ALL UPDATES

  • August 28, 2023 16:14

    Santosh Meena on RIL AGM announcements

    Santosh Meena, Head of Research, Swastika Investmart Ltd.

    The AGM held by Reliance was largely uneventful for the market. The key highlight was the succession plan. However, the company’s stock experienced a decline due to the absence of clear timelines regarding the telecom and retail IPOs.

    Presently, the market’s attention is shifting towards the global scenario, which exhibits some degree of stability. Nonetheless, lingering uncertainties on a global scale, particularly stemming from developments involving the US and China, continue to influence market sentiment.

  • August 28, 2023 16:00

    Reliance AGM live updates: Mukesh Ambani’s five goals for RIL and India

    1. Digital Tools Everywhere

    2. Green Energy and Green Materials Everywhere

    3. Financial Empowerment, Entrepreneurship, and Gainful Employment Everywhere

    4. Healthy and Responsible Consumption Everywhere

    5. Quality Education and Healthcare Everywhere

  • August 28, 2023 15:56

    Nita Ambani stepped down from the board of RIL, says Mukesh Ambani

    Nita Ambani has stepped down from the Board of Directors of Reliance. She will continue to be the Chairperson of Reliance Foundation, and in that role, she will attend all Board meetings as a permanent invitee to the Board. And as always, we will continue to benefit from her advice.

  • August 28, 2023 15:55

    RIL Board recommends appointment of Isha, Akash, Anant to the board

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    RIL Board recommends appointment of Isha, Akash, and Anant Ambani on the Board of Directors. Its truly an emotional day for me. It reminds me of the day when my father inducted me to the Board of Directors when I was only 20 years old, says Mukesh Ambani.

    I shall continue to be the Chairman and MD for 5 more years, he added.

    I shall especially mentor Akash, Isha and Anant so that they can provide collective leadership and dependably take Reliance to greater heights of growth and value in the decades ahead, he added.

  • August 28, 2023 15:52

    Reliance AGM live updates: Here’s what Mukesh Ambani said RIL’s next decade

    I am supremely confident that the value that your company will create for all its stakeholders over the next decade will be multiple times greater than what it has generated over the past 45 years.

  • August 28, 2023 15:51

    Ambani: RIL has become a precious Indian institution

    RIL is building a strong pipeline of young professional leaders, he added.

  • August 28, 2023 15:50

    Shares of Jio Financials were at ₹210.10, down by 2.05% on the NSE. Reliance Industries shares were at ₹2,436.95, down by 1.27% on the NSE.

  • August 28, 2023 15:50

    Reliance AGM live updates: Our growth driven by superior customer experience, says Mukesh Ambani

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    RIL’s growth has been driven by the power disruptive technologies and innovations. We are obsessed with providing good and services of the highest quality, leading to high revenue growth. We have laser sharp focus on prudent capital management and efficient allocation

  • August 28, 2023 15:44

    Reliance AGM live updates: Ambani: Reliance is proof of the power of dreams, says Mukesh Ambani

    Growth driven by perpetual demand is one of our principles, Ambani added.

  • August 28, 2023 15:43

    We have taken the first steps in hosting olympics in india. We are bringing the Olympic movement back to India, says Nita Ambani

    “As a member of the International Olympic Committee, it has been my dream to bring the Olympics to India. I’m happy to share with you that we have taken the first steps in that direction. In October this year, we will host the 141st IOC Session at the Nita Mukesh Ambani Cultural Centre. You’ll be proud to know that for this historic session bid, there were 75 votes cast for India, and only 1 vote against. So, with a thumping majority, we are bringing the Olympic Movement back to India after a gap of 40 years, “ Nita Ambani said.

  • August 28, 2023 15:42

    Reliance AGM live updates: India has track record of making affordable drugs and vaccine. We aim to support to develop drugs and diagnostics, says Bill Gates

  • August 28, 2023 15:36

    Reliance AGM live updates: I am impressed by India’s innovation in science and technology, says Bill Gates

    India is making progress when it comes to climate change, he added.

  • August 28, 2023 15:35

    Reliance Foundation ties up with Melinda Gates Foundation

    In partnership with the Bill and Melinda Gates Foundation, we launched a special initiative to empower one million women entrepreneurs across India. Over the next three years, this initiative will support and engage women in farm and non-farm income generating activities, helping them achieve an annual income of at least ₹1 lakh.

    “The Gates Foundation and Breakthrough Energy are excited to partner with Reliance. I believe there is no problem too big for the innovators of India and the world. I look forward to making continued progress against some of the world’s greatest challenges together—and helping many more people live healthy, productive lives,” he added.

  • August 28, 2023 15:32

    Reliance AGM live updates: Our vision is to connect 250 million children to education and employment opportunities through the power of 5G, says Nita Ambani

  • August 28, 2023 15:30

    Reliance AGM live updates: Welcomed over 20 lakh visitors to NMACC since the opening of the centre, says Nita Ambani

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    I represent the beating heart of Reliance, our beacon of empowerment and transformation – the Reliance Foundation. For us, business and philanthropy complement and reinforce each other as both are guided by same spirit of We Care, Nita Ambani said.

    From Culture to Climate, Education and Sports to Women’s Empowerment, Healthcare to Livelihoods, Rural Transformation to Disaster Mgmt, we work in over 54,000 villages. We have so far touched lives of over 70 million Indians, she added.

  • August 28, 2023 15:28

    Reliance AGM live updates: Here’s what Mukesh Ambani said on Reliance Foundation

    “I am very proud of the work Reliance Foundation (RF) has been doing under the leadership of Nita Ambani. Be it in the use of technology or being amongst the first to provide relief to those affected by disasters, or working with partners, our Reliance Foundation teams are working tirelessly to make lives better for millions of Indians,” Mukesh Ambani said.

  • August 28, 2023 15:26

    Reliance AGM live updates: Here’s what Mukesh Ambani said on India’s energy trilemma

    Affordable, sustainable and safe energy is a trilemma India is facing. Reliance’s new energy and new materials business squarely addresses this trilemma. Reliance has a golden chance to transform India from a net energy importer to a net energy exporter, Ambani said.

  • August 28, 2023 15:24

    Reliance AGM live updates: RIL has become India’s latest bio energy producer, says Mukesh Ambani

    We have become India’s latest bio energy producer by setting up two biogas plants for compressed bio gas in Jamnagar. Our target is to set up 100 such CBG plants in the next 5 years consuming 5.5 million tonnes of agro residue and organic waste, and, thus, mitigating 2 million tonnes of carbon emissions

  • August 28, 2023 15:22

    Reliance AGM live updates: Progressing well on Rs 75,000 crore investment in new energies, says Mukesh Ambani

  • August 28, 2023 15:20

    Reliance AGM live updates: Here’s what Mukesh Ambani said on Solar PV cells and modules mfg

    We will be deploying leading-edge Heterojunction Technology for manufacturing one of the highest-efficiency Solar PV cells and modules globally, for utility scale and roof-top power generation. We will further continue to innovate and maintain global leadership

  • August 28, 2023 15:19

    We will set up a fully integrated automated gigs scale electrolysed manufacturing facility in Jamnagar, says Mukesh Ambani

  • August 28, 2023 15:17

    Reliance AGM live updates: We will venture into wind power generation, says Ambani

    One of the significant cost drivers in manufacturing of wind blades is carbon fiber. Our foray into manufacturing carbon fiber at large scale provides us with a unique advantage to further integrate and reduce costs of wind turbines, says Mukesh Ambani

  • August 28, 2023 15:16

    Reliance AGM live updates: Here’s what Mukesh Ambani said on Giga facility in Jamnagar

    Priority is to deliver solar giga facility in Jamnagar. This will be one of the largest most technologically advanced, flexible and cost competitive solar giga factory global and we’ll be converting sand into solar PV modules.

