The Indian stock market, Morgan Stanley believes, is transitioning into one that will be driven by macros and stock-picking will likely lose importance
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Jio users to receive 18 months of free Google AI Pro access as telecom giant positions for AI infrastructure business
Earlier this year, Jio's rival telecom operator Airtel also partnered with AI firm Perplexity to offer its subscribers free access to Perplexity Pro for 12 months
The Sensex, Nifty slipped on Thursday on account of profit-taking as benchmark traded near record high levels coupled with volatility owing to Sensex monthly expiry.
RIL to finalise bankers for Jio Platforms' IPO by year-end; listing expected in first half of 2026, likely to be India's biggest at around $6 billion; recalibrates Russian oil imports amid US sanction
Crude Oil prices have soared 7% in the last two weeks following fresh US sanctions on Russian oil imports. Back home, shares of oil exploration and marketing companies look favourably placed on charts
The BSE Sensex climbed 720.20 points, or 0.85 per cent, to hit an intraday high of 84,932.08, while the NSE Nifty50 advanced 210.80 points, or 0.81 per cent to 26,005.95
RIL shares were among the top gainers, rising over 2 per cent, after it incorporated REIL, a joint venture with Meta
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Reliance also agreed to follow EU guidelines on imports of refined oil products into Europe amid widening sanctions on Russian crude trade
The oil refining giant said that it is assessing the implications of restrictions and sanctions by the EU, the UK and the US on crude oil imports from Russia
A team from Reliance has travelled to China to speed up the work, one of the sources said
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now. Industry sources said public-sector units are assessing compliance risks but are unlikely to halt Russian crude flows immediately as they buy almost all of their needs from traders, mostly European (who are out of the sanctions net). Billionaire Mukesh Ambani's Reliance Industries Ltd - India's largest buyer of Russian crude, accounting for roughly half of the country's 1.7 million barrels per day of imports from Moscow - may however have to recalibrate its imports as it buys crude oil directly from Russia's Rosneft, they said. Reliance had in December 2024 signed a term deal with Russia's Rosneft - now sanctioned - to import as much as 500,000 barrels per day of Russian oil for 25 years. It also buys oil from intermediaries. The company did not immediately respond to
Reliance, which operates the world's largest refining complex at Jamnagar in Gujarat, has a long-term deal to buy nearly 500,000 bpd of crude oil from Russian major Rosneft
While Reliance's typical diet does include crude from the region, the recent spurt of buying was more active than usual
RIL reported a consolidated net profit of ₹18,165 crore in Q2FY26, up 9.7 per cent year-on-year (Y-o-Y) but down 32.7 per cent quarter-on-quarter (Q-o-Q) from ₹26,994 crore in Q1FY26.
In the past, Reliance had seen a gap-up open post Q4FY25 results in April following which the stock rallied over 19% in the next three months. Here's a trading strategy at current levels.
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Reliance benefited from benign raw material and crude oil prices