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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
Delayed NSE India Stock Exchange  -  07:32 2022-10-07 am EDT
2432.35 INR   +0.42%
02:52aReliance Industries Chairman Plans to Set Up Family Office in Singapore
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10/06India police detain one after death threats to billionaire Ambani, family
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Indian shares post worst week since November on concerns over rate hikes

05/06/2022 | 06:43am EDT
A man looks at a screen displaying news of markets update inside the Bombay Stock Exchange building in Mumbai

BENGALURU, May 6 (Reuters) - Indian shares closed over 1% lower on Friday and registered their worst week since November, as investors fretted that fast-paced interest rate hikes to fight surging inflation would slow global economic growth.

The NSE Nifty 50 index was down 1.63% at 16,411.25 at close, with most of its sub-indexes in the negative territory. The S&P BSE Sensex fell 1.56% to 54,835.58.

The Indian rupee weakened as much as 0.9% to 76.97 against the dollar earlier in the session, its lowest level since March 7. It settled at 76.91.

The benchmark indexes also posted a fourth consecutive weekly fall, weighed down by a surprise interest rate hike by the Reserve Bank of India, foreign fund outflows and mixed corporate earnings results.

Foreign investors have net sold Indian equities worth $635 million so far this week, compared with $881 million offloaded in the same period last week, according to Refinitiv data.

"Domestic markets are lower on the global headlines, which are focusing more on high inflation as well as the Fed rate increase two days ago," said Prashanth Tapse, vice president of research at Mehta Equities.

The Fed on Wednesday raised interest rates by half a percentage point as expected and Chair Jerome Powell explicitly ruled out a 75-basis-point hike in the next policy meeting.

Nifty's metal, IT, finance and realty were among the top losers, declining between 2% and 3.5%.

Reliance Industries, India's most valuable company, fell 0.8%. The oil-to-retail conglomerate is due to report quarterly results later in the day.

Agrochemical maker UPL fell 4.4%. The company said https://bit.ly/3kMSPuW fire at one of its plants at Ankleshwar in the state of Gujarat injured five people and UPL was investigating the cause.

Global stocks fell on Friday as markets anticipated more U.S. rate hikes, while Asian peers declined on fears about the hit to growth from China's zero-COVID policy. (Reporting by Rama Venkat in Bengaluru and additional reporting by Gaurav Dogra; Editing by Vinay Dwivedi, Subhranshu Sahu and Krishna Chandra Eluri)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.72% 0.6368 Delayed Quote.-10.30%
BRITISH POUND / US DOLLAR (GBP/USD) -0.62% 1.10913 Delayed Quote.-16.08%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.03% 0.7274 Delayed Quote.-7.03%
EURO / US DOLLAR (EUR/USD) -0.49% 0.9741 Delayed Quote.-13.90%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.58% 0.012076 Delayed Quote.-8.78%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.99% 0.56041 Delayed Quote.-15.51%
NIFTY 50 -0.10% 17314.65 Delayed Quote.-0.13%
NIFTY 500 -0.11% 15036.7 Delayed Quote.0.38%
RELIANCE INDUSTRIES LTD 0.42% 2432.35 Delayed Quote.2.28%
S&P GSCI PETROLEUM INDEX 3.59% 361.1788 Real-time Quote.27.13%
SENSEX BSE30 -0.05% 58191.29 Real-time Quote.-0.05%
All news about RELIANCE INDUSTRIES LTD
02:52aReliance Industries Chairman Plans to Set Up Family Office in Singapore
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10/06India police detain one after death threats to billionaire Ambani, family
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10/05Reliance Jio Launches Beta Trial of 5G Telecom Services
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10/04Reliance Industries : Jio Announces the Launch of JIO TRUE 5G
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10/04Reliance Industries Arm Forms Electronic Manufacturing JV with Nasdaq-listed Sanmina
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Analyst Recommendations on RELIANCE INDUSTRIES LTD
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Financials
Sales 2023 9 093 B 110 B 110 B
Net income 2023 787 B 9 530 M 9 530 M
Net Debt 2023 1 374 B 16 641 M 16 641 M
P/E ratio 2023 20,8x
Yield 2023 0,41%
Capitalization 15 452 B 187 B 187 B
EV / Sales 2023 1,85x
EV / Sales 2024 1,77x
Nbr of Employees 342 982
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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Mean consensus BUY
Number of Analysts 32
Last Close Price 2 432,35 INR
Average target price 2 896,44 INR
Spread / Average Target 19,1%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
Savithri Parekh Secretary & Compliance Officer
Adil Siraj Zainulbhai Independent Non-Executive Director
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