi Arabia. Saudi Aramco is one of the largest petroleum and natural gas companies in the world, based in Dhahran, while SABIC (Saudi Basic Industries Corporation), a subsidiary of Saudi Aramco, is into chemical manufacturing. Analysts at JP Morgan <a href="https://twitter.com/CNBCTV18Live/status/1462596690041470984/photo/1">reportedly </a>said that the development is a “clear sentiment negative”, but will have limited impact on RIL’s financials. Besides, a significant deleveraging (debt reduction) has already been done by the oil-to-chemical major, which is positive, according to JP Morgan. The global brokerage firm has a ‘neutral’ rating on the stock as it expects the share price to rise 7% at ₹2,575. Besides, RIL has shifted its focus to its new energy business at Jamnagar, which it aspires to make it among the largest integrated renewable energy manufacturing facilities in the world. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/paytm-has-lost-8-billion-in-valuation-in-two-days-of-listing/articleshow/87840891.cms">Paytm has lost $8 billion in valuation in two days of listing</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/airtels-popular-prepaid-plans-may-now-cost-you-up-to-25-more/articleshow/87840177.cms">Airtel’s popular prepaid plans may now cost you up to 25% more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sensex-tanks-over-400-points-in-early-trade-nifty-trading-at-17764-reliance-industries-maruti-bajaj-finance-kotak-bank-and-bajaj-finserv-top-losers/articleshow/87841278.cms">Sensex tanks over 400 points in early trade, Nifty trading at 17,764 — Reliance Industries, Maruti, Bajaj Finance, Kotak Bank and Bajaj Finserv top losers</a>

Reliance Industries’ investors dump shares after Mukesh Ambani's Aramco deal fails after 27 months of negotiations

New Delhi, Oil sector public sector undertakings (PSUs) may have to bear a <keyword id="9705803" type="UNKNOWN" weightage="20" keywordseo="larger-share">larger share</keyword> of <keyword id="10488841" type="UNKNOWN" weightage="20" keywordseo="additional-dividend-payment">additional dividend payment</keyword> to the government this year with almost all companies falling behind on their capex plan for the current fiscal. As of November, the capex of PSU oil companies put together stands at ₹46,303 crore, less than 50% of the annual target of ₹98,522 crore. The government has asked companies to complete at least 75% of capex till the end of December quarter. But this looks highly unlikely now pushing the case for higher dividend payout. In meetings with PSUs, Finance Minister Nirmala Sitharaman had stressed on the need for PSUs to step up <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword> during the time of the pandemic to boost overall sentiments and kickstart investment climate in the country. She had specifically urged companies to complete at least 75% of capex target by December-end and more than 100% by March. "It is a double whammy for PSUs now. They have to cough up more either through investments or through payment of additional dividends. It should also be seen that the companies are finding it difficult to meet capex targets given financial and project implementation constraints. Covid has severely dented demand and slowed project implementation. Consequently, there is already a strain on their resources that would get heightened as additional dividend would have to be paid," said a top official of a PSU, asking not to be named. While almost all PSUs are facing delays and difficulties in stepping up the gas and increasing investments, the situation among companies in the oil and gas sector looks worse. Slow demand conditions in early part of the year resulted in slowing of several capex plans. Though the situation has improved from November onwards, still its a long way to go for normalcy to return in the sector. For the government, oil sector PSUs are also set to make big inventory gains due to firming up of crude prices, and hence they are being looked at for higher interim dividend or special dividend and a few may also be considered for share buyback depending on market conditions. Among the oil and gas PSUs, the worse performer in terms of capex spend is the country's largest oil and gas explorer ONGC and largest public sector refiner <keyword id="6356834" type="DOMAIN" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword>. According to oil ministry's <keyword id="819806" type="COMPANY" weightage="20" keywordseo="Petroleum-Planning-and-Analysis">Petroleum Planning and Analysis</keyword> Cell (PPAC), while ONGC had completed just ₹14,959 crore worth of capex upto November out of FY21 investment target of ₹32,502 crore, IOC's capex upto November is ₹12,104 crore against annual target of ₹26,233 crore. Similarly, HPCL has completed capex of ₹5,658 crore (upto November) against target of ₹11,500 crore; Gail India - ₹2,614 crore against annual target of ₹5,412 crore; Oil India - ₹2,136 crore vs ₹3,877 crore target; MRPL - ₹631 crore vs ₹1,150 crore, OVL - ₹3,765 crore vs ₹7,235 crore. Among the worst performer on capex is privatisation-bound <keyword id="155363" type="DOMAIN" weightage="20" keywordseo="Bharat-Petroleum-Corporation-Ltd">Bharat Petroleum Corporation Ltd</keyword> (BPCL) which has spent just ₹3,716 crore against target of ₹9,000 crore. Officials sources said that PSUs with stock prices higher than the book value and who have sufficient cash funds may also be asked to shell higher dividend in FY21. A call will be taken after the third quarter results of companies are declared late January or early February next year. With the central government being the largest shareholders in PSUs, higher dividend would largely help it to fill its coffers at a time when revenue is constrained due to a overall fall in economic activity during the pandemic while expenditure has risen sharply. Dividend from non-financial PSUs have been budgeted at ₹65,747 crore in FY21. Any increase in this will give a boost to non-tax revenue of the government and help its bridge the rising fiscal deficit that as per initial estimate is now pegged close to 8% of GDP. Finance Minister Nirmala Sitharaman and her predecessors, including the late Arun Jaitley and P. Chidambaram, had maintained the policy of advising non-financial state-owned companies that if they are not utilising their cash reserves for capex needs, they should give it to the Centre through dividends or share buybacks. As per the guidelines issued by disinvestment department DIPAM, every CPSE is required to pay a minimum annual dividend of 30% of PAT or 5% of the net-worth, whichever is higher. Apart from oil sector, several PSUs in power and mining space have completed just about 40% annual capex by November due to constrained business environment. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a> <a href="https://www.businessinsider.in/careers/news/ey-is-looking-to-hire-9000-techies-in-2021-to-boost-its-digital-services/articleshow/79936576.cms">EY is looking to hire 9,000 techies in 2021 to boost its digital services</a>

