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Coal India, Suven Pharma, Reliance Industries, Power Grid and other stocks to watch out for on June 11

The Central government on Monday received a huge <keyword id="56600" type="General" weightage="20" keywordseo="dividend" source="Orion">dividend</keyword> tranche of ₹5,001 crore from the Maharatna company <keyword id="6354737" type="General" weightage="20" keywordseo="ONGC" source="Orion">ONGC</keyword>. This was informed by the Secretary of the Department of Investment and Public Asset Management (DIPAM), <keyword id="3969017" type="General" weightage="80" keywordseo="tuhin-kanta-pandey" source="Orion">Tuhin Kanta Pandey</keyword>. On November 11, the government received about Rs 690 crore from <keyword id="6594329" type="General" weightage="80" keywordseo="bharat-petroleum-corporation-limited" source="Orion">Bharat Petroleum Corporation Limited</keyword> (<keyword id="44555" type="General" weightage="80" keywordseo="bpcl" source="Orion">BPCL</keyword>) as a dividend tranche. A dividend is the distribution of a company's earnings to its shareholders and is determined by the company's board of directors. Dividends are often distributed quarterly and may be paid out as cash or in the form of reinvestment in additional stock. Common shareholders of dividend-paying companies are eligible to receive a distribution as long as they own the stock before the ex-dividend date. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty50-hit-new-all-time-highs-bharat-petroleum-reliance-industries-surge-metal-stock-drag/articleshow/95822928.cms">Sensex, Nifty50 hit fresh all-time highs – Bharat Petroleum, Reliance Industries surge</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/ten-major-trade-unions-boycott-pre-budget-meeting-with-fm/articleshow/95825047.cms">Ten major trade unions boycott pre-budget meeting with FM</a>

Centre receives ₹5,001 crore as dividend from ONGC

New Delhi, Apr 28 () Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) will on Thursday consider a rights issue - the first such issue in nearly three decades - as it steps up efforts to pare debt. The Board of the country's largest company will meet on April 30 to consider and approve audited financial results of the firm for the quarter and year ended March 31 as also to recommend dividend, RIL said in a regulatory filing. It would also "consider a proposal to issue equity shares to existing shareholders on Rights basis, as may be permitted under applicable law, subject to such regulatory/statutory approvals, as may be required," the company said without giving details. The move comes within days of RIL agreeing to sell 9.99 per cent stake in its digital platform to Facebook Inc for USD 5.7 billion or Rs 43,574 crore. Ambani had in August last year unveiled plans to cut debt to zero by 2021. As part of this plan, RIL has been seeking strategic partnerships across its businesses while targeting to deleverage the balance sheet. At the end of December quarter, RIL had an outstanding debt of Rs 3,06,851 crore. It also had cash in hand of Rs 1,53,719 crore, bringing the net debt position to Rs 1,53,132 crore. Analysts expect dilution of at least 5 per cent through the rights issue. In other words, each shareholder will be entitled to apply for five new shares for every 100 shares held. This will help RIL raise about Rs 40,000 crore, assuming some discount to the current trading price. Typically, cash-strapped companies use rights issues to raise money when they really need it. In these rights offerings, companies grant shareholders the right, but not the obligation, to buy new shares at a discount to the current trading price. The last time RIL tapped the public for funds was in 1991 when it had issued convertible debentures. The debentures were subsequently converted into equity shares at Rs 55 apiece. As part of its balancesheet deleveraging plans, RIL is talking to Saudi Aramco for selling a fifth of its oil-to-chemicals business for an asking of USD 15 billion and has sold half of its fuel retail venture to BP Plc for Rs 7,000 crore and telecommunication tower business to Brookfield for Rs 25,200 crore. But the crash in oil prices has created uncertainty over the timeline for the completion of the Aramco deal. On August 12, 2019, RIL announced that it has signed a non-binding letter of intent to sell a 20 per cent stake in its oil-to-chemical (O2C) business to Saudi Aramco. The O2C business, which has an enterprise valuation of USD 75 billion, includes RIL's refining and petrochemical divisions, and RIL's 51 per cent stake in its fuel marketing business. The company had sold a 49 per cent stake in its fuel marketing business in India to BP Plc for USD 1 billion. In July 2019, RIL announced the sale of its telecommunications tower business - which was already transferred to the investment infrastructure trust, InvIT, to Brookfield Asset Management Inc for Rs 25,200 crore. Together, proceeds from these transactions will result in a reduction in RIL's net debt. ANZ ANZ ANUANU