    We will further leverage our engineering and construction capabilities, along with our giga-scale manufacturing

    ecosystem, to accelerate and enable installation of at least 100 GW of renewable energy generation by 2030, he added.

  • August 28, 2023 15:14

    Our target is to be among the top three players globally in the Carbon Fibre and Carbon Fibre Reinforced Plastic composites, says Mukesh Ambani

  • August 28, 2023 15:11

    Reliance AGM live updates: We are well on our way to manufacturing new energy ecosystem, says Mukesh Ambani

    “We are accelerating our journey to achieve Net Carbon Zero by 2035 through use of Renewables and Bioenergy for a sustainable and green business. We are well on our way to build the New Energy ecosystem of manufacturing Solar, Wind, Batteries, Hydrogen, and Bio-energy platforms. This will enable us to speed up development of our Renewable generation assets to deliver round-the-clock electricity for our captive requirements as well as to meet the growing needs of Indian consumers,” RIL Chairman said.

  • August 28, 2023 15:10

    Reliance AGM live updates: Here’s what Mukesh Ambani said on K-G Basin

    We are pursuing further enhancement with our exploration efforts in KG-UDW1 and KG-UDW2 blocks in the Krishna-Godavari Basin with an aim to sustain gas production over the next 15-20 years. Reliance is today India’s only company with proven capabilities in exploring and producing oil and gas from deep and ultra-deep blocks. We will leverage these capabilities in related renewable energy areas like Off-shore Wind and Geothermal.

  • August 28, 2023 15:08

    Reliance AGM live updates: RIL has revived gas production from the KG6 block with partner bp plc, says Mukesh Ambani

    Successfully commissioned MJ field deep water project. RIL is on its way to enhance production to 30 mscmpd. RIL is the only company in india producing oils and gas from deep and ultra deep water-blocks, he added.

  • August 28, 2023 15:06

    Reliance AGM live updates: Jio Financial Services to enter insurance sector, says Mukesh Ambani

    JFS will enter insurance segment, partner global players. The digital first architecture of JFS gives it a headstart to reach billions of Indians. RIL has capitalised JFS with a net worth of Rs 1.2 lakh crore, he added.

  • August 28, 2023 15:02

    Reliance AGM live updates: India lies at the heart of our global platform, says Larry Fink, CEO, BlackRock

    Global investors recognise that India is at the cutting edge of digital transformation. We see enormous potential for growth in India’s AMC sector. BlackRock’s presence in india grown to 1000s of employees in Mumbai, Gurgaon and Bangalore, he said..

    There is unprecedented opportunity to transform the AMC industry through digital solutions and technology, he added.

  • August 28, 2023 15:00

    Reliance AGM live updates: Jio Financial Services plans to democratise financial services for 1.42 billion Indians with simple, affordable solutions, says Mukesh Ambani

    JFS JV with Blackrock will offer innovative investment services, Ambani added

  • August 28, 2023 15:00

    We play role of facilitator across all aspects of retail commerce in India, says Isha Ambani

    We remain resolute in our vision to play the role of a facilitator across all aspects of retail commerce in India, and work with merchants across the country so that the entire society benefits. Together, we hope to continue to exceed expectations, inspire creativity, and bring joy to our customers. This is our promise.

  • August 28, 2023 14:57

    Reliance AGM live updates: There has been a 9x growth of Jio Mart on WhatsApp since its launch, says Isha Ambani

    JioMart onboard 25,000 artisans, weavers and micro entrepreneurs, she said.

    Over 1.6 lakh products of artisans representing 150+ cities across 24 states are available on our platforms. Many of these products are made by our highly skilled tribal craftsmen. We are determined to further increase their participation in the coming years, she added.

  • August 28, 2023 14:57

    Reliance AGM live updates: Have started with the work of taking Campa Cola global, says Isha Ambani

    We have acquired with several heritage Indian brands for our fmcg business like campa cola, she said.

