Reliance Industries Limited

So far, RIL has raised a record Rs 1.18 trillion in less than three months by selling 25.24 per cent stake in Jio Platforms.

RIL hit a fresh all-time high of Rs 1,948.75, up 2 per cent in intra-day trade, surpassing its previous high of Rs 1,947 touched on July 13, 2020.

An agreement between Ambani's Reliance and Future, which already has a partnership with Amazon.com Inc., could be announced as early as next month

Market players say strong demand for issue underscores investors faith in firm's long-term prospects

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At close of trade, the company's market capitalisation stood at Rs 1,58,902.37 crore on the BSE.

The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3

The abridged letter of offer, application form of rights issue and rights entitlement letter will be sent to eligible equity shareholders of the company

In a corporate presentation titled 'New Reliance for a New India', released on Friday, RIL termed itself as the best proxy for India's consumption-driven and tech-propelled growth story.

Several slash pays by up to 40% for May

Partly-paid shares issued under rights will be traded separately

J P Morgan said that the core energy business could be staring at multi-year slump

The company controlled by Mukesh Ambani, is in discussions with banks for a potential sale of its 4.9 per cent stake in Asian Paints through a series of block trades

"The current crisis is demonstrating the adaptability and durability of Amazon's business as never before, but it's also the hardest time we have ever faced," said Jeff Bezos, Amazon founder and CEO.

Called bharatemarket.in, the announcement comes at a time when e-tailers Amazon and Flipkart and offline player Reliance Retail are trying to woo small traders

The Mukesh Ambani-controlled conglomerate, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and m-cap.

His company will cut 10 per cent from hydrocarbons segment employees who earn above Rs 15 lakh per annum.

Its revenues for FY20 grew by 24.8 per cent on a yearly basis to Rs 62,936 crore. Ebitda for FY20 grew by 56 per cent y-o-y to Rs 9,654 crore.

These pay cuts would apply only to the employees in Reliance's hydrocarbon division and earning more than Rs 15 lakh a year; those earning less would not be impacted