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

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Indian shares rise as Reliance hits record high

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09/10/2020 | 01:25am EDT

BENGALURU, Sept 10 (Reuters) - Indian shares rose on Thursday, boosted by a jump in Reliance Industries Ltd after reports of more potential investments in its retail arm, while a halt in selling on Wall Street sent stock markets across Asia higher.

The blue-chip NSE Nifty 50 index rose 0.73% to 11,360.55, while the benchmark S&P BSE Sensex was up 0.82% to 38,508.29 by 0456 GMT.

India's most valuable company Reliance rose as much as 2.7% to hit a record high, a day after it secured $1 billion in investment in its retail business from private equity firm Silver Lake. Middle East sovereign firms are also in talks to buy stakes in the retail arm, according to the reports on Thursday.

"Reliance has gained expertise in the investment process through their fund raising in (their Jio Platforms digital business) and now they are repeating it in retail...some more upside may be there in the near term," said Deepak Jasani, head of research at HDFC Securities in Mumbai.

Reliance, whose primary business is oil, also helped the Nifty energy index rise 1.73%.

The Nifty bank index rose 0.77%, with IndusInd Bank rising as much as 3.8% to be among the top percentage gainers on the Nifty 50.

India's top court is set to continue hearing a case on loans under a moratorium later today, with banks fighting for interest not to be waived.

Telecom infrastructure company Bharti Infratel Ltd and agricultural solutions provider UPL Ltd were among the top laggards on the Nifty, falling as much as 1.9% and 1.5% respectively. (Reporting by Anuron Kumar Mitra in Bengaluru; editing by Patrick Graham)

Stocks mentioned in the article
ChangeLast1st jan.
BHARTI INFRATEL LIMITED 1.29% 169.1 Delayed Quote.-33.88%
INDUSIND BANK LIMITED -7.10% 490.2 End-of-day quote.-67.55%
NIFTY 50 -2.93% 10805.55 Delayed Quote.-8.52%
RELIANCE INDUSTRIES LTD -2.22% 2181.2 Delayed Quote.48.74%
SENSEX 30 -2.96% 36553.6 Real-time Quote.-11.39%
UPL LIMITED -5.13% 505.2 End-of-day quote.-13.57%
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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
Short TermMid-TermLong Term
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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