  • August 28, 2023 14:56

    Reliance AGM live updates: Ajio catalogue size crossed 13 lakhs, says Isha Ambani

  • August 28, 2023 14:55

    Reliance AGM live updates: Sold 5 lakh laptops and 23 lakh appliances in our electronics retail business, says Isha Ambani

    Continue to be the partner of choice for international brands across segments, she added.

  • August 28, 2023 14:54

    Reliance AGM live updates: 18 lakh tonnes of groceries sold in FY23, says Isha Ambani

    We spend time understanding what customers want and create new products, formats, and platforms. We consider our business a success only when it leads to shared prosperity for millions of stakeholders, she added.

    Our digital and new commerce sales contributed about ₹50,000 cr, accounting for a fifth of revenues. We have invested over $10 bn in last 2yrs, focusing on integration, growing in-house brands, and improving supply chain, Isha Ambani said.

  • August 28, 2023 14:52

    Reliance AGM live updates: Reliance Retail has partnered with 13 lakh merchants, says Isha Ambani

    Reliance Retail currently serves over 98% of India’s pin codes through offline, online channels.

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    Reliance Retail has more than 2.5 lakh employees on its rolls.

  • August 28, 2023 14:50

    Reliance AGM live updates: Several marque global investors have shown strong interest in Reliance Retail, says Isha Ambani

    Invested over $10 billion in the past two years in Reliance Retail, Isha Ambani added.

  • August 28, 2023 14:48

    Reliance AGM live updates: JioCinema has now become India’s largest digital entertainment destination, says Mukesh Ambani

    JioCinema has now become India’s largest digital entertainment destination for blockbuster movies, OTT originals, the biggest reality shows, and exclusive content from leading global studios like HBO and NBCU. In short, JioCinema delivered industry-leading engagement metrics, registering strong growth in paid subscribers, the Chairman said.

  • August 28, 2023 14:46

    Reliance AGM live updates:India must harness AI for innovation and growth, says Mukesh Ambani

    AI Revolution is reshaping the world around us, and sooner than we think, intelligent applications will redefine and revolutionise industries, economies, and even our daily life. To stay globally competitive, India must harness AI for innovation, growth, and national prosperity.

  • August 28, 2023 14:43

    Reliance AGM live updates: Reliance goes big on AI

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    We are ready to deploy 2000 MW of AI computing, says Mukesh Ambani.

    Jio promises AI to everyone and everywhere. We need AI ready digital infra to handle high computation requirements. Thus we committed to deploy 2000MW for AI computing, RIL Chairman added.

  • August 28, 2023 14:42

    Reliance AGM live updates: Akash Ambani unveils True 5G lab

    :Today, we are also announcing the Jio True5G Lab, a facility designed to accelerate industry transformation using Jio True5G. In this facility, our technology partners and enterprise customers can develop, test, and co-create multiple industry-specific solutions. The inaugural Jio True5G Lab will be located at the Reliance Corporate Park, acting as the nerve centre for shaping India’s 5G future,” Akash Ambani said unveiling True 5G lab. The inaugural true 5G lab will be located at Reliance corporate park.

  • August 28, 2023 14:41

    Reliance AGM live updates: Akash Ambani unveils Jio Developer Platform

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    Jio developer platform can help enterprises unlock 5G capabilities through network slicing, Akash Ambani said.

  • August 28, 2023 14:38

    Reliance AGM live updates: Jio is leading the change, says Akash Ambani

    Entertainment is changing rapidly worldwide, shifting from linear to interactive. Jio is accelerating this trend in India. Our Set-Top Box supports JioCinema and JioTV+, with leading global streaming apps.

  • August 28, 2023 14:37

    Reliance AGM live updates: Jio Set-Top box is gateway to a world of entertainment, says Kiran Thomas

    Jio Set-Top box is gateway to a world of entertainment, from TV channels to streaming content, to large-screen games, to digital apps. The Jio Smart Home app includes eRemote for Jio Set-Top Box. You can use smartphone as a gamepad.

