Business highlights

DCM36 BIZ-STOCKS-LD RIL RIL shares jump over 6 pc; market valuation crosses Rs 11 lakh cr mark New Delhi: Shares of Reliance Industries on Friday jumped over 6 per cent after Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free. DEL51 BIZ-GOLD-PRICE Gold prices jump Rs 144, silver rises by Rs 150 New Delhi: Gold in the national capital rose by Rs 144 to Rs 48,334 per 10 gram in-line with gain in international prices of the precious metal, according to HDFC Securities..

Following are the top business stories at 1820 hours: DCM33 BIZ-2NDLD AMBANI-DEBT Reliance is now net-debt free after Rs 1.69 lakh cr fund raising: Mukesh Ambani New Delhi: Billionaire Mukesh Ambani on Friday announced that his oil-to-telecom conglomerate Reliance Industries is now net-debt free months ahead of its March 2021 target after raising a record Rs 1.69 lakh crore from stake sales and rights issue in less than two months time. BOM14 BIZ-FOREX-RESERVES Forex reserves up by USD 5.94 bn to hit record USD 507.64 bn Mumbai: India's forex reserves rose substantially by USD 5.942 billion to touch a life-time high of USD 507.644 billion in the week to June 12, helped by a significant jump in the foreign currency assets (FCA), RBI data showed.

DEL52 BIZ-LD-RUPEE Rupee drops 6 paise to 76.20 against dollar amid COVID-19 concerns Mumbai: The rupee settled 6 paise lower at 76.20 against the US dollar on Friday as strengthening of the US currency and rising COVID-19 cases weighed on investor sentiment. DEL49 BIZ-LD STOCKS Sensex soars 524 pts on RIL push; logs weekly gains Mumbai: Equity benchmarks darted up for the second straight day on Friday, boosted by market heavyweight Reliance Industries which soared to a record high after announcing it has become net-debt free. DEL3 BIZ-PETROL-HIKE Petrol price hiked by 56 paise/litre, diesel by 63 paise; 13th straight day of increase New Delhi: Petrol price on Friday was hiked by 56 paise per litre and diesel by 63 paise a litre, taking the cumulative increase in rates to Rs 7.11 and Rs 7.67 per litre respectively in less than two weeks.

DCM31 BIZ-INFLATION-FARM LABOUR Retail inflation for farm, rural workers eases marginally in May New Delhi: Retail inflation for farm and rural workers in May fell slightly to 8.4 per cent and 8.12 per cent, respectively in May as compared with April this year, a labour ministry statement said on Friday.  DCM10 BIZ-LIC-DISINVESTMENT FinMin invites bids from transaction advisors for LIC IPO New Delhi: Kick-starting the process of LIC disinvestment, the Finance Ministry on Friday invited bids from consulting firms, investment bankers, and financial institutions for advising it on the proposed initial public offer. DCM36 BIZ-STOCKS-LD RIL RIL shares jump over 6 pc; market valuation crosses Rs 11 lakh cr mark New Delhi: Shares of Reliance Industries on Friday jumped over 6 per cent after Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.

DEL51 BIZ-GOLD-PRICE Gold prices jump Rs 144, silver rises by Rs 150 New Delhi: Gold in the national capital rose by Rs 144 to Rs 48,334 per 10 gram in-line with gain in international prices of the precious metal, according to HDFC Securities..