Market Today

1. AI to machine learning: RIL's $2-billion bet to be a tech tornado

Reliance Industries and its subsidiaries have invested over $2 billion in its four-pronged strategy to become a technology powerhouse. The strategy includes spending over $1.6 billion on buying stakes in 24 tech firms, mostly in telecom and radio communications, big data and 5G.

2. Domestic cooking gas price hiked effective from June 1

For the month of June, there has been an increase in international prices of LPG. Due to increase in the prices in international market, the RSP of LPG in Delhi market will be increased by Rs 11.50 per cylinder.

3. Indian IT to get first non-Indian CEO in Wipro’s Thierry Delaporte

Delaporte, who will take over as CEO and MD on July 6 replacing incumbent Abidali Neemuchwala, is chairman Rishad Premji’s choice to steer Wipro from a decade-long streak of below-par growth that has lagged peers. Rishad took over as Chairman of Wipro from his father Azim Premji last July.

4. LIC listing, IDBI Bank stake sale may be postponed

Listing of Life Insurance Corporation (LIC) and sale of government's stake in IDBI Bank may be delayed beyond March 2021, due to depressed valuation amid COVID-19 pandemic.

5. Kotak Mahindra Bank raises Rs 7,442.5 crore via QIP of shares

The bank on Saturday issued 6.5 crore shares at a price of Rs 1,145 per share to the buyers to raise the money which will buffer its capital reserves, it said in a regulatory filing.