Six of top10 most valued firms add Rs 86,847.88 crore
Last week, six of the top 10 most valued firms together added Rs 86,847.88 crore in market valuation.
Last week, six of the top 10 most valued firms together added Rs 86,847.88 crore in market valuation.
The stock of Reliance Industries Limited (RIL), India's largest company by market capitalisation, has slipped by 23 per cent from its highest level in July this year.
During a conversation with Mukesh Ambani in Mumbai, Huang said, “This is an excellent opportunity for India to have a large population and a large population of computer engineers. This is such an extraordinary time. I am honoured and privileged to get to partner with you for this.”
Last week, the combined market valuation of nine of the top 10 most valued firms jumped by Rs 95,522.81 crore. Reliance Industries, TCS and HUL emerged as the biggest gainers.
Reliance Industries and Life Insurance Corporation of India gas emerged as the biggest laggards in line with weak trend in equities.
RIL's acquisition of Future Group's warehousing and logistics business, in addition to its stores, will help expand the scale of JioMart, RIL's online grocery platform.
1. Reliance Retail Limited, a subsidiary of RRVL, operates India's largest, fastest growing retail business. 2. RIL announced that US private equity firm Silver Lake Partners will invest Rs 7,500 crore for 1.75 per cent stake in its RRVL.
Silver Lake will invest Rs 7,500 crore in Reliance Retail Ventures (RRVL), a subsidiary of Reliance Industries, for a 1.75 per cent stake.
It is worth mentioning that Silver Lake was the first US private equity firm to invest in Jio.
Late last month, Reliance acquired the retail and logistics businesses of Future Group for Rs 24,713 crore to boost its retail vertical.
