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The company said the quarter saw the highest ever revenue for O2C business in a volatile environment. It said it was also the best quarter for Reliance Retail in terms of revenues, which stood at Rs 58,554 crore, up 51.9 per cent YoY. Also, the quarter was the best in revenue terms for Jio Platforms.

Reliance’s retail division, which runs over 15,866 stores across groceries, consumer electronics and apparel, posted revenues of Rs 51,582 crore in the three months to June, with net profit at Rs 2061 crore.

Net profit for the quarter ended June 30 was Rs 4335 crore, compared to Rs 4173 crore in the previous quarter, and Rs 3501 crore a year before.

The Dow Jones Industrial Average rose 131.02 points, or 0.41%, at the open to 32,167.92. The S&P 500 opened lower by 0.52 points, or 0.01%, at 3,998.43, while the Nasdaq Composite dropped 34.24 points, or 0.28%, to 12,025.37 at the opening bell.

Motilal Oswal Investment Advisors, Edelweiss Financial Services and HDFC Bank are the book-running lead managers to the issue.The equity shares are proposed to be listed on BSE Limited and National Stock Exchange (India) Limited.Sai Silks is one of the leading retailers of ethnic apparel, particularly sarees, in south India in terms of revenues and profit after tax in fiscal 2019, 2020 and 2021.

Interbank rates hit a historic intra-day low before recovering slightly to 228.37 Pakistani rupees to the dollar from 226.81 rupees on Thursday. It was at 210.95 rupees to the dollar when trading opened on the first trading day of the week, Monday and at 178.16 at the start of 2022.

An inversion of the bond market’s yield curve has preceded every U.S. recession for the past half century. It is happening again.

Brokerage Sharekhan expects ICICI bank to report a 39.80 per cent YoY rise in net profit at Rs 6,810 crore compared with Rs 4,871 crore in the same quarter last year. NII was seen rising 20 per cent YoY to Rs 13,119 crore from Rs 10,936 crore in the same quarter last year.

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During the week, Nifty50 successfully cleared the short-term resistance of 16,300 and also cleared the 100-day SMA, said Amol Athawale, Deputy VP for technicals at Kotak Securities."For traders, 16,800 and 169,50 would act as an immediate resistance zone while 16,500-16,350 could be the key support levels," Athawale said.