Thank you readers! Here are the key highlights from today's session

- Market Erases 1st Half Gains; Sensex & Nifty End Near Flatline

- Sensex Falls 758 points From Highs To End 19 points Higher At 36,052

- Nifty Slips 209 Points From Highs To Close 11 Points Higher At 10,618

- Midcap Index Declines 249 Points From Highs To Close 100 Points Lower At 14,952

- Nifty Bank Slips 595 Points From Highs To Close 51 Points In The Red At 21,341

- Reliance Slips 7% From Highs To Close With A Cut Of 4% On Profit Taking

- Reliance Industries Announces Investment Of Rs 33,737 Crore By Google In Jio Platforms

- RIL Announces Development Of Made-In-India 5G Solution By Jio; Field Deployment Next Year

- Bharti Airtel & Vodafone Idea Fall As Reliance Ind Announces More Jio developments

- Financials With Exposure To Voda Idea Slip; IndusInd, IDFC First Bank Fall

- Bandhan Bank & Federal Bank End 1-2.5% Lower After Q1 Earnings

- Wipro Surges 17% After Reporting Margin Beat In Q1; Other IT Shrs Gain Too

- Market Breadth Favours Declines; Advance-Decline Ratio At 1:2

Jul 15, 2020 3:45 PM

Closing Bell: Sensex, Nifty end on a flat note; IT stocks rise, RIL, Bharti Airtel drag

Indian indices pared gains to settle on a flat note on Wednesday as gains in IT stocks were capped by losses in index heavyweights RIL and Bharti Airtel. RIL shares fell over 4 percent on profit booking after the company's chairman announced a new strategic partnership with Google. The Sensex ended 19 points higher at 36,052 while the Nifty rose 11 points to settle at 10,618. The top 5 gainers on the Nifty50 index were all IT stocks - Wipro, Infosys, HCL Tech, Tech Mahndra, and TCS, up between 2.7 percent and 17 percent. Meanwhile, RIL, Bharti Airtel, Zee, GAIL, and Bharti Infratel led the losses.

Jul 15, 2020 3:34 PM

Benchmark indices now trading in the red territory

Jul 15, 2020 3:26 PM

RIL AGM: Mukesh Ambani proposes to spin off the oil-to-chemicals business into a separate entity

Addressing shareholders at the company's 43rd AGM, Mukesh Ambani said RIL will spin off the oil-to-chemicals (O2C) business into a separate entity and induct strategic partners. 'Will approach NCLT with our proposal to spin off our O2C biz into a separate subsidiary,' Ambani announced. The oil-to-chemical business has outperformed in a challenging environment, he said, adding that this accounted for 50 percent of India's export. He further announced that RIL has been approached by strategic investors in its petrochemicals business.

Jul 15, 2020 3:22 PM

Jul 15, 2020 3:10 PM

Edelweiss files defamation suit against Moody’s

Edelweiss Financial Services has sued rating agency Moody’s Corporation for $100 million or Rs 750 crores for misreporting its financials in its recent report. Edelweiss has sought another Rs 100 crore in exemplary damages from the rating agency in its suit filed at the Bombay High Court. In its May 18 report titled, “Economic Slowdown Worsened by Coronavirus will Exacerbate Liquidity Stress”, Moody’s had highlighted risks to NBFCs, including Edelweiss, due to their weak liquidity profiles, and exposure to vulnerable sectors. More here

Jul 15, 2020 3:01 PM

Market Update: Indices off day's high; RIL turns flat

Indian indices were off day's high but were trading around 0.5 percent higher. Gains in IT stocks were capped by losses in index heavyweights RIL and Bharti Airtel. RIL shares turned red on profit booking after the company's chairman announced a new strategic partnership with Google.

Jul 15, 2020 2:49 PM

RIL is now truly a net debt free company ahead of schedule: Mukesh Ambani

Jul 15, 2020 2:36 PM

RIL AGM: Google to invest over Rs 33,000 crore for 7.7% stake in Jio Platforms

Reliance Industries chairman Mukesh Ambani announced that Google will invest Rs 33,737 crore for a 7.7 percent stake in Jio Platform. This makes it the 14th investment in Jio Platforms in less than 3 months. Speaking at RIL's 43rd annual general meet, Ambani said that it welcomes a new strategic partnership with Google. He added that including Google the company has raised Rs 1,52,056 crore in last few months from strategic investments.

Jul 15, 2020 2:26 PM

Market Update: Indices jump around 2%; top gainers and losers at this hour

Jul 15, 2020 2:12 PM

RIL AGM Update

Jul 15, 2020 2:11 PM

RIL AGM 2020 LIVE Updates: Mukesh Ambani addresses first virtual shareholder's meet

Catch live updates from the RIL AGM here

Jul 15, 2020 2:01 PM

Currency update: Sharp upmove seen, Rupee at day's high

Jul 15, 2020 1:52 PM

India's auto sales to take 3-4 years to return to peak levels

India's auto sales volume will not return to the peak levels seen in 2018 for another three-to-four years, an industry body executive said on Tuesday, as the COVID-19 pandemic has aggravated disruption in a sector already hit by weak demand. In the fiscal year that began on April 1, sales of cars, sport utility vehicles (SUVs), motorbikes and trucks have already fallen 75 percent from a year ago to about 1.5 million vehicles, data released by the Society of Indian Automobile Manufacturers (SIAM) showed. More here

Jul 15, 2020 1:38 PM

Steel Strip Wheels share price rises 4% on export orders

Steel Strip Wheels share price rose 4 percent after the company received export orders. The company has received new orders for Mobile Home market from the US. The order comprises of almost 8,200 steel wheels to be executed in the month of August from its Chennai plant.

Jul 15, 2020 1:26 PM

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