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Reliance Industries has become the first Indian business to have a market capitalization of Rs 19 trillion

After reaching a new high, Mukesh Ambani’s Reliance Industries Ltd (RIL) became the first Indian listed firm to have a market capitalization of Rs 19 trillion. In an otherwise sluggish market, the stock set a record high of Rs 2,827.10, up 2% on the BSE in intraday trade on Wednesday. RIL’s market capitalization was Rs 19.02 trillion at 09:33 a.m.,…

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Sebi penalises NSE, BSE for laxity in Karvy Stock Broking case

India’s markets regulator on Tuesday fined BSE Rs 3 crore and the National Stock Exchange (NSE) Rs 2 crore for “laxity” in detecting misconduct by Karvy Stock Broking (KSBL). The Hyderabad-based brokerage misused securities worth Rs 2,300 crore belonging to more than 95,000 clients by pledging them without authorisation, said the Securities and Exchange Board of India (Sebi). The firm and its group entities…

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Lankan papers run out of newsprint due to forex crisis; suspend publication

Sri Lanka’s two major newspapers on Saturday suspended their publication over newsprint shortage and price escalation caused by the country’s all-time worst foreign exchange crisis. The Island, an English daily along with its sister Sinhala paper Divayina, ceased to print as the newsprint scarcities and price escalations hit the media organisation. We regret to inform our readers that we have been compelled to suspend the publication…

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Rupee advances 23 paise to 75.93 against US dollar in early trade

The rupee appreciated 23 paise to 75.93 against the US dollar in the opening trade on Tuesday, following a positive trend in domestic equities amid softening global crude oil prices. A weak American currency in the overseas market also helped the domestic unit, forex traders said. At the interbank foreign exchange, the rupee opened strong at 75.97 against the US dollar and gained further…

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