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Reliance AGM 2023: The Reliance Industries Limited annual general meeting will be held on August 28, 2023 at 2pm

Analysts in the market predict that after the demerger of Jio Financial Services Ltd (JFSL) from RIL, the AGM will likely bring forth significant announcements regarding the forthcoming IPOs of Future Retail and Reliance Jio

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Reliance AGM 2023: The Reliance Industries Limited annual general meeting will be held on August 28, 2023 at 2pm

The 46th Annual General Meeting (AGM) of Reliance Industries Ltd (RIL), led by Chairman Mukesh Ambani, is scheduled for Monday, August 28. During this event, RIL is anticipated to reveal its strategic roadmap for future business endeavours. One major point of interest among investors has been the potential timeline for the initial public offering (IPO) of Reliance Jio, although several financial experts have previously suggested that this IPO might not materialize in the current year.

Analysts in the market predict that after the demerger of Jio Financial Services Ltd (JFSL) from RIL, the AGM will likely bring forth significant announcements regarding the forthcoming IPOs of Future Retail and Reliance Jio. There’s also an expectation that the company might introduce reasonably priced 5G devices and share plans for leadership succession.

Furthermore, the AGM is projected to provide insights into the fundamentals of Jio Financial Services Ltd. Updates on RIL’s 5G rollout and prepaid plans are also anticipated. In a recent development, Reliance Jio launched the Jio Bharat device at Rs 999, aiming to offer affordable access to its high-quality Jio 4G network to customers who are still using 2G technology. Reports suggest that announcements about the launch date of Jio AirFiber and Jiobook laptops might be made as well, along with expansion plans for Jio Financial Services.

The market’s optimism hinges on possible revelations about the Future Retail IPO. During the 2019 AGM, RIL had declared its intention to list its telecom and retail businesses within the subsequent five years. RIL is also likely to provide updates on its partnerships with Netflix in relation to prepaid bundled packages. There are speculations that Reliance New Energy might disclose information about its investments in clean energy

Reliance AGM 2022: Takeaways

Mukesh Ambani unveiled plans for the introduction of 5G standalone services in India. He revealed that these cutting-edge services are set to be launched in specific metropolitan areas by Diwali. Additionally, Akash Ambani, who serves as the Chairman of Reliance Jio, made an announcement regarding the debut of JioAirfiber. This innovative wifi hotspot is designed to provide consumers with access to speeds comparable to fiber optics, both in residential settings and workplaces.

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Rapido to introduce cab services soon

The company intends to introduce Rapido taxis in Delhi-NCR as early as next week, according to sources.

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Rapido

Rapido, the two- and three-wheeler ride-hailing platform with the quickest growth, is getting ready to introduce the taxi service on a wide network shortly. According to reports, Rapido’s planned facility will offer a service comparable to that of Ola and Uber.

According to the report, a daily choice would be made to provide passengers with a flawless travel experience. The brand hasn’t yet disclosed the precise launch information, though.

The company is currently testing out a taxi service in Hyderabad and is receiving positive feedback from users. According to reports, the company is testing the service at an advanced stage and may expand the network to further locations once it receives more positive feedback.

The company intends to introduce Rapido taxis in Delhi-NCR as early as next week, according to sources.

A statement from Rapido that read, the company is thrilled to share that our test run for Rapido Cabs in Hyderabad is off to a fantastic start. The dynamic market of the city has welcomed us with open arms, and the encouraging feedback is quite encouraging. We sincerely hope to expand our cutting-edge services to further cities and are dedicated to keeping you fully updated on our progress as we forge ahead.

Additionally, the article mentioned that Rapido wants to work with Zingbus, a company based in Gurugram, to integrate intercity bus ticketing into its app.

Meanwhile, for the previous eight years, Rapido has been providing bike taxi services. Since its founding in 2015, the organisation has expanded its network to encompass over 100 communities across the country, and it has received overwhelmingly positive feedback. Following its popularity, the brand expanded to include the 3-wheeler category with the same service.

