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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
Delayed Quote. Delayed NSE India Stock Exchange - 05/12 07:16:20 am
1913.15 INR   -1.03%
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Indian shares weighed down by Reliance, virus worries

05/03/2021 | 01:32am EDT

BENGALURU, May 3 (Reuters) - Indian shares fell on Monday as conglomerate Reliance Industries slid after missing quarterly profit estimates, and as investors weighed growing calls to curb economic activity to check a relentless surge in COVID-19 infections.

The NSE Nifty 50 index declined 0.53% to 14,553.4 by 0508 GMT, while the benchmark S&P BSE Sensex dropped 0.66% to 48,460.4, after shedding more than 1% each in early trading.

India reported more than 300,000 new coronavirus cases for a twelfth straight day, taking its overall caseload to just shy of 20 million.

A leading industry body on Sunday urged authorities to take the "strongest national steps" and to curtail economic activity to save lives, while the Indian Express newspaper reported the country's COVID-19 taskforce had advised the federal government to impose a national lockdown.

"There may be a knee-jerk reaction in markets if any drastic measure is announced, but we have experienced harsh lockdowns before, so industries will be better placed and there may not be as big an impact in the medium term," said Nirali Shah, head of equity research at Samco Securities.

Prime Minister Narendra Modi's government is reluctant to impose a national lockdown on concerns about its economic impact, although several states have announced restrictions.

Reliance, the country's largest company by market value, fell as much as 2.6% after reporting quarterly profit that missed expectations as costs climbed.

The Nifty Bank index was the worst performer, dropping 2.3%, led by leading private-sector lenders HDFC Bank and ICICI Bank.

Yes Bank slumped 11.7% after reporting a loss for the March quarter due to higher provisions.

Larger rival IndusInd Bank advanced 3.5% after posting a jump in profit, while SBI Life Insurance, which will report its results later in the day, climbed 3%, plugging losses on the Nifty.

Kotak Mahindra Bank was down 1% ahead of its results. (Reporting by Chris Thomas in Bengaluru; Editing by Vinay Dwivedi and Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HDFC BANK LIMITED -1.15% 1403.55 End-of-day quote.-2.28%
ICICI BANK LIMITED -2.48% 594.75 Delayed Quote.13.98%
INDUSIND BANK LIMITED 0.40% 949.05 End-of-day quote.6.05%
KOTAK MAHINDRA BANK LIMITED -3.00% 1755.85 End-of-day quote.-12.01%
RELIANCE INDUSTRIES LTD -1.03% 1913.15 Delayed Quote.-2.63%
SBI LIFE INSURANCE COMPANY LIMITED -0.34% 1000.85 End-of-day quote.10.68%
YES BANK LIMITED 0.38% 13.15 End-of-day quote.-13.45%
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More news
Financials
Sales 2021 5 050 B 68 716 M 68 716 M
Net income 2021 472 B 6 416 M 6 416 M
Net Debt 2021 243 B 3 312 M 3 312 M
P/E ratio 2021 26,9x
Yield 2021 0,37%
Capitalization 12 147 B 165 B 165 B
EV / Sales 2021 2,45x
EV / Sales 2022 1,81x
Nbr of Employees 195 618
Free-Float 50,4%
Chart RELIANCE INDUSTRIES LTD
Duration : Period :
Reliance Industries Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 2 261,68 INR
Last Close Price 1 913,15 INR
Spread / Highest target 124%
Spread / Average Target 18,2%
Spread / Lowest Target -29,4%
EPS Revisions
Managers and Directors
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
Sector and Competitors
1st jan.Capitalization (M$)
RELIANCE INDUSTRIES LTD-2.63%167 221
EXXON MOBIL CORPORATION46.99%256 510
CHEVRON CORPORATION26.35%205 724
BP PLC19.54%87 240
CHINA PETROLEUM & CHEMICAL CORPORATION18.44%79 641
NESTE OYJ-17.07%45 846