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    540691   INE674K01013

ADITYA BIRLA CAPITAL LIMITED

(540691)
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Indian shares inch lower as rising virus cases weigh; Reliance top drag

03/17/2021 | 12:57am EDT

BENGALURU, March 17 (Reuters) - Indian shares edged lower on Wednesday as rising domestic COVID-19 cases weighed on sentiment, while investors globally awaited the outcome of a U.S. Federal Reserve policy meeting.

By 0549 GMT, the blue chip NSE Nifty 50 index shed 0.18% to 14,884, while the benchmark S&P BSE Sensex was down 0.08% at 50,324.79.

India is dealing with a fresh surge in COVID-19 cases, with daily COVID-19 infections jumping by 28,903 on Wednesday, the highest increase since Dec. 13.

Expanded lockdowns in certain states due to rising cases is a concern for the market, said Rahul Sharma, market strategist and head of research at Equity99 in Mumbai.

A rise in bond yields has also limited gains for Nifty and Sensex this month to about 3%, compared to a 6.6% jump in February.

"The RBI may have to do a fine balancing act to keep the bond yields at lower levels while managing the government's borrowing program," Sharma added.

The Nifty energy index was the top loser, shedding 1.57% as heavyweight Reliance Industries Ltd fell 1.2%.

The high-flying Nifty IT index was the only major sector trading in the black, rising 0.35%.

SBI Cards and Payment Services Ltd fell as much as 4.4%, after the Mint newspaper reported https://bit.ly/3txERj1 that U.S. private equity firm Carlyle Group Inc will sell a stake worth up to 37.30 billion rupees ($514.18 million) in the Indian credit card distributor.

Investment company Aditya Birla Capital Ltd gained as much as 5.1% after its board gave an in-principle approval to explore an initial public offering for its investment management joint venture with Canada's Sun Life Financial. ($1 = 72.5425 Indian rupees) (Reporting by Anuron Kumar Mitra in Bengaluru; Editing by Rashmi Aich)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADITYA BIRLA CAPITAL LIMITED -1.58% 118.6 End-of-day quote.39.53%
RELIANCE INDUSTRIES LTD -0.71% 2105.7 Delayed Quote.6.06%
SBI CARDS AND PAYMENT SERVICES LIMITED 1.61% 957 End-of-day quote.12.49%
SENSEX 30 0.26% 52975.8 Real-time Quote.10.65%
SUN LIFE FINANCIAL INC. 0.05% 63.98 Delayed Quote.13.04%
THE CARLYLE GROUP INC. 1.39% 46.82 Delayed Quote.48.92%
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Financials
Sales 2021 179 B 2 412 M 2 412 M
Net income 2021 10 609 M 143 M 143 M
Net Debt 2021 - - -
P/E ratio 2021 26,7x
Yield 2021 -
Capitalization 287 B 3 849 M 3 850 M
Capi. / Sales 2021 1,60x
Capi. / Sales 2022 1,26x
Nbr of Employees 22 500
Free-Float 21,2%
Chart ADITYA BIRLA CAPITAL LIMITED
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Technical analysis trends ADITYA BIRLA CAPITAL LIMITED
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TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 118,60 INR
Average target price 145,33 INR
Spread / Average Target 22,5%
EPS Revisions
Managers and Directors
Ajay Srinivasan Chief Executive Officer
Pinky Atul Mehta Chief Financial Officer
Kumar Mangalam Birla Non-Executive Chairman
Mukesh Malik Chief Operating Officer
Amber Gupta Secretary & Compliance officer
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