  • August 28, 2023 14:35

    Reliance AGM live updates: Jio smarthome will transform your home into an intelligent, convenient living space

  • August 28, 2023 14:35

    Reliance AGM live updates: Cloud gaming will be accessible from home, says Kiran Thomas, says Kiran Thomas, President, Reliance Industries.

    Working closely with partners like HP and Google for JioCloud PC, he added.

  • August 28, 2023 14:33

    Reliance AGM live updates: Jio Home photo feature allows you to access your photos anywhere, says Kiran Thomas, President, Reliance Industries

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    Jio home smart automation will integrate seamlessly with your home devices, integrate with your security cameras, he added.

  • August 28, 2023 14:32

    Reliance AGM live updates: 3.2 cr concurrent users were reported during IPL finals

  • August 28, 2023 14:31

    Reliance AGM live updates: Jio Smart Homes will offer multiple services such as seamless wifi router and strengthen network security, says Akash Ambani

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    Using Jio Home app you can decide who gets access to home broadband, says Reliance Jio Inocomm Chairman.

  • August 28, 2023 14:29

    Reliance AGM live updates: Jio platforms to provide end to end services to enterprises in India and abroad, says Mukesh Ambani

    We have golden opportunity to catch up and build enterprise business, that mirrors in scale to our consumer business. Jio platforms to provide end to end services to enterprises in India and abroad, says Ambani.

  • August 28, 2023 14:28

    Reliance AGM live updates: Jio AirFibre launch on Ganesh Chaturthi

    We can currently connect around 15,000 premises daily, says Mukesh Ambani on JioAirFiber. The services will be launched on Ganesh Chaturthi.

  • August 28, 2023 14:26

    Reliance AGM live updates: JioFibre has crossed 10 million users, says Mukesh Ambani

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    With JioAir fibre can super charge expansion of home broadband to 150,000 users a day, in three years target 200 million users

  • August 28, 2023 14:25

    Reliance AGM live updates: Continuous innovation has positioned us to be among the first globally to develop 6G capabilities, says Mukesh Ambani

    Jio’s own portfolio of 5G radios range from small cells to large tower-based radios, addressing the entire spectrum of outdoor and indoor usage scenarios. And our focus on continuous innovation has positioned us to be among the first globally to develop 6G capabilities.

  • August 28, 2023 14:24

    Reliance AGM live updates: We have become one of the largest filers of patent. We will drive made in India tech stack, says Mukesh Ambani

  • August 28, 2023 14:23

    Reliance AGM live updates: Average user now consuming over 25 GB every month on Jio, says Mukesh Ambani

    Per-user data consumption on Jio’s network has also surged, with the average user now consuming over 25 GB every month. This translates to a monthly data traffic of 1100 crore GB, representing a 45% year-on-year growth. When we look at geopolitical situation there is dark clouds hovering but there is certainty that India will rise, says Mukesh Ambani

  • August 28, 2023 14:23

    Reliance AGM live updates: Jio 5G is the only true 5G in India, says Mukesh Ambani

    We have also built our own low-power small cells to go deeper into specific pockets of high consumption, like tourist spots and temples, in a highly energy-efficient manner. These advantages, along with our massive scale of deployment, mean that the best 5G coverage, capacity, and experience is possible only with Jio 5G.

  • August 28, 2023 14:22

    Reliance AGM live updates: We have transformed Jio from a mere implementer to innovator, says Mukesh Ambani

  • August 28, 2023 14:20

    Reliance AGM live updates: Net port-ins via MNP were 5 times our nearest competitor, says Mukesh Ambani

  • August 28, 2023 14:19

    Reliance AGM live updates: Jio has 50 million 5G customers now, says Mukesh Ambani

  • August 28, 2023 14:19

    Reliance AGM live updates: We are the only operator to convert our 4G customers to 5G with low capex, says Mukesh Ambani.

  • August 28, 2023 14:18

    Reliance AGM live updates: We are the only company with capacity to transition entire 4G to 5G with minimum capital, says Mukesh Ambani.