Revenue constrained government may push oil PSUs short on FY21 capex to pay higher dividend

<ul><li>At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid 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 start subdued on Friday, led by mixed cues from the global markets. At 7:45 am, the SGX Nifty was down 0.18%, indicating a tepid start for Nifty50. However, the <a href="https://www.businessinsider.in/stock-market/news/us-stocks-climb-as-900-billion-stimulus-deal-appears-imminent/articleshow/79782556.cms">US stocks gained on Thursday</a> and marched toward record highs as a $900 billion fiscal stimulus bill to hasten the economic recovery from the COVID-19 pandemic appeared imminent. The Dow Jones Industrial Average closed 0.49% higher, and the S&amp;P 500 was up 0.58%. These are the stocks to watch out for during the trading session today: RIL The Supreme Court has asked Reliance Industries (RIL) to deposit ₹250 crore, which is 50% of the disgorged amount of ₹447.27 crore, as per the orders of the Securities Appellate Tribunal in a case related to the sale of Reliance Petroleum (RPL) shares. Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks Bharat Dynamics, Hindustan Aeronautics, Bharat Forge and other defence stocks will be in focus during the trade today. The defence acquisition council headed by Union Minister Rajnath Singh approved the capital acquisition of various weapons/platforms/equipment/systems required by the Army, the Navy and the Air Force at an approximate overall cost of ₹28,000 crore. HCL Tech, Infosys, TCS and other IT stocks HCL Tech, Infosys, TCS and other IT stocks will be in focus during the trade. The consulting and outsourcing services provider Accenture has raised its full-year sales forecast and beat quarterly revenue estimates on December 17. Tata Consultancy Services’ (TCS) The ₹16,000 crore share buyback programme of Information technology (IT) major Tata Consultancy Services’ (TCS) will open today (December 18). And, the offer will remain open till January 1. Zee Entertainment The board of Zee Entertainment Entertainment (ZEEL) has approved the acquisition of film production and distribution business from Zee Studios, a wholly-owned subsidiary of the former for a cash consideration of ₹275 crore. BPCL Privatisation-bound Bharat Petroleum Corporation (BPCL) board has approved buying out Oman Oil Company’s stake in the Bina refinery project in Madhya Pradesh on mutually agreeable terms. The BPCL board at its meeting on Thursday also approved merging Bharat Gas Resources (BGRL) with itself, the company said in a filing to the stock exchanges. Godrej Agrovet The Government of Telangana has allotted an area measuring up to 28,164 hectares in the Mahabubabad District of Telangana to Godrej Agrovet, for the purpose of oil palm cultivation. Canara Bank The Life Insurance Corporation of India has acquired 6.28 crore shares of Canara Bank through the qualified institutional placement, taking its total shareholding in the bank to 8.35% from 4.53%. Dishman Carbogen Dishman Carbogen promoter will sell a 4.4% stake in the company via offer for sale on December 18 and 21 at a set floor price of ₹145.70 per share. SpiceJet SpiceJet would start 30 new domestic flights in a phased manner from next week. Among the 30 flights from Sunday, six will connect Darbhanga in Bihar with Ahmedabad, Pune and Hyderabad, the airline said. PVR The board of cinema hall giant PVR will meet today to discuss its fundraising plans. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms" data-type="tilCustomLink">Burger King's IPO investors tripled their money in three days</a> <a href="https://www.businessinsider.in/business/news/india-has-a-hot-new-debate-on-its-plate-should-the-likes-of-burger-king-kfc-and-mcdonalds-menus-mention-calories/articleshow/79771040.cms" data-type="tilCustomLink">India has a hot new debate on its plate: Should the likes of Burger King, KFC and McDonald’s menus mention calories?</a>

