Mukesh Ambani now 9th richest globally

New Delhi: With a net worth of $60 billion, Reliance Industries chief Mukesh Ambani has been ranked the 9th richest person globally, according to ‘The Real-Time Billionaires List’ of Forbes, that was topped by Amazon Founder and CEO Jeff Bezos. Ambani made it to the daily list of top 10 richest people in the world following a significant jump in the share price of his flagship firm Reliance Industries on Thursday. The company also became the first Indian firm to hit the Rs 10 lakh crore market valuation mark on Thursday. PTI

Future Group firms’ shares zoom after Amazon deal

New Delhi: Shares of Future Group companies rallied on Friday after the CCI approved Amazon.com NV Investment Holdings’ proposal to acquire about 49% share in Future Coupons. On the BSE, Future Enterprises settled at upper price band of Rs 26.55, up 19.86%. During the day, Future Consumer hit a high of Rs 29.10, up 14.79%. It settled 8.88% up at Rs 27.60. Future Retail surged nearly 18.22% to Rs 387.90. After shedding early gains, it closed 3.43% up at Rs 339.35. PTI

Core sector output shrinks 5.8% in Oct

New Delhi: Output of eight core infrastructure industries contracted by 5.8% in October, indicating the severity of economic slowdown, as per government data released on Friday. As many as six of eight core industries saw a contraction in output. Coal production fell steeply by 17.6%, crude oil by 5.1%, and natural gas by 5.7%. Production of cement (- 7.7%), steel (- 1.6%), and electricity (- 12.4%) also declined. The only sector that posted growth in October was fertilizers where output increased by 11.8% yoy. PTI