Reliance to consider rights issue, dividend on Thursday

<ul><li>Rising crude oil and gas prices during the last few quarters because of supply side constraints led by the Russia Ukraine crisis has benefited the oil producer to mint more money.</li><li><keyword id="6354737" type="General" weightage="20" keywordseo="ongc" source="Orion">ONGC</keyword> enters the elite club of top most profitable companies in India as it makes a profit of ₹40,305 crore in FY22.</li><li>The oil producer has surpassed Tata Steel, TCS and HDFC Bank to reach the second position wherein Reliance Industries holds top position.</li></ul>State-owned oil explorer ONGC beat two Tata group firms - TCS and Tata Steel to become India’s second most profitable company, after Reliance Industries, in FY22. Its record profits came in spite of decline in production for the last 11-18 quarters, aging fields, and lack of new discoveries. However, crude oil prices soared to almost $140 a barrel - making even its low output very valuable. ONGC contributes to 70% of India’s total oil and gas production. “A rally in global crude oil and natural gas prices is a key driving factor behind ONGC’s profitability,” said a report by YES Securities. It added that any moderation in crude prices will affect its cash flows as its capex requirement is very high to maintain production in its aging fields. ONGC reported a net profit of ₹40,305 crore for FY22 surpassing Tata Steel, by a decent margin. It also beat one of India’s most valuable companies - TCS in terms of profits - after crude oil prices soared. <div type="image" title="top 5 companies col (1)" height="900" width="1200" msid="91890739" hostid="261"></div>Taxes, sanctions and more to affect ONGC profitability As expected, this rise in profitability might be unsustainable, especially since analysts believe that Russia-Ukraine tensions could settle down, cooling off the soaring crude. “ONGC’s performance depends on how long geopolitical tensions persist as its profits are directly connected to crude oil prices,” Sanjiv Bhasin, executive vice president, markets &amp; corporate affairs at India Infoline, told Business Insider India. Bhasin believes that these tensions will ease by mid-July. As soon as crude prices come down, so will ONGC’s place in the list of most profitable companies. “Brent will not sustain the $110 kind of level. One or two years down the line, Brent will cool down. The two year future market also shows prices cooling off about $80-$90 per barrel range so that will definitely impact the margins for ONGC,” Anshuman Khanna, the founding director of Valpro, told Business Insider India. While the advantages of the war might go away soon, its effects - like sanctions on Russia - could remain and can affect ONGC’s fortunes negatively. <div type="image" title="ongc (1)" height="900" width="1200" msid="91890758" hostid="261"></div>The Russian connection ONGC’s international arm, ONGC Videsh owns stakes in multiple energy assets in Russia. One of the country’s gas producing assets Sakhalin-I has already shown signs of trouble as US major Exxon said that it would exit the block. ONGC has a 20% stake in it, along with interests in Sakhalin II, and Vankor fields in Siberia. “Russian assets are facing two issues -- one is the fact that Russian crude is trading at a discount about $10-$20 to Brent and second issue is repatriation of Russian dividend from these assets because of sanctions. It’s a real risk, which could jeopardize their entire Russian investment,” Anshuman Khanna, the founding directors of Valpro, told Business Insider. The Indian government too isn’t allowing the state-owned oil explorer to enjoy its profits either. It is believed to collect some of it in the form of a <a href="http://theres-a-strong-case-to-levy-windfall-taxes-11653810086031.html">windfall tax on oil producing companies.</a> Analysts at Citi call this tax threat an overhang. There is speculation that the government might impose a 25% tax on profits of oil and gas producing companies as crude prices have surged over 50% in 2022. The stock has gained over the last one year, but does not reflect the positive impact of crude oil on its profits. The sanction risk and taxes are making its short-lived story of profitability even less enticing to investors. <div type="image" title="ONGC profit" height="900" width="1200" msid="91890803" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/business/corporates/news/nykaa-to-face-competitive-heat-but-its-omni-channel-experience-maybe-the-game-changer/articleshow/91883946.cms">Nykaa to face competitive heat but its omni-channel experience maybe the game changer</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="http://www.businessinsider.in/finance/banks/news/citi-kotak-icici-and-other-investment-banks-earned-2600-crore-through-ipos-last-year/articleshow/91887303.cms">Indian companies raised $14 billion via IPOs and their i-bankers made $300 million in fees</a>

