Top headlines: RIL m-cap now 10% of BSE-listed firms, Gold reaches new high

Here are the top headlines of the day

RIL now accounts for 10% of BSE-listed firms' combined m-cap

RIL has dominated the Indian equity markets with its share in the total market capitalisation of all BSE listed companies nearly doubling in the past two years. Mukesh Ambani-controlled company saw its combined market-cap hitting the Rs 14.38 trillion mark at the bourses on Monday. With this, RIL accounted for 9.8 per cent of the total market-cap of BSE listed companies of Rs 147.23 trillion. Thus far in the calendar year 2020 (CY20), RIL’s market-cap has surged 49.8 per cent, or Rs 4.77 trillion, from Rs 9.59 trillion on December 31, 2019. Read here

Huawei to ByteDance: Big tech firms in a spot as China riles US, India

Huawei Technologies and ByteDance which best exemplify China's ambitions to challenge U.S. tech dominance are now stymied by strains in relations between China and countries including the United States, India, Australia and Britain. Chinese companies with world-beating technology -- including drone-maker DJI, artificial intelligence firms Megvii, SenseTime and iFlytek, surveillance camera vendor Hikvision and e-commerce conglomerate Alibaba Group -- are also among those losing access to markets. Read here

Gold prices at new all-time high, entering years-long bull run: Analysts

Gold hit an all-time high on Monday as ties between China and the United States rattled investors, boosting the allure of safe haven assets. The metal was trading at $1,933 per ounce in the international market and in India it was above Rs 50,000 per 10 gram. A gold market cycle usually last 8-10 years, indicating that a bull run is underway. The last rally started in 2001 and ended in 2011, when prices went up sent times from the 2001 level. After peaking, prices fell 46 per cent and consolidated for years.

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Steel prices may rebound on China demand, pick up in domestic need

Steel companies are likely to increase prices in August, responding to domestic demand and international prices and international trend. "Prices were increased by Rs 500 a tonne earlier this month and three days back, there was another increase of Rs 750 a tonne. Next month, prices could increase by Rs 750-1,000 a tonne," said V R Sharma, managing director of Jindal Steel & Power Ltd (JSPL), as he explained how the market had bottomed out.  Read here

We are betting big on data boom in India: Yotta Solutions CEO Sunil Gupta 

The Hiranandani Group last year announced its foray into the data centre space with its subsidiary Yotta Infrastructure Solutions. Yotta is a managed data centre service provider that designs, builds, and operates large-scale data parks in India. it recently unveiled a data centre in Navi Mumbai. The group will be investing around Rs 15,000 crore over the years in Navi Mumbai, Delhi, and Chennai. Read here

More than enough doses of Covid-19 vaccine reserved for Parsis: Poonawalla

"More than enough" doses of the Covid-19 vaccine developed by Oxford University and AstraZeneca will be reserved for the Parsi community, Adar Poonawalla, CEO of the vaccine's local manufacturer Serum Institute of India, has said. Replying to producer Ronnie Screwvala on Twitter, Poonawalla on Sunday said, "Yes @RonnieScrewvala, we will keep more than enough for the community. Our production capacity of just one day will be enough to cover every Parsi on the planet...given the size of our community." Read here