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Reliance Industries share price has slumped more than 5% since yesterday morning, despite Mukesh Ambani’s ambitious new energy plans that will see the company invest Rs 75,000 crore over the next three years. While analysts see the new energy business as the next potential value creation engine for RIL, investors seem unimpressed. Today the stock is down 2.6%, trading at Rs 2,097 per share as the worst-performing stock on the BSE Sensex. On New Energy Read More

IT services major Wipro on Thursday said its step-down subsidiary, Wipro IT Services, has raised USD 750 million from an overseas bond sale. Last week, Wipro had announced that Wipro IT Services will issue US dollar denominated notes worth USD 750 million on June 23. A proposal for the same had been approved by the Board of Wipro IT Services on June 10. “Wipro IT Services LLC (Issuer)… has raised USD 750 million by the Read More

Markets regulator Sebi has restrained the directors of Sterling Biotech Ltd from accessing the securities market in a matter pertaining to fraudulent issuance of global depositories receipts (GDR) by the company. They have further been restrained from holding any position of director or key managerial personnel in any listed company or any intermediary registered with Sebi during the period of restraint. The directors are Nitin Sandesara, Chetan Sandesara, Rajbhushan Dixit, Vilas Joshi and Priyadarshan B Read More

With the US Federal Reserve clamping down on Wall Street’s rally with a faster-than-anticipated revision in rates, S&P 500, Dow Jones, and NASDAQ closed with losses last week. The NASDAQ, however, suffered the least when compared to its peers, helped by some big-name tech stocks. Apple, Amazon, Netflix, and Microsoft were all in the green on a weekly basis at the closing bell on Friday, while Facebook and Good closed with marginal losses. A recent Read More

Franklin Templeton Mutual Fund (MF) on Thursday said it has returned Rs 17,777 crore to unit holders of six shuttered debt schemes till June 15. This amounts to 71 per cent of assets under management (AUM) as on April 23, 2020, when the fund house shut its six debt mutual fund schemes citing redemption pressures and lack of liquidity in the bond market. Further, cash to the tune of Rs 580 crore was available for Read More