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Moneycontrol Daily: Your Essential 7

A round-up of the most important interesting articles to help you jump start the day.

July 31, 2020 / 07:09 AM IST

Markets Watch 

Reliance biggest gainer

Reliance (RIL), India's largest conglomerate, rose 145 percent from its March 23 low. This makes RIL the biggest gainer among Nifty stocks. A combination of its enduring oil business, as well as the increasing popularity of its digital services, helped them beat analyst estimates. Here are all the details.

Big Story 

America in shambles 

The US economy shrank at a 33 percent annual rate in the April-June quarter, which has been the worst quarterly plunge. The previous worst quarterly drop can be traced back to a 10 percent drop, which occurred in 1958 during Eisenhower's term. Here, are the circumstance that resulted in the current plunge.

Your Money 

Not all that glitters...

Recently, gold made a new high in July. As a result, investors and speculators of the precious metals have also been accumulating silver citing high levels of gold-to-silver ratio. If seen from a trading perspective, silver has already jumped from $18 to $24 which is already a rate of return of over 30 percent. While all fingers point in the right direction, how high can silver really reach? Here are the details.

Global Watch 

Passing the buck 

Applauding President Trump for taking on "imbalance" to make the World Trade Organization (WTO) relevant, US Senator Chuck Grassley took to the floor. Grassley said, that China and India have gotten a lot richer over the last two decades, but have refused to take responsibility. Further, the Senator said that comparing either of the two to a country like Cameroon is "ridiculous".  Here is why this the case.

Tech Tattle 

Green marks the spot 

Swedish streaming company Spotify touched 299 million monthly active users in the second quarter. This shows that they rebounded quickly from the lows brought on by the coronavirus pandemic. With paying subscribers reaching almost 138 million in total, here is how they beat analyst estimates.

Startup Tales 

From seed to sprout 

Ritesh Agarwal, Founder of OYO has floated the idea of a venture capital fund. "Aroa Ventures" will focus on early-stage startups the sectors of leisure, technology, infrastructure, and consumer. Here is what we know so far.


It only takes a drop  

Mecca which saw some 3 million white-clad pilgrims from across the world for haj for years, will now only receive a handful of visitors. This year, Saudis and foreign residents will be taking to these holy sites to pray for the eradication of the coronavirus. Read more to hear their story.

Disclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

first published: Jul 31, 2020 07:04 am