logo
Reliance share price hits over 8-month high today; more upside ahead?

Reliance share price hits over 8-month high today; more upside ahead?

RIL share price: RIL stock was up 2 per cent on the BSE today. Shares of RIL have bounced back 32 per cent from their April month low of ₹1,155.55, touched on the BSE
Mumbai
Listen to This Article
Reliance Industries share price today
Reliance Industries (RIL) shares hit an over eight-month high of ₹1,468, gaining 2 per cent on the BSE in Wednesday's intraday trade.
The stock price of RIL, the conglomerate led by billionaire Mukesh Ambani, was quoting at its highest level since October 1, 2024. It had hit a 52-week high of ₹1,608.95 on July 8, 2024.
Shares of RIL have bounced back 32 per cent from their April month low of ₹1,155.55, touched on the BSE. By comparison, the BSE Sensex has rallied 15.4 per cent from its 52-week low of 71,425.01, touched on April

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Integrum Energy and Connplex Cinemas receive regulatory nod for IPOs
Integrum Energy and Connplex Cinemas receive regulatory nod for IPOs

Time of India

timean hour ago

  • Time of India

Integrum Energy and Connplex Cinemas receive regulatory nod for IPOs

Integrum Energy Infrastructure and Connplex Cinemas received regulatory approvals to move ahead with their respective initial public offerings (IPOs). Integrum Energy Infrastructure IPO gets BSE approval Integrum Energy Infrastructure has received clearance from the BSE. The company plans to raise funds through a fresh issue of up to 49.50 lakh equity shares, along with an offer for sale of up to 5.40 lakh shares, bringing the total issue size to up to 54.90 lakh equity shares, each with a face value of Rs 10. The company will use the IPO proceeds to meet working capital requirements, invest in its subsidiary Integrum Green Assets Private Limited for setting up a solar power plant for commercial and industrial (C&I) customers, fund acquisitions, and for general corporate purposes. Beeline Capital Advisors Private Limited is the Book Running Lead Manager and Integrated Registry Management Services Private Limited is the Registrar to the issue. Founded in 2021 and headquartered in Bengaluru, Integrum Energy provides customized clean energy solutions in the solar, wind, and hybrid segments. The company is currently developing a solar project in Karnataka. For the year ending March 31, 2024, it reported revenue of Rs 233.24 crore, EBITDA of Rs 20.76 crore, and profit after tax (PAT) of Rs 15.15 crore. Live Events Connplex Cinemas approved by NSE Emerge Connplex Cinemas Limited has received in-principle approval from NSE Emerge for its IPO comprising a fresh issue of up to 51 lakh equity shares of Rs 10 each. The proceeds will be used to purchase a corporate office, acquire LED screens and projectors, and meet working capital and general corporate needs. Connplex operates under the brand name 'CONNPLEX' and focuses on bringing luxury cinema experiences to Tier 2, 3, and 4 cities. The company features recliner seating, advanced AV systems, and operates revenue streams through ticketing, food and beverages, advertisements, and private events. Beeline Capital Advisors is the Book Running Lead Manager and MUFG Intime India Private Limited is the Registrar to the issue. For the year ending March 31, 2024, Connplex posted revenue of Rs 60.30 crore, EBITDA of Rs 6.19 crore, and PAT of Rs 4.09 crore. For the half-year ending September 30, 2024, revenue stood at Rs 40.69 crore, EBITDA at Rs 12.83 crore, and PAT at Rs 9.61 crore.

