Reliance Industries' partners are considering joining the arbitration that the Mukesh Ambani-run firm is planning to initiate against the government for slapping a $1.55 billion demand for "unfairly enriching" by producing natural gas

Reliance Industries Limited (RIL) and US global conglomerate GE on Thursday announced a global partnership in the Industrial Internet of Things (IIoT) space to boost digital transformation.

Relentless selling by foreign investors also dampened the sentiments in the equity market

The project will result in the creation of 2.50 lakh jobs, and earn an estimated ₹57,650 crore in taxes and duties for Andhra Pradesh over a period of 25 years, according to the Memorandum of Understanding signed on Tuesday

This is the largest clean energy investment by Reliance Energy in India outside of Gujarat

The bulk of the recent drop in Reliance’s shares follows disappointing results last month

The oil to telecom conglomerate while announcing its quarterly results ending March Fy20 approved a rights issue which is the first in 29 years to mop up Rs. 53,125 crore. So, here is a low down on whether or not

The oil to telecom conglomerate while announcing its quarterly results ending March Fy20 approved a rights issue which is the first in 29 years to mop up Rs. 53,125 crore. So, here is a low down on whether or not

Despite reporting a fall in profits in the January-March quarter, the 10% stake sale in Reliance Jio to Facebook and the biggest-ever rights issue in India of Rs 53,000 crore that Reliance Industries announced on Friday has made brokerage firms stay firm on their ‘buy’ calls for India’s most valuable company.

Reliance Industries share price extended gains in the late afternoon trade on Thursday, jumping over 2%, while headline index Sensex mostly traded in red, even as RIL denied the buzz about talks with Microsoft for further investment in its telecom arm Jio.

Reliance Industries controlled by Mukesh Ambani, Asia’s richest person, is in discussions with banks for a potential sale of its 4.9% stake in Asian Paints Ltd. through a series of block trades.

1. Reliance Industries Limited’s First Rights Issue In Three Decades Likely To Open On 22 May  Swarajya
2. Reliance announces record date for ₹53,125 crore rights issue  Livemint
3. RIL fixes May 14 as record date for rights issue  Economic Times
4. Should You Invest In Reliance Industries Rights Issue?  Goodreturns
5. View Full coverage on Google News

Reliance Industries' partners are considering joining the arbitration that the Mukesh Ambani-run firm is planning to initiate against the government for slapping a $1.55 billion demand for "unfairly enriching" by producing natural gas

Reliance Industries Limited (RIL) and US global conglomerate GE on Thursday announced a global partnership in the Industrial Internet of Things (IIoT) space to boost digital transformation.

Reliance Industries to sell its Asian Paints stake worth Rs 7000 cr via block deal: Sources

Surge in Reliance Industries shares led to the company's market capitalization surpassing Rs 10 lakh crore mark for the second time.

Q4 Ebitda was in line with estimates; RIL on track to be debt free by end FY21, which could drive rerating; TP revised to Rs 1,618.

Share markets in India are presently trading on a positive note. Benchmark indices advanced today tracking firm global cues.

Further, talks of an economic stimulus for small businesses battered by the coronavirus outbreak improved sentiment.

Reportedly, the government may unveil fiscal stimulus amounting to 0.3% of the country's gross domestic product, focusing on small and medium sized businesses, real estate firms and banks.

The BSE Sensex is trading up by 524 points while the NSE Nifty is trading up by 146 points.

The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.9% and 0.7%, respectively.

Sectoral indices are trading mixed with stocks in the energy sector and telecom sector witnessing buying interest, while power stocks are witnessing selling pressure.

The rupee is currently trading at 75.44 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,134.

Speaking of the current stock market scenario, after a sharp rally in the past few weeks, the markets have turned volatile again.

You would be interested in knowing when the market will likely bottom out.

Vijay Bhambwani, editor of Weekly Cash Alerts, has the answer and he has recorded a video about it.

You can check the same here - This is When the Stock Market Will Bottom Out

Moving on, market participants are tracking Shree Cement share price, TCI Express share price, and SBI Cards and Payment Services share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Ambuja Cement, IndusInd Bank, Axis Bank, Tech Mahindra, Reliance Industries, Marico, Kansai Nerolac, NIIT Technologies, Persistent Systems, SKF India.

In news from the banking sector, public sector banks (PSBs) sanctioned loans worth Rs 5.66 lakh crore for the March-April period to 41.81 lakh accounts, according to the finance ministry.

The borrowers represented the micro small and medium sized enterprises (MSMEs), retail, agriculture and corporate sectors.

Reportedly, PSB loans amounting to Rs 265 billion have been sanctioned in 2.37 lakh cases for MSMEs.

This is part of the PSB initiative to prioritise pre-approved emergency credit lines and enhanced working capital requirements to the sector.

Meanwhile, PSBs sanctioned loans worth Rs 773.8 billion to non-banking financial companies (NBFCs) and housing finance companies (HFCs) between March 1 and May 4.

Including the Reserve Bank of India's (RBI) targeted long term repo operations (TLTRO) window, PSBs extended Rs 1.08 lakh crore of financing to ensure business stability and continuity.

The finance ministry said that the three-month loan moratorium facility announced by the RBI has been availed by 3.2 crore PSB accounts.

On Thursday, Finance Minister Nirmala Sitharaman said that the Indian economy is poised to recover from the recent crisis brought upon by the coronavirus pandemic with PSB sanctioning loans worth Rs 5.66 lakh crore in just two months.

Speaking of the banking sector, the low access to credit for micro small and medium enterprises (MSMEs) tells us there is a huge opportunity for lenders.

This is evident from the chart below:

India's Huge Lending Opportunity

Of the 60 million MSMEs in India, only 11% had access to credit from organised lenders. Most of them are self-financed or get credit from unorganised sources.

Here's what Tanushree Banerjee wrote about this in one of the editions of The 5 Minute WrapUp...

• Self-financing limits the growth of these MSMEs. On the other hand, high interest rates from unorganised sources makes it difficult for them to earn profits.
  
  The Modi government is looking at various ways to correct this problem. Mudra loans, online loans facilities are being made available to MSMEs.
  
  Slowly but surely, lenders are sensing the huge opportunity that lies ahead for this sector.
  
  Banks and other financial firms with prudent lending practices and strong distribution networks will benefit from this megatrend.

Tanushree is counting on 7 top stocks from the Indian stock market that will benefit from this megatrend.

As per her, now is the right time to buy these stocks to profit from the Rebirth of India. You can read about them here.

Moving on to news from the FMCG sector, shares of Hindustan Unilever (HUL) rose 4% today after institutional investors bought stake in the company via open market on Thursday.

The NSE bulk deal data showed that foreign portfolio investor Societe Generale, a French multinational investment bank and financial services company, bought 129 million shares of HUL at an average price of Rs 1,902.

UK-based Glaxo-SmithKline (GSK) offloaded its stake in HUL via block deals, yesterday.

According to the term sheet, over 133 million shares were offered in the range of Rs 1,850-1,950 to investors through a special block window.

The deal is valued roughly between Rs 246 billion to Rs 259 billion.

Note that last week, HUL reported a 7% decline in volumes in Q4FY20. The company's profit before tax fell 10.6% to Rs 19.9 billion, while net profit declined 1.2% year-on-year (YoY) to Rs 15.2 billion.

HUL share price is presently trading up by 3%.

To know more about the company, you can HUL's latest result analysis on our website.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

Stock specific action was seen in index heavyweight Reliance Industries gained 3.43% to Rs 1,558 on BSE after PE firm Vista Equity Partners said it would invest Rs 11,367 crore into Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

Shares of Asian Paints closed 1.01 per cent lower at 1,577against previous close of Rs 1593 on BSE

Reliance Industries Limited (RIL) and US global conglomerate GE on Thursday announced a global partnership in the Industrial Internet of Things (IIoT) space to boost digital transformation.

Saudi Arabia's state oil company Aramco is making a high stakes investment in India as the world’s largest crude oil exporter seeks to deepen its ties with the fastest growing energy consumer. Tom O’Sullivan discusses the proposed investment, announced by Reliance Industries chairman Mukesh Ambani, with Benjamin Parkin and Anjli Raval.

Contributors: Tom O’Sullivan, deputy analysis editor, Benjamin Parkin, Mumbai correspondent, and Anjli Raval, senior energy correspondent. Producer: Fiona Symon

See acast.com/privacy for privacy and opt-out information.

A rights issue is an invitation to existing shareholders to buy more shares at a discount to the market price. RIL's investors can subscribe to the right to own one new share for every 15 held in the company at ₹1,257 per share, 14% below Thursday’s (April 30) closing price. Even if you expect that RIL shares will be worth a lot more in the future, if the share falls to ₹1,257, or below, investors can buy the shares from the market instead of subscribing to the rights.The rights issue announced by one of India's most valued company, Reliance Industries (RIL), will have to conclude by the end of June, as declared by the company. The company owned by Asia's richest man, Mukesh Ambani, plans to mop up ₹53,125 crore from shareholders. RIL's investors can subscribe to the right to own one new share

After rallying 645.13 points during the day, the 30-share index surrendered most gains to settle 199.32 points or 0.63 per cent higher at 31,642.70.

The oil to telecom conglomerate while announcing its quarterly results ending March Fy20 approved a rights issue which is the first in 29 years to mop up Rs. 53,125 crore. So, here is a low down on whether or not

The oil to telecom conglomerate while announcing its quarterly results ending March Fy20 approved a rights issue which is the first in 29 years to mop up Rs. 53,125 crore. So, here is a low down on whether or not

Reliance Industries

NSE Nifty rose 52.45 points.

The idea is to create an app that is not just a communication platform but one where users would also be able to buy groceries through Reliance Retail stores, or shop at ajio.com, or make payments using JioMoney.

The company controlled by Mukesh Ambani, is in discussions with banks for a potential sale of its 4.9 per cent stake in Asian Paints through a series of block trades