Moneycontrol Daily: Your Essential 7

Reliance Industries Limited is well on track to more than double in size before the end of this decade and grow faster in the days ahead, said Chairman and Managing Director Mukesh Ambani while addressing the company’s shareholders at its 47th annual general meeting (AGM). “This will further cement our position among the most respected and valuable companies in the world,” Ambani added. He added that RIL’s value creation strategy for the future rests on the solid foundation of its track record, which is matched by very few companies globally. Read more here

Today
Baazar Style Retail IPO opens
Archit Nuwood Industries IPO opens
Ecos (India) Mobility & Hospitality IPO closes
Rapid Multimodal Logistics listing on BSE SME
PM to visit Mumbai, Palghar; lay foundation stone of Vadhvan Port project
PM Modi to address Global Fintech Fest
Vodafone Idea's curative plea in AGR case scheduled for SC hearing
Former Jharkhand CM Champai Soren to join BJP
NEET PG 2024 Scorecard to be released
Cyclone to form in Arabian Sea
Delhi to host International Education Fair
Para Paralympics Day 2 Tomorrow
NBCC board to consider issue of bonus shares
Meerut to Lucknow: New Vande Bharat Express inaugural run
High Court adjourns hearing on CM Siddaramaiah's prosecution
Karnataka: Cong to hold ‘Raj Bhavan Chalo’ march demanding prosecution of HD Kumaraswamy

The benchmark Nifty 50 recorded a fresh all-time closing high during the monthly F&O expiry session on August 29, continuing to outperform the Bank Nifty. The index maintained its upward trajectory for the 11th consecutive session, with momentum indicators sustaining a positive bias. Hence, experts anticipate the Nifty 50 moving towards 25,300 as the immediate target, followed by 25,500 in the September series, with support at the 25,000–24,950 zone. The Bank Nifty is likely to surpass 51,500 as long as it holds 51,000 as support on a closing basis. On Thursday, the Nifty 50 climbed 100 points to 25,152, while the Bank Nifty gained 9 points to close at 51,153 amid volatility. On the NSE, 1,647 shares declined, while 715 shares advanced. Read here

Telecom Minister Jyotiraditya Scindia believes India's telecom sector has enough players when compared with other major markets of the world, and has the cheapest mobile data and call rates in the world. However, to expect players to commit to capex in the sector, there shall have to be the promise of returns, he added. Read here

Reliance Industries Ltd Chairman Mukesh Ambani's address to shareholders on August 29 was reminiscent of a Silicon Valley-style keynote, reflecting the conglomerate's growing emphasis on advanced technology and innovation. Ambani's speech was punctuated by more than 50 references to artificial intelligence (AI) as he laid out an ambitious blueprint of deeptech moves to transform the oil-to-telecom conglomerate. Here are some of the deeptech efforts RIL announced at the AGM.

Did you know that you could start SIPs in debt funds too? Debt funds too exhibit volatility (albeit, low) as they are prone to interest rate risks. Due to Rupee Cost Averaging, SIPs ensure that the volatility of the investment is reduced over the tenure of the investment. Debt funds help in asset allocation, provide easy liquidity and help us create an emergency corpus. Read more here

Life-altering events like marriage or divorce, or births in the case of a family floater health insurance, for instance, are typical cases where people forget to notify the insurer in time. This failure to notify may cause financial losses in cases of claims for hospitalisation or motor accidents. Read here