  • August 28, 2023 14:18

    Reliance AGM live updates: Jio used own 5G stack to become first operator to launch mm wave services commercially, says Mukesh Ambani.

  • August 28, 2023 14:18

    Reliance AGM live updates: We have built low powered small cells to go deeper into high usage areas, says Mukesh Ambani.

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  • August 28, 2023 14:17

    Reliance AGM live updates: We are adding 1 5g cell to our network every 10 second, says Mukesh Ambani on Reliance Jio 5G.

  • August 28, 2023 14:16

    Reliance AGM live updates: Nearly 85% of 5G cells operating in India are part of Jio’s network. We will complete the rollout by Dec 23, says Mukesh Ambani

  • August 28, 2023 14:15

    Reliance AGM live updates: In just nine months of roll out, Jio 5G is present in 96 percent of census towns, says Mukesh Ambani

  • August 28, 2023 14:15

    Reliance AGM live updates: Jio has been the main catalyst of new India’s digital transformation, says Mukesh Ambani

  • August 28, 2023 14:14

    Reliance AGM live updates: Jio was launched 7 years ago to transform India into a premier digital society, says Mukesh Ambani.

  • August 28, 2023 14:13

    Reliance AGM live updates: Jio posted Rs 1,19,791 crore revenue, up 20% y-o-y, says Mukesh Ambani

  • August 28, 2023 14:12

    Reliance AGM live updates: Jio’s overall customer base has crossed 450 million subscribers, says Mukesh Ambani

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  • August 28, 2023 14:12

    Reliance AGM live updates: Reliance set new record by creating 2.6 lakh jobs across all our businesses, says Mukesh Ambani

  • August 28, 2023 14:11

    Reliance AGM live updates: RIL contributed Rs 1,77,173 crore to the national exchequer, says Mukesh Ambani

  • August 28, 2023 14:11

    Reliance AGM live updates: RIL’s exports jumped 33% to Rs 3.4 lakh crore in FY23, says Mukesh Ambani

  • August 28, 2023 14:10

    Reliance AGM live updates: Indian business community should work together as a coalition to transform India by 2047, says Mukesh Ambani

  • August 28, 2023 14:10

    Reliance AGM live updates: I hugely admire achievement of start-ups in India, says Mukesh Ambani

  • August 28, 2023 14:10

    Reliance AGM live updates: What is true of RIL is true of scores of other Indian enterprises, says Mukesh Ambani

  • August 28, 2023 14:09

    Reliance AGM live updates: We have become a new age tech company. We are a producer and deployer of tech, says Mukesh Ambani

  • August 28, 2023 14:08

    Reliance AGM live updates: We have shown impeccable execution capabilities by delivering on all our plans, says Mukesh Ambani

  • August 28, 2023 14:07

    Reliance AGM live updates: Reliance has cumulatively invested $150 billion in the last 10 years higher than any corporate in India, says Mukesh Ambani

  • August 28, 2023 14:07

    Reliance AGM live updates: More than $150 billion has been ivnested by RIL in the last 10 years, says Mukesh Ambani

  • August 28, 2023 14:07

    Reliance AGM live updates: The new Reliance has been a forerunner of emerging new India, says Mukesh Ambani

  • August 28, 2023 14:06

    Reliance AGM live updates: India will rise as a leading nation in an increasingly multipolar world, says Mukesh Ambani

  • August 28, 2023 14:06

    Reliance AGM live updates: When we look at geopolitical situation there are dark clouds hovering, but there is certainty that India will rise, says Mukesh Ambani

  • August 28, 2023 13:17

    Reliance AGM live updates: Stock gains over 0.2% ahead of Ambani’s speech

    The stock price of Reliance Industries gained 0.22% or Rs 5.5 on NSE to trade at Rs 2,473. The intraday high was Rs 2,484, while the intraday low was Rs 2,463.

  • August 28, 2023 13:14

    Recap: RIL Q1 FY24 net profit slips 11% to ₹16,011 crore

    Reliance Industries consolidated net profit in the June quarter fell 10.8 per cent year-on-year to ₹16,011 crore, weighed down by its dominant oil-to-chemicals business. The revenue at 2.1 lakh crore was down 5.3 per cent year-on-year.