Top stocks to watch — RIL, TCS, HCL Tech, Zee Entertainment, BPCL, Bharat Dynamics, HAL, Bharat Forge, and others

<ul><li>At 7:40 am, the SGX Nifty was up 0.48%, indicating a higher 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 Monday, led by positive cues from the Asian peers. At 7:40 am, the SGX Nifty was up 0.48%, indicating a higher start for Nifty50. Other Asian markets were also trading in the positive trajectory — the Shanghai Composite Index was up 0.43%, and Australian ASX was up 0.45%. These are the stocks to watch out for during the trading session today: Bank stocks will be in focus RBI panel’s recommendations will keep the banking sector in focus in trade today. The central bank’s Internal Working Group (IWG) <a href="https://www.businessinsider.in/finance/banks/news/rbi-panel-proposes-raising-promoter-stake-cap-allowing-nbfcs-to-become-banks-and-large-corporation-can-own-banks/articleshow/79323107.cms">has proposed 12 changes to ownership</a> guidelines and corporate structure for Indian private sector banks. Watch out for bank stocks and NBFCs in trade today. RIL and Future Retail The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The ₹24,713 crore deal that would boost Reliance Industries' fast-growing retail business was announced in August. Meanwhile, the legal tussle between e-commerce major Amazon, Future Group and Reliance regarding the deal is still in the court. The shares of Reliance Industries ended 4% lower on Friday. Whereas, Future Retail gained over 4%. HDFC Bank India's largest private sector lender <a href="https://www.businessinsider.in/tech/apps/news/hdfc-banks-net-banking-upi-services-and-atms-down-due-to-data-centre-outage/articleshow/79344484.cms">HDFC Bank's entir</a>e payment stack went down on November 21, leading to a temporary halt in its operations. The bank on November 22, however, informed that the services have been restored and said an unexpected outage at one of its data centres led to the transaction failures. The shares of HDFC Bank ended 2% higher on Friday. BEML BEML, a Bengaluru-based public sector undertaking, has bagged orders worth ₹501 crore from Delhi Metro Rail Corporation Limited (DMRC) for additional transfer of six cars, each to operate online 2Band 7 of the Mumbai Metro project. The shares of BEML ended flat on Friday. Bharti Airtel Bharti Airtel on Friday announced that it would acquire 5.2% stake in solar power company Avaada MHBuldhana for ₹4.55 crore in an all-cash deal. Avaada MHBuldhana is working to develop a captive generating solar power plant in Maharashtra, which will become operational by March 2021. The shares of Bharti Airtel ended over 3% higher on Friday. IIFL Securities The Board of IIFL Securities at its meeting held on November 20 has approved buyback of company's shares for an aggregate cash consideration of ₹90 crore, at a price not exceeding ₹54 per share. The shares of IIFL Securities ended nearly a percent lower on Friday. Punjab National Bank Reserve Bank of India has imposed a penalty of ₹1 crore on Punjab National Bank for violating regulatory guidelines. The shares of Punjab National Bank ended nearly a percent lower on Friday. Petronet LNG Petronet LNG has signed a non-binding MoU with the Ministry of Petroleum &amp; Natural Gas with an objective to foray into 'Green Energy and BioFuels' and for setting up of compressed BioGas plants under Sustainable Alternative Towards Affordable Transportation (SATAT) initiative of the Government. The shares of Petronet LNG ended 2% higher on Friday. Future Consumer The board of Future Consumer has allotted 4.95 crore shares to International Finance Corporation and 1.64 crore shares to Verlinvest SA, consequent to the conversion of compulsorily convertible debentures and outstanding coupons thereon. The shares of Future Consumer ended 4% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-pharmacy-is-going-to-be-the-first-big-test-of-public-trust-in-prime-and-will-expose-the-company-to-more-scrutiny/articleshow/79353327.cms">Amazon Pharmacy is going to be the first big test of public trust in Prime and will expose the company to more scrutiny</a> <a href="https://www.businessinsider.in/india/news/moderna-covid-19-vaccine-to-cost-govts-25-37-per-dose-ceo/articleshow/79353606.cms" data-type="tilCustomLink">Moderna Covid-19 vaccine to cost govts $25-$37 per dose: CEO</a>

Top stocks to watch — RIL, Future Retail, Kotak Mah Bank, Bajaj Finance, Ujjivan, Airtel, Future Consumer, HDFC, PNB, BEML, and others

<ul><li>At 7:50 am, the SGX Nifty was down 0.23%, indicating a tepid 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 flat on Tuesday, on the back of mixed cues from the global peers. At 7:50 am, the SGX Nifty was down 0.23%, indicating a tepid start for Nifty50. Vaccine trial hopes are boosting global markets. US stocks soared as Moderna’s vaccine update <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">shows its coronavirus vaccine is 94.5% effective against COVID-19</a>. The Dow Jones Industrial Average closed 470 points higher, and the S&amp;P 500 closed 1.16% higher. These are the stocks to watch out for during the trading session today: Reliance Industries India’s richest man Mukesh Ambani-owned Reliance Industries’ 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. The shares of Reliance Industries ended 1.09% higher on Saturday. Future Retail Amazon is seeking to control <a href="https://www.timesnownews.com/business-economy/companies/article/amazon-seeks-control-of-rs-30k-crore-future-group-assets-with-rs-1431-crore-investment/682460">100% of Future Retail by controlling the entire Kishore Biyani’s Groups majority equity</a> in FRL, which means with an investment of ₹1,431 crore, it seeks to control Future Groups assets worth about ₹30,000 crore. The shares of Future Retail ended flat on Saturday. BPCL The much-anticipated privatisation process of the Bharat Petroleum Corporation (BPCL) completed its first phase on Monday with several suitors submitting Expressions of Interest (EoI) for the state-run oil major. The transaction will move to the second stage after scrutiny by the transaction adviser, according to a tweet from the Secretary of the Department of Investment and Public Asset Management (DIPAM). The shares of BPCL ended 5% higher on Saturday. Wipro The global information technology giant Wipro and SNP Schneider-Neureither &amp; Partner SE announced a strategic partnership to help customers accelerate their enterprise transformation journey. As part of the partnership, Wipro will leverage SNP’s CrystalBridge data transformation platform and the Bluefield approach to provide customers worldwide with a flexible, fast and secure migration to SAP S/4HANA, a statement said. The shares of Wipro ended 0.10% higher on Saturday. Larsen &amp; Toubro Engineering and construction giant Larsen &amp; Toubro has 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. The shares of Larsen &amp; Toubro ended 1% lower on Saturday. NBCC The state-owned construction firm NBCC on Monday said it had bagged business orders worth ₹1,165.52 crore last month. The shares of NBCC ended 0.4% lower on Saturday. PVR The cinema giant PVR has launched a new single screen cinema in Lucknow, and opened three new screens in Faridabad. The shares of PVR ended 0.5% higher on Saturday. 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>

