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MarketScreener Homepage  >  Equities  >  NATIONAL STOCK EXCHANGE OF INDIA  >  Reliance Industries    RELIANCE   INE002A01018

RELIANCE INDUSTRIES

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Not in violation of US sanctions: Reliance

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04/20/2019 | 08:19pm EDT

IANS New Delhi India’s Reliance Industries on Saturday said that reports suggesting its involvement in an arrangement that leads to cash payment for Venezuelan state oil company PDVSA via third parties and hence violating US sanctions are false. “Reliance has purchased Venezuelan crude oil from companies such as Rosneft long before the imposition of US sanctions, as they do get title to Venezuelan oil in return for a reduction in their prior debt,” the company said in a statement. “Since sanctions were imposed, Reliance has made such purchases with the full knowledge and approval of the US Department of State, and Reliance has informed US Department of State of specific volumes and transactions.” It further clarified that such transactions do not lead to any consequent payment to PDVSA and do not violate US sanctions or policies. The company said that its price agreement with such sellers is at market and payments by Reliance for such supplies are settled in cash or by-product supply bilaterally between Reliance and such sellers.

(c) 2019 Qatar Tribune. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials (INR)
Sales 2020 6 219 B
EBIT 2020 766 B
Net income 2020 490 B
Debt 2020 2 749 B
Yield 2020 0,62%
P/E ratio 2020 16,49
P/E ratio 2021 13,64
EV / Sales 2020 1,80x
EV / Sales 2021 1,60x
Capitalization 8 439 B
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Mean consensus OUTPERFORM
Number of Analysts 35
Average target price 1 401  INR
Spread / Average Target 4,8%
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Managers
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Vipul Shah Chief Operating Officer
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Chief Financial Officer
Nikhil Rasiklal Meswani Executive Director
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