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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed NSE India Stock Exchange  -  07:25 2022-08-12 am EDT
2633.00 INR   +1.62%
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Reliance Industries Shares Slump on Higher Gasoline and Diesel Export Tax

07/01/2022 | 02:35am EDT

By Justina Lee


Reliance Industries Ltd. shares suffered their biggest drop since late 2020 after the Indian government raised export taxes on gasoline and diesel.

Shares fell by as much as 8.7% to 2,369.45 rupees ($30.01) on Friday, after authorities raised export taxes on gasoline and aviation turbine fuel by INR6 a liter and increased the export tax on diesel by INR13 a liter.

Index heavyweight Reliance Industries, with a market capitalization of INR17.549 trillion, runs businesses spanning sectors such as retail, telecom and oil refining.

Shares were recently trading 5.2% lower at INR2,459.95, compared with the benchmark Sensex's 1.0% decline to 52502.71.

Other oil and gas companies also fell. Oil & Natural Gas Corp. slumped 9.8% to INR136.70 and Indian Oil Corp. dropped 1.0% to INR73.50.


Write to Justina Lee at justina.lee@wsj.com


(END) Dow Jones Newswires

07-01-22 0234ET

Stocks mentioned in the article
ChangeLast1st jan.
INDIAN OIL CORPORATION LIMITED 0.85% 71.55 Delayed Quote.-3.74%
LONDON BRENT OIL 0.66% 94.29 Delayed Quote.25.61%
RELIANCE INDUSTRIES LTD 1.62% 2633 Delayed Quote.11.18%
S&P GSCI NATