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<ul class="summary-list"><li>Oil prices could surge past $200 a barrel if Iran's oil installations are taken offline, a chief commodities expert said.</li><li>Iran accounts for over 2 million barrels of crude exports per day.</li></ul>Oil prices could roar past $200 a barrel if escalating tensions in the Middle East decimate Iran's crude output, a chief commodities analyst <a target="_blank" href="https://www.cnbc.com/video/2024/10/03/oil-may-hit-200-if-irans-energy-infrastructure-is-targeted-analyst.html">told CNBC</a>.SEB's Bjarne Schieldrop noted that that Iran accounts for over 2 million barrels of crude and compensate exports per day. He said that if rising conflict in the region were to wipe out Iranian oil infrastructure, that would significantly reduce the OPEC+ coalition's spare oil capacity.That not only means higher prices but amplified market uncertainty, Schieldrop added: "The next question in the market would be, what will happen now in the strait of Hormuz, and that, of course, would then add a significant risk premium to oil."In the $200 per barrel scenario, <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent</a> crude, the international benchmark, would gain 161% from its current price.Oil is trading at $76.44 as of 11:20 am ET Thursday. Prices have risen nearly 10% from a bottom on Tuesday, triggered by Iran's major missile attack on Israel. The attack came in response to the Israeli ground offensive into Lebanon. Traders are monitoring for further escalation, with special attention on how Israel might retaliate.Despite the rally, Brent crude still trades around 16% below this year's $91 peak. Other analysts appear aligned with Schieldrop, noting that geopolitical tensions will remain insignificant until investors see oil infrastructure take actual damage."The market is complacent about geopolitical risk. If you don't see barrels going offline, like we saw with Libya recently, the impact doesn't matter much," Rapidan founder Bob McNally told <a target="_blank" href="https://www.youtube.com/watch?v=2I87xfAoUbo">CNBC</a>. He added: "I think they're hoping and expecting perhaps Israel will be restrained in its response, and that we won't see a material disruption in the energy production and flows."Still, some investors are betting on the possibility of damaged oil output, <a target="_blank" class="" href="https://www.bloomberg.com/news/articles/2024-10-02/traders-bet-on-100-a-barrel-oil-as-mideast-risks-escalate">Bloomberg</a> reports. Nearly 27 million barrels of Brent $100 options calls were traded on Wednesday, meaning that traders are hedging against the risk of triple-digit oil prices.Growing tensions between Israel and Iran are not the only factor moving oil prices. In December, the OPEC+ cartel will decide whether to unleash more crude output, undoing some of the production coalition's production curbs.These restrictions were introduced to prop up oil prices, but have cost the alliance market share. Meanwhile, some members haven't stuck with their quotas, drawing the ire of Saudi Arabia, the OPEC leader.Last week, the kingdom warned that Brent could fall as low as <a target="_blank" href="https://markets.businessinsider.com/news/commodities/saudi-arabia-opec-oil-production-cuts-crude-prices-middle-east-2024-10?_gl=1*ani1tt*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyNzk3MDc1NC42ODQuMC4xNzI3OTcwNzU0LjYwLjAuMA..">$50 a barrel</a> if OPEC doesn't reduce outflows, as pledged. Some consider this a veiled threat that Riyadh will <a target="_blank" class="" href="https://markets.businessinsider.com/news/commodities/saudi-arabia-oil-prices-brent-crude-outlook-opec-production-cuts-2024-9?utm_medium=ingest&amp;utm_source=markets">increase its own output</a> if members don't fall into line.

Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says

<keyword id="20024191" type="General" weightage="20" keywordseo="Reliance-Power" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Power" meta.hostid="261" meta.entityid="Reliance Power">Reliance Power</keyword> said it has received <keyword id="21075266" type="General" weightage="20" keywordseo="shareholders-approval" source="keywords">shareholders' approval</keyword> to raise <keyword id="23666886" type="General" weightage="20" keywordseo="Rs-1524-60-crore" source="keywords">Rs 1,524.60 crore</keyword> through issuance of <keyword id="20770487" type="General" weightage="20" keywordseo="preferential-shares" source="keywords">preferential shares</keyword>. A resolution through a postal ballot notice has been passed with requisite majority, the company said in a late night stock exchange filing on Wednesday. According to the postal ballot notice, the company will raise up to Rs 1,524.60 crore by preferential issue of up to 46.20 crore <keyword id="20035340" type="General" weightage="20" keywordseo="equity-shares" source="keywords">equity shares</keyword> and/or warrants convertible into equivalent number of equity shares at a price of Rs 33 per apiece. On September 23, the board of Reliance Power Ltd had approved raising Rs 1,524.60 crore through issue of preferential shares, wherein promoters will infuse Rs 600 crore into the company to advance its business. <div type="Article" hostid="261" msid="79183505" title="Happy Dhanteras 2024 messages and wishes" mstype="2" mssubtype="0"></div> Reliance Infrastructure, the promoter of the company, will enhance its equity stake by over Rs 600 crore. The other investors who will participate in the preferential issue include Authum Investment and Infrastructure Ltd and Sanatan Financial Advisory Services. The fresh fund would be utilised for expansion of business operations directly and/or through investment in subsidiaries and joint ventures, debt reduction and for general corporate purposes, the company said. The preferential issue will enhance the company's net worth from about Rs 11,155 crore to over Rs 12,680 crore, it said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms" target="_blank">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms" target="_blank">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a><a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms" target="_blank">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

<ul><li>FMCG giant HUL’s shares reported a decline of over 6% on Thursday.</li><li>This comes a day after the company reported a 2.33% decline in consolidated net profit in Q2.</li><li>The stock tanked 6.59% to ₹2,483.95 on the NSE.</li></ul>Shares of FMCG major <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords">Hindustan Unilever</keyword> Ltd (HUL) on Thursday tumbled over 6% after the firm reported a 2.33% decline in consolidated net profit for the second quarter ended in September. The stock tanked 6.59% to ₹2,483.95 on the NSE. The stock emerged as the biggest laggard among the Sensex and Nifty firms during the morning trade. Hindustan Unilever Ltd on Wednesday reported a 2.33% decline in consolidated net profit at ₹2,595 crore for the second quarter ended in September 2024, impacted by moderation in demand from the urban market. The company had logged a net profit of ₹2,657 crore in the July-September quarter a year ago, HUL said in a regulatory filing. However, revenue from product sales was up 2.36% at ₹15,703 crore in the September quarter, from ₹15,340 crore in the year-ago period, HUL which owns power brands such as Surf, Rin, Lux, Pond's, Lifebuoy, Lakme, Brooke Bond, Lipton and Horlicks said. "In the September quarter, <keyword id="21419477" type="General" weightage="20" keywordseo="FMCG-demand" source="keywords">FMCG demand</keyword> witnessed moderating growth in urban markets, while rural continued to recover gradually. In this context, we delivered a competitive and profitable performance," HUL CEO and Managing Director Rohit Jawa said. HUL reported an underlying sales growth of 2% and underlying volume growth of 3%. Total expenses were at ₹12,581 crore in the September quarter, up 3.03% year-on-year. HUL's total income, which includes other income, was up 2.14% to ₹16,145 crore in the September quarter of FY25. Addressing an earnings call, HUL CFO Ritesh Tiwari said, "Two thirds of our business we do in urban areas, and one-third we do in rural areas … we are seeing growth in the urban market moderating. We are seeing rural growth recovery is gradual … it impacts all the categories that we have." On the outlook, he said, "In the near term, we expect demand trends to be stable with no further acceleration in pace of growth." In this context, Tiwari said, "Our focus remains on driving competitive volume-led growth, while continuing investments behind our brands and strategy priorities … If commodity prices remain where they are, we expect a low single digit price growth in the near-term." With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/afcons-infrastructure-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/114490954.cms">Afcons Infrastructure IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/tech/news/upi-refund-scam-to-digital-arrest-scam-here-are-most-common-online-scams-in-india/articleshow/114428011.cms">UPI refund to digital arrest scam, here are some online scams you need to be aware of</a> <a href="https://www.businessinsider.in/stock-market/news/waaree-energies-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/114508632.cms">Waaree Energies IPO allotment – How to check allotment, IPO GMP, listing date and more</a>

