Reliance Industries is top Indian company in Forbes Global 2000 list
Business | May 13, 2022 13:30 ISTEarlier this year, Forbes estimated Mukesh Ambani's net worth to be $90.7 billion, landing him at No.10 on this year's Billionaires list.
Earlier this year, Forbes estimated Mukesh Ambani's net worth to be $90.7 billion, landing him at No.10 on this year's Billionaires list.
The stock has been quoting lower for the past many days and further slumped 3 per cent to Rs 2,542.10, amid a weak trend in the broader market.
The BSE benchmark Sensex dived 617.26 points or 1.08 per cent to end at 56,579.89. During the day, it plummeted 840.28 points or 1.46 per cent to 56,356.87. The broader NSE Nifty declined 218 points or 1.27 per cent to 16,953.95.
The oil-to-telecom conglomerate will invest Rs 5 lakh crore in the state to set up 100 gigawatts (GW) renewable energy power plant and green hydrogen ecosystem development, the firm said in a statement.
On the Sensex chart, Maruti, Infosys, Tech Mahindra, ITC, Reliance, L&T, UltraTech Cement and HDFC were the major losers, dropping as much as 2.62 per cent.
Sensex ended 314.04 points or 0.52 per cent lower at 60,008.33, extending losses for the second straight day. Similarly, the Nifty fell by 100.55 points or 0.56 per cent to 17,898.65.
Ambani recently outlined plans to pivot into renewable energy with a $10 billion investment by his Reliance Industries.
The market heavyweight gained 1.70 per cent to close at Rs 2,525.20 on the BSE. During the day, it jumped 1.85 per cent to its record high of Rs 2,529.
Reliance Industries is weighing a bid for Deutsche Telekom AG's Netherlands subsidiary, according to people familiar with the matter, Bloomberg reported.
Consolidated net profit of Rs 12,273 crore in April-June compared with Rs 13,233 crore a year, the company said in stock exchange filing.
Equity benchmark Sensex tanked 587 points on Monday, tracking heavy losses in HDFC twins, Reliance Industries, and Axis Bank amid a weak trend in global markets.
At the company's annual general meeting of shareholders last month, Ambani announced a plan to invest Rs 75,000 crore in a new energy business over the next 3 years in the next stage in its transformation.
Noting that both Jio and Retail are at the beginning of their journey, Mukesh Ambani said that both have an embedded culture of continuous value creation.
In July last year, Mukesh Ambani, who is the chairman and managing director of Reliance Industries Ltd, had set a 2035 deadline for his company to turn net carbon zero, echoing views of his global peers in fighting climate change.
The market heavyweight stock has jumped 14.53 per cent in seven trading sessions to hit a high of Rs 2,250 on Thursday.
Reliance BP Mobility Ltd, the fuel retailing joint venture of Reliance Industries Ltd and BP, has deployed a mobile fuel bowser in Mumbai for supplying fuel free of cost to ambulances on COVID-19 duty, a company statement said on Tuesday.
Shares of Reliance Industries are in huge demand, extending its winning run for the fourth day and rallying almost 10 per cent.
Shares of Reliance Industries, the country's most valuable company by market valuation, on Friday were in heavy demand and closed with a jump of 6 per cent.
Amid a surging second wave of COVID-19 in the country, Reliance Industries (RIL) has ramped up production of medical oxygen to 1000 metric tons per day, making it India's largest producer of medical-grade liquid oxygen from a single location.
The UK-based firm, which owns a hotel and golf course in Buckinghamshire, UK, will add to Reliance's consumer and hospitality assets, the firm said in a filing late on Thursday.
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