At this month's AGM, Ambani promised to induct 'global partners and investors' in retail over the next few quarters
Aggressive expansion plans have led to cost overrun, sliding profits for Future Group firms
Facebook wants to use the Jio deal to get thousands of small businesses on-boarded onto WhatsApp to do commerce in India
All that happened in the markets today
For the April-June period, RIL reported a profit befote tax (PBT) of Rs 8,542 crore against Rs 14,366 crore in the year-ago period.
The June quarter results by Reliance Industries will be a major focus in the markets today. Besides, investors will also react to global cues, Covid-19 trends and other corporate results
From Reliance Industries reporting dip in profit-before tax, Tony Fernandes cutting AirAsia exit price to $50 mn to Air India pitching leave-without-pay scheme, here are the top news on Friday morning
Ebitda for the June quarter grew 55.4 per cent to Rs 7,281 crore
Net profit surges 31%, boosted by exceptional gain of Rs 4,966 crore from BP transaction
The study is based on 351 companies' data from Capitaline Plus, where LIC held over 1 percentage point stake in the June quarter. These companies accounted 72% of total m-cap of BSE-listed companies
Its total income stood at Rs 95,626 crore against Rs 165,199 crore recorded in April-June 2019 indicating improved margins
Revenue from operations came in at Rs 91,238 crore, down 43.8 per cent from the June 2019 quarter
Reliance Industries Ltd on Thursday reported a better-than-expected net profit of Rs 13,248 crore in the June quarter on the back of exceptional income. Net profit was Rs 10,141 crore in the same period a year back, the company said in a regulatory filing. The company said it recognised exceptional gain of Rs 4,966 crore from stake sale.
All that happened in the markets today
The quarterly results announcement by Reliance Industries and HDFC will be the major market mover today. Analysts expect a dent in RIL's retail and energy verticals in the June quarter
The Sensex closed at 38,071, down 422 points, or 1.1 per cent. Nearly 4 per cent decline in RIL accounted for 57 per cent of the losses
Prasad owned a total of 640,000 RIL shares and his compensation stood at Rs 11.15 crore in FY20.
An analysis of 12 brokerage research reports shows that expectations for RIL's net profit for the quarter ended June 2020 ranges from Rs 4,600 crore to Rs 8,083 crore.
The expiry of derivative contracts of the July series tomorrow may keep today's session volatile
Here are the top business headlines on Wednesday morning