₹614.32 crore after being sellers for the last four straight sessions on Wednesday. DIIs continued their buying streak for the fourth session and bought shares for ₹125.03 crore.Wall Street rallied to its best day since June on Wednesday after pressure that's built up on stocks from the bond market relaxed a bit.
Big Tech stocks and others that benefit from easier interest rates rallied after a report suggested the U.S. economy may be cooling.Sovereign wealth fund Qatar Investment Authority (QIA) has agreed to invest ₹8,278 crore ($1 billion) into the retail arm of Reliance Industries Ltd (RIL), marking a fresh round of investments into Reliance Retail Ventures Ltd (RRVL) after the country’s largest retailer raised ₹47,265 crore in 2021.QIA’s investment values RRVL at ₹8.28 trillion or $100 billion, twice its ₹4.21 trillion valuation in 2021.QIA’s investment will translate into a 0.99% stake in RRVL on a fully diluted basis, RRVL said on Wednesday.“The company might look slightly overvalued now, but the investors are of the view that the high growth in the segment coupled with the large market that the company is targeting will help it grow into the value in future," an investment banker said on condition of anonymity.
(Read More)Wall Street rallied to its best day since June on Wednesday after pressure that's built up on stocks from the bond market relaxed a bit.The S&P 500 climbed 1.1% to trim its loss for what's been a dismal August so far. The Dow Jones Industrial Average rose 184 points, or 0.5%, and the Nasdaq composite jumped 1.6%.Big Tech stocks and others that benefit from easier interest rates led the way.
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