Shares of Reliance Industries (RIL) rose 3 per cent to Rs 2,013.75 on the BSE on Friday after the company said that Saudi Arabia’s Public Investment Fund (PIF) will invest Rs 9,555 crore ($1.29 billion) for 2.04 per cent equity stake in its retail arm.

This investment values Reliance Retail Ventures (RRVL) at a pre-money equity value of Rs 4.587 trillion ($62.4 billion). This investment would further strengthen PIF’s presence in India’s dynamic economy and promising retail market segment, RIL said in media release.

In a major blow in the US Presidential Elections 2020, Donald Trump’s campaign lost court rulings in the closely-contested states of Georgia and Michigan on Thursday, even as it vowed to bring a new lawsuit challenging what it called voting irregularities in Nevada.

In the Georgia case, the campaign alleged 53 late-arriving ballots were mixed with on-time ballots. In Michigan, it had sought to stop votes from being counted and obtain greater access to the tabulation process.

With a fresh spike of 50,210 coronavirus infections and 704 deaths in 24 hours, India's tally on Wednesday rose to 83,64,086, said the Union Ministry of Health and Family Welfare.

Delhi recorded a single-day spike of 6,842 COVID-19 cases on Wednesday, the highest so far, taking the total Delhi tally to 4,09,938.

Amazon India on Wednesday said it has inked an agreement with the Silk Mark Organization of India (SMOI).

As part of the Memorandum of Understanding (MoU), Amazon will launch an exclusive Silk Mark Store with Silk Mark labelled products through multiple sellers associated with the organisation, a statement said.

Shares of State Bank of India (SBI) rallied 7 per cent to Rs 220.95 on the BSE in the early morning trade as the analysts believe earnings normalisation cycle for the state-owned lender has begun as the uncertainty brought about by the pandemic is receding significantly.

More than a dozen Indian Americans, including five women, have won state-level elections, marking a first for the community in many instances.

This is in addition to the four Indian Americans elected to the US House of Representatives: Dr Ami Bera, Pramila Jayapal, Ro Khanna and Raja Krishnamoorthi. At least three other races, including one for the US House of Representatives, are yet undecided.

Ahead of the election results, the campaign team of US President Donald Trump has threatened to file a nationwide lawsuit to expose the election corruption perpetrated by the Democratic Party.

Trump attorney's Rudy Giuliana, during a press conference, said, We are going to continue the lawsuit here [in Philadelphia]. Then we're going to bring a second one and then we're going to bring a federal lawsuit and then we're going to take a good look at whether we're bringing this nationally.

Democratic nominee Joe Biden has won more votes than any other presidential candidate in the US history, shattering a record set by former President Barack Obama, according to a media report.

As of November 4, Biden had got over 70.7 million votes, more than anyone who has ever run for president, the National Public Radio (NPR) reported.

Hindustan Petroleum Corp (HPCL) on Wednesday reported a twofold jump in its second quarter (July-September 2020, or Q2) net profit on the back of a surge in refining margins and inventory gains, and announced a Rs 2,500-crore share buyback plan as the management said it felt the share price was lower than the value it deserves.

Net profit was Rs 2,477 crore compared to Rs 1,052 crore a year back, HPCL Chairman and Managing Director Mukesh Kumar Surana told reporters on a call.

Weary from one of the most bruising US presidential races in modern times, Republican and Democratic voters alike were in a state of high anxiety on Wednesday with the election outcome still unsettled a day after polls closed.

President Donald Trump's false declaration of victory in the early hours of Wednesday, as ballot counting continued in several pivotal states, roiled supporters of Democratic challenger Joe Biden.

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