Wed Oct 16 17:42:04 UTC 2024: ## IPL Teams Opt Out of Retention, Reliance Industries Announces Bonus Shares: Key Business News

**Mumbai, India** – The Indian Premier League (IPL) is set to see a shakeup this season, with several big teams opting out of retaining their existing players, according to a recent report. This decision is likely influenced by the Board of Control for Cricket in India (BCCI) altering its Right to Match (RTM) rules.

Meanwhile, Mukesh Ambani’s Reliance Industries has announced a record date for its 1:1 bonus share distribution, meaning existing shareholders will receive one additional share for every share they currently hold.

Other business news includes:

* **Adobe’s Ian Wang** emphasized the company’s focus on making Artificial Intelligence (AI) tools more accessible and user-friendly, rather than imposing them on users.
* **Gujarat’s government** is facing scrutiny for its plans to demolish illegal encroachments along the Arabian Sea, after the Supreme Court rejected its proposal to use bulldozers.
* **Uttar Pradesh** is gearing up to unveil one of the world’s largest bridges, a Rs 2,642 crore rail-road link over the Ganges river.
* **Hyundai Motor India** is gearing up for its Initial Public Offering (IPO), with the subscription status and latest GMP (Grey Market Premium) being closely watched.
* **Bajaj Auto** reported a 31% decline in its consolidated Q2 profit after tax (PAT) to Rs 1,385 crore.
* **Blinkit**, the quick commerce platform, has introduced a lightning-fast 10-minute returns and exchange facility in select cities.

These developments highlight the dynamic landscape of India’s business and financial sectors.

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