Based on information found on Tracxn, Rapido has raised $324 million in total. Swiggy, an online meal delivery business, spearheaded the company’s $180 million fundraising effort in April of last year.

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BSE Sensex, Nifty fall due to tension in Middle East

The 30 share Bombay Stock exchange fell 407.19 points in the early trade. The Nifty fell 142.7 points. Asian Paints, IndusInd Bank, Titan, Tata steel and State Bank of India were the major stock which lagged behind.

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BSE Sensex, Nifty falls due to tension in Middle East

The BSE Sensex, Nifty fell on early trade on Monday as rising tensions in the middle east has set off a risk off in the market. According to market analysts investors preferred to remain on the sidelines and did not take any big risks as Hamas-Israel conflict has caused huge uncertainity for the markets.

The 30 share Bombay Stock exchange fell 407.19 points in the early trade. The Nifty fell 142.7 points. Asian Paints, IndusInd Bank, Titan, Tata steel and State Bank of India were the major stock which lagged behind. But Sun Pharna, Hindustan Unilever, Infosys, Wipro, TCS, Tech Mahindra and HCL technologies did not go according to the market trend and traded in the positive territory.

The BSE had gone up 364.06 points or 0.55 percent to settle at 65,995.63 points on Friday. The Nifty had gone up 107.75 points to settle at 19,653.50. The Hamas-Israel conflict has caused a huge uncertainity in the market. VK VijayaKumar, chief investment strategist at Geojit Financial services said No one knows how this war is going to evolve.

He said the war is not going to cause disruption to the oil supplies, the situation will change if Iran is drawn to the war. As Iran is a major Hamas supporter. Vijayakumar said this can cause disruption in oil supplies which will further lead to increase in crude oil prices. He said it is a time to remain cautious in the market.

The manufacturing data and industrial production for the month of August are going to be announced on October 12. Inflation rate for September will be announced after the Wholesale price index (WPI) data on October 13.The Reserve Bank of India had left its key interest rate unchanged. RBI signaled to keep liquidity tight by using bond sales to bring prices closer to market.

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First look of Air India’s aircraft following changes to the logo and design revealed | See here

Air India uploaded images of its A350 aircraft parked in a paint shop in Toulouse, France, on X, formerly known as Twitter. This winter, the jet will touch down in India.

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Air India

Prominent airline Air India posted the first image of its aircraft on Saturday after changing its name, logo, and livery after being acquired by the Tata Group.

Air India uploaded images of its A350 aircraft parked in a paint shop in Toulouse, France, on X, formerly known as Twitter. This winter, the jet will touch down in India.

Here is the majestic A350 in our new livery for the first time, as seen in Toulouse’s paint shop. This winter, our A350s start returning home… @Airbus, tweeted Air India.

As part of its rebranding effort, Air India earlier in August announced its new logo and colour palette.

The new logo, which features a more stylized style and a new colour scheme of red, white, and purple, is a contemporary interpretation of the airline’s well-known Maharaja mascot.

The strong red lettering of Air India is still present in the new colour scheme but is in a different font. Air India is written in white in a red area on the underside of the aircraft as part of the colour scheme.

According to the airline, the new livery and design of the aircraft incorporates a pattern that is inspired by the chakras and a colour scheme of deep red, aubergine, and gold highlights.

The airline’s previous logo, which depicted a red swan embellished with the recognisable orange Konark Chakra, has been replaced.

Tata Sons Chairman N Chandrasekaran stated the new logo signifies limitless possibilities at the time of unveiling it.

In January 2022, Tata Sons bought Air India through Talace Private Limited, an entirely owned subsidiary. Later, it was revealed that Air India and Vistara, a different Tata Sons division, will be combined to form a more cohesive organisation. By March 2024, this merger is expected to be finished.

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