An Overview Shares of Reliance Industries (RIL) set a new all-time high of Rs 2,477.70 and are up 4% on the BSE in early morning sessions on Monday. After market hours on Friday, the company announced that its subsidiary had purchased a majority stake in Strand Life Sciences Pvt Ltd’s genomic testing business for Rs …
An Overview Various blue-chip firms contributed rupees 2,93,804.34 crore in market valuation last week, after a record-breaking rally in stocks, with RIL emerging as the highest booster. Previous week, the BSE 30-share benchmark rose 2,005.23 points, or 3.57 percent. On Friday, it surpassed the 58,000 barrier for the first time. Last week, the Sensex only …
Surge in FPI inflows Foreign portfolio investors (FPIs) were net buyers in domestic markets in the month of August, the overwhelming majority of which was in the debt instruments. They put in just 2,082.94 crore in equities, while they put in 14,376.2 crore in debt between August 2-31, according to depositories data. So far this …
Indian companies have altogether raised more than US$3.43 billion via ECB (external commercial borrowings) in July 2021. According to data from the RBI, Indian companies had borrowed US$2.15 billion in July 2020, so there’s a 60% increase in ECB from last year. A total of US$3.03 billion from borrowings in July 2021 was derived from …
On Thursday, RRVL (Reliance Retail Ventures Ltd.) informed that it had acquired the sole control of 25-year-old firm Just Dial. Just Dial is a search and discovery firm, also popularly known as a local business listing search engine. The move makes way for Reliance Industries to have access to Just Dial’s vendor and organisation database. …
SEBI appealed against SAT’s (Securities Appellate Tribunal) split verdict on the Punjab National Bank Housing – Carlyle case. Further, as per its BSE filing on 2 September, PNB Housing is currently inspecting SEBI’s appeal. The company also added that the market regulator had filed an appeal with the apex court against SAT’s order. Here’s a …
Surge in GST Collection The Goods and Services Tax (GST) collection hit rupees one lakh crore in August, up by around 30 percent year-on-year, indicating a strong resurgence in commercial activity following the second wave of the pandemic outbreak. Even when compared to August revenues of 98,202 crore in 2019-20 [a non-pandemic year], this is …
Even as India’s GDP growth data for the first quarter of the fiscal has come in, the country’s chief economic adviser (CEA) K V Subramanian has noted that the numbers reinforce the government’s stance that a V-shaped recovery is on the cards. A V-shaped recovery is a term used to describe a sudden decline of …
An Overview For the second month in a row, the August PMI statistics indicated an improvement in overall operating conditions. A number above 50 indicates expansion, whereas a score below 50 indicates contraction. “The Indian manufacturing sector continued to rebound in August, although growth slowed as demand showed symptoms of contraction due to the epidemic. …
An Overview ICICI Bank’s stock has surpassed the ₹5 trillion market capitalization record, with a gain of nearly 35% so far this year. The stock closed at 719.20 per share on the BSE on Wednesday, up 0.05 percent from its previous finish, with a market capitalization of a little under ₹5 trillion. Analysts believe that …