Top stocks to watch — RIL, Future Retail, BPCL, Wipro, L&T, and others

<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>The 30-share BSE index Sensex was up 0.51%, and the NSE Nifty was trading 0.55% higher at 9:50 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 benchmark indices jumped over 200 points in early trade on Friday, led by gains in index-heavyweights Reliance Industries, TCS, and HCL Tech. The 30-share BSE index Sensex was up 0.51%, and the NSE Nifty was trading 0.55% higher at 9:50 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;">IOC </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 Finance </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;">Coal India </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;">Eicher Motors </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;">BPCL </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;">Maruti </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;">NTPC </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;">HUL </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;">Adani Ports </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;">Power Grid </td></tr></tbody></table>*as of October 30, 10:00 am These are the top stocks in news today. <keyword id="46156" type="CITY" weightage="20" keywordseo="TVS-Motor">TVS Motor</keyword> gains over 4% The shares of TVS Motor gained over 4% after the company registered a growth of 6% in its revenue to ₹4,617 crore in the second quarter ended September 30. The production and sales of its two-wheelers improved consistently from July onwards, but the commercial vehicle segment continues to lag. IndiGo drops 2% The shares of India’s largest airlines IndiGo dropped 2% after its losses widened to ₹1,194 crore for the second quarter ended September 30. The company had posted a net loss of ₹1,062 crore in the same quarter last year. The company’s total income declined 65% to ₹3,029 crore. <keyword id="1553175" type="COMPANY" weightage="20" keywordseo="Vodafone-Idea">Vodafone Idea</keyword> gains over 6% The shares of telecom major Vodafone Idea gained over 6% after the company significantly narrowed its loss. Vodafone Idea reported a net loss of ₹7,218.2 crore for the quarter ended September 30 compared to a loss of ₹50,897.9 crore in the same quarter last year. BPCL garners 2% The shares of state-owned Bharat Petroleum (BPCL) gained over 2% after it reported a 58% year-on-year growth in its consolidated net profit to ₹2,589.52 crore, on the back of lower expenses, including material and finance costs. <keyword id="6362419" type="COMPANY" weightage="20" keywordseo="hpcl">HPCL</keyword> leaps 3% The state-owned Hindustan Petroleum (HPCL) was trading 3% higher after the petroleum giant announced that its board would meet on November 4 to consider a share buyback plan. <keyword id="103837" type="PERSON" weightage="20" keywordseo="Angel-Broking">Angel Broking</keyword> trades 12% higher Angel Broking shares were trading 12% higher after the Kuwait Investment Authority acquired half a percent stake in the retail broking company via open market transactions on October 29 for ₹321.73 per share. <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> trades 1% higher The shares of Mukesh Ambani-owned Reliance Industries (RIL) were trading nearly a percent higher ahead of its Q2 financial result due later this evening. <keyword id="6359949" type="COMPANY" weightage="20" keywordseo="blue-dart">Blue Dart</keyword> shares gain 14% The shares of Blue Dart gained over 14% after the company reported 195.85% jump in its quarterly profit to ₹41.39 crore. The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) was up 131.79% to ₹149.46 crore in the quarter ended September 30. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/cricketer-yuvraj-singh-invests-in-nutrition-based-healthtech-startup-wellversed/articleshow/78945260.cms" data-type="tilCustomLink">Cricketer Yuvraj Singh invests in nutrition-based healthtech startup Wellversed</a> <a href="https://www.businessinsider.in/tech/news/the-big-4-tech-companies-amazon-apple-facebook-and-google-blew-past-wall-street-estimates-in-their-latest-quarter-earnings-reports/articleshow/78942589.cms" data-type="tilCustomLink">The Big 4 tech companies — Amazon, Apple, Facebook, and Google — blew past Wall Street estimates in their latest-quarter earnings reports</a>

Top stock movers — RIL, HPCL, Angel Broking, TVS Motor, Blue Dart, Vodafone Idea, and others