ONGC beats Tata Steel, TCS to become India’s 2nd most profitable company - but Russian links may spoil the party

<ul class="summary-list"><li>Recent <keyword id="6362094" type="PERSON" weightage="60" keywordseo="Ransomware">ransomware</keyword> attacks on key companies have wreaked havoc on US suppliers and consumers.</li><li><keyword id="6361948" type="UNKNOWN" weightage="60" keywordseo="cybersecurity">Cybersecurity</keyword> experts say that while these firms may be large in scale, they're not necessarily high-tech.</li><li>Large companies often have a mosaic of IT systems that can make them vulnerable to attack.</li></ul>In his Senate testimony during a hearing last week on the Colonial Pipeline cyber attack, CEO <a href="https://www.insider.com/pipeline-ceo-says-compromised-password-wasnt-just-colonial123-2021-6">Joseph Blount said hackers had penetrated a legacy system</a> that was protected by a single password, rather than multi-factor authentication."It was a complicated password - I want to be clear on that - it was not a 'Colonial123'-type password," Blount said.In normal operations, the company, which runs the nation's largest oil and gas pipeline, uses a more robust authentication process to make remote access more difficult, he added. "We take cybersecurity very seriously."But Blount's testimony also showed that Colonial relies on a variety of different countermeasures to defend its systems - systems that provide more than half the oil and gas consumed by the East Coast. Last month's ransomware attack on Colonial forced a nearly-week long shutdown of its 5,500 miles of pipeline, causing a ripple effect of gasoline shortages and panic buying across parts of the East Coast.Colonial is by no means alone. Meatpacking giant JBS was hit with a similar attack, and recently disclosed that it <a href="https://www.businessinsider.com/jbs-paid-11-million-ransom-after-cyberattack-threatened-us-meat-supply-2021-6">paid $11 million to the hackers</a>. The New York subway system and a Massachusetts ferryboat operator have also recently been targeted.Indeed, the <keyword id="6355946" type="ORGANIZATION" weightage="60" keywordseo="fbi">FBI</keyword> is now working with more than 90 ransomware victims across a range of critical infrastructure sectors, deputy director Paul M. Abbate said in a press conference on the <a href="https://www.businessinsider.com/colonial-pipeline-attack-hack-ransom-recovery-us-doj-2021-6">partial recovery of Colonial's $4 million ransom payment</a>.The Wall Street Journal reported that that ransomware incidents <a href="https://whatsnews.cmail19.com/t/d-l-qhjtjit-yhuhlitidj-z/" title="https://whatsnews.cmail19.com/t/d-l-qhjtjit-yhuhlitidj-z/">have tripled in the past year,</a> according to FBI and reports from the private sector. The chief information security officer for pharmaceutical giant Johnson &amp; Johnson, told a WSJ event that her company experiences around 15.5 billion cybersecurity incidents per day.Experts told Insider that some companies reliance on patchwork cybersecurity systems means there are gaps for <keyword id="11094" type="ENTERTAINMENT" weightage="60" keywordseo="Hackers">hackers</keyword> to exploit, and that leaves key services and supply chains vulnerable to attack."These perpetrators are looking for places where there are sloppy cybersecurity practices," said Mark Testoni, CEO of SAP's national security arm, <a href="https://urldefense.proofpoint.com/v2/url?u=https-3A__sapns2.com_&amp;d=DwMFaQ&amp;c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&amp;r=HyEwRxK7HZtPThZXMtpbOw&amp;m=cukPrYvakKFHPLkUamJ7PG26w4kAK_wacoODZZpcXj4&amp;s=QXkHIjUKj7BfNm5xw6VRuexOTil8GwIn0vvvPQUGQM0&amp;e=l8GwIn0vvvPQUGQM0&amp;e=">NS2</a>. "Every company has a mosaic of systems, and they might come from a number of manufacturers."In other words, a company's investment in state-of-the-art locks and cameras on its front door could be rendered ineffective if the windows aren't well-secured too. Doug Schmidt, a professor of computer science at Vanderbilt University, said the challenge can be especially pronounced when firms acquire or merge with others that continue to depend on legacy systems, like software for a key piece of equipment that will only run on Windows 95."A given system may be fairly secure, but when you start connecting it to other systems that it really wasn't meant to work with, that leaves all kinds of opportunities for neglect, error, and surprise," he said.This can be even more problematic in lower-margin, highly consolidated industries like food and some utilities where companies might see cybersecurity more as an expense than an investment, especially for those that don't perceive themselves to be a target."Imagine how it must just be like taking candy from a baby to go and hack these low-margin businesses that are building incrementally, and have very heterogeneous long tails of inadequate, unsecured, chaotic, error-filled legacy information systems," Schmidt said.For Testoni, episodes like the recent ransomware attacks underscore the need for a change of mindset among business leaders."The most important thing that every company needs to understand is every company is now a technology company," he said. "They need to think like they're a technology company, and they have to protect both their digital assets and their physical assets."Every incremental improvement helps reduce the overall risk, Testoni said, and will pay dividends later as the world only becomes more heavily networked.Deputy Attorney General Lisa Monaco echoed that sentiment in her remarks on the Colonial ransom case, calling on corporate and community leaders to "invest the resources now.""Failure to do so could be the difference between being secure now - or a victim later," she said.

