Wednesday, September 02
Shares of Reliance Industries Ltd. (RIL) rose 1.1% on Friday to hit a new 52-week high of Rs 1,580.90 on the BSE after global brokerage firm Jefferies reiterated its ‘Buy’ rating on the stock with a price target of Rs 1,785, implying a potential upside of 14%.The brokerage cited improving earnings growth and multiple valuation triggers across all of RIL’s core business segments—retail, oil-to-chemicals (O2C), telecom, and FMCG—as the key drivers.The brokerage also highlighted that the stock continues to trade below its long-term EV/EBITDA average, which indicates a favourable risk-reward.Jefferies noted that all three major verticals of Reliance are delivering double-digit growth in year-to-date FY26, with tailwinds visible from strong festive season demand, expansion in FMCG, an
For four years, Bharat Harakchand Shah believed his modest, inherited portfolio was quietly growing. Annual statements allegedly showed profits. Calls from account advisers felt reassuring. It was not until a sudden phone call in July 2024 demanding Rs 35 crore that the 72-year-old Mumbai resident realised, as per reports, that something had gone devastatingly wrong, a moment that would lead him to file a police complaint now under investigation by the Mumbai Police’s Economic Offences Wing, including an FIR filed against Globe Capital.Shah, who runs a low-rent guest house for cancer patients in Parel and lives in Matunga West, alleged that neither he nor his wife had any real knowledge of the stock market. The shares they held were inherited decades earlier, in 1984, after the death of
The Reserve Bank of India (RBI) on Friday said it has imposed a penalty of Rs 91 lakh on HDFC Bank Limited for violating provisions of the Banking Regulation Act, 1949, and for not complying with RBI directions on interest rates on advances, outsourcing of financial services and Know Your Customer (KYC) norms. The bank has been fined because it used multiple benchmarks for the same loan category, allowed a subsidiary to carry out non-permitted business and outsourced KYC compliance checks to external agents, the RBI said. The penalty order was issued on November 18, 2025, under Section 47A(1)(c) read with Section 46(4)(i) of the Act. The action follows the Statutory Inspection for Supervisory Evaluation, which reviewed the bank’s position as on March 31, 2024. Based on the supervisory fi
The government on Friday said it has expanded the list of agencies authorised to carry out search and exploration of coal and lignite by adding 18 new entities, taking their total number to 45. Exploration and preparation of a geological report by an authorised prospecting agency is a prerequisite for operationalisation of a coal mine. Until now, a total of 27 entities have been authorised to operate as prospecting agencies. The addition of new exploration agencies will result in saving of around six months for a mining operator who, until now, has to wait for a report from a prospecting agency about mineral deposits in a particular area. The coal ministry said in a statement that 18 agencies have been added "for carrying out prospecting operations for the exploration of coal and lignite,
