Broader indices suffer deeper cuts; SmallCap index declines 3%; RIL sinks 4% after calling off deal with Saudi Aramco
Saudi Aramco was suppose to acquire 20 per cent stake in Reliance's oil to chemicals (O2C) business
Reliance Industries' stock needs to defend Rs 2,340, whereas Bharti Airtel can jump up to 12%
Bharti Airtel has hiked tariff on pre-paid plans by 20-25 per cent.
RIL shareholders had recently passed a resolution in October to appoint Saudi Aramco Chairman Yasir Al-Rumayyan as an independent director to the conglomerate's board
RIL and Saudi Aramco signed a non-binding letter of intent in August 2019 for a potential 20 per cent stake acquisition by Saudi Aramco in the O2C business of Reliance.
RIL now plans to take in partners in its new energy and specialty chemical businesses which means its subsidiaries will take different directions based on their requirement for technology tie-ups
RIL withdraws application to separate Oil to Chemicals business
The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months
The purchases by Reliance blazed through trading rooms in Mumbai, helping the five-year sovereign bond outperform as banks and brokerages sought to fulfill the orders, say sources
Reliance Industries declined by 1.91 per cent, Kotak Bank by 1.51 per cent, Bharti Airtel by 1.39 per cent and Titan by 1.2 per cent
This, days after the Centre brought ordinances to allow ED and CBI directors to occupy the office up to five years
Auto stocks outperform on reports that chip shortage may be easing; Cement stocks decline on reports of price cut in Delhi-NCR
Independent directors say Amazon.com deliberately misled India's competition regulator about the true nature of its 2019 investment in Future Coupons.
The holders of its partly-paid shares will have to pay Rs 628.5 by November 29
The directors also wrote to CCI that Amazon has obtained approval by making deliberate misrepresentations
To assist investors on the issue, Reliance has re-activated WhatsApp Chatbot
It owes creditors Rs 7,500 crore now
We are going to show the true face of Amazon to the whole world, said FRL independent director Ravindra Dhariwal
The bench was also hearing a counter plea by Amazon, seeking to restrain the regulators from approving the merger deal