RIL AGM: Reliance Industry chairman Mukesh Ambani on Thursday welcomed Disney after the company received CCI's approval for merger. During the 47th AGM, Ambani lauded the deal and called it "beginning of a new era."
At the 47th Reliance Industries AGM, chairman Mukesh Ambani revealed a Diwali offer, offering 100GB of free cloud storage for Jio users via the Jio AI-Cloud service. This initiative aims to democratize AI, making it accessible to all devices while ensuring data security within India's borders. The service will cater to users across socio-economic backgrounds.
Vidyuta Materials has ventured into cathode active materials production to meet the rising demand for EVs and contribute towards India's goal of import substitution and self-reliance, says firm's Co-Founder Ankit Sharma.
Ashvin Parekh highlights the critical need for enhanced regulations and transparency in India's SME IPO market. He emphasizes the roles of regulators, merchant bankers, and social media in mitigating misuse and protecting investors to ensure the market retains its credibility and does not suffer due to fraudulent activities and misinformation.
Reliance Industries chairman Mukesh Ambani announced that while the company's direct employment has decreased, total employment has increased due to new engagement models. Reliance added over 1.7 lakh jobs last year and now has a headcount of nearly 6.5 lakh, continuing to be one of India's largest employers.
A senior RBI official emphasised the need for responsible lending to build consumer trust and protection in digital lending using AI/ML models. With AI's growing role in credit assessment, banks need to focus on governance and financial literacy. Digital lending is expected to surpass $1 trillion by 2030.
Jio Brain AI: At Reliance Industries' 47th Annual General Meeting, Chairman Mukesh Ambani announced that Jio is creating a comprehensive AI toolset called Jio Brain, which will cover the entire AI lifecycle. He also revealed plans to establish large-scale, AI-ready data centers in Jamnagar, Gujarat.
On National Sports Day, the Congress party shared a video of Rahul Gandhi practicing Jiu-Jitsu during the Bharat Jodo Nyay Yatra. The practice became a community activity involving yatris and local youths. Gandhi aimed to introduce the 'Gentle Art' to young participants, advocating for non-violence and compassion in society. A new initiative, Bharat Dojo Yatra, is upcoming.
A report from the Energy Policy Institute at the University of Chicago indicates that cleaner air could increase the life expectancy of Delhi residents by up to 7.8 years. Meeting WHO air quality guidelines could yield these benefits. The report also highlights improvements in Delhi's air quality and underscores the need for sustained policy efforts.
The Noida International Airport operator YIAPL plans to apply for an aerodrome license in December following successful validation flights. Slated for commercial operations by April 2025, the airport's development includes calibration flights for the ILS and validation procedures set for later this year. YIAPL is a subsidiary of Zurich Airport International AG.
ITR refund status:If you have paid an excess of tax for a specific financial year, you should anticipate receiving a refund on your income tax after submitting your income tax return (ITR). Nonetheless, the refund will only be granted once the tax department has processed your ITR and issued a notice confirming it.
Wondering about the link between zodiac signs and wealth? The Hurun Rich List shows how much each sun sign earned over the past year. Explore India's cosmic wealth trends.
"Our future is far brighter than our past. For example, Reliance took over two decades to be amongst the Top 500 companies globally. The following two decades saw us joining the league of the world’s Top-50 most valuable companies. With our strategic adoption of Deep-Tech and Advance Manufacturing, I can clearly see Reliance earning a place in the Top-30 League in the near future," Ambani said.
At the 47th Annual General Meeting, Reliance Industries Chairman Mukesh Ambani expressed aspirations for his company to rank among the top 30 globally. The firm, which has already joined the top 50 most valued firms worldwide, aims to advance despite a slight decline in net profit for the first quarter of 2024.
The Assam Assembly has passed a bill to repeal a 1935 law that registered Muslim marriages and divorces. Chief Minister Himanta Biswa Sarma stated the aim is to shift registration under the government system, ensuring compliance with a Supreme Court order. This move seeks to end the social issue of child marriages in the state.
The Bombay High Court questioned the Maharashtra government's decision to reduce and waive fees for police deployment at IPL matches, contrasting it with increased water tax for slum dwellers. The court demanded a justification for the fee reduction and arrears waiver, emphasizing the wealth of the BCCI and the unpaid police protection dues.
And with rate cut on the anvil in US, some of the levered sector like telecom, manufacturing, etc, can also start opening up come FY26. So, with these kind of anticipations, I think it is logical that investors will take position and that is essentially driving the multiples up in the hope that earning upgrades will come through in due course of time.
While electric vehicles may have seen significant growth over the years, more focus is required on the R&D front to make these vehicles more attractive to all citizens, say experts.
Suraksha Group has taken control of Jaypee Infratech Ltd, allocating 2,552 acres of land for lenders. The group is focusing on completing 20,000 pending flats in Delhi-NCR. They have invested Rs 125 crore as equity and arranged a Rs 3,000 crore loan. Construction on several stalled towers has resumed.
India's quick commerce sector is seeing a surge in competition with major players like Amazon, Flipkart, and Ola planning to enter. Established names such as Blinkit, Zepto, and Swiggy's Instamart continue to expand. New investments and leadership changes mark this dynamic industry's rapid growth.