Last week, nine of the top 10 most valued firms together lost a whopping Rs 2,09,952.26 crore from market valuation. Hindustan Unilever and Reliance Industries Limited took the biggest hit.
Reliance Industries Limited (RIL) reported quarterly consolidated revenue at Rs 2.58 lakh crore for Q2 FY25.
Revenue for Jio Platforms increased by 11.7 per cent Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU.
The market construct is favourable for consolidation around current levels and gradual up move, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
RIL's green hydrogen foray is part of its Net Carbon Zero target by 2035. Falling renewable cost and scale economics will lower green hydrogen cost. Given the capex intensity, RIL's strong balance sheet and backward integration puts it in the driver's seat in the US$ 74 billion opportunity, foreign brokerage, Jefferies said in a report.
Reliance was the top loser in the Sensex pack, plunging 2.52 per cent, followed by HUL, Asian Paints, Kotak Mahindra, Nestle, NTPC and Power Grid Corp.
Digital and omnichannel are focus areas in Retail where disclosures didn't include segmental details.
During the week, the Sensex declined 438.51 points or 0.87 per cent, while the Nifty shed 32.50 points or 0.21 per cent.
The bench also stayed the single judge order to attach assets of Future Group's Kishore Biyani and others directing them to appear in the court on April 28.
Following the large-cap markets, the broader markets also plunged with MidCap and SmallCap closing at 1.3 and 1.6 per cent down respectively.
