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reliance and disney merge creating major media powerhouse in india

Reliance Industries, Viacom18 Media, and Walt Disney Company have finalized a merger of Viacom18’s media and JioCinema businesses into Star India, forming a joint venture valued at Rs 70,352 crore. The new entity will be managed by three CEOs: Kevin Vaz for entertainment, Kiran Mani for digital, and Sanjog Gupta for sports. This merger establishes a significant media powerhouse in India, operating over 100 television channels and serving more than 50 million subscribers through JioCinema and Hotstar.

reliance and disney establish joint venture for entertainment brands in india

Reliance Industries Limited, Viacom18, and Disney have finalized a joint venture in India, merging Viacom18's media and JioCinema businesses into Star India Private Limited. The transaction, valued at Rs 70,352 crore, follows regulatory approvals and sees Reliance holding 16.34%, Viacom18 46.82%, and Disney 36.84%. Nita Ambani will chair the JV, with Uday Shankar as Vice Chairperson, while three CEOs will lead various sectors to drive innovation and growth.

reliance industries loses fifty billion dollars amid earnings concerns and slowdown

Reliance Industries Ltd. has seen its market capitalization shrink by nearly $50 billion since July, as the company grapples with declining earnings amid an economic slowdown. Shares of the conglomerate, led by Mukesh Ambani, have underperformed the NSE Nifty 50 Index this year, marking the widest gap in a decade. Despite these challenges, Indian markets remain among Asia's top performers in 2024.

quarterly earnings reports reveal mixed results across various sectors

The Q2 earnings season for FY25 is underway, with major companies like Apollo Hospitals, Kansai Nerolac Paints, and Trident set to release their results. While many firms have reported, the overall corporate earnings scorecard has been weak, with only 62% meeting or exceeding profit expectations, particularly in the consumption sector. Notably, GAIL's earnings missed expectations due to lower gas trading margins, while Power Grid's profit remained flat year-on-year.

diwali stock picks 2024 ambuja cement icici bank and ril favored

PL Capital has identified Ambuja Cement, ICICI Bank, and Reliance Industries as top stock picks for the upcoming Diwali season, aligning with the investment strategies for Samvat 2081. Analysts at Prabhudas Lilladher have also recommended ICICI Bank, Reliance Industries, and Bharat Electronics among their preferred investments.

Reliance New Energy completes acquisition of Faradion to enhance battery technology

Reliance New Energy, a subsidiary of Reliance Industries, has completed the acquisition of the remaining stake in Faradion Limited, making it a wholly-owned subsidiary. The acquisition, initially announced in December 2021 at an Enterprise Value of GBP 100 million, aims to leverage Faradion's sodium ion battery technology for a proposed energy storage giga-factory at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar. No regulatory approvals were required for this transaction.

Q2 2024 earnings season gains momentum with major companies reporting results

Major companies including Coal India, JSW Steel, DLF, and Interglobe Aviation are set to release their Q2 earnings reports today, joining a wave of firms that have already reported results. Notable performances include Reliance Industries with a profit decline of 4.8%, while HCL Technologies and TCS reported profit increases of 10.5% and 5.0%, respectively. ICRA's profit rose by 15.6% to Rs 36.72 crore, and Oracle Financial Services Software saw a significant profit increase of 38.4% to Rs 577.70 crore.

decline in shareholder numbers for yes bank and tata power

Yes Bank, Tata Power, and Reliance Power experienced significant declines in shareholder numbers, with Tata Power losing over 64,000, Yes Bank 54,000, and Reliance Power more than 47,000. In contrast, Tata Steel gained nearly 800,000 new investors, followed by Tata Motors with 700,000 and Vodafone Idea with 600,000. Other notable increases included IRFC (390,000), NHPC (260,000), and Jio Financial Services (55,000).

hyundai ipo faces challenges as shares drop on debut in india

Hyundai's Indian subsidiary debuted on the stock market with a 7% drop, now 5% below its IPO price, despite raising $3.3 billion by offloading a 17.5% stake. Analysts cite concerns over the capital's use, higher royalty fees, and minimal upside pricing, while some see long-term growth potential in India's evolving automotive market.
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