reliance industries

Besides, Navi Mumbai SEZ Pvt Ltd has been asked to pay a penalty of Rs 20 crore and Mumbai SEZ Ltd has been directed to pay Rs 10 crore.

All sectoral indices at the National Stock Exchange were in the green with Nifty realty rising by 3 per cent, metal by 1.8 per cent, PSU bank and auto by 1 per cent each.

With Ambani no longer among the ten richest people, the United States dominated the list. The only exception was French billionaire and LVMH Chairman Bernard Arnault, who was on the fourth spot with $110 billion net worth.

According to reports, the company reported a 15 percent decline in quarterly profit, as the company recorded serious losses due to the coronavirus pandemic that has adversely affected fuel demand. Revenue fell 24% to Rs 1.16 lakh crore. 

"We delivered strong overall operational and financial performance compared to the previous quarter with recovery in petrochemicals and retail segment and sustained growth in the Digital Services business," said Mukesh D. Ambani, Chairman and Managing Director, RIL.

Among Nifty sectoral indices, Nifty IT gained nearly 1.5 per cent while Nifty PSU Bank slipped around 1.5 per cent. 

In his virtual address, Reliance Industries chairman Mukesh Ambani spoke about the journey of Reliance Jio and vision for country’s digital future.

Sensex ends 300 points higher: Reliance Industries was big gainer as its stocks jumped 2.13% after its retail arm raised Rs 5,512.50 crore from Abu Dhabi Investment Authority (ADIA) for 1.20% stake.

Addressing the inaugural session of RAISE 2020 Summit, Mukesh Ambani said that India will have an advantage over its peers in the future due to enormous digital capital, which will enable faster economic growth, greater prosperity and better standards of living across all sections of our society.

GIC will invest Rs. 5,512 crore for a 1.22 percent stake, while TPG Capital Management will invest Rs. 1,838 crore to own a 0.41 percent equity stake in the retail arm, the company said.