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Aug 28, 2023 4:03 PM

Market At Close | Market Closes With Minor Gains Led By Financials

- Broader markets continue to outperform benchmark indices

- Sensex rises 110 points to 64,997 & Nifty 40 points to 19,306

- Nifty Bank gains 263 points to 44,495 & Midcap Index 191 points to 38,662

- Reliance Indudstries ends the session at day's low, drags Nifty by 19 points

- HDFC Bank, L&T, M&M, Power Grid are the top Nifty contributors

- Adani Group stocks witness a mixed close following the SEBI report submission

- Indiabulls Housing surges 11 percent on reports of the company applying to be an NBFC company

- Piramal Enterprises gains more than 4 percent ahead of analyst meet

- Defence stocks continue to rise on order wins, BEL and BHEL up 1 to 3 percent

- Railway stocks witness buying, IRCTC is the top gainer with the stock rising 3 percent

- Vodafone Idea surges to nearly one-year high, Indus Towers move higher too

- HC dismissing ED action against VP Nandakumar lifts Manappuram, stock up 3 percent

- Bharat Forge gains more than 2 percent as the company wins defence order of nearly Rs 300 crore

- GMR Airports witnesses profit booking for the second-straight day, down more than 2 percent

- Tata Motors slips despite the FM's comment of no reduction to EV import tax

- Market breadth favours advances, advance-decline ratio at 5:3

Aug 28, 2023 3:54 PM

Rupee At Close | Rupee Ends At 82.63 Against USD

The Indian currency ended at 82.65 against the greenback on Friday

Aug 28, 2023 3:40 PM

Reliance AGM 2023 Live Updates | Progressing to deploy Rs 75,000 cr to build new energy manufacturing ecosystem: Mukesh Ambani

At the 46th AGM of Reliance Industries, Mukesh Ambani, the Chairman and Managing Director of RIL said the company is progressing well to deploy Rs 75,000 crore to build new energy manufacturing ecosystem. "This will enable us to accelerate giga-scale production for round-the-clock power and for large-scale Green Hydrogen production for green chemicals manufacturing, as well as for green mobility," he said.

He further said, "Our transition to Net Carbon Zero and building a sustainable chemicals business will result in increased revenue, reduced energy costs, improved profitability, and providing a near perennial growth platform in India and overseas for our Materials and Energy Business."

Read more here

Aug 28, 2023 3:39 PM

Market At Close | Nifty 50, Sensex End In The Green

- Nifty 50 ends 0.18 percent up at 19,300.50

- Sensex ends 0.17 percent up at 64,996.60

Aug 28, 2023 3:33 PM

Reliance Industries Share Price Update | Stock Slips Into The Red

Shares of Reliance Industries are trading 1.4 percent lower as the company's 46th AGM is underway.

Aug 28, 2023 3:28 PM

Stock Market Live Updates | Reliance AGM: Jio promises AI to everyone, everywhere: Mukesh Ambani

Reliance Industries Limited Chairman Mukesh D Ambani on Monday, August 28, said Jio Platforms will now focus its efforts on "India-specific artificial intelligence (AI) models and AI-powered solutions across domains". Addressing the shareholders virtually at the company's annual general meeting, Ambani said "Jio promises AI to everyone, everywhere".

Ambani said India needs to be at the forefront of the global AI revolution, which has taken the world by storm this year.

Addressing shareholders, Ambani said, "To stay globally competitive, India must harness AI for innovation, growth, and national prosperity."

Read more here

Aug 28, 2023 3:24 PM

Stock Market Live Updates | Reliance AGM: Mukesh Ambani Says Media And Ent Biz Created Huge Disruption As JioCinema Led The Way

Reliance Industries’ chairman Mukesh Ambani said on Monday the Media and Entertainment business created "a huge disruption last year, with JioCinema leading the way". Backing his claims, he said that for the first time, IPL was streamed free on JioCinema and "created a global record with a staggering 45 crore viewers tuning in to the platform". Ambani announced this while speaking at 46th annual general meeting (AGM) of shareholders on Monday.

He added that more people watched IPL on digital devices than on linear television, "marking a tectonic shift in the way content is consumed in India". As per him, over 12 crore people watched the IPL final, "with a peak concurrency of 3.2 core, making it the most watched digital event globally".

Read more here

Aug 28, 2023 3:22 PM

Stock Market Live Updates | Reliance AGM: Mukesh Ambani reveals big plans for JFS

Just like Jio and Retail, Jio Financial Services will be an invaluable addition to RIL's consumer business

Mukesh Ambani gives three reasons for his confidence in Jio Financial Services:

1. The digital first architecture will give it an unmatched headstart.

2. This is a highly captial-intensive business and RIL has capitalised JFS with a net worth Rs 1.2 lakh crore (one of the highest capital for any financial services business in the world).

3. It's being led by KV Kamath, a financial sector veteran, who formerly led ICICI Bank and then, later, the BRICS Bank.

Shares of Bajaj Finance, the largest NBFC in India, are trading nearly 0.6 percent higher. Jio Financial Services is the second largest NBFC in the country after Bajaj Finance.

Aug 28, 2023 3:17 PM

Stock Market Live Updates | Reliance AGM: Jio Financial Services' partnership with Blackrock, says RIL Chairman Mukesh Ambani

Jio Financial Services' partnership with Blackrock, the world's largest asset management company with over $11 billion in assets, will deliver tech-enabled, affordable and innovative solutions, says RIL Chairman Mukesh Ambani

Aug 28, 2023 3:06 PM

Stock Market LIVE Updates | Nita Ambani Resigns From RIL Board, To Continue As Reliance Foundation Chairperson

In a strategic move, Nita Ambani, Founder Chairperson of Reliance Foundation, will step down from the Board of Directors of Reliance Industries Ltd (RIL) while retaining her position as Chairperson of the Reliance Foundation.

This transition is aimed at further amplifying the foundation's mission to transform the lives of marginalised and under-resourced communities across India.

Read more here

Aug 28, 2023 3:00 PM

Stock Market Live Updates | Reliance AGM: Retail Valuation Doubled from September 2020 To Rs 8.28 Lakh Crore

The valuation of Reliance Industries' retail business doubled from Sep 2020 at Rs 4.28 lakh crore to Rs 8.28 lakh crore at present, chairman Mukesh Ambani said on Monday. Ambani was speaking at Reliance Industries' 46th annual general meeting (AGM).

The oil-to-chemical-to-retail conglomerate’s retail arm last week announced a fresh investment of Rs 8,278 crore by Qatar Investment Authority (QIA) for a 0.99 percent stake. The investment will value the firm at Rs 8.27 lakh crore. This would rank Reliance Retail among the top four companies by total equity value in the country.

Read more here

Aug 28, 2023 2:59 PM

Stock Market Live Updates | Vedanta Snaps Two-Day Losing Streak

Shares of Vedanta have snapped their two-day losing streak and are trading 2 percent higher.

The stock is down 13.7 percent in the past month and 24.6 percent this year, so far.

Aug 28, 2023 2:44 PM

Stock Market LIVE Updates | Reliance AGM 2023: Board Recommends Isha Ambani, Akash Ambani & Anant Ambani As Non-Executive Directors

The board of directors of Reliance Industries Limited (RIL), at its 46th Annual General Meeting held on Monday, recommended an approval of the appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the company.

As per the details put out, this decision is taken after the recommendation of the Human Resources, Nomination and Remuneration Committee and the appointments will take effect from the date the three assume office after an approval by the shareholders.

Read more here

Aug 28, 2023 2:41 PM

Stock Market Live Updates | Reliance AGM 2023: Jio AirFiber to launch on Ganesh Chaturthi September 19, Says Mukesh Ambani

Reliance Industries’ chairman Mukesh Ambani addressed the 46 annual general meeting (AGM) of shareholders on August 28 where he said that Jio AirFiber will launch on the occasion on Ganesh Chaturthi, September 19.

He also added that JioAirFiber will increase company's addressable market over the next three years to over 200 million high-paying homes and premises.

"Today, Jio’s optical fibre infrastructure spans over 1.5 million kilometre across India. This immense scale puts us in a league of our own, far ahead of competition. And every day, we are laying a further 1000 km of fibre, demonstrating the true strength of Reliance’s execution capabilities," he said.

Read more here

Aug 28, 2023 2:39 PM

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