Reliance Industries along with HDFC Bank remain the top mutual funds buys for 2nd straight month
Globally fuel producers are avoiding the Red Sea and go around Africa to avoid Iran-aligned Houthi attacks despite the Suez canal being the shortest route between Asia and Europe
Charts suggest that among the key Nifty heavyweights, Infosys, HDFC Bank and ICICI Bank look poised for gains, while Reliance is likely to consolidate in the near-term, writes Rex Cano
In the past one year, shares of Tata Motors have been in top gear and have outperformed all stocks that comprise the Nifty Auto index with a rise of nearly 131 per cent during this period, shows data
Last month, Reliance agreed to acquire Disney's India business, creating an $8.5 billion media giant ranging from film and television production to news and sports content.
Zomato, Ambuja Cements, Cipla, Tata Motors DVR, United Spirits were among notable stocks from the S&P BSE 200 index that, too, hit their respective record highs
The impairment charges stem from the merger agreement between Walt Disney and RIL aimed at creating an $8.5-billion media entity by combining Star India and Viacom18
Reliance's JioCinema is largely free and doesn't disclose user numbers, having started a premium paid offering just last year
The development will be negative for other players such as Zee, analysts said, who will now have to compete with a much larger entity
Stock market highlights on Thursday, February 29: Among sectors, the Nifty Media index closed with losses of 0.76 per cent. On the upside, the Nifty PSU Bank index eked out gains of 1.8 per cent
As part of the transaction, the media undertaking of Viacom18, a RIL group company, will be merged into Star India Private, a Disney-owned firm
A day after Reliance, Viacom18 and Disney announced a mega joint venture, RIL traded firm, while shares of TV18 group hit the 5% lower circuits. Here's a quick chart check.
Her decision to take the role is a strong signal "that this (media) business is close to the family's heart," said a person familiar with Disney-Reliance deal talks
Stocks to Watch on February 29, 2024: Under the NSE index rejig, Shriram Finance will replace UPL in the Nifty50 index with effect from March 28, 2024
"The whole narrative will change from TV is dying to TV-plus-digital is the future," says an industry observer
Reliance, led by Asia's richest man Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake
Reliance and Disney are expected to make a formal announcement on Wednesday after signing a binding pact. Shankar is set to take a stake of around 9% in the new merged entity
The plans could change ahead of an official announcement. Reliance did not respond to a request for comment, while Disney declined to comment
Disney owns a minority stake in broadcast service provider, Tata Play Ltd., which Reliance may consider acquiring, according to local news reports
Market players expect Jio Financial, which also operates a payments bank and voice box, and other fintech players to benefit as Paytm will struggle to retain its merchants and customers