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RIL may gain after upbeat announcements in AGM

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Shares of Reliance Industries (RIL) will be in focus after chairman and managing director Mukesh Ambani on Monday addressed the shareholders of the company at its 42nd annual general meeting (AGM). Domestic stock markets were shut on Monday, 12 August 2019 on account of Bakri Id.

Mukesh Ambani revealed a roadmap to becoming a zero net debt company in the next 18 months. Saudi Aramco signed a non-binding letter of intent to acquire a 20% stake in the oil to chemicals division of Reliance Industries valued at an enterprise value of $75 billion.

Mukesh Ambani said that Jio Fiber Services will be launched on commercial basis on 5 September 2019, the third anniversary of Jio's launch. RIL plans to reach 20 million residences and 15 million business establishments in 1,600 towns. Reliance Jio Infocomm (Jio), a subsidiary of Reliance Industries (RIL), and Microsoft Corp. are embarking on a unique, comprehensive, long-term strategic relationship aimed at accelerating the digital transformation of the Indian economy and society.

Bharat Petroleum Corporation (BPCL's) consolidated net profit fell 44.08% to Rs 1623.75 crore on 6.09% rise in total income to Rs 77261.95 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

NTPC reported 5.63% rise in consolidated net profit to Rs 2840.28 crore on 6.9% rise in total income to Rs 26929.85 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019.

Tata Motors unit Jaguar Land Rover said that retail sales in July 2019 were 37,945 vehicles, up 5% compared to July 2018. Jaguar retail sales in July 2019 were 11,386 vehicles, up 3.6% year-on-year and Land Rover retailed 26,559 vehicles, up 5.6% compared to July 2019. The announcement was made after market hours on Friday, 9 August 2019.

NHPC's consolidated net profit rose 16.15% to Rs 989.27 crore on 11.12% rise in total income to Rs 2756.05 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

Godfrey Phillips India's consolidated net profit rose 106.49% to Rs 118.63 crore on 40.01% rise in total income to Rs 824.78 crore in Q1 June 2019 over Q1 June 2018. The result was announced on Saturday, 10 August 2019.

Steel Authority of India reported 81.4% drop in consolidated net profit to Rs 102.68 crore on 6.11% fall in total income to Rs 15043.53 crore in Q1 June 2019 over Q1 June 2018. The result was announced after market hours on Friday, 9 August 2019.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, August 13 2019. 08:44 IST
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