Crippling attacks on US gas and meat suppliers expose the dangers of major companies' reliance on patchwork cybersecurity

<ul><li>Jio has hiked its mobile tariff plans by as much as 35% and is set to make the Jio Phone and Jio Fiber more expensive.</li><li>While the consumers are ruing this expected hike in mobile tariffs, investors of Reliance Industries are cheering.</li><li>The company’s profit may go up by 8% and the share price may jump as much as 27% over the next one year.</li></ul> Reliance Industries, or RIL as it is popularly known, share price jumped over 1.5% on Wednesday morning, the first trading day after Jio revealed its new tariff plans that became 35% more expensive for its users. 
 
 
 
 
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 If you owned shares of RIL, you would be far more excited than if you were just a Jio customer. The tariff hike announced by Jio can boost the company’s earnings by as much as 8%, according to CLSA. The profit may grow further as JioPhone is expected to get costlier. 
 
 
 
 
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 The company reported earnings per share (EPS) of about ₹55 at the end of March 2019, and a dividend of ₹6 for every share held. If your phone usage is ₹1,000 a month, you will need 2,000 shares if you consider only the dividend amount, and it remains unchanged this year. At the current prices, it would cost you ₹32 lakh in investment. If you have that kind of capital for investment, you are probably not worried about your phone bills. This is helpful only for those frugal enough to care. But buying shares will not only save you the cost of mobile services, it can grow your capital too. 
 
 
 
 
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 CLSA expects the share price of RIL to be ₹2,010 in the next 12 months⁠— that’s a 25% gain from the current level. This is what you get aside from the dividend, which would have covered your cost. See also: <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambani-starts-another-tariff-war-with-jio-fibers-rock-bottom-tariffs/articleshow/72377446.cms">Mukesh Ambani starts another tariff war with Jio Fiber's rock-bottom tariffs</a>

Here’s a way to recover some of the rise in Jio’s new tariff plan⁠— buy RIL shares

