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

RELIANCE INDUSTRIES LTD

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Indian shares rise after inflation data; small, mid-caps extend gains

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09/15/2020 | 01:27am EDT

BENGALURU, Sept 15 (Reuters) - Indian shares rose on Tuesday after data showed annual retail inflation eased slightly more than expected in August, while small- and mid-cap stocks extended their gains from the previous session.

The blue-chip NSE Nifty 50 index rose 0.33% to 11,478.15 and the benchmark S&P BSE Sensex 0.31% to 38,878.63 by 0457 GMT.

India's retail inflation in August of 6.69% was lower than a Reuters poll forecast, though it remained above the upper end of the Reserve Bank of India's (RBI) medium-term target for a fifth straight month, which is unlikely to give the RBI room to cut rates at its October meeting.

Expectations of a bumper crop will likely drive down food inflation going forward, which could further help ease the overall retail inflation for the rest of the year, said Rusmik Oza, head of fundamental research at Kotak Securities.

Meanwhile, the Nifty Smallcap 100 hit a more than six-month high, rising 0.64%, while the Nifty Midcap 50 index gained 0.35%.

The (SEBI's norms) for small- and mid-caps has created a sort of feel-good factor in the markets, Oza said, referring to the regulator's direction that multi-cap funds must invest at least 25% each in large-cap, mid-cap and small-cap stocks.

Among other sectors and shares, the Nifty Bank index rose 0.33%. ICICI Bank Ltd, which climbed as much as 2.1%, and HDFC Bank Ltd, up as much as 1.3%, were among the top boosts to the Nifty 50.

The Nifty Pharma Index jumped 3.04%.

Reliance Industries Ltd was among the biggest drags on the Nifty, falling as much as 0.4%, after hitting a record high on Monday.

In broader Asian markets, shares rose on positive industrial data from China and optimism around COVID-19 vaccines, with eyes on the U.S. Federal Reserve's two-day policy meeting that starts later in the day.

(Reporting by Anuron Kumar Mitra in Bengaluru; editing by Uttaresh.V)

Stocks mentioned in the article
ChangeLast1st jan.
HDFC BANK LIMITED -1.61% 1030.4 End-of-day quote.-19.00%
ICICI BANK LIMITED -4.59% 335.7 Delayed Quote.-34.71%
NIFTY 50 -2.93% 10805.55 Delayed Quote.-8.52%
NIFTY BANK 0.19% 20456.85 Delayed Quote.-34.15%
RELIANCE INDUSTRIES LTD -2.22% 2181.2 Delayed Quote.48.74%
SENSEX 30 -2.96% 36553.6 Real-time Quote.-8.69%
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Financials
Sales 2021 5 306 B 71 797 M 71 797 M
Net income 2021 421 B 5 698 M 5 698 M
Net Debt 2021 1 020 B 13 799 M 13 799 M
P/E ratio 2021 33,7x
Yield 2021 0,30%
Capitalization 13 849 B 187 B 187 B
EV / Sales 2021 2,80x
EV / Sales 2022 2,13x
Nbr of Employees 195 618
Free-Float 50,9%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 2 187,68 INR
Last Close Price 2 181,20 INR
Spread / Highest target 14,6%
Spread / Average Target 0,30%
Spread / Lowest Target -39,5%
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
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1st jan.Capitalization (M$)
RELIANCE INDUSTRIES LTD48.74%192 532
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CHINA PETROLEUM & CHEMICAL CORPORATION-34.12%65 411
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NESTE OYJ55.19%43 182
PTT-26.14%30 318