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The combined market valuation of 6 of the top-10 most valued firms surged by Rs 74,111.57 crore last week, with Reliance Industries emerging as the biggest gainer. Last week, the BSE benchmark climbed 177.36 points, or 0.23 per cent. "Markets ended the week with marginal gains amid a highly volatile and range-bound trading environment. Benchmark indices witnessed sharp intraday swings throughout the week, driven by persistent rupee weakness, mixed global cues, sectoral rotation, and continued uncertainty around inflation and interest rates," Ajit Mishra SVP, Research, Religare Broking Ltd, said. From the top-10 pack, Reliance Industries, ICICI Bank, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, and Life Insurance Corporation of India (LIC) were the gainers, while HDFC Bank, Bharti Airtel, State Bank of India and Hindustan Unilever faced erosion from their valuation. Reliance Industries added Rs 24,696.89 crore, taking its market valuation to Rs 18,33,117.70 ...
The Andhra Pradesh government on Wednesday approved the allotment of over 800 acres of land in Vizianagaram district to Reliance Industries Ltd at a discounted rate of 25 percent for the establishment of a Giga Scale AI Data Centre (AIDC) with Cable Landing Station at an investment of over Rs 1 lakh crore. IT Secretary Bhaskar Katamneni directed Andhra Pradesh Industrial and Infrastructure Corporation (APIIC) and Vizianagaram district administration to identify an additional acre of land suitable for the Cable Landing Station (CLS). "The government accords approval for allotment of 854.97 acres of land in Vizianagaram district to Reliance Industries Limited, at a 25 percent discounted rateThe land allotment is intended for establishment of a Giga-Scale AIDC with CLS, with proposed cumulative investment of Rs 1.08 lakh crore," said Katamneni in a Government Order (GO). APIIC identified land for the mega project in Polipalli, Bhogapuram West and Bhogapuram East villages in Vizianagara
Reliance Industries Limited (RIL) and two other foreign firms on Wednesday told the Supreme Court that they would write to the Centre for mediation in the Krishna-Godavari basin gas migration dispute. The matter was mentioned before a bench of Chief Justice Surya Kant and Justices Joymalya Bagchi and Vipul M Pancholi. "All the petitioners will be writing to the Government of India today seeking mediation... We are submitting that let us attempt mediation," the counsel appearing for the firms told the apex court. The counsel urged the bench that hearing in the case may be stopped till the mediation outcome. However, Attorney General R Venkataramani, appearing for the Centre, requested the court to continue with the hearing in the case listed today. "If, in the meantime, anything will happen, we will inform the court," the top law officer said. The bench declined to stop the hearing and said the parties may inform it about the outcome of mediation. "If you come with a successful .
The combined market valuation of nine of the top 10 valued firms eroded by Rs 3.12 lakh crore last week, with Reliance Industries taking the biggest hit. Last week, the 30-share BSE Sensex plunged by 2,090.2 points, or 2.7 per cent, while the 50-share NSE Nifty declined 532.65 points, or 2.2 per cent. "Markets ended the week lower, breaking out of their three-week consolidation phase amid lingering geopolitical tensions in West Asia, persistent weakness in the rupee, and rising inflationary concerns," Ajit Mishra SVP, Research, Religare Broking Ltd, said. The sharp rise in crude oil prices above the USD 105-per-barrel mark intensified worries over imported inflation, fiscal stress, and pressure on corporate margins, he said. From the top-10 pack, Bharti Airtel emerged as the only winner. The market valuation of Reliance Industries tumbled Rs 1,34,445.77 crore to Rs 18,08,420.81 crore. State Bank of India's valuation eroded by Rs 52,245.3 crore to Rs 8,88,862.32 crore. The valua