<ul><li>At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a stronger note on Thursday, led by positive cues from the global markets. They ended at record highs on Monday, with Nifty inching closer to the 14,000 mark. At 7:45 am, the SGX Nifty was up 0.26%, indicating a green start for Nifty50. The <a href="https://www.businessinsider.in/stock-market/news/us-stocks-close-at-record-highs-as-markets-cheer-900-billion-stimulus/articleshow/80001212.cms">US stocks closed </a>at record highs on Monday as investors cheered a $900 billion stimulus package that President Donald Trump signed on Sunday. The Dow Jones Industrial Average closed 0.68% higher, and the S&amp;P 500 was up 0.87%. These are the stocks to watch out for during the trading session today: Wipro Wipro’s ₹9,500 crore share buyback will begin today (December 29) and remain open until January 11. The last date for settlement of bids on the stock exchange will be on or before January 20. Future Retail and RIL The shares of Future Retail and RIL will be in focus during the trade today. The American e-commerce giant Amazon Inc <a href="https://www.livemint.com/companies/news/amazon-asks-sebi-to-wait-for-siac-order-11609180801940.html">has asked India’s markets regulator</a> to wait for a Singapore court’s final order before clearing future group companies’ merger. Biocon Biotechnology major Biocon has launched Tacrolimus capsules, an immunosuppressant, in the US market. Tacrolimus is used in the treatment of organ transplant patients, and it reduces the body’s ability to reject a transplanted organ. Titan Titan’s board has approved to provide corporate guarantees worth ₹906 crore to various banks on behalf of Titan Commodity Trading, a wholly-owned subsidiary of the company. AU Small Finance Bank AU Small Finance Bank announced that it has partnered with the private life insurance company ICICI Prudential Life Insurance to offer need and goal-based life insurance solutions. With this arrangement, the bank said over 18 lakh customers of the bank across over 700 banking touchpoints would have easy access to the entire suite of customer-centric protection and long-term savings products of ICICI Prudential Life. Cochin Shipyard Cochin Shipyard’s board is scheduled to meet on January 4 to consider the declaration of interim dividend to the company’s equity shareholders for the financial year 2020-21. 3i Infotech IT firm 3i Infotech has entered into definitive agreements to sell its software products business to the funds advised by Apax Partners for ₹1,000 crore. The software products business will be acquired by a newly formed Azentio Software company, wholly-owned by the Apax Funds, a statement said. Reliance Capital Anil Ambani’s Reliance Group company, Reliance Capital on Monday raised objection to the proposed 33.12% stake sale of Prime Focus (PFL) by Credit Suisse to PFL’s promoter group at ₹44.15 per share. The debt-ridden firm, Reliance Capital, termed the proposed transaction as a blatant abuse of the purported rights by Credit Suisse under certain lending agreements with the RCAP Group, the company said in a statement. SBI Life Insurance The Board of Directors of SBI Life Insurance Company on December 28 approved the appointment of Shobinder Duggal as an Additional Director in the company. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/house-passes-bill-to-increase-600-stimulus-checks-to-2000/articleshow/80001571.cms" data-type="tilCustomLink">House passes bill to increase $600 stimulus checks to $2,000. It now goes to the Senate.</a> <a href="https://www.businessinsider.in/science/news/most-vaccine-skeptics-are-persuadable-and-will-get-the-covid-19-shot-says-a-nobel-prize-winner-who-studies-vaccine-hesitancy/articleshow/79995460.cms" data-type="tilCustomLink">Most vaccine skeptics are persuadable and will get the COVID-19 shot, says a Nobel prize-winner who studies vaccine hesitancy</a> <a href="https://www.businessinsider.in/stock-market/news/bitcoin-mining-stocks-surge-after-the-cryptocurrency-passes-28000-for-the-first-time/articleshow/79996286.cms" data-type="tilCustomLink">Bitcoin-mining stocks surge after the cryptocurrency passes $28,000 for the first time</a>

Top stocks to watch — Wipro, RIL, Future Retail, Reliance Capital, AU Small Finance, Biocon, Titan, and others

