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

RELIANCE INDUSTRIES LTD

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Reliance Industries : India unlikely to revoke PUBG ban despite Tencent licence withdrawal - source

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09/25/2020 | 02:20pm EDT

NEW DELHI/SEOUL Sept 25 (Reuters) - India is unlikely to revoke a ban on PlayerUnknown's Battlegrounds (PUBG) following PUBG Corp's decision to withdraw the mobile game's publishing rights in the country from China's Tencent, a senior government official said on Friday.

PUBG, a popular online multiplayer battle game, was among 118 Chinese-origin mobile applications banned by New Delhi earlier this month.

That led PUBG Corp, the unit of a South Korean firm behind the game, to announce it would no longer give Tencent Games the rights to publish the game in India. It also said it was exploring ways to provide gaming experiences to Indian users in future.

The new ownership structure is, however, unlikely to change things immediately, said the source, declining to be named as he was not authorised to speak to the media.

"The violent nature of the game has been the cause of many complaints from all quarters," the source said. "That does not change with the change in ownership rights."

A spokeswoman for PUBG Corp in South Korea said the company was closely reviewing India's concerns and that it was ready to work on anything that needed improvement.

The company has also been in talks with Jio Platforms, the digital unit of Indian conglomerate Reliance Industries , to bring the game back in its biggest market by users.

"We had initial talks with Jio Platforms to seek for cooperation opportunities, but nothing has been decided yet," the PUBG spokeswoman told Reuters.

Reliance did not respond to a request for comment.

While officially New Delhi says it has banned the apps because they collect user data and pose a threat to national security, the move is widely seen as a way to pressure Chinese tech companies following a months-long standoff between India and China along a disputed Himalayan border. (Reporting by Sankalp Phartiyal and Heekyong Yang; Editing by Euan Rocha and Mark Potter)


Stocks mentioned in the article
ChangeLast1st jan.
RELIANCE INDUSTRIES LTD 0.29% 2113.05 Delayed Quote.40.89%
TENCENT HOLDINGS LIMITED -0.35% 561.5 End-of-day quote.49.49%
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Financials
Sales 2021 5 353 B 72 496 M 72 496 M
Net income 2021 414 B 5 604 M 5 604 M
Net Debt 2021 957 B 12 958 M 12 958 M
P/E ratio 2021 33,0x
Yield 2021 0,31%
Capitalization 13 416 B 182 B 182 B
EV / Sales 2021 2,69x
EV / Sales 2022 2,02x
Nbr of Employees 195 618
Free-Float 50,9%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 2 183,57 INR
Last Close Price 2 113,05 INR
Spread / Highest target 18,3%
Spread / Average Target 3,34%
Spread / Lowest Target -37,5%
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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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