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In a media statement issued on 28 August 2026, a Reliance spokesperson said the group 'strongly deny' the allegations and insinuations against its media entities, adding that its media brands have never been used to attack anyone and would not be used for such purposes. Reliance also said it holds Chandra in high regard as a businessman and entrepreneur and wished him well.
Chandra's remarks came against the backdrop of media coverage of his personal insolvency case. The Delhi bench of the NCLT recently approved a repayment plan under which Chandra is required to contribute around Rs 6.25 crore from his personal assets against admitted claims of about Rs 22,006 crore. The case stems from personal guarantees provided by Chandra for borrowings by companies linked to the Essel Group.
The NCLT settlement has drawn objections from lenders, including HDFC Bank and LIC Housing Finance, which are preparing to challenge the tribunal's decision. The lenders have raised concerns over the low recovery under the approved plan. However, reports have also noted that the Rs 22,006 crore represents claims arising from guarantees provided by Chandra and should not necessarily be interpreted as Rs 22,000 crore of personal borrowing by him.
Against this backdrop, Chandra has criticised coverage of the insolvency proceedings by media entities linked to Reliance. Reports said he accused Reliance-linked media, including TV18 and CNBC, of presenting what he described as a misleading narrative about his debt and the NCLT proceedings. He also revived allegations relating to events surrounding Zee's share price and an attempted acquisition involving investor Invesco in 2019. These allegations have been denied by Reliance.
The dispute adds another dimension to the ongoing scrutiny surrounding Chandra's insolvency case, which has attracted attention because of the size of the claims and the extent of the proposed recovery for creditors. Reliance, however, did not address the individual allegations in detail in its statement and limited its response to denying the claims concerning its media businesses.
On Friday, 28 August 2026, Zee Entertainment Enterprises fell 2.05% to settle at Rs 101.85 while Reliance Industries rose 0.37% to settle at Rs 1,287.
Jio Platforms had filed its DRHP with SEBI on 19 June 2026, proposing a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each. The issue will be conducted through the book-building route, with the final issue price to be determined later. The DRHP does not include an offer for sale by existing shareholders.
Reliance Industries will continue to remain the controlling shareholder of Jio Platforms with a 66.43% stake. As of 31 March 2026, Reliance Industries held 593.78 crore shares in Jio Platforms.
The IPO is expected to raise around Rs 37,700 crore, or about $3.8 billion, based on estimates reported following SEBI's observations. If launched at that size, it would become India's largest-ever public issue.
According to the DRHP, up to 50% of the issue size will be allocated to qualified institutional buyers, while at least 35% will be reserved for retail investors. The DRHP also provides for separate reservation portions for eligible Reliance Industries shareholders and employees, although the size of these reservations has not yet been disclosed.
Jio Platforms plans to use up to Rs 27,500 crore of the IPO proceeds to repay or prepay, in full or in part, borrowings of Reliance Jio Infocomm, its material subsidiary. The remaining proceeds are proposed to be used for general corporate purposes.
Jio Platforms reported revenue from operations of Rs 1,46,885.30 crore in FY26, up 14.6% from Rs 1,28,218.40 crore in FY25. EBITDA rose 18.8% to Rs 76,255.40 crore from Rs 64,170 crore, while EBITDA margin improved to 51.91% from 50.05%.
Profit before tax increased 14.9% to Rs 40,353.10 crore in FY26 from Rs 35,127.30 crore in FY25. Profit after tax rose 15.1% to Rs 30,049.10 crore from Rs 26,109 crore a year earlier.
Jio Platforms had a customer base of 524.4 million at the end of FY26, compared with 488.2 million a year earlier. The company houses Reliance Industries' telecom, digital platform and technology businesses.
The proposed listing comes amid continued activity in India's primary market, with the Jio Platforms issue potentially setting a new benchmark for the size of an Indian IPO.
The observation letter represents an important step in the IPO process, but SEBI's observations do not by themselves mean that the IPO has been launched or that the issue dates and price have been finalised. Jio Platforms will still need to complete the subsequent regulatory and offer-document processes before the public issue opens for subscription.
Reliance Industries is India's largest private sector company, with businesses spanning digital services, retail, oil-to-chemicals, exploration and production, new energy and consumer products.
Reliance Industries' consolidated net profit increased 6.12% YoY and 12.66% QoQ to Rs 23,196 crore in Q1 FY27. The figure includes the share of profit from associates and joint ventures. Gross revenue rose 24.50% YoY and 4.60% QoQ to Rs 3,40,257 crore in the June 2026 quarter.
Shares of Reliance Industries rose 0.37% to settle at Rs 1,287 on Friday, 28 August 2026.
In the cash market, the Nifty 50 index advanced 24,252 points or 0.08% to 24,252.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 3.81% to 11.17.
HDFC Bank, Reliance Industries and Infosys were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The August 2026 F&O contracts will expire on 25 August 2026.
The proposed sum would be invested over a period of 30 years.
According to media reports, this project will utilize deep coal reserves in the Chintalapudi and Recherla blocks to produce synthetic gas (syngas).
The proposal builds upon Reliance's acquisition of these blocks under the government's commercial coal mining auctions earlier in 2026.
The project not only represents a major milestone in India's clean energy transition but would also mitigate the dependence on imported energy feedstock, supporting the domestic manufacturing of chemicals, methanol, and synthetic fuels.
The project aims to kick off exploration later this year if early findings look promising, the reports said.
Reliance Industries is India's largest private sector company with businesses spanning digital services, retail, oil-to-chemicals, exploration and production, new energy and consumer products.
The company's consolidated net profit increased 6.12% YoY and 12.66% QoQ to Rs 23,196 crore in Q1 FY27. The figure includes the share of profit from associates and joint ventures. Gross revenue rose 24.50% YoY and 4.60% QoQ to Rs 3,40,257 crore in the June 2026 quarter.
In the cash market, the Nifty 50 index lost 76.60 points or 0.32% to 24,078.30.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.50% to 11.33.
In the cash market, the Nifty 50 index lost 132.75 points or 0.55% to 24,154.90.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rose 0.52% to 11.39.
HDFC Bank, Infosys and Reliance Industries were the top-traded individual stock futures contracts in the F&O segment of the NSE.
Voltas reported a 52.19% increase in consolidated net profit to Rs 213.76 crore in Q1 FY27 compared with Rs 140.46 crore in Q1 FY26. Net sales jumped 18.66% YoY to Rs 4,673.5 crore in the quarter ended 30th June 2026.
Patanjali Foods reported a sharp 86.14% jump in consolidated net profit to Rs 335.73 crore on 29.33% increase in net sales to Rs 11,337.45 crore in Q1 FY27 over Q1 FY26.
NMDC’s standalone net profit rose 1.97% to Rs 2007.40 crore in Q1 FY27 compared with Rs 1968.68 crore in Q1 FY26. Net sales increased 2.43% YoY to Rs 6795.25 crore in Q1 FY27.
Cochin Shipyard reported 19.37% decline in consolidated net profit to Rs 151.45 crore in Q1 FY27 compared with Rs 187.83 crore in Q1 FY26. Net sales rose 2.40% YoY to Rs 1,094.21 crore in Q1 FY27.
Turtlemint Fintech Solutions’ consolidated net loss narrowed to Rs 37.78 in Q1 FY27 compared with net loss of Rs 46.69 crore in Q1 FY26. Net sales jumped 39.71% YoY to Rs 294.08 crore in Q1 FY27.
Aditya Infotech will meet on 19 August 2026, to consider raising funds by way of issuance of securities through various modes.
Hindustan Aeronautics signed a pact with Adani Defence and BEML for manufacturing fuselage structures for Light Combat Helicopters (LCH).
In the cash market, the Nifty 50 index lost 78.35 points or 0.32% to 24,287.65.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.08% to 11.30.
BSE, Reliance Industries and Voltas were the top-traded individual stock futures contracts in the F&O segment of the NSE.
In the cash market, the Nifty 50 index shed 10.60 points or 0.04% to 23,985.35.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 0.77% to 12.56.
Infosys, Hindustan Unilever and Reliance Industries were the top-traded individual stock futures contracts in the F&O segment of the NSE.