<ul><li>The 30-share BSE index Sensex was up 401 points, and the NSE Nifty was trading 0.92% higher at 9:55 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 opened higher on Tuesday, tracking gains in banking and energy stocks, and amidst positive cues from Asian peers on renewed hopes for a new US stimulus package. The 30-share BSE index Sensex was up 401 points, and the NSE Nifty was trading 0.92% higher at 9:55 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;">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;">Britannia </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;">Nestle 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;">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;">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;">HDFC </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;">TCS </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;">Axis 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;">SBI Life </td></tr></tbody></table>*as of October 21, 09:50 am These are the top stocks in news today. Reliance Industries gains over a percent The shares of Mukesh Ambani-led Reliance Industries gained over a percent during the early trading hours on Wednesday. This after the telecom arm of the company, Reliance Jio, and the US-based Qualcomm joined hands to fast-track the deployment of 5G mobile internet in India. Prabhat Dairy jumps 12% The shares of Prabhat Dairy jumped over 12% on Wednesday. The rally came despite the markets regulator SEBI directing Prabhat Dairy to cooperate with the forensic auditor and deposit over ₹1,292 crore in a nationalised bank within seven days until the conclusion of the audit. Hindustan Zinc trades 4% higher The shares of integrated mining and resources producer of zinc, Hindustan Zinc gained nearly 4% after its board approved the highest interim dividend in 12 years of ₹21.3 per share. Vedanta rallies 4% The shares of Vedanta rallied over 4% after it received ₹5,843 crore as a dividend amount from Hindustan Zinc. Vedanta held 64.92%, stake in the company as of September 30. L&amp;T Construction gains over a percent The shares of construction major L&amp;T were trading 1% higher after it bagged construction projects worth in the range of ₹2,500-5,000 crore from “prestigious clients.” Shriram Transport Finance gains 3% The shares of Shriram Transport Finance gained over 3% after the company said it has raised ₹100 crore by issuing bonds on a private placement basis. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-ril-ioc-ongc-cipla-hindustan-zinc-prabhat-dairy-and-others/articleshow/78780036.cms" data-type="tilCustomLink">Top stocks to watch — RIL, IOC, ONGC, Cipla, Hindustan Zinc, Prabhat Dairy, and others</a> <a href="https://www.businessinsider.in/tech/mobile/news/checkout-samsung-galaxy-m51-mobile-review/articleshow/78780771.cms" data-type="tilCustomLink">Samsung Galaxy M51 review – insane battery life</a> <a href="https://www.businessinsider.in/defense/news/india-will-be-most-consequential-partner-for-us-in-indo-pacific-this-century/articleshow/78780949.cms" data-type="tilCustomLink">US Defence Secretary believes India will be the most consequential partner for US in Indo-Pacific this century</a>

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<ul><li>A Bank of America Merrill Lynch states that <keyword id="58448" type="COMPANY" weightage="20" keywordseo="Reliance-Retail">Reliance Retail</keyword> market value , will skyrocket to a massive $200 billion in two years. </li><li>Since 90% of India’s retail market is unorganized and dominated by <keyword id="6513856" type="UNKNOWN" weightage="20" keywordseo="kirana-stores">Kirana stores</keyword> – Reliance might have a wide market to play in. </li><li>Recently, Reliance Industries backed startup Fynd launched Uniket, a direct-to-retail solution, which will help shopkeepers in Tier 2 and 3 cities go online and expand their businesses.</li></ul><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s retail venture is unlike any other global ventures. Instead of eating up mom and pop stores like every other large retailer, it is juxtaposing its new e-commerce venture on mom-and-pop stores, or kirana stores as they are called in north India, by modernizing them. This strategy of erasing lines between offline and online retail will earn it rich dividends, <a href="https://www.businesstoday.in/markets/company-stock/reliance-industries-market-capitalisation-rises-reliance-jio-jio-fiber-bofa-ml/story/385191.html">believes</a> research firm Bank of America-Merrill Lynch (BofA-ML). In its latest report, the firm predicts that Reliance Retail’s market value will skyrocket to a massive $200 billion in two years. A big chunk of the value created will come from serving the kirana stores. Since 90% of India’s retail market is unorganized and dominated by kirana stores--Reliance might have a wide market to play in. So what is it that Reliance is offering these small stores? <ol><li>Reliance Retail intends to help shopkeepers enter the new digital age and will be aided by an agile Jio, its innovation and country-wide strong network. </li><li>RIL’s Point of Sale (PoS) offering (or New commerce business, as the company calls it) will help merchants take online orders, generate GST-compliant bills, get inventory decline alerts etc. It can also help them migrate to GST and other tax regimes easily.</li><li>RIL also benefits by being able to offer Kiranas a faster delivery of replenished stocks, according to the report.</li><li>Even brands and consumers benefit in this initiative with Brands benefiting from better data analytics, better ads and promotion of their products. Customers could get access to discounts directly from brands without the merchant looking to offer incentives. Trials have already stated for this service, BoFA-ML said.</li><li>Ambani intends to add more services and offerings. At the IMC 2019 event, it introduced an app which will allow small businesses to make <a href="https://www.businessinsider.in/tech/enterprise/news/reliance-jio-is-offering-a-new-bot-maker-for-small-businesses-to-build-their-own-video-call-assistants/articleshow/71590602.cms">their own chatbot</a>. That will directly aid the millions of kirana stores which could be connected in.</li><li>Recently, Reliance Industries backed startup Fynd launched Uniket, a direct-to-retail solution, which will help shopkeepers in Tier-II and Tier-III cities go online and expand their businesses. </li></ol>The Kirana stores will take time to change their usage patterns but when they do, it could lead to its growth at breakneck speeds of 20% per annum, the research firm says. “We estimate RIL will tie-up with 5 million kiranas in FY21 and 10 million by FY22. We expect RIL to be able to charge ₹500-750 per month per kirana as a service charge for its M-POS device (rather than an upfront fee),” the report said. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Revenue estimate in ₹ million </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Implied growth </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industry avg (3-year CAGR) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,744,158 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">33.5% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,346,035 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">34.5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY22E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,818,581 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20.1% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY23E </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,282,231 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">16.4% </td></tr></tbody></table> Source: Bank of America Merrill Lynch report In the worst case of growth, this kirana business will add to $6 billion to the enterprise value to the overall base value of $36bn – that’s at least one-sixth of the additional value created come from one segment. If this business picks up faster pickup – it can contribute as much as $25 bn from new commerce and that will increase the total retail business value to $70 billion, as per Bofa-ML’s calculations. The icing on the cake for Reliance Industries’ investors will be the plan to spin off its retail and telecom ventures and list them individually. In a bid to grow fast and stave off large national and international players who are <a href="https://www.businessinsider.in/amazon-prepares-for-the-mukesh-ambani-challenge-with-a-bet-on-future-group-shares/articleshow/70799094.cms">established in the market like Amazon, Big Bazaar</a> and others, Ambani is taking the road less travelled.