<ul><li>The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening 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 equities are likely to open flat on Friday. The SGX Nifty was trading 0.31% lower at 7:50 am, indicating a weak opening for Nifty50. However, The US stock markets soared on Thursday, as investors cheered healthy economic data and bet on tech stocks to post strong quarterly earnings. The Dow Jones Industrial Average closed 139 points higher and the S&amp;P 500 gained 1.19%. These are the stocks to watch out for during the trading session on October 29: IndiGo India’s largest airline IndiGo reported a net loss of ₹1,194 crore for the second quarter ended September 30. The company had posted a net loss of ₹1,062 crore in the same quarter last year. The airline’s total income was down 65% to ₹3,029 crore. The shares of IndiGo ended 2.3% higher on Thursday. Tata Group stocks The Tata Group stocks such as Tata Motors, TCS, Tata Communications, among others, will be in focus throughout the trade today. The Shapoorji Pallonji Group has submitted a plan for separation from Tatas to the Supreme Court. The Mistrys have valued their holding in the Tatas at ₹1.75 lakh crore. Hindustan Petroleum (HPCL) The petroleum giant Hindustan Petroleum announced that its board would meet on November 4 to consider a share buyback plan as the company management feels the share price is lower than the value it deserves. The shares of HPCL ended 5% higher on Thursday. SpiceJet, IndiGo and other aviation-related stocks The stocks of SpiceJet, IndiGo and other aviation-related stocks will be in focus today. The Civil Aviation Minister Hardeep Singh Puri announced that the upper and lower limits on domestic airfares would remain in place for another three months post-November 24. The shares of SpiceJet ended 2% lower on Thursday. Mangalore Refinery and Petrochemicals Limited (MRPL) ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) registered a net profit of ₹35.84 crore in the second quarter ended September 30, as against a loss of ₹574.45 crore in the corresponding period last year. The shares of MRPL ended 1% lower on Thursday. Zensar Technologies Zensar Technologies reported an 11.7% rise in net profit to ₹89.2 crore for the second quarter ended September 30. The board of the company has also given in-principle approval for a merger of its wholly-owned subsidiary Cynosure Interface Services with the company. The merger aims at reducing administrative costs. The shares of Zensar Technologies ended 0.37% lower on Thursday. TVS Motor TVS Motor Company reported a 29.37% decline in consolidated net profit at ₹181.41 crore for the quarter ended September 30. The production and sales improved consistently from July onwards, but the commercial vehicle segment continued to hurt the company. The shares of TVS Motor ended over 1% lower on Thursday. Vodafone Idea Debt-ridden telecom firm Vodafone Idea reported narrowing of its consolidated loss to ₹7,218.2 crore for the quarter ended September 30. The company had posted a loss of ₹50,897.9 crore in the same quarter last year. However, the total income declined by about 3% to ₹10,830.5 crore during the reported quarter. The company’s subscriber base also declined to 27.18 crore in Q2, from 27.98 crore earlier. The shares of Vodafone Idea ended 4% lower on Thursday. Angel Broking Kuwait Investment Authority has acquired half a percent stake in retail broking company Angel Broking via open market transactions on October 29 for ₹321.73 per share. The shares of Angel Broking ended 3% higher on Thursday. Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL, Reliance Industries, Dixon Technologies, IndusInd Bank, Indian Oil Corporation, UPL among others are slated to announce quarterly financial results today. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/marutis-revenue-rises-10-as-car-sales-increase-but-high-commodity-prices-dampen-profit/articleshow/78929357.cms" data-type="tilCustomLink">Maruti’s revenue rises 10% as car sales increase but high commodity prices dampen profit</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-backer-lightspeed-india-invests-in-a-live-tutoring-platform-teachmint/articleshow/78924152.cms">BYJU'S backer Lightspeed India invests in a live tutoring platform Teachmint</a> <a href="https://www.businessinsider.in/india/news/covid-19-vaccine-updates-pfizer-moderna-to-roll-out-covid-19-vaccine-by-december/articleshow/78924143.cms" data-type="tilCustomLink">COVID-19 vaccine updates: Pfizer, Moderna to roll out COVID-19 vaccine by December</a>

