1. Homepage
  2. Equities
  3. India
  4. NSE India Stock Exchange
  5. Reliance Industries Ltd
  6. News
  7. Summary
    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
Delayed NSE India Stock Exchange  -  07:25 2022-08-12 am EDT
2633.00 INR   +1.62%
08/12Russia-backed Indian refiner Nayara Energy posts record profit
RE
08/12India New Issue-Reliance Retail Ventures to issue 3-month CP - traders
RE
08/11RELIANCE INDUSTRIES : PPT on AGM Notice 2022
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Rate, inflation worries set Indian shares for worst week since May 2020

06/17/2022 | 01:05am EDT

BENGALURU, June 17 (Reuters) - Indian shares slipped in volatile trade on Friday and were on course for their worst week in over two years, hit by worries that rapid increases in policy rates targeted at taming inflation could derail economic recovery.

The NSE Nifty 50 index slid 0.51% to 15,282.45, as of 0446 GMT, while the S&P BSE Sensex fell 0.38% to 51,300.96, with both indexes touching over one-year lows in their sixth straight session of losses.

The blue-chip indexes are set for losses of over 5% in the week that saw the U.S. Federal Reserve hike interest rates by 75 basis points and the Swiss National Bank deliver its first rate hike in 15 years. If losses hold, the Nifty and Sensex could suffer their worst week since May 2020.

"Investors remain concerned that central banks' commitment to bringing inflation down will seriously damage a fragile economic recovery," said Prashanth Tapse, vice president (Research) at Mehta Equities.

Tapse added that crude prices above the Indian central bank's assumptions for inflation projections and selling by foreign investors was creating uncertainty.

Foreign investors have withdrawn a net $3.64 billion out of Indian equities this month after selling a net $5.18 billion in May.

"The rising cost of capital will impact valuation multiples and have an adverse impact on economic growth and corporate earnings," said Gaurav Dua, head of capital market strategy at Sharekhan.

The Nifty IT index and the Nifty Pharma index , which track some companies that are exposed to the U.S. market, were among the worst performing sub-indexes on Friday, falling up to 2.5% each. The Nifty IT index is set for a weekly drop of around 8%.

Shares of India's largest company, Reliance Industries , climbed 1.9% after five days off losses, offering the biggest boost to the benchmark indexes.

Mild gains in metal stocks, on a rebound in metal prices, helped plug some losses in the market. (Reporting by Chris Thomas in Bengaluru; additional reporting by Gaurav Dogra; editing by Uttaresh.V and Shailesh Kuber)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / SWISS FRANC (AUD/CHF) -0.37% 0.66774 Delayed Quote.1.09%
BRITISH POUND / SWISS FRANC (GBP/CHF) -0.11% 1.14149 Delayed Quote.-7.51%
CANADIAN DOLLAR / SWISS FRANC (CAD/CHF) -0.11% 0.73603 Delayed Quote.2.04%
CHINESE YUAN RENMINBI / SWISS FRANC (CNY/CHF) -0.26% 0.139314 Delayed Quote.-2.78%
DANISH KRONE / SWISS FRANC (DKK/CHF) -0.05% 12.975 Delayed Quote.-6.66%
EURO / SWISS FRANC (EUR/CHF) -0.06% 0.96526 Delayed Quote.-6.90%
HONGKONG-DOLLAR / SWISS FRANC (HKD/CHF) 0.10% 12.023 Delayed Quote.2.47%
INDIAN RUPEE / SWISS FRANC (INR/CHF) 0.08% 0.011836 Delayed Quote.-3.54%
JAPANESE YEN / SWISS FRANC (JPY/CHF) 0.23% 0.7071 Delayed Quote.-11.19%
NEW ZEALAND DOLLAR / SWISS FRANC (NZD/CHF) -0.46% 0.60446 Delayed Quote.-2.82%
NIFTY 50 0.22% 17698.15 Delayed Quote.1.98%
NIFTY IT -1.15% 29885.9 Delayed Quote.-22.78%
RELIANCE INDUSTRIES LTD 1.62% 2633 Delayed Quote.11.18%
RUSSIAN ROUBLE / SWISS FRANC (RUB/CHF) 1.31% 0.015529 Delayed Quote.26.13%
SENSEX BSE30 0.22% 59462.78 Real-time Quote.2.08%
SINGAPORE-DOLLAR / SWISS FRANC (SGD/CHF) -0.10% 0.6861 Delayed Quote.1.36%
SWEDISH KRONA / SWISS FRANC (SEK/CHF) -0.46% 0.092168 Delayed Quote.-8.48%
US DOLLAR / SWISS FRANC (USD/CHF) 0.04% 0.94205 Delayed Quote.3.14%
All news about RELIANCE INDUSTRIES LTD
08/12Russia-backed Indian refiner Nayara Energy posts record profit
RE
08/12India New Issue-Reliance Retail Ventures to issue 3-month CP - traders
RE
08/11RELIANCE INDUSTRIES : PPT on AGM Notice 2022
PU
08/08India's Reliance Retail Ventures to issue 3-month CP - traders
RE
08/07Reliance Industries Limited Recommends Dividend for the Financial Year Ended March 31, ..
CI
08/05RELIANCE INDUSTRIES : Loss of share certificate
PU
08/04RELIANCE INDUSTRIES : Newspaper Clippings – “Final Reminder cum Forfeiture Not..
PU
08/04India's Reliance signs franchise deal with fashion house Balenciaga
RE
08/04RELIANCE INDUSTRIES : Brands Limited Embarks on a Collaborative Journey with Balenciaga
PU
08/01RELIANCE INDUSTRIES : Media Release - Jio Gets Ready to Roll-out the World's Most Advanced..
PU
More news
Analyst Recommendations on RELIANCE INDUSTRIES LTD
More recommendations
Financials
Sales 2023 8 651 B 109 B 109 B
Net income 2023 785 B 9 856 M 9 856 M
Net Debt 2023 774 B 9 720 M 9 720 M
P/E ratio 2023 22,5x
Yield 2023 0,38%
Capitalization 16 726 B 210 B 210 B
EV / Sales 2023 2,02x
EV / Sales 2024 1,88x
Nbr of Employees 342 982
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
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 34
Last Close Price 2 633,00 INR
Average target price 2 871,85 INR
Spread / Average Target 9,07%
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
Sector and Competitors
1st jan.Capi. (M$)
RELIANCE INDUSTRIES LTD11.18%210 065
EXXON MOBIL CORPORATION53.62%391 758
CHEVRON CORPORATION36.22%312 896
BP PLC30.27%98 423
CHINA PETROLEUM & CHEMICAL CORPORATION2.75%70 954
MARATHON PETROLEUM CORPORATION52.32%48 601