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.
Future Retail Ltd's shares hit the upper circuit of Rs 81.35, rising 4.97 per cent from the previous close.
Of the 30 components of Sensex, three closed in the red including Tech Mahindra, ITC and M&M, shedding up to 0.54 per cent.
"As such, the sole nefarious purpose of linking the name of Reliance to these laws is to harm our businesses and damage our reputation," it said.
The losers were led by Nestle India, ITC, HUL and Kotak Bank were among the gainers.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,909.60 crore on Tuesday, according to provisional exchange data.