Hindustan Unilever shares tumble over 6% post Q2 results

<ul class="summary-list"><li>While Democrats touted job growth under Biden, Trump won over voters facing high prices.</li><li>A BI analysis found real wages declined in states that had the biggest swings toward Trump.</li></ul>High prices dominated voters' minds this election cycle — and they likely played a key role in handing <a target="_blank" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">President-elect Donald Trump</a> his victory.On the campaign trail, Trump clashed with President Joe Biden and Vice President Kamala Harris over their <a target="_blank" href="https://www.businessinsider.com/what-us-economy-would-look-like-with-trump-biden-presidency-2024-5">handling of the economy</a>.<a target="_blank" class="" href="https://fred.stlouisfed.org/series/UNRATE">Unemployment</a> sharply fell during the first year of Biden's term and has remained low. Biden <a target="_blank" href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/11/01/statement-from-president-joe-biden-on-the-october-2024-jobs-report/">oversaw the creation of 16 million new jobs</a> during his term as of October, and his administration frequently touted that growth.But <a target="_blank" href="https://www.businessinsider.com/personal-finance/investing/what-is-inflation">inflation</a> also spiked during the early years of Biden's presidency, before its pace gradually slowed, creeping toward the Federal Reserve's 2% target.Trump told voters he would provide relief to their wallets across the board, from groceries to housing."I am promising low taxes, low regulations, low energy costs, low interest rates, secure borders, low, low, low crime and surging incomes for citizens of every race, religion, color, and creed," Trump <a target="_blank" class="" href="https://www.c-span.org/video/?538141-1/president-trump-remarks-economic-club-york">said</a> during remarks in September. "My plan will rapidly defeat inflation, quickly bring down prices, and reignite explosive economic growth."That promise resonated: Real, or inflation-adjusted, wage growth — or lack thereof — across the country shows a possible reason why.Many states where Trump most improved his margins saw large declines in real wages under Biden. Increases in wages were more than offset by higher living costs in these states.Counties with higher costs of living also voted for Trump more than they did in 2020.<h2 id="592a8bc6-249e-4af5-904c-d806f3ba6a2f">How Trump won on prices</h2>Business Insider looked at how average hourly earnings for private employees have changed in each state from January 2021, when Biden took office, to this past September. BI adjusted 2021 amounts using <a target="_blank" class="" href="https://www.bls.gov/cpi/regional-resources.htm">Census-division-level inflation</a> to understand how much real wages have changed across the US. Rhode Island had the highest real wage growth, just one of around a dozen states that saw an increase.Using the <a target="_blank" class="" href="https://www.nytimes.com/interactive/2020/11/03/us/elections/results-president.html">2020</a> and <a target="_blank" class="" href="https://www.nytimes.com/interactive/2024/11/05/us/elections/results-president.html">2024</a> share of Trump votes by state reported by The New York Times, BI found that states with bigger real wage drops tended to have bigger shifts to Trump than other states.Some of the biggest swings came in heavily blue, expensive states. New York, which saw an 8.3% real wage decline and which has a high cost of living, also had a 6.5 percentage point increase in Trump's vote share from 2020 to 2024. Maryland, which saw an 11.2% real wage decline, swung toward Trump in 2024 by 5 percentage points.The nation's capital was an outlier. Real wages massively fell in <a target="_blank" class="" href="https://www.bea.gov/news/2023/real-personal-consumption-expenditures-state-and-real-personal-income-state-and">costly</a> Washington, DC; even before adjusting for inflation wages were roughly flat. While Trump did see a small uptick in the share of DC votes for him in 2024, it was one of the lowest percentage point increases based on BI's analysis.The cost of living and unemployment levels also factored into voters' feelings as they headed to the polls. Jed Kolko, an economist who served in the Biden administration, <a target="_blank" href="https://www.slowboring.com/p/breaking-down-the-election-results">wrote</a> in Matthew Yglesias' "Slow Boring" column that higher unemployment levels in US counties over the past year matched a swing in county votes toward Trump.The same goes with the cost of living: "Counties with a higher cost of living swung more toward Trump in 2024 relative to 2020. Expensive counties tend to be blue places like big coastal cities; Harris won most of these pricey counties, but by a smaller margin than Biden did in 2020, when controlling for demographics, education, and density," Kolko wrote.Kolko also found that local job growth did not have a significant relationship to voting patterns, while local federal spending from Biden's signature infrastructure and industrial investment programs did not appear to impact county election results either.Some experts have said that Trump's tariff policies would <a target="_blank" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">stoke inflation and raise consumer prices</a>. Trump has instead argued that his policies would help with costs, promising voters they will see improvements once he takes office."Prices will come down," Trump <a target="_blank" href="https://www.cnn.com/2024/08/20/business/trump-inflation-prices-deflation/index.html">said</a> during an August speech. "You just watch: They'll come down, and they'll come down fast, not only with insurance, with everything."

