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RIL share hits all-time high🔝
Adani rolls out 'Fortune Mart', Demand for commercial EVs to increase and more.
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Reliance Industries at lifetime high; stock has surged over 27% this year📈
Reliance Industries Ltd (RIL) share hit record high in trade amid broader markets holding on to record levels. RIL stock logged a fresh high of Rs 2,529, rising 1.90% against previous close of Rs 2,482.95 on BSE.
The market cap of the firm stood at Rs 16 lakh crore. RIL share has gained 14.69% in one year and has risen 27.24% since the beginning of this year.
The recent rise in the index heavyweight can be attributed to CMD Mukesh Ambani's recent announcements related to expanding India's top valued firm's solar energy projects.
Adani Wilmar rolls out 'Fortune Mart' stores in 6 states🛒
Adani Wilmar, which markets edible oils and other food products under the Fortune brand, on Monday said it has opened 12 physical stores on the franchisee model across six states and plans to start outlets across the country.
Adani Wilmar has so far opened 12 Fortune Mart stores in Jaipur, Jodhpur, Lalitpur, Gandhinagar, Surat, Gandhidham, Jabalpur, Vidisha, Gwalior, Kharghar, Akola, and Haldia. These cover the states of Rajasthan, Uttar Pradesh, Gujarat, Madhya Pradesh, Maharashtra and West Bengal.
The company further aims to launch Fortune Mart stores in north and eastern parts of India in the coming quarter.
Akudo, a learning-focused neobank for teenagers, has raised $4.2 million in its seed round led by Y Combinator, JAFCO Asia, Incubate Fund India, and AET Fund.
Edtech firm 88academics raised equity financing of about $3 million (about Rs 22.1 crore) in a round led by Aarin Capital Partners.
MyGlamm, a direct-to-consumer cosmetics firm, has raised an additional Rs 255 crore in debt and equity as part of its Series C fundraising round.
Demand for commercial EVs likely to skyrocket🔌
Demand for electric vehicles for commercial use is estimated to increase 15 times in the next six months from pre-pandemic times. The growth will be driven by the spike in petrol and diesel prices, incentives rolled out by governments, and ecommerce firms electrifying their last-mile delivery fleets.
Given the rapid growth in ecommerce—accelerated by the pandemic—up to eight million vehicles are expected to be on the road in the urban delivery segment by 2030, according to a Niti Aayog study.
If India were to fully electrify its urban delivery fleet, the country’s EV financing industry would be worth an estimated Rs 3.7 lakh crore by then.
Tweet of the day🐥
⏩ RSS-linked weekly Panchjanya terms Amazon as 'East India Company 2.0'
⏩ Privatization-bound Bharat Petroleum Corporation Ltd (BPCL) to invest ₹1 lakh cr to become future-ready.
“Great things are not done by impulse, but by a series of small things brought together.”
- Vincent Van Gogh
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