Reliance Industries (RIL) and Jio Platforms announced that Qualcomm Ventures, the investment arm of Qualcomm Incorporated, an industry leader in wireless technologies, has committed to invest upto Rs 730 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore. Qualcomm Ventures' investment will translate into 0.15% equity stake in Jio Platforms on a fully diluted basis. The investment will deepen the ties between Qualcomm and Jio Platforms, to support Jio Platforms on its journey to rollout advanced 5G infrastructure and services for Indian customers. Separately, Reliance Industries' subsidiary Jio Platforms received subscription amounts from Interstellar Platform Holdings Pte (Rs 1,894.50 crore for 0.39% stake), The Public Investment Fund (Rs 11,367 crore for 2.32% stake), SLP Redwood Holdings and SLP Redwood Co-Invest (DE), L.P. (Silver Lake) (Rs 10,202.55 crore for 2.08% stake) and General Atlantic Singapore JP Pte (Rs 6,598.38 crore for 1.34% stake). Infosys and Old National Bancorp, the largest financial services bank holding company headquartered in Indiana, announced a strategic partnership that will enable faster adoption of digital solutions, modernize ONB's existing technology infrastructure, and enhance both the client and employee experience. Biocon announced that it has received the Drugs Controller General of India's (DCGI) approval to market Itolizumab (ALZUMAb) Injection 25mg/5mL solution for emergency use in India for the treatment of cytokine release syndrome (CRS) in moderate to severe ARDS (acute respiratory distress syndrome) patients due to COVID-19. Avenue Supermarts' consolidated net profit fell 87.59% to Rs 40.09 crore on a 32.47% decline in total income to Rs 3,933.78 crore in Q1 June 2020 over Q1 June 2019. Galaxy Surfactants informed that the company has restarted operations at its units in Tarapur Location in a phased manner after receiving necessary permissions from the statutory authorities. Clariant Chemicals (India) informed that the board of directors of the company has approved payment of special interim dividend on equity shares at Rs 140 per share for the financial year 2020-21. The company has fixed 18 July 2020 as the record date for the purpose of payment of special interim dividend. Indian Railway Catering & Tourism Corporation's net profit surged 79.36% to Rs 150.61 crore on 5.14% rise in total income to Rs 607.24 crore in Q4 March 2020 over Q4 March 2019. Steel Authority of India's consolidated net profit surged 382.95% to Rs 2,647.52 crore on 11.92% decline in total income to Rs 16,574.71 crore in Q4 March 2020 over Q4 March 2019. Gujarat Narmada Valley Fertilizers & Chemicals' consolidated net profit surged 152.11% to Rs 240.01 crore on 7.85% decline in total income to Rs 1,384.76 crore in Q4 March 2020 over Q4 March 2019. Powered by Capital Market - Live News |