Reliance Industries said that reports claiming it intended to bid for the U.K telecom operator, BT were "speculative and baseless".
Reliance Industries saw its market worth tank by Rs 38,440.66 crore to Rs 15,30,109.51 crore. Infosys’s valuation took a hit of Rs 37,950.03 crore to reach Rs 7,10,925.34 crore and that of HDFC plummeted by Rs 33,067.68 crore to Rs 4,96,168.98 crore.
Reliance Industries soared as much as 6.36 per cent during trade today on the Sensex. Nifty closed 121.20 points or 0.70 per cent higher at 17,536.25 whereas Sensex closed the day 454.10 points or 0.78 per cent higher at 58,795.09.
RIL said this is a further step in having a portfolio that is fully recyclable, sustainable and net carbon zero, adding that it could potentially be the first mover to establish a hydrogen ecosystem.
"The Board has accordingly approved a Scheme to transfer the 'Gasification Undertaking' as a going concern on slump sale basis for a lump sum consideration equal to the carrying value as on the 'Appointed Date'."
NSE Nifty slide 88 points and closed at 17,415 levels whereas BSE Sensex shed 323 points and closed at 58,340 levels. According to stock market experts, this pattern signals a weak upside bounce in the market.
After missing two self-imposed deadlines, Mukesh Ambani's Reliance Industries has shelved a proposed deal to sell a 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco.
The 30-share index was trading 435.74 points or 0.73 per cent lower at 59,200.27. Similarly, the Nifty fell 129.85 points or 0.73 per cent to 17,634.95.
During the holiday-truncated week, the 30-share BSE benchmark Sensex tumbled 1,050.68 points or 1.73 per cent. Markets were closed on Friday on account of 'Guru Nanak Jayanti'.
Reliance Industries said the decision was in light of their ambition to foray into renewable energy and the evolving nature of company's business portfolio.
Titan was the biggest gainer in the Sensex pack on Monday, spiking over 4 per cent. This was followed by UltraTech Cement, Bajaj Finserv, Tech Mahindra, Kotak Bank and HDFC.
With RIL chairman Mukesh Ambani facing political and other attacks in India, the news of the family moving abroad seemed credible.
Musk owns a 17 per cent stake in Tesla, as per a regulatory filing to the United States Securities and Exchange Commission in August 2021. Bloomberg analysis states he holds 82 million exercisable options to buy Tesla stock which are included at their net value.
SGX Nifty indicates a choppy start for the Indian stock markets on Monday. Singapore Nifty (SGX Nifty) is the Indian Nifty that is traded in the Singapore Stock Exchange.
The shares will be acquired from the public shareholders by Reliance New Energy Solar Ltd together with Reliance Industries Ltd (PAC 1) and Reliance Ventures Ltd (PAC 2).
Shares of Reliance Industries on Monday gained nearly 3 per cent after the company reported a 43 per cent jump in its September quarter net profit.
Reliance Industries on Friday, after market hours, reported a consolidated net profit of Rs 13,680 crore for the September quarter (Q2), up 43 per cent year-on-year.
Last week, the 30-share BSE benchmark Sensex declined by 484.33 points or 0.79 per cent. Market benchmarks -- Sensex and Nifty -- declined for the fourth consecutive session on Friday.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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