NEW DELHI: Reliance Industries, India’s largest company by market capitalization, announced its financial results for the first quarter on Friday. The conglomerate, which has interests spanning from retail to telecom, reported a profit that fell short of analysts’ expectations. The lower margins on fuel sales were cited as the primary reason for the disappointing performance.The…
Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Friday. While BSE Sensex dipped below 81,300, Nifty50 was near 24,750 levels. At 9:18 AM, BSE Sensex was trading at 81,244.50, down 99 points or 0.12%. Nifty50 was at 24,748.50, down 52 points or 0.21%.The market showed resilience and…
NEW DELHI: Shoppers Stop, India’s oldest department store chain, plans to enter luxury retailing with large-format standalone stores that will sell brands such as Gucci and Louis Vuitton, one person aware of the company’s plans told ET. The new format will also house the Aditya Birla Group’s luxury store The Collective, the person said. The…
Anant Ambani, the youngest son of Reliance Industries Chairman Mukesh Ambani, and Radhika Merchant, daughter of industrialist Viren Merchant, are set to tie the knot on July 12. Ahead of their much-anticipated wedding, the Ambanis and the Merchants have hosted a grand pre-wedding celebration on a luxurious cruise. The extravagant journey, which began in Italy,…
The Adani Group, led by billionaire Gautam Adani, is looking to diversify its empire by venturing into the fast-growing e-commerce and digital payments sectors in India, according to a report by the Financial Times (FT). The move comes as the conglomerate seeks to build a digital business to compete with rivals such as Tata, Google,…
Reliance Industries share price today: Reliance Industries (RIL), led by billionaire Mukesh Ambani, on Monday announced its quarterly earnings for the January to March period. After the release of these results, several brokerages have raised their target prices for the company’s stock. As per an ET report by Nikhil Agarwal, the boost in target prices…
RIL Q4 results: Mukesh Ambani-led Reliance Industries on Monday reported a Profit After Tax (PAT) of Rs 18,951 crore for the fourth quarter of the financial year ending March 31, 2024. India’s largest by market value reported a near 2% fall in fourth-quarter profit to $2.27 billion, hurt by higher expenses. According to the company…
Reliance Industries (RIL), Tata Motors, and Indian Oil Corporation (IOC) are set to be the primary bidders for the government’s experimental project involving green/grey hydrogen (H2) in the transportation sector. This initiative aligns with the government’s goal to decarbonize the Indian economy, lessen reliance on fossil fuel imports, and position India as a leader in…
MUMBAI: In a first, the sub-continent’s wealthiest billionaires who are also among world’s richest industrialists, Mukesh Ambani and Gautam Adani, are entering a ‘power’ deal. Ambani will pick up a minority stake in a power unit of Adani, their companies announced Thursday. Ambani’s Reliance Industries will purchase 26% in Mahan Energen, a wholly owned subsidiary…
NEW DELHI: Mukesh Ambani‘s Reliance Industries has acquired a 26 per cent stake Gautam Adani’s power project in Madhya Pradesh. Reliance eyes to utilize 500 MW of electricity from the project for its captive use.The agreement involves Reliance purchasing 5 crore equity shares in Mahan Energen Ltd, a subsidiary of Adani Power Ltd. The deal,…