Mukesh Ambani is set to make big money out of India’s millions of small kirana shops

New Delhi, Jan 1 () State-owned Oil and Natural Gas Corp (ONGC) has begun an exercise to shed excess cost at the Mumbai offshore oil and gas fields of Panna-Mukta whose control it regained after two and half decades and has already saved Rs 1 crore in the shipping cost. 
 ONGC has changed the contract for bringing oil produced from the fields lying in the Arabian Sea to land, resulting in saving of about USD 5,000 per day, sources with direct knowledge of the development said.
It is expecting an upside in production too after a re-appraisal.
Sources said the previous operators, Shell India and Reliance, had engaged a floating storage and transportation vessel from Mercator Ltd for shipping oil.
 Soon after taking over the field last month, ONGC changed the shipper to state-owned Shipping Corporation Ltd, resulting in saving of about USD 5,000 per day, they said adding the saving totals to Rs 1 crore-plus.
Sources said the company will lay a small undersea pipeline soon to completely do away with the requirement of hiring ships for transporting oil to land.
 ONGC had originally discovered the Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea off the Mumbai coast in the early 1990s. These were however taken away from the company and in 1994 awarded to a consortium of US energy giant Enron and Reliance Industries Ltd. ONGC as a government nominee was given 40 per cent back-in rights.
 Enron during its bankruptcy was taken over by BG Group of UK in 2003. BG Group's interest was subsequently taken over by Shell in 2016.
 The 25-year production sharing contracts for the PMT fields expire this week and Reliance and Shell had decided not to seek an extension for Panna-Mukta fields, resulting in them being reverted to ONGC on December 21, 2019.
 Reliance and Shell-owned BG Exploration and Production India Ltd (BGEPIL) held 30 per cent stake each in PMT.
 The Tapti fields had ceased production earlier in 2016 and the Tapti process platform facilities were handed over to ONGC (Government of India nominee) in 2016.
 Sources said ONGC sees an upside in oil and gas production from the Panna-Mukta field which it will firm up after doing a reappraisal of the reserves.
 The fields produce about 10,000 barrels of oil per day and 4 million standard cubic meters per day of natural gas.
 The production sharing contracts (PSC) for the Panna-Mukta and Tapti fields, which were executed by the PMT JV with the Government of India in 1994, expired on December 21, 2019.
 Decommissioning and site restoration of residual Tapti facilities, including five unmanned platforms and in-field pipelines, are being carried out by the PMT JV under India's first offshore decommissioning and site restoration project.
 The Panna-Mukta fields, off the Mumbai coast, have produced 211 million barrels of oil and 1.25 trillion cubic feet of natural gas since December 1994. In 2019, the average monthly production from the fields was around 10,000 barrels per day of crude oil and 140 million standard cubic feet of natural gas per day. ANZ ANU

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