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.
The proposed skyTran transportation systems would consist of computer-controlled passenger pods.
With this unit, the company intends to rope in Saudi national oil company Aramco by selling up to 20 per cent equity.
In its petition, Amazon sought enforcement of the Singapore arbitrator's ruling in October against its partner Future's Rs 24,713 crore deal with Reliance.
During the afternoon trade, the market valuation of Reliance Industries Ltd (RIL) was at Rs 12,42,593.78 crore on the BSE.
During the quarter, grocery business and electronics stores sustained double-digit growth, while the fashion and lifestyle business delivered a strong rebound, surpassing the pre-COVID levels.
