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MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Reliance Industries Ltd    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

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Sensex, Nifty post first weekly fall in over a month, Reliance drags

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07/31/2020 | 04:35am EDT
A broker watches a TV news channel as another monitors share prices at a brokerage firm in Mumbai

Indian shares posted their first weekly decline in more than a month on Friday due to a selloff in Reliance Industries, but gains in State Bank of India and pharma stocks kept losses in check.

The NSE Nifty 50 index fell 0.26% to 11,073.45 and the S&P BSE Sensex dropped 0.34% to 37,606.89. For the week, the NSE and BSE indexes slid for the first time since mid-June by 1.08% and 1.37%, respectively.

On a monthly basis, however, Nifty and Sensex were up 7.5% and 7.7%, respectively.

Shares of Reliance Industries, India's most valuable company, fell as much as 2.7% in the session, after the company's revenue from operations fell almost 44% as the coronavirus crisis slammed its refining and petrochemicals businesses.

The conglomerate's stock had gained for eight out of the last 10 sessions and saw its market capitalization cross 13 trillion rupees ($174.01 billion) during that time.

State Bank of India (SBI), India's biggest lender by assets, rose as much as 4.4% after its profit surged and bad-loan provisioning fell in the quarter to June.

SBI's results boosted the Nifty state-owned banking index up 1.2%.

The country's biggest drugmaker Sun Pharma also rose as much as 6% after its results, helping the Nifty pharma index gain nearly 4% in the session.

Sun Pharma's rival Cipla rose over 5% and topped the Nifty gainers. Smaller drugmakers Laurus Labs and Torrent Pharma advanced 19% and 13%, respectively, after they reported strong results.

Bus and motorcycle maker Eicher Motors was the top laggard, falling 2.74%, while large shadow lender HDFC shed 1.6%.

India's coronavirus cases surged by over 55,000 in the past 24 hours to 1.64 million, government data showed. A Reuters poll published on Wednesday said the outlook for Asia's third-largest economy has worsened as business activity slows due to infections.

(Reporting by Derek Francis in Bengaluru; Editing by Rashmi Aich)

Stocks mentioned in the article
ChangeLast1st jan.
BANK OF INDIA LIMITED 1.51% 47.1 End-of-day quote.-33.14%
EICHER MOTORS LIMITED -2.52% 20639.05 End-of-day quote.-8.32%
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED -1.55% 1782.85 End-of-day quote.-26.13%
LAURUS LABS LIMITED 18.04% 933.6 End-of-day quote.159.66%
MOTORCYCLE HOLDINGS LIMITED 3.49% 1.78 End-of-day quote.-14.42%
RELIANCE INDUSTRIES LTD -1.98% 2067.1 End-of-day quote.36.53%
SENSEX 30 -1.77% 36939.6 Real-time Quote.-8.84%
STATE BANK OF INDIA 2.63% 191.45 End-of-day quote.-42.64%
SUN PHARMACEUTICAL INDUSTRIES LTD. 4.27% 531.7 End-of-day quote.22.92%
TORRENT PHARMACEUTICALS LIMITED 9.27% 2662.7 End-of-day quote.44.17%
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Financials
Sales 2021 5 493 B 73 249 M 73 249 M
Net income 2021 427 B 5 691 M 5 691 M
Net Debt 2021 845 B 11 274 M 11 274 M
P/E ratio 2021 31,0x
Yield 2021 0,35%
Capitalization 13 124 B 175 B 175 B
EV / Sales 2021 2,54x
EV / Sales 2022 2,03x
Nbr of Employees 195 618
Free-Float 53,8%
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Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 2 022,48 INR
Last Close Price 2 067,10 INR
Spread / Highest target 20,9%
Spread / Average Target -2,16%
Spread / Lowest Target -44,4%
EPS Revisions
Managers
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Nikhil Rasiklal Meswani Executive Director
Hital Rasiklal Meswani Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
RELIANCE INDUSTRIES LTD36.53%175 170
EXXON MOBIL CORPORATION-39.70%177 923
BP PLC-41.66%72 772
CHINA PETROLEUM & CHEMICAL CORPORATION-29.21%65 729
PTT-11.36%35 674
NESTE OYJ25.34%35 317