Democrats wished the election was about jobs. Trump's win showed it was about prices.

It can be gruelling to choose between a gourmet meal and your mom’s homemade biryani — more often than not, the familiar wins out. Despite the buzz around electric vehicles, a growing number of drivers in India and the world are hitting the brakes on their electric vehicle (EV) journey and revving up their old petrol and diesel cars. But why are we witnessing this unexpected switch, and what does it spell for the future of driving? <h2>Waning EV enthusiasm</h2>A recent Park+ survey reported that 51% of Indian EV car owners expressed a desire to return to internal combustion engine (ICE) vehicles. This statistic — despite the study’s limited sample size of just 500 EV owners — is certainly surprising, given the evident success of India's push toward electrification with the attractive FAME and EMPS schemes. This isn’t even a special case; a similar survey revealed that 29% of EV-owners shared the same sentiment internationally — perhaps not that large of a number, but certainly not an unnoticeable one either. The number is even higher when you look at just the United States. According to McKinsey &amp; Co., 46% of US <keyword id="22369438" type="General" weightage="100" keywordseo="electric-vehicle-owners" source="keywords">electric vehicle owners</keyword> are “very” likely to purchase a gas-powered vehicle the next time. <h2><keyword id="21396729" type="General" weightage="20" keywordseo="range-anxiety" source="keywords">Range anxiety</keyword> remains a major roadblock</h2>While the world has seen massive leaps in EV tech over the past few years, many still complain that the primary concerns still prevail. For instance, several cite the persisting inadequacy of <keyword id="20111395" type="General" weightage="20" keywordseo="charging-infrastructure" source="keywords">charging infrastructure</keyword> as a primary reason for the shift back to ICE vehicles. While urban areas in developed countries may boast a fair number of charging stations, the time taken to charge and faulty stations remain significant problems for a daily EV long-distance commuter. For instance, one user sparked up a conversation on Reddit after explaining that they had begun to consider moving back to a hybrid of regular gas vehicles since they wanted to explore the countryside. This is a sentiment that reflects broader consumer concerns that influence purchasing decisions. “Once I was in Big Bear there was only two DC chargers in town, one of which was out of order. There was a line to use them. It was overall an unpleasant experience and took up a lot of time we could have spent actually enjoying Big Bear,” another responded, noting that this was just one of many unpleasant experiences they’ve experienced with the charging infrastructure. “Most of the time at least one or two chargers are out of order and it's just a pain to charge. I love EV's but the infrastructure isn't adequate and reliable enough for me to ditch an ICE car completely.” <div type="Article" hostid="261" msid="111341259" title="EV charging is so bleak that some owners are considering going back to gas-powered cars, survey finds" mstype="2" mssubtype="0"></div>Further, you have to reconcile with the fact that these are still concerns for the urban rich, and that rural and less developed regions are still lagging significantly behind in this matter. Take India, for instance, where the charging infrastructure is still in its nascent stages, despite years-long government efforts. Long queues at charging stations, inconsistent availability, and longer charging times compared to refuelling <keyword id="21283001" type="General" weightage="20" keywordseo="ICE-cars" source="keywords">ICE cars</keyword> are major deterrents for the average Indian EV consumer. Further, range anxiety continues to be a significant barrier, especially in countries like India that value long-distance trips. Despite advancements in <keyword id="20172158" type="General" weightage="20" keywordseo="battery-technology" source="keywords">battery technology</keyword>, two-wheeler EVs boast a maximum range of only 200-300 kilometres, while cars have a 300-400 kilometre range. <h2>Cost and practicality concerns</h2>The initial cost of EVs also remains higher than that of their ICE counterparts, despite decreasing battery prices. For many consumers, especially in price-sensitive markets like India, this cost difference is substantial. Additionally, the practical concerns of battery life and replacement costs add to the apprehension. “While consumers still have plenty of concerns surrounding an EV’s battery range, price remains the higher priority when purchasing an EV,” reported Julia Martinez, a US energy and auto expert. <div type="Article" hostid="261" msid="112062360" title="Government extends EV subsidy scheme till September 30, increases outlay" mstype="2" mssubtype="0"></div>While EVs are often touted for their lower maintenance costs, the reality can be different. Many lament that specialised service centres, the availability of parts, and skilled technicians are not as widespread for EVs as they are for ICE vehicles. This disparity in service infrastructure makes EV ownership less appealing to some consumers, both in India where mechanics are still grappling with learning about the new tech, and globally. <h2>Car-makers are rethinking their approach</h2>This “rejection”, along with the fact the global and US <keyword id="20623482" type="General" weightage="20" keywordseo="EV-market" source="keywords">EV market</keyword> has been stagnating for a while now, has already begun to bleed into real-life corporate decision-making as automakers reevaluate their EV strategies. For instance, Ford and General Motors have recently announced a downscaling of their EV production plans due to slower-than-expected market uptake. Even <keyword id="107096" type="General" weightage="20" keywordseo="tesla" source="Orion">Tesla</keyword> — the very company that arguably made EVs “cool” in the first place — has found itself in an awkward position having to fan some flames away. Not only is the Musk-led company struggling to entice more people into buying their cars, studies have also shown that car buyers are connecting better with EVs built by more traditional automakers than Tesla owners. These developments suggest a broader hesitancy and a rebalancing towards consumer choice, including the retention of ICE options. <div type="Article" hostid="261" msid="112145967" title="Tesla is having trouble wooing new EV shoppers" mstype="2" mssubtype="0"></div>The transition from ICE to EVs is not as straightforward as initially anticipated. While EVs offer significant benefits, various factors such as infrastructure, cost, range anxiety, and consumer sentiment are causing some to reconsider their choices. In India, the journey toward widespread <keyword id="20421629" type="General" weightage="20" keywordseo="EV-adoption" source="keywords">EV adoption</keyword> is marked by impressive sales growth but also significant challenges that need to be addressed. The automotive industry's future may lie in striking a balance between advancing <keyword id="19945562" type="General" weightage="20" keywordseo="EV-technology" source="keywords">EV technology</keyword> and maintaining the reliability of ICE vehicles to meet diverse consumer demands.

