Indices extend their winning run for sixth straight session
The Sensex rose 333.35 points, or 0.50%, to close at 66,598.91. The Nifty gained 92.90 points, or 0.47%, to end at 19,819.95. Both indices, which have gained 1.3% last week and 2.2% in the past six trading sessions, are less than a per cent away from their all-time highs hit on July 20.
Reliance Retail’s cumulative debt up 73% in FY23
As much as ₹19,243 crore of the loans were non-current, long-term, borrowings, as per disclosures in RRL’s latest annual report. As of March 2022, it had a mere ₹1.74 crore in bank loans on its books. The retail business also raised ₹13,304 crore in long-term debt from holding company Reliance Retail Ventures Ltd (RRVL), taking […]
I-CRR to be withdrawn; fund release in stages
The Reserve Bank of India (RBI) has announced that it will discontinue the incremental cash reserve ratio (I-CRR) in a phased manner in order to maintain system liquidity and ensure orderly money market functioning. The RBI will release 25% of the I-CRR on September 9 and September 23, with the entire I-CRR removed by October […]
Nvidia to partner Reliance, Tata for big AI play in India
Reliance Industries, owned by Mukesh Ambani, has partnered with Nvidia to develop an indigenous large language model tailored for generative AI applications in India. Nvidia will assist Reliance in building AI infrastructure by providing access to its superchip and cloud services. Reliance aims to leverage Nvidia’s AI infrastructure to develop AI applications and services