Top Headlines: RIL AGM today; Suzuki Motor to set up EV battery unit & more

Reliance Industries (RIL) will hold its 45th Annual General Meeting (AGM) via video conferencing today at 2 pm on Monday, August 29. Meanwhile, the Indian markets are likely to witness turbulence on Monday following US Federal Reserve Chairperson Jerome Powell’s signal that interest rates will stay high for some time. Read more on these in our top headlines.

RIL AGM 2022: Ambani to unveil 5G phone, spell out new, bigger energy plans

Billionaire Mukesh Ambani's Reliance Industries (RIL) will hold its 45th Annual General Meeting (AGM) via video conferencing today at 2 pm on Monday, August 29. The AGM will see some key announcements, including the group's 5G rollout timeline and launch of its JioPhone 5G. The future roadmap of some key businesses, such as retail, telecom and new energy, is also expected at the AGM. Read more

Indian markets may feel the pinch of Fed chief's hawkish comments: Experts

The Indian markets are likely to witness turbulence on Monday following US Federal Reserve Chairperson Jerome Powell’s signal that interest rates will stay high for some time. His statements diminished expectations of an economic soft-landing. Spooked by the comments of Powell, the S&P 500 index in the US dropped 3.4 per cent on Friday. The Indian markets — which have moved in lockstep with American equities this year — may also fall over 2 per cent, fear experts. Read more

Suzuki Motor to invest Rs 18K cr for setting up EV battery unit, car plant

Suzuki Motor Corporation on Sunday announced the setting up of a new research and development (R&D) centre in India. This comes even as Prime Minister Narendra Modi laid the foundation stone for an electric vehicle battery manufacturing plant of the company at Hansalpur in Gujarat. During an event, Modi laid foundation stones for the EV battery unit at Hansalpur and Maruti Suzuki’s upcoming manufacturing plant in Kharkhoda, Haryana. Read more
 

Rupee set to test fresh lows as Powell dispels hopes of softer Fed

Over the past month, speculation of the US Federal Reserve slowing down the pace of monetary tightening amid fears of a recession has been a key factor that lent support to the Indian rupee, with overseas investors returning to domestic assets. But with Fed Chair Jerome Powell on Friday unequivocally stating the US central bank’s commitment to curbing inflation, emerging market currencies, such as the rupee, are set to feel pressure in the coming days because of a strengthening dollar. Read more
 

E-scooters to hit 5% of two-wheeler mkt in FY23: Greaves Electric Mobility

Greaves Electric Mobility (GEM), which sells the Ampere brand of electric scooters, projects that the inflexion point for the conversion of internal combustion engine (ICE) scooters to electric ones will be reached in FY23, hitting 4-5 per cent of the total two-wheeler market. In FY22 the penetration of electric two-wheelers was less than 2 per cent of the market. Read more