Shein, Reliance to export India-made clothes within a year
Shein, Reliance to export India-made clothes within a year

India Gazette

timean hour ago

  • India Gazette

Shein, Reliance to export India-made clothes within a year

MUMBAI/LONDON: Fast-fashion giant Shein and India's Reliance Retail are preparing to transform India into a significant global supply base for low-cost apparel, with plans to start selling India-made Shein clothes abroad within the next six to 12 months, two sources told Reuters. The move comes as Shein, originally founded in China and now based in Singapore, seeks to reduce dependence on Chinese manufacturing amid rising tariffs and trade tensions with the U.S. The company has been in talks with Reliance on this plan since before new tariffs on Chinese imports were imposed, the sources said. As part of this effort, Reliance aims to grow Shein's Indian supplier base from the current 150 to 1,000 within a year. In a statement to Reuters, Shein maintained that its partnership with Reliance is currently limited to licensing its brand for domestic use in India. Reliance did not respond to requests for comment. Shein returned to India earlier this year after its app was banned in 2020 due to border tensions between India and China via a licensing deal with Reliance. The deal led to the launch of which features clothes produced in Indian factories—unlike Shein's main sites, which predominantly source goods from China. Reliance, helmed by Asia's richest man Mukesh Ambani, has already contracted 150 garment manufacturers and is in discussions with 400 more. The goal is to start listing India-made apparel on Shein's U.S. and U.K. websites, with the timing depending on supplier ramp-up, one source said. India's Minister of Commerce and Industry, Piyush Goyal, had earlier stated in parliament that the Shein-Reliance partnership is designed to create an Indian supplier network that caters both to the domestic and global markets. Known for its US$5 dresses and $10 jeans, Shein operates on a high-speed, on-demand manufacturing model. Reliance is looking to replicate that model in India by working with suppliers to produce as few as 100 pieces per design initially and scale up production based on demand. So far, the India app has been downloaded 2.7 million times and is growing rapidly, according to Sensor Tower. While the product range is still modest — 12,000 designs in four months versus 600,000 on Shein's U.S. site — offerings are expected to scale up quickly. Reliance is also evaluating suppliers' ability to reproduce Shein's global bestsellers at competitive prices. In parallel, the company plans to support suppliers in sourcing synthetic fabrics, importing necessary machinery, and building capacity to meet export quality. Reliance executives have recently traveled to China to study Shein's supply chain, data-driven design process, and digital marketing techniques. "The scale and speed are truly incredible," said Manish Aziz, assistant VP of Shein India at Reliance, in a LinkedIn post. This is one of several brand partnerships Reliance Retail manages — others include Brooks Brothers and Marks & Spencer — as it continues to compete with Amazon, Flipkart, and Tata's Zudio in the race for retail dominance.

Happiest Minds Technologies appoints Anand Balakrishnan as CFO
Happiest Minds Technologies appoints Anand Balakrishnan as CFO

Time of India

timean hour ago

  • Time of India

Happiest Minds Technologies appoints Anand Balakrishnan as CFO

Mid-tier IT services company Happiest Minds Technologies has appointed Anand Balakrishnan as its chief financial officer (CFO) effective June 12. Balakrishnan will be reporting to managing director (MD) Venkatraman Narayanan , who will cease to hold the position of CFO, which he held over the past decade, the Bengaluru-based company informed in a stock exchange filing. Prior to this, Balakrishnan served as CEO at Mindteck , a publicly-listed IT services company, steering the company back to profitability during his six-year tenure. Balakrishnan has over 20 years of experience in financial management , accounting, and strategic leadership and has held senior positions at several organisations, including PwC, KPMG, Marsh McLennan (formerly JLT), GE Healthcare, and Mindteck. A chartered accountant, cost accountant and an American certified public accountant, Balakrishnan was appointed as the CFO designate at Happiest Minds Technologies in May. Live Events 'He brings a strong blend of financial acumen and strategic thinking that aligns perfectly with our vision for the future. I look forward to working closely with him as we continue driving innovation, delivering value to our stakeholders, and building a sustainable and growth-focussed organisation,' said Narayanan. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Happiest Minds Technologies has operations in the US, the UK, Canada, Australia, and the Middle East, offering digital transformation services for enterprises and technology providers. On Thursday, the company's shares ended weaker by nearly 1.5% to end the day's trade at Rs 610 apiece on the BSE Sensex, which closed lower by 1%.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store