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The Economic Times

Over 2,400 BSE stocks slip into red, 240 hit lower circuits. Vodafone Idea tanks 14%

Over 2,400 BSE stocks fell on Friday, erasing Rs 5 lakh crore in value. Reliance Industries, ICICI Bank, and SBI triggered a 1,000-point Sensex drop. Vodafone Idea plunged 14% amid Goldman Sachs' bleak forecast, contributing to broad market losses.

CNBC TV18

PTC Industries raises ₹700 crore by selling shares to Motilal Oswal, HSBC, others

Shares of PTC Industries have surged more than 150% in value over the last 12 months.

Mint

India's top 10 companies lose combined ₹1.66 lakh crore in market value; Reliance, LIC biggest laggards

Indian markets experienced a turbulent week, with the top 10 companies witnessing a significant decline in their combined market capitalisation. While Reliance Industries and LIC were the hardest hit, HUL and ITC managed to buck the trend.

The Economic Times

Reliance Industries Invests Rs 4,330 cr in Retail Unit in FY24

Reliance Industries invested Rs 4,330 crore into its flagship retail company, Reliance Retail, in the past fiscal year, a shift from previous reliance on debt funding. The investment, made through its subsidiary RRVL, included both equity and debt. Reliance Retail transferred its supply chain assets to RLWH at a valuation of Rs 8,000 crore. This move aims to unlock value from assets and improve cash flow, following recent investments by ADIA and KKR in RLWH.

Business Line

Reliance Industries Share Price Highlights 28 June 2024: RIL hits ₹21-lakh cr mcap, gains over 2% on bullish analyst outlook

Reliance Industries share price updates: Reliance Industries Ltd (RIL) achieved a market value exceeding ₹21-lakh crore, making it the first Indian company to attain this milestone. Based on recent analyst reports, RIL is poised for strong growth driven by strategic moves in its telecom and energy sectors. Jefferies has upgraded its recommendation on RIL to “Buy” and raised its target price to ₹3,580 following Jio’s implementation of tariff hikes ranging from 13% to 25%. These adjustments are expected to impact FY25-27 estimates positively, with anticipated revenue and profit after tax (PAT) compound annual growth rates (CAGR) of 18% and 26% respectively over FY24-27. The revisions include minor tweaks in RIL’s EBITDA forecasts for FY25/26 to reflect Jio’s performance metrics, highlighting the telecom segment’s pivotal role in driving overall growth. Reliance Industries stock closed at ₹3,126.95 on the BSE on Friday, up by 2.15%, and at ₹3,128.25 on the NSE, up by 2.19%.

The Economic Times

Rise in value-seeking customers, key FMCG sectors face tampering of growth: Report

The report highlighted a significant shift in consumer spending patterns with a rise in value-seeking buyers, which is evident across consumer businesses. While the consumer may increase their spending on leisure activities, suggesting a good performance for the aviation and hotel industries in FY2024-25, it added.