Top stocks to watch — RIL, IndiGo, Tata Group, SpiceJet, Angel Broking, Dixon Tech, MPCL, and others

<ul><li>The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 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 stock market indices, Sensex and Nifty turned choppy on Wednesday after trading in green territory for a brief while. Financial stocks led the fall amid mixed cues from global markets as investors remained cautious after the first US presidential debate. The 30-share BSE index was trading 62 points lower, and the NSE Nifty slipped 0.12% at 10:05 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;">Dr. Reddy's Laboratories </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;">IndusInd Bank </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;">Cipla </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;">Bharat Petroleum </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;">United Phosphorus Ltd </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;">ICICI Bank </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;">Sun Pharmaceutical Industries </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;">Coal India </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;">Divi's Laboratories </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;">Axis Bank </td></tr></tbody></table>*as of September 30, 10:00 am These are the top stocks in news today. VA Tech Wabag up over 6% The shares of VA Tech Wabag gained 6% in an otherwise volatile market after its board approved allotment of 75 lakh equity shares at a price of ₹160 apiece aggregating ₹120 crore by way of the preferential issue. The list of proposed investors includes Rekha Rakesh Jhunjhunwala, Basera Home Finance, Sushma Anand Jain, and Anand Jaikumar Jain. Reliance Industries (RIL) open 1% higher The shares of Mukesh Ambani owned RIL opened 1% higher after its Retail venture, Reliance Retail <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms">sealed its third deal</a> this month. The American growth equity firm, General Atlantic has invested ₹3,675 crore into Reliance Retail for a 0.84% stake in the company. Future Enterprises down 3% The shares of Future Enterprises lost nearly 3% value after the Kishore Biyani-led company reported a fresh default on interest payment of non-convertible debentures (NCDs). Future Enterprises said it had defaulted on interest payment of ₹16.11 crore for a gross principal amount of ₹332 crore. This also dragged other Future Group stock such as — Future Retail and Future Lifestyle Fashions down 3%, among others. Housing Development Finance Corp (HDFC) trades higher after amalgamation nod The shares of Housing Development Finance Corp (HDFC) was trading nearly a percent higher after National Company Law Tribunal (NCLT), Mumbai sanctioned the scheme of amalgamation for the merger of HDFC ERGO Health Insurance into HDFC ERGO. Indiabulls Housing Finance surges 4% The shares of the leading private sector mortgage lender Indiabulls Housing Finance gained 4% after it raised another ₹630 crore by selling a part of its stake in UK-based bank Oak North to Toscafund Asset Management. Punjab National Bank and Lakshmi Vilas Bank trade lower The shares of Punjab National Bank was trading 2% lower after <a href="https://www.business-standard.com/article/finance/rbi-sounds-out-pnb-on-acquisition-of-beleaguered-lakshmi-vilas-bank-120092901633_1.html">reports surfaced that RBI has asked Punjab National Bank to take over</a> Lakshmi Vilas Bank (LVB) in case the beleaguered lender’s proposed transaction with Clix Capital does not materialise. Lakshmi Vilas Bank was also trading 5% lower during the early trading hours. PVR soars 3% The shares of cinema giant PVR Limited soared 3% ahead of the board meeting on October 5 to consider the proposal of raising funds via non-convertible debentures. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-retail-seals-its-third-deal-this-month-general-atlantic-to-invest-3675-crore/articleshow/78397878.cms" data-type="tilCustomLink" style="">Reliance Retail seals its third deal this month – General Atlantic to invest ₹3,675 crore</a> <a href="https://www.businessinsider.in/science/space/news/after-the-moon-mars-is-getting-laser-reflecting-mirror-to-help-future-landings-on-the-red-planet/articleshow/78385935.cms" data-type="tilCustomLink">After the Moon, Mars is getting laser-reflecting mirror to help future landings on the Red Planet</a>

Top stock movers — RIL, Future Group companies, VA Tech Wabag, PNB, HDFC, and more

