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    535755   INE647O01011

ADITYA BIRLA FASHION AND RETAIL LIMITED

(535755)
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Indian shares end higher; Aditya Birla Fashion surges on Flipkart deal

10/23/2020 | 06:31am EDT

BENGALURU, Oct 23 (Reuters) - Indian shares ended higher on Friday, driven by gains in auto stocks, while a 15 billion rupees investment from Walmart Inc's Flipkart pushed Aditya Birla Fashion and Retail up as much as 17%.

The NSE Nifty 50 index rose 0.28% to 11,930.35, while the benchmark S&P BSE Sensex gained 0.31% at 40,685.50. For the week, both the indexes gained more than 1% each.

Aditya Birla Fashion and Retail gave up some early gains to close 7.5% higher at its best level since March 26 after Flipkart said it will buy a 7.8% stake in the company.

The Nifty Auto Index rose nearly 3%, with carmaker Maruti Suzuki up 4.3%, leading gains as well as acting as the top boost to the blue-chip Nifty 50 index.

"The market is precariously perched, fervently praying that the fiscal stimulus bill in the United States will be passed and that a torrent of liquidity will flow into global equity markets," said Ajay Bodke, chief executive officer and chief portfolio manager (PMS) at Prabhudas Lilladher in Mumbai.

Global stocks remained within a tight range on Friday, less than two weeks before the U.S. presidential election, with traders looking for a breakthrough in stimulus talks in Washington.

"For the Nifty to go beyond 12,000, the earnings momentum needs to become far stronger."

Investors were awaiting earnings reports from Nifty components Nestle India Ltd and Tech Mahindra Ltd .

Corporate results this week, dominated by consumer goods firms, have been a mixed bag, although most expected a rise in demand going forward.

Credit card company SBI Cards and Payment Services Ltd closed down 5.2%, having tumbled as much as 10% to a ten-week low, after reporting a lower profit and a sharp drop in asset quality in the September quarter.

Consumer electricals maker Crompton Greaves Consumer Electricals jumped 14.8% after a surge in second-quarter profit. (Reporting by Chris Thomas and NR Sethuraman in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADITYA BIRLA FASHION AND RETAIL LIMITED -0.24% 207.9 End-of-day quote.25.43%
BIRLA CORPORATION LIMITED -0.72% 1241.45 End-of-day quote.72.05%
CROMPTON GREAVES CONSUMER ELECTRICALS LIMITED -0.15% 430 Delayed Quote.12.99%
MARUTI SUZUKI INDIA LTD 0.33% 7223.8 Delayed Quote.-5.57%
NESTLÉ INDIA LIMITED -0.02% 17543.05 End-of-day quote.-4.62%
NIFTY 50 0.39% 15799.35 Delayed Quote.13.00%
SBI CARDS AND PAYMENT SERVICES LIMITED -0.63% 1095.7 End-of-day quote.28.79%
SENSEX 30 0.33% 52474.76 Real-time Quote.9.89%
TECH MAHINDRA LIMITED 0.76% 1073 Delayed Quote.10.25%
WALMART INC. 0.62% 140.75 Delayed Quote.-2.36%
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Financials
Sales 2021 52 742 M 720 M 720 M
Net income 2021 -5 696 M -77,8 M -77,8 M
Net Debt 2021 9 278 M 127 M 127 M
P/E ratio 2021 -36,2x
Yield 2021 -
Capitalization 195 B 2 663 M 2 663 M
EV / Sales 2021 3,87x
EV / Sales 2022 2,82x
Nbr of Employees 25 000
Free-Float 35,2%
Chart ADITYA BIRLA FASHION AND RETAIL LIMITED
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Technical analysis trends ADITYA BIRLA FASHION AND RETAIL LIMITED
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
 
Mean consensus -
Number of Analysts
Average target price
Last Close Price 207,90 
Spread / Highest target -
Spread / Average Target -
Spread / Lowest Target -
EPS Revisions
Managers and Directors
NameTitle
Ashish Dikshit Managing Director & Executive Director
Jagdish Bajaj Chief Financial Officer & Chief Risk Officer
Kumar Mangalam Birla Non-Executive Chairman
Praveen Shrikhande Chief Digital & Information Officer
Geetika Anand Talwar Secretary, Compliance Officer & Assistant VP
Sector and Competitors
1st jan.Capitalization (M$)
ADITYA BIRLA FASHION AND RETAIL LIMITED25.43%2 663
INDITEX20.28%118 011
KERING24.98%112 076
FAST RETAILING CO., LTD.-10.78%76 754
ROSS STORES, INC.-2.22%42 883
HENNES & MAURITZ AB22.53%41 904