Share of Reliance Industries Limited (RIL) fell over 4% in early trade after the conglomerate reported Q3 revenue which fell below estimates. RIL share plunged 4.7% to Rs 1,953.40 against previous close of Rs 2,049.65 on BSE.
TCS briefly beats Accenture to become most-valued IT company of the world
TCS surpassed Accenture to become world s most-valuable information technology firm for first time on October 9, 2020. In India, TCS share is currently trading 0.42 per cent or Rs 13.9 up at Rs 3,317 on NSE, as compared to its previous session close of Rs 3,303.1
BusinessToday.In | January 25, 2021 | Updated 18:26 IST
Dramatic rise in TCS m-cap came after it crossed the $100 billion mark last year in April
Indian tech giant Tata Consultancy Services (TCS) has surpassed Accenture again to become the world s most valued IT services company after its market capitalisation surged to $169.9 billion on Monday.
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Indian conglomerate Reliance Industries Ltd (RIL) has said that it has developed home-grown 5G Radio integrated with its 5G core network.
Jio Platforms Ltd, the digital arm of RIL reportedly plans to demonstrate its 5G capabilities in the coming months, albeit a commercial launch is expected only after the spectrum allocation, which the government has not yet definitively scheduled.
In a predictably upbeat statement within Reliance Industries Limited’s consolidated results for the quarter ended 31 December 2020, the company said that indigenously developed 5G radio integrated with Jio’s 5G core network and 5G smartphones had achieved over-the-air throughputs in excess of 1 Gbps. In-house Massive MIMO and indoor 5G small cells were said to be in advanced stages of development.
Reliance Industries shares tanked as much nearly 5.7 per cent and hit an intra-day low of Rs 1,933 on the BSE on Monday as investors booked profits after the company announced its results for the third quarter ended December 2020 (Q3FY21). The numbers were unveiled post market hours on Friday. The oil-to-telecom conglomerate s consolidated net profit of Rs 13,101 crore in the December quarter jumped 37 per cent sequentially, and beat Street expectations of a 32 per cent QoQ PAT improvement. On a yearly basis, the profit grew 12.5 per cent as lower expenses cushioned earnings even as revenues declined. According to Bloomberg estimates, the company’s top line was seen at Rs 1.209 trillion in the December quarter, while the bottom line was expected to be at Rs 10,107 crore. In segment-wise revenue, the company’s digital services was the only business that saw an uptick - of 33 percent on a year-on-year (YoY) basis at Rs 23,678 crore. Oil-to-chemicals, oil and gas, and retail w
Updated Jan 25, 2021 | 17:18 IST
The weak topline performance of the company was attributable to the continued struggles of the refining business and retail business of the company due to the Covid-19 pandemic RIL stocks tank over 5% post weak Q3 earnings, Ambani losses $5.2 billion in a day | Photo Credit: BCCL
Mumbai: As RIL stock fell 5 per cent intraday on Monday, Mukesh Ambani, Chairman of India’s largest listed company, will see a notional loss of wealth close to $5.2 billion, as reported by ET.
Currently, Ambani s place in the Bloomberg Billionaires’ Index is at No. 11, and today s loss will likely push him to 12th place. According to the index, Ambani’s wealth was at $79.2 billion prior to today’s stock price crash.