Reliance Industries, Tata Group
Mukesh Ambani’s Reliance Industries and Tata Group have been featured in the prestigious TIME’s list of 100 World’s Most Influential Companies of 2024. TIME termed RIL ‘India’s Juggernaut’.
Notably, Reliance was included in the ‘Titans’ category, while Tata was listed in ‘Titan’s’ category while Serum under ‘Pioneers’. “Reliance Industries was founded as a textile and polyester company 58 years ago by Dhirubhai Ambani. Today the sprawling conglomerate — which has aligned its growth with Indian Prime Minister Narendra Modi’s vision for a ‘self-reliant’ India — is the country’s most valuable company, with a market capitalisation of more than USD 200 billion,” TIME said.
IDFC First Bank
IDFC First Bank confirmed in its regulatory filing that its board has given the green to raise Rs 3,200 crore via preferential issue of shares to fund business growth. The board of the bank held a meeting on May 30, 2024 considered approved the issue.
After the allotment is completed, the issued and paid-up equity share capital of the bank will increase from 7,07,72,76,843 equity shares of Rs 10 each fully paid-up to 7,47,41,51,443 fully paid-up equity shares of Rs 10 each.
Jio Financial Services
Jio Financial Services has launched the pilot version of ‘JioFinance’ app to offer UPI, digital banking and other services. The launch is aimed at competing against Google and Amazon. The app launched by RIL’s financial services app enables users to integrate digital banking, UPI transactions, bill settlements, insurance advisory, and offers a consolidated view of accounts and savings, JFSL said in its statement.
Vedanta
Vedanta claimed that ICRA has given A1+ rating to the company’s Rs 2,500-crore commercial paper. ICRA assigned the positive rating keeping in view the mining major’s diversified product portfolio and a healthy market share.
“ICRA Ltd…has assigned ICRA A1+ Rating on commercial paper,” Vedanta said in a filing to the BSE.
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Stock to watch today: The shares of Jio Financial Services, Reliance Industries, Tata Group, IDFC First Bank and Vedanta are expected to remain in news on Friday. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
