Revenue for Jio Platforms increased by 11.7 per cent Y-o-Y, led by robust subscriber growth of 42.4 million across mobility and homes and benefit of mix improvement in ARPU.
The market construct is favourable for consolidation around current levels and gradual up move, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
RIL's green hydrogen foray is part of its Net Carbon Zero target by 2035. Falling renewable cost and scale economics will lower green hydrogen cost. Given the capex intensity, RIL's strong balance sheet and backward integration puts it in the driver's seat in the US$ 74 billion opportunity, foreign brokerage, Jefferies said in a report.
Reliance Petroleum Retail Limited (under name change to 'Reliance Polyester Limited'), a wholly owned subsidiary of Reliance Industries Limited (RIL), on Saturday executed definitive documents to acquire polyester business of Shubhalakshmi Polyesters Limited for cash consideration of Rs 1,522 crore.
Margin profiles for FMCG businesses are superior to that of grocery retailers with gross margins of 40-60 per cent and EBITDA margin of 15-25 per cent versus 15 per cent and 9 per cent, respectively, for DMart.
"As such, the sole nefarious purpose of linking the name of Reliance to these laws is to harm our businesses and damage our reputation," it said.
The losers were led by Nestle India, ITC, HUL and Kotak Bank were among the gainers.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,909.60 crore on Tuesday, according to provisional exchange data.
Reliance Communications' telecom infrastructure arm Reliance Infratel has around 43,000 towers and 1,72,000 route kilometres of fiber.
The Google-Jio deal will seek to leverage Jio and Google's existing digital services to capture the emerging digitisation market beyond the current 500 million internet users in India.
