Author: Staff Writer

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Corporate

Reliance AGM begins today, investors eye key updates

All eyes are on Reliance Industries Ltd (RIL) as Chairman Mukesh Ambani addresses shareholders at the company’s 49th Annual General Meeting (AGM) on Friday. The virtual event, scheduled to begin at 2 pm, is expected to provide important updates on Reliance’s business strategy, growth plans and future investments.

The AGM is one of the most closely watched corporate events in India, attracting attention from investors, analysts and industry observers. Shareholders are particularly keen to hear updates on Reliance’s telecom, retail, energy and digital businesses, which remain key drivers of the conglomerate’s growth.

Market participants are also looking for clarity on the company’s new energy initiatives. Reliance has made significant investments in renewable energy, green hydrogen and clean technology projects in recent years. Investors will be watching closely for timelines, expansion plans and progress on these ventures.

Another area of focus is Reliance Jio, which continues to play a central role in the group’s digital ambitions. Updates on subscriber growth, technology deployment, artificial intelligence initiatives and digital services are expected to feature prominently in Ambani’s address.

Reliance Retail is also likely to be in the spotlight. The business has expanded rapidly across both physical and digital channels, and shareholders are expected to seek insights into future growth opportunities and consumer demand trends.

The AGM comes at a time when Reliance continues to strengthen its position across multiple sectors. The company has been pursuing a strategy of diversification, investing heavily in technology, consumer businesses and sustainable energy while maintaining its leadership in traditional energy operations.

For many shareholders, the annual meeting serves as a key indicator of the company’s future direction. Ambani’s speeches have often included major announcements, business milestones and long-term visions that shape investor expectations.

While no major announcements have been officially confirmed ahead of the meeting, market experts expect the chairman to provide a detailed roadmap for the group’s next phase of growth.

With Reliance playing a pivotal role in India’s corporate landscape, investors will be closely tracking the AGM for signals on business expansion, innovation and value creation in the years ahead.

Also Read: AI Agents outperform doctors in complex clinical decisions

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1 Minute-Read

AI Agents outperform doctors in complex clinical decisions

A new study published in Nature has found that advanced AI agents can outperform doctors in complex clinical decision-making tasks.

Researchers tested the systems across various medical scenarios and found they often delivered more accurate diagnoses and treatment recommendations than individual physicians. Unlike traditional AI tools, these agents can reason through problems, gather information and adapt to new evidence.

Experts say the technology is not meant to replace doctors but support them in making better decisions. While the findings are promising, researchers stress that further real-world testing and strong regulatory safeguards are essential before widespread adoption.

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Corporate

L’Oréal buys majority stake in Innovist

French beauty giant L’Oréal has signed an agreement to acquire a majority stake in Indian beauty and personal care company Innovist, strengthening its presence in one of the world’s fastest-growing consumer markets.

Founded in 2018, Innovist has built a strong reputation in the premium beauty segment through science-backed and digital-first brands such as Bare Anatomy, Chemist at Play, SunScoop and Inveda. The company has gained popularity among young consumers by offering skincare, haircare and personal care products tailored to Indian needs.

The acquisition reflects L’Oréal’s growing confidence in India’s beauty and personal care market, which continues to attract global investors amid rising consumer spending and demand for specialised products. Financial details of the deal have not been disclosed.

For Innovist, the partnership marks a major milestone. What started as a home-grown startup has grown into a recognised player in India’s competitive beauty industry. With access to L’Oréal’s global expertise, research capabilities and distribution network, Innovist is expected to accelerate product innovation and expand its reach in India and overseas markets.

L’Oréal already has a strong presence in India across skincare, haircare and cosmetics. The company views the country as a key growth market, supported by a young population, rising incomes and increasing digital adoption.

Industry experts say the deal highlights the growing appeal of Indian beauty startups to multinational companies. Instead of building brands from scratch, global firms are increasingly investing in local businesses that have already earned consumer trust and established a strong market presence.

The acquisition also reflects the rising popularity of science-led beauty brands in India. As consumers become more aware of ingredients and product performance, companies like Innovist have carved out a niche in the premium personal care segment.

With L’Oréal taking a controlling stake, Innovist is set for its next phase of growth, while India’s beauty startup ecosystem receives another strong vote of confidence from a global industry leader.

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Beyond

EPFO retains 8.25% interest, credit due this month

The Centre has formally approved an 8.25 per cent interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2025-26, bringing welcome news for over seven crore EPFO subscribers across the country. The approval clears the way for the Employees’ Provident Fund Organisation (EPFO) to begin crediting interest into members’ accounts, with the process expected to start later this month.

The interest rate remains unchanged from the previous two financial years, marking the third consecutive year that EPF savings will earn 8.25 per cent. While the rate has been retained, the official approval from the Finance Ministry was necessary before the annual interest could be deposited into subscribers’ accounts.

For millions of salaried employees, the annual EPF interest credit is a significant addition to their retirement corpus. Many subscribers closely track the announcement every year as it directly impacts long-term savings and future financial security.

According to officials, the Finance Ministry has completed its vetting of the proposal, enabling EPFO to proceed with the credit process. Under the organisation’s upgraded digital ecosystem, interest is expected to be reflected in members’ accounts more efficiently than in previous years.

Subscribers need not worry if the interest does not appear immediately in their passbooks. EPFO calculates interest for the entire financial year, and any delay in updating account statements does not result in a loss of earnings. The credited amount remains payable with effect from the relevant financial year once the process is completed.

Members can check whether the interest has been credited through the EPFO portal, the UMANG application, or other official EPFO services. As the crediting exercise begins, millions of employees are expected to see their retirement savings grow further, offering a timely boost to household finances and long-term wealth creation.

Also Read: Gold eases to ₹1,49,500, silver at ₹2,59,900

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Beyond

Gold eases to ₹1,49,500, silver at ₹2,59,900

Gold prices edged lower in the national capital on Friday, while silver also witnessed a decline amid subdued demand and mixed global cues.

According to the All India Sarafa Association, gold of 99.9 per cent purity slipped ₹10 to ₹1,49,500 per 10 grams. Gold of 99.5 per cent purity also declined ₹10 to ₹1,48,800 per 10 grams.

Silver prices fell by ₹100 to ₹2,59,900 per kilogram, extending losses from the previous session. Traders attributed the marginal decline to profit-booking and cautious sentiment in the bullion market.

Despite the slight correction, gold continues to trade near record levels, reflecting strong investor interest in safe-haven assets. Market participants remain focused on global economic indicators, inflation trends and central bank policy signals, which continue to influence bullion prices.

Jewellers said consumer demand has remained steady, particularly from households purchasing gold for weddings, festive occasions and long-term savings. However, elevated prices have prompted some buyers to postpone large purchases in anticipation of a correction.

Silver, which is influenced by both investment demand and industrial consumption, has also remained volatile in recent weeks. Market experts expect prices of both metals to remain sensitive to developments in international markets, currency movements and economic data releases.

For many Indian households, gold continues to be viewed as a dependable store of value and a traditional investment avenue. Even as prices fluctuate, the yellow metal remains a preferred choice for preserving wealth during uncertain times.

With global markets closely watching economic and geopolitical developments, bullion traders expect gold and silver prices to witness further movement in the coming weeks, keeping investors and consumers attentive to daily price trends.

Analysts noted that gold has remained resilient despite easing geopolitical tensions in parts of West Asia. Concerns over global economic growth and uncertainty surrounding interest rate trajectories have continued to support demand for the precious metal.

Also Read: Sensex slides 750 points, Nifty below 24,000

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Corporate

Sensex slides 750 points, Nifty below 24,000

Indian benchmark equity indices ended sharply lower on Friday despite supportive global cues from easing crude oil prices and reduced geopolitical tensions. The BSE Sensex plunged more than 750 points during the session before settling 729 points lower at 76,688.63, while the NSE Nifty50 declined 198 points to close at 23,970.60, slipping below the psychologically important 24,000 mark.

The biggest pressure on the market came from the IT sector. Investors turned cautious after global technology services company Accenture issued a weaker-than-expected business outlook, raising concerns about future demand for software and technology services. Shares of major Indian IT firms, including Infosys, TCS and HCLTech, emerged among the top losers of the day as investors rushed to cut exposure to the sector.

Other notable laggards included Tech Mahindra, Wipro and HDFC Bank, which also witnessed selling pressure. The weakness in technology stocks dragged the Nifty IT index to its lowest level in nearly three years.

Market experts said worries over reduced technology spending by overseas clients prompted investors to book profits in IT stocks after recent gains. The weakness in the sector overshadowed support from favourable global developments.

Meanwhile, crude oil prices continued to decline amid reports of a possible peace agreement between the United States and Iran and the resumption of shipping activity through the Strait of Hormuz. Lower oil prices are generally beneficial for India, one of the world’s largest crude importers, as they help ease inflationary pressures and reduce import costs.

Despite the broader weakness, a few heavyweight stocks helped limit losses. Reliance Industries and Bharti Airtel were among the top gainers, supported by positive investor sentiment and expectations of business growth. Reliance attracted buying interest ahead of its annual general meeting, where investors are expecting key announcements related to telecom, artificial intelligence and data centre businesses.

Also Read: India secures key gains in landmark UK trade deal

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Corporate

Sensex gains 250 points, Nifty tops 24,150

Indian equity markets ended Thursday’s session on a positive note, overcoming early volatility to extend their winning streak for a fifth consecutive day. Investor sentiment remained supported by falling crude oil prices and optimism surrounding global developments, even as concerns over the US Federal Reserve’s hawkish stance weighed on technology stocks.

The BSE Sensex closed 254 points higher at 77,409.98, while the NSE Nifty50 settled above the crucial 24,150 mark at around 24,168, posting gains of nearly 0.3%. The benchmarks had opened on a cautious note and briefly slipped into the red before recovering strongly in afternoon trade.

Among the day’s top performers were Trent, InterGlobe Aviation (IndiGo), select PSU banks and realty stocks, which attracted strong buying interest. Broader markets also remained firm, with mid-cap and small-cap indices advancing alongside the benchmarks.

On the losing side, IT stocks faced pressure after the US Federal Reserve signalled the possibility of further rate hikes. Major technology counters including Infosys, TCS, HCLTech and other IT shares witnessed selling, dragging the Nifty IT index lower by more than 1%.

Market participants said easing crude oil prices continued to provide support to domestic equities. The recent US-Iran agreement helped calm energy market concerns, pushing oil prices lower and improving the outlook for India’s inflation and import bill.

Banking and financial stocks also contributed to the market’s resilience. Investors remained encouraged by progress toward the National Stock Exchange’s proposed IPO and positive developments across several corporate counters.

With foreign and domestic investors continuing to monitor global interest rates, crude oil movements and monsoon progress, traders expect market sentiment to remain stock-specific in the near term. For now, Dalal Street appears to have maintained its momentum, ending another session firmly in the green.

Analysts noted that despite global uncertainties, domestic markets have shown remarkable strength over the past week. Technical indicators suggest that the Nifty remains in a positive trend as long as it holds above key support levels.

Also Read: Google Gemini leader Noam Shazeer joins OpenAI team

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Beyond

India secures key gains in landmark UK trade deal

India has secured significant benefits under its free trade agreement (FTA) with the United Kingdom, providing a boost to both exporters and professionals working overseas.

One of the biggest gains is for the steel sector. Under the agreement, about 85% of India’s steel exports to the UK will remain exempt from Britain’s upcoming safeguard measures, protecting Indian shipments from restrictive trade actions planned by London. This removes a major hurdle that had threatened the smooth implementation of the trade pact.

The deal also delivers relief for thousands of Indian professionals working in the UK. The two countries have agreed to extend social security contribution exemptions from three years to five years for employees temporarily posted abroad. This means eligible workers and employers will avoid making dual social security payments in both countries during the exemption period.

Government officials estimate that 90-95% of Indian professionals sent to the UK by Indian companies could benefit from the arrangement, reducing costs for both employees and businesses.

The India-UK FTA is scheduled to come into effect on July 15 and is expected to strengthen trade, investment and workforce mobility between the two countries. The agreement is also expected to create new opportunities across sectors including manufacturing, services and technology.

Trade experts say the latest concessions address two of India’s key concerns during negotiations. By securing market access for steel exports and easing social security burdens on professionals, the agreement is expected to enhance India’s competitiveness in the UK market while supporting businesses operating across both countries.

The deal marks another step in deepening economic ties between India and the UK, with both nations aiming to expand bilateral trade and investment in the coming years.

Also Read: Jio plans 1,650 satellites to expand broadband reach

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Corporate

Jio plans 1,650 satellites to expand broadband reach

Reliance Jio is preparing for a major leap into space-based communications, with plans to build and launch a low-Earth orbit (LEO) satellite network comprising around 1,600 to 1,650 satellites over the next two to three years. The proposed constellation is aimed at delivering broadband internet and direct-to-device connectivity services across India.

According to reports, Jio has submitted a proposal to the Indian National Space Promotion and Authorisation Centre (IN-SPACe), which is currently evaluating the project’s technical architecture and configuration. If approved, it would mark one of the most ambitious private-sector space initiatives undertaken by an Indian company.

The satellites are expected to operate at an altitude of about 650 kilometres above Earth. Through this network, Jio aims to provide high-speed broadband access in areas where traditional telecom infrastructure is difficult or expensive to deploy.

The system is also expected to support direct-to-device services, enabling mobile phones to connect directly to satellites in certain situations.

Also Read: Vehant debuts India’s first AI body screening system

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Technology

Gemini powers Google’s new home speaker

Google is making a fresh push into the smart home market with a new Google Home speaker powered by its Gemini artificial intelligence platform, betting that advanced AI can reignite interest in smart speakers.

The device marks Google’s first major smart speaker launch in nearly six years and represents a shift away from traditional voice assistants. Instead of responding only to simple commands, the new speaker is designed to hold more natural conversations, understand context and handle multiple requests in a single interaction.

Powered by Gemini for Home, the speaker allows users to speak in a more conversational manner. Users can ask follow-up questions, control multiple smart home devices at once and receive more detailed responses without repeating commands.

Google says the speaker has been built specifically for AI-first experiences. It features improved voice recognition, better noise handling and local AI processing to make interactions faster and more reliable. The device also acts as a hub for connected smart home products and supports industry standards such as Matter and Thread.

The company hopes the product will help it compete more effectively with Amazon’s Echo range and Apple’s growing smart home ecosystem. Industry experts believe the integration of generative AI could give smart speakers a new purpose after years of limited innovation in the category.

The speaker is expected to be available from June 25 and comes with access to premium Gemini features for early buyers. Google has reportedly fixed thousands of software issues during testing to improve the user experience before launch.

With AI becoming central to consumer technology, Google is positioning Gemini as the future of home assistance, transforming smart speakers from simple voice-controlled gadgets into more capable digital companions.

Also Read: RBI settles Apollo FEMA case after ₹17.76 cr payment