RIL announces mother of all equity fundraising; to raise Rs53,215 crore through rights issue
MUMBAI : Mukesh Ambani’s Reliance Industries Ltd (RIL) on Thursday said that it will raise Rs53,215 crore through a rights issue, the biggest equity fundraise ever seen in the Indian capital markets. Under the proposed rights issue, every shareholder will get a rights entity entitlement to subscribe to one equity share for every 15 shares of […]
What moves gold prices? Lessons from the spectacular gains in history
Gold loves a crisis, the old adage goes. And with prices up 13% this year to their highest since 2012 and many predicting further gains as investors search for safe places to put their money, it looks true for the coronavirus crisis so far. But, as individuals and countries alike see a drop in income, […]
Mukesh Ambani’s Reliance Industries plans its first rights issue in 30 yrs to pare debt
Reliance Industries Ltd., India’s largest company by market value, plans to sell shares to existing investors in a rights issue for the first time in about 30 years as the energy-to-technology conglomerate steps up efforts to pare debt. The board of the Mumbai-based company will consider the proposal on April 30, when it announces its […]
Mint Covid Tracker: Despite slowing trajectory, India’s case count could reach 50,000 in eight days
The number of reported coronavirus cases in India rose 15 percent over the past two days to 26,917, data from the ministry of health and family welfare (MoHFW) published last evening showed. This is the same rate of increase as in the previous 48 hours, when the reported case count rose 15 percent to 20,471. […]
India crashes out of world’s top 10 stock market league, mcap below $2 trln
MUMBAI: India has dropped out of the list of the world’s top 10 stock markets as the covid-19 pandemic led to a rout in global equities, ravaging valuations significantly this year. India’s benchmark indices entered a bear market, and the rupee hit a record low against the dollar, indicating fragile economic activity. Bloomberg data showed […]
Market LIVE: Sensex, Nifty marginally up; rupee opens higher
Welcome to Mint live blog. Track this space for latest news and updates on stock markets. 23 Apr 2020, 10:11:02 AM IST Rupee opens higher The Indian rupee opened at 76.30 against the US dollar, compared with Wednesday’s close of 76.67 per dollar. 23 Apr 2020, 09:59:44 AM IST Glenmark Pharma jumps nearly 7% Glenmark […]
Mukesh Ambani is back as Asia’s richest man after Jio’s deal with Facebook
Hong Kong: Mukesh Ambani is again Asia’s richest person after a deal with Mark Zuckerberg’s Facebook Inc. sent his conglomerate’s stock surging. Ambani’s fortune rose about $4.7 billion to $49.2 billion on Wednesday, after Reliance Industries Ltd. gained 10%. The jump put Ambani about $3.2 billion ahead of China’s Jack Ma, according to the Bloomberg Billionaires […]
Amazon is hiring 75,000 more employees to keep up with coronavirus-induced consumer demand
New Delhi: While nearly 10 million (or 1 crore) Americans have filed for unemployment benefits and almost 630,000 retail outlets in the US are forced to close due to the Covid-19 pandemic and resultant lockdowns, global giant Amazon seems to show no signs of slowing down. The US firm has announced that it would be adding 75,000 more employees to its force […]
Thousands of NY businesses struggle to survive amid COVID-19
The United States is on the brink of overtaking Italy for the highest number of coronavirus-related deaths on Earth. Confirmed cases in the world’s largest economy have been soaring in the month since a pandemic was declared. In New York state, the spread of the virus is showing signs of slowing with hospital and intensive care admissions declining. […]
The Personal and Social Risks That India’s Food Delivery Workers Are Taking During COVID-19
Bengaluru/Mumbai: In the days that followed India’s national lockdown, delivery workers for app-based food delivery services like Swiggy and Zomato, which were identified as an essential service in many states, have been instrumental in ensuring social distancing, work from home and a sense of normalcy during the lockdown. But how has the lockdown impacted the workers and […]