<ul><li>At 7:49 am the SGX Nifty was trading 0.69% higher, 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>Amid positive cues from Asian markets, the Indian stock market is likely to open in green. At 7:49 am, the SGX Nifty was trading 0.69% higher. Other Asian markets are also trading in the green — Hong Kong’s Hang Seng Index was up 0.60%, and the Shanghai Composite Index was up nearly 0.18%. These are the stocks to watch out for during the trading session on September 28: Hero MotoCorp According to<a href="https://www.timesnownews.com/business-economy/companies/article/harley-davidson-close-to-deal-with-indias-hero-motocorp-after-stopping-local-manufacturing-sources/657938"> media reports</a>, the US bike maker Harley Davidson is in talks with the Indian two-wheeler major Hero MotoCorp to enter into a distribution arrangement that will allow the Indian company to import and sell Harley bikes as its sole distributor. The shares of Hero MotoCorp ended 3% higher on Friday. SBI and Future Group stocks Media <a href="https://www.thehindubusinessline.com/money-and-banking/biyani-close-to-deal-with-sbi-to-future-proof-insurance-arms/article32709290.ece">reports </a>suggest that as a part of a plan to cut down on debt, the Kishore Biyani-owned Future Group companies are set to ink a deal with State Bank of India for the sale of both the general and life insurance segments. This may move other Future Group stocks as well such as — Future Lifestyle, Future Retail and Future Enterprises. Reliance Industries (RIL) Silver Lake Partners has <a href="https://www.businessinsider.in/retail/news/reliance-retail-raises-1-billion-from-silver-lake-valuing-the-chain-at-57-billion/articleshow/78009435.cms">picked up 1.75% stake</a> in the retail arm of Mukesh Ambani owned RIL. The company invested ₹7,500 crore into its arm Reliance Retail Ventures Ltd (RRVL). The shares of RIL ended 1% higher on Friday. NTPC Ltd The state-owned NTPC Ltd said it has successfully synchronised a 660-MW unit of its supercritical thermal power plant in Bihar with the grid. The company said it would help the commercial generation of electricity from it. The shares of NTPC ended 2.36% higher on Friday. Videocon Industries ad BPCL The state-owned Bharat Petroleum (BPCL) has been forced to pay for its defaulting partner Videocon Industries after it had relied on a rarely used model to acquire a stake in five oil blocks in Brazil, according to <a href="https://energy.economictimes.indiatimes.com/news/oil-and-gas/bpcl-pays-for-defaulting-videocon-in-brazil-oil-block/78355979">reports</a>. The shares of Videocon Industries ended 5% lower on Friday, whereas BPCL shed nearly a percent. Sun Pharma The drug major Sun Pharma in its Annual Report for 2019-20 said the company is looking to expand its speciality business across different regions like Greater China and Japan after having established presence in the US market. The shares of Sun Pharma ended 0.72% higher on Friday. Berger Paints India’s second-largest paint maker, Berger Paints said that despite the coronavirus uncertainty its capital expenditure for this fiscal year remains unaffected and will be the same as last year. The major investment will be in its upcoming Sandila plant near Lucknow of around Rs 260 crore, and the plant is expected to be operational from 2022 onwards. The shares of Berger Paints ended 0.88% higher on Friday. Vodafone Idea The telecom regulator TRAI has decided to drop proceedings against Vodafone Idea in priority plan matter after the telco withdrew contentious claims on faster speed and modified its offering. The shares of Vodafone Idea ended 12% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-cams-ipo-share-allotment-status/articleshow/78311094.cms" data-type="tilCustomLink">CAMS IPO allotment: Here’s how to check share allotment status</a> <a href="https://www.businessinsider.in/business/auto/news/the-list-of-global-auto-companies-exiting-india-in-last-five-years-including-harley-davidson-fiat-and-general-motors/slidelist/78315633.cms" data-type="tilCustomLink">Harley Davidson is the latest to join the list of global auto companies exiting India in last five years — Here’s a closer look</a> <a href="https://www.businessinsider.in/stock-market/news/heres-how-to-check-chemcon-speciality-chemicals-ipo-share-allotment-status-online/articleshow/78328884.cms" data-type="tilCustomLink">Chemcon IPO allotment: Here’s how to check share allotment status</a>

You Searched For "Ril petroleum business" and got 10 results

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Navdeep Yadav

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