EV-iction notice: Why are electric vehicle owners switching back to petrol and diesel (ICE) cars?

Shares of state-owned behemoth Life Insurance Corporation (<keyword id="19903588" type="General" weightage="20" keywordseo="LIC" source="keywords">LIC</keyword>) have outperformed rivals like <keyword id="20079495" type="General" weightage="20" keywordseo="HDFC-Life" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Life" meta.hostid="261" meta.entityid="HDFC Life">HDFC Life</keyword> and <keyword id="21278696" type="General" weightage="20" keywordseo="ICICI-Prudential-Life" source="keywords">ICICI Prudential Life</keyword>, as it placed bets on India's growth sectors, including infrastructure, while the private sector concentrated its bets on tech, consumer and consumer-related <keyword id="19910880" type="General" weightage="20" keywordseo="BFSI" source="keywords">BFSI</keyword> companies. LIC's stock has gained nearly 79% from Rs 620 on June 18, 2023, to Rs 1,109.15 at the closing on Tuesday, according to stock exchange data. In contrast, HDFC Life gave a negative return with Tuesday's closing price of Rs 646.55 on the BSE as compared to Rs 666.55 a year back. ICICI Prudential Life Insurance Co delivered a return of 12%, considering its stock price rise from Rs 582 on June 18, 2023, to Rs 654.10 on June 16, 2024. Over the past one year, <keyword id="19898108" type="General" weightage="20" keywordseo="SBI" source="keywords">SBI</keyword> Life Insurance shares have risen from Rs 1,314 to Rs 1,621.20, delivering a return of 23%. Capital market analysts said <keyword id="19935977" type="General" weightage="20" keywordseo="insurance-companies" source="keywords">insurance companies</keyword> make money in two ways - charging premiums for policies and then investing the premiums into assets. It is the latter that generates the bigger delta in profits, thus impacting value creation and managing risks. Global majors, including Warren Buffet-owned Berkshire Hathaway, have been successful due to their ability to make superior investments. Most Indian insurance companies are yet to capitalise on the emergence of the country's <keyword id="19997284" type="General" weightage="100" keywordseo="infrastructure-sector" source="keywords">infrastructure sector</keyword>, analysts said. Indian insurance companies have concentrated investments in the BFSI, IT, and consumer sectors - all of which have been underperformers in the recent past. Only 8-10% of their investments are in the infrastructure sector. This is far less when compared to global standards. Large global insurance companies -- such as Allianz, Nippon Life Insurance, and Metlife, and other insurers like Berkshire Hathaway -- have much larger exposure ranging from 15 to 30% to the infrastructure sector, analysts noted. Over the past few years, global insurers have been increasingly considering infrastructure investments as 'core' investments as the stable and long-term cash flows of infrastructure assets naturally align with the liabilities of insurers. Additionally, infrastructure assets have defensive characteristics of high barriers to entry, strong pricing power, structural growth, and predictive cash flows, and listed infrastructure can provide investors with inflation-protected income and solid capital growth. <h2>Infra sector outperforming all</h2>For India, a strong government focus on the sector with large spending, supporting initiatives and encouraging policies, and improving governance has helped the infrastructure industry has come of age. This has helped the infra sector to outperform all other sectors, according to analysts. They said the high focus on retail loans, and the strategic reluctance to look at infrastructure for growth opportunities is proving detrimental for the shareholders of such companies. SBI, with its higher exposure to the infrastructure sector, has seen its stock gain 48% in the year (from Rs 592 to Rs 880.95 on Tuesday), while those of its private counterparts HDFC Bank, Kotak Mahindra Bank, ICICI Bank and Axis Bank have gained only in the range of (-)3%to 24%. Kotak and HDFC Banks with negligible exposure to the infrastructure sector are the worst performing, with their shares giving a negative return, stock exchange data showed. Kotak Mahindra Bank shares were at Rs 1,895 on June 18, 2023, and closed at Rs 1,805.20 on Tuesday. HDFC Bank closed at Rs 1,619.20 on BSE on Tuesday, down from Rs 1,679 a year back.