    Both net profit and revenue were also down sequentially. The numbers were below street estimates that had forecast net profit at ₹16,509 crore and revenue at ₹2.15 lakh crore.

    The company’s EBITDA, at ₹41,982 crore, however, rose 5.1 per cent due to the consumer and the upstream businesses that offset the decline in O2C (oil-to-chemical) revenue. Read our complete report here.

  • August 28, 2023 12:11

    VK Vijayakumar on Reliance AGM

    VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services

    “Market will be keenly watching for any indications on value unlocking in Reliance Retail and Telecom businesses. Also any announcements regarding the status of the mega green energy and battery projects also will be keenly watched.”

  • August 28, 2023 11:36

    Mehta Equities’ Prashanth Tapse on Reliance Industries AGM and stock outlook

    “All eyes would be on RIL AGM and its announcement focusing on Jio Financial future outlook post demerger and other high hopes on Future Retail IPO, Reliance Jio IPO and company’s succession plans in the future. RIL has a lot of plans on cards for value unlocking which started from Jio Financials but first initial reactions post listing did not meet the D-street’s expectations,” Prashanth Tapse, Research Analyst Sr VP Research, Mehta Equities Ltd, said.

    “I believe Mukesh Ambani would be focusing more on the Jio Financial plan of action in coming days, which would give a road clear for further value unlocking of retail and Jio telecom ventures. Technically RIL is under short buildup trend so any close above Rs 2,500 can be a turning point for the stock and AGM highlights will be highly watched. We are neutral and investors should wait and watch for the AGM outcome before taking any action in RIL and Jio Financial,” Tapse added.

  • August 28, 2023 11:28

    Should you buy Jio Financial Services stock?

    From a discovered price of ₹261.85 a share to Friday’s closing of ₹212.25 a share, the stock of Jio Financial Services has had its brush with reality. It is understood that institutional investors, mainly mutual funds owning the stock are dumping it, causing this fall. The 18 per cent decline (till Friday) in share price is being termed as ‘technical adjustments’.

    Should JFS stock excite you?

    Fundamentally, there’s not much to support JFS’ investment thesis. It may have a fabulous business model but that’s still on paper. The execution and collection teams, which are key for the lending and insurance businesses, remain the critical missing pieces. Read our comprehensive analysis here.

  • August 28, 2023 11:23

    Recap: Fresh investments into Reliance Retail Ventures

    Last week, Qatar Investment Authority announced that it will invest ₹8,278 crore (around $1 billion) in Reliance Industries’ subsidiary, Reliance Retail Ventures for 0.99 per cent equity stake at an equity valuation of ₹8.3 lakh crore, double that of three years ago

    In 2020, Reliance Retail Ventures had raised ₹47,265 crore from a clutch of global investors for a 10 per cent equity stake.

    The equity valuation had then been ₹4.2 lakh crore. The company said in an exchange filing that the transaction valued RRVL “among the top four companies by total equity value in the country.” Read our complete report here.

  • August 28, 2023 10:59

    Jio Financial Services gains 2.4% on a large trade update

    Jio Financial Services has over 22 lakh shares changing hands in a large trade. Buyers and sellers identity not known immediately.

    The stock gained 2.82% to trade at Rs 220.55 on NSE.

  • August 28, 2023 10:57

    RIL AGM live updates: IPO plans for retail, telecom arms in focus

    When Mukesh Ambani addresses shareholders on Monday, investors expect the billionaire to divulge more details on the initial public offering plans for its retail and telecom units, say media reports.

    Ambani, Chairman of Reliance Industries Ltd, will address shareholders at its 46th annual general meeting by video on Monday. His once-a-year speech to investors — similar to Warren Buffett’s annual letters to Berkshire Hathaway shareholders — has over time evolved into an highly anticipated pageant, when the tycoon announces grand new initiatives.