Business

Since February, the Reserve Bank of India has cut the key policy rate by 110 basis points, which has pushed bond yields down significantly.

Macquarie upgraded the RIL stock to ‘outperform’ while raising its target price to Rs 1,370 from Rs 1,220.

Reliance has also seen a three-fold rise in per-store productivity in the last five years. In 2018, Reliance Retail sold a TV every four seconds and a phone every two seconds, Mukesh Ambani said.

Jio Giga Fiber will be rolled out from September 5, offering free voice calls for life from landline phones, high speed broadband of minimum speed of 100 mbps, free high definition TV and dish at minimum subscription of Rs 700.

Shares of Hindalco Industries were trading at Rs 175.15, down 3.3%, on BSE after hitting an intra-day low of Rs 173.30. The stock has corrected nearly 20% in the last one year.

Around 5.88 crore small farmers have so far received the first tranche of Rs 2,000 each under the Pradhan Mantri Kisan Samman Nidhi (PM-Kisan).

The 30-share index was trading 4.78 points or 0.01 per cent down at 36,685.72 at 0930 hours; and the broader Nifty slipped 4.30 points or 0.04 per cent to 10,851.20 in morning trade.

The valuation of SBI tumbled Rs 30,388.3 crore to Rs 2,75,279.64 crore. RIL's m-cap plummeted Rs 18,952.5 crore to Rs 7,50,674.86 crore and that of HDFC Bank plunged Rs 16,774.8 crore to Rs 6,05,627.15 crore.

Mortgage lender HDFC climbed 1.75 per cent after the company reported a 46 per cent rise in standalone net profit to Rs 3,203.10 crore for the June quarter.

Central GST collections stood at Rs 17,912 crore, State GST Rs 25,008 crore, and Integrated GST Rs 50,612 crore (including Rs 24,246 crore collected on imports) during July this year, a statement said.

The 30-share index was trading 205.69 points or 0.55 per cent lower at 37,275.43; and the broader Nifty fell 16.15 points or 0.44 per cent to 11,069.25.

IOC, the nation's biggest oil firm, recorded an inventory gain of Rs 2,362 crore as opposed to Rs 7,065 crore gain in the April-June 2018 period.

MindTree Ltd shares fell 1.6% on news that former Cognizant executive Debashis Chatterjee will take over as the company’s new chief executive officer (CEO) on 1 August.

A CNBC-TV18 Poll had predicted a profit of Rs 1,897.2 crore for the quarter under review. Most of the brokerages were also expect more than two-fold increase in its June quarter profit.

Microdot technology involves spraying the body and parts of the vehicle or any other machine with microscopic dots, which give a unique identification and it will also help check the theft of vehicles and also the use of fake spare parts.

ICICI Bank’s earnings were driven a healthy growth in net interest income (NII), which rose 26.8% year-on-year to Rs 7,737.43 crore for the June quarter on a strong loan growth of 15%.