Exposure to India's infra sector helps LIC, SBI outshine peers

<keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords">Reliance Industries</keyword>' 2024 annual report revealed that <keyword id="20671686" type="General" weightage="100" keywordseo="JioBharat" source="keywords">JioBharat</keyword>, an affordable keypad smartphone, has achieved an impressive 50 per cent <keyword id="20038792" type="General" weightage="20" keywordseo="market-share" source="keywords">market share</keyword> in the <keyword id="3342432" type="General" weightage="20" keywordseo="sub-rs-1" source="Orion">sub-Rs 1</keyword>,000 segment. Launched with the mission to empower every Indian with digital services, JioBharat has marked a significant step towards digital freedom for the 250 million feature phone users in India, bridging the digital divide like never before. Since its launch a year ago, JioBharat has been transforming lives by offering features and digital capabilities such as UPI, JioCinema, and JioTV, enabling various segments of society to achieve more. This affordable device not only empowers users with smartphone capabilities but also provides high-quality and affordable data, making it accessible to the common people. Despite the recent industry-wide tariff increases, <keyword id="2003276" type="General" weightage="20" keywordseo="Jio" source="Orion">Jio</keyword> has maintained consistent pricing for JioBharat, allowing users to enjoy full digital capabilities at just Rs 123 per month. In contrast, the most affordable plans from other operators start at Rs 199 per month and enables access to limited functionality, restricted to voice and SMS services, as their feature phones do not support data or LTE usage. In his letter to shareholders, <keyword id="19916798" type="General" weightage="20" keywordseo="Mukesh-Ambani" source="keywords">Mukesh Ambani</keyword>, Chairman of Reliance Industries Ltd, stated, "The launch of the JioBharat phone is another revolutionary step towards bridging the country's digital divide. A smartphone at the price of a feature phone, the JioBharat phone will go a long way in realizing a 2G-mukt Bharat." In 2016, when Jio was launched, it left no stone unturned to democratise internet access and pass the benefits of technology to every Indian. With affordable high-speed data and a ubiquitous network, technology was no longer a privilege for a select few. The subsequent launch of affordable devices like <keyword id="22711694" type="General" weightage="20" keywordseo="jiophone" source="keywords">JioPhone</keyword> and the availability of affordable wired broadband (<keyword id="20282548" type="General" weightage="20" keywordseo="jiofiber" source="keywords">JioFiber</keyword>) has truly democratised data connectivity. "With the launch of Jio 4G in 2016, we set out on a journey to make digital inclusion in India a reality. Jio turned a Data Dark India into a Data Rich nation, supplying every Indian home with affordable, high-speed 4G data. And this year, Jio has further enhanced the country's digital infrastructure by rolling out its True5G network across India in world-record time," states Mukesh Ambani's letter to shareholders in the latest annual report released on Thursday.

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Oil prices could surge 161% if Middle East conflict wipes out Iran's energy infrastructure, commodity chief says

Filip De Mott

Reliance Power gets shareholders' nod to raise ₹1,525 crore via preferential shares

PTI

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