Business News Update; share market, gold silver, petrol diesel, Jio, Airtel, VI recharges plans | After Jio-Airtel, VI recharges also costlier by 20%: Reliance’s market cap crosses ₹ 21 lakh crore, the first company in the country to achieve this milestone.

Yesterday’s big news was related to Vodafone-Idea. After Reliance Jio and Bharti Airtel, Vodafone-Idea (VI) has also announced an increase in mobile tariff by about 20%. Reliance Industries has become the first company in India with a market cap of Rs 21 lakh crore.

Before tomorrow’s big news, today’s major events to keep an eye on…

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1. After Jio-Airtel, VI recharge also becomes costlier by 20%: ₹ 179 plan will now be available for ₹ 199, new rates will be applicable from July 4.

After India’s two largest telecom operators Reliance Jio and Bharti Airtel, Vodafone-Idea (VI) also announced an increase in mobile tariffs by about 20% on Friday, June 28. The company has given this information in its exchange filing. Now the cheapest plan of Rs 179 of VI will be available for Rs 199. It offers 28 days validity, unlimited calling and 2GB data.

Whereas the plan of Rs 269 will be available for Rs 299. In this, unlimited calling and 2GB data is available daily with a validity of 28 days. The new rates will be applicable from July 4. At the same time, Jio had announced plans with new rates yesterday i.e. on 27th June and Airtel had announced plans with new rates in the morning of 28th June. The updated plans of these two companies will be applicable from July 3.

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2. Reliance’s market cap crosses Rs 21 lakh crore: First company in the country to achieve this milestone, share reaches all time high

Reliance Industries has become the first company in India with a market cap of Rs 21 lakh crore. After Jio’s announcement of making recharge plans expensive by 25%, today Reliance’s shares rose by about 2% to reach a record high of Rs 3,162. The market cap of its company has increased.

4 months ago in February 2024, the company had crossed the market cap of Rs 20 lakh crore for the first time. Earlier, the company had crossed the level of Rs 15 lakh crore in September 2021. In 2019, the market cap of Reliance Industries had crossed Rs 10 lakh crore.

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3. Sukanya Samriddhi Yojana will continue to offer 8.2% interest rate: No change in the interest rates of all small savings schemes for the July-September quarter of FY25

The government has made no changes in the interest rates of all small savings schemes for the July-September quarter (Q2FY25). The Finance Ministry has given this information by issuing a notification on Friday (June 28). Earlier, there was no change in the interest rates of all small savings schemes for the April-June quarter (Q1FY25).

This means that for the July-September 2024-25 quarter, the interest rate on Public Provident Fund (PPF) will be 7.1% and Sukanya Samriddhi Yojana will continue to be 8.2%. The government also keeps an eye on the country’s liquidity situation and inflation before deciding on the interest rates of small savings schemes. However, interest rates on small savings schemes including PPF, NSC and KVP are reviewed every quarter. Interest rates on small savings schemes range between 4% to 8.2%.

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4. Stock market fell after making all time high: Sensex fell by 210 points and closed at 79,032, Nifty also fell by 33 points.

The stock market made an all-time high for the fourth consecutive day on June 28. During early trading, Sensex made a high of 79,671 and Nifty made a high of 24,174. However, later there was a decline in the market.

After trading throughout the day, Sensex closed at 79,032 with a fall of 210 points. At the same time, Nifty also fell by 33 points, it closed at the level of 24,010. Out of 30 Sensex stocks, 19 declined and 11 rose.

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5. Motorola Razr 50 Ultra to be launched on July 4: It will have Google AI-Gemini, 4-inch external display and reverse charging; Expected Price ₹75,000

Smartphone maker Motorola is going to launch ‘Motorola Razr 50 Ultra’ in India next week i.e. on 4th July. The smartphone has a 6.9-inch Full HD+ pOLED internal display with 144Hz refresh rate.

At the same time, the company has given a 4 inch external display in it. Motorola claims that the Razr 50 Ultra has the largest display of any foldable phone. The company has shared on its social media handle X and e-commerce website Amazon. The company has given Google’s Generative Artificial Intelligence (AI) feature to this smartphone.

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Option to invest in Contra Fund for better returns: Its money is invested in under-performing stocks, returns up to 57.54% in 1 year

If you want to invest in such stocks which are not performing well now, but can give better returns in the future. However, for this you will have to look at the fundamentals of the companies, for which a lot of research is required.

For this you have to set aside time apart from your work. In such a situation, if you do not have that much time then you can invest in Contra Mutual Fund. Investors investing in contra funds also invest their money in stocks of companies which are not performing well at present.

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Allegations of fraud on Grow: User claims – investment money lost; What are the learnings for investors from this incident?

Investing platform Grow has been accused of fraud. The user claimed that he invested Rs 10,000 in Parag Parikh Mutual Fund Scheme in 2020. The investment transaction was successful and the investment folio number was also generated.

But when he wanted to redeem, it was found that the investment had not been made. In this case, the essential components of the investment were ignored by both the grower and the investor. Grow said that a technical fault occurred and it will be rectified. But, there are many lessons for investors in this whole matter, which they should keep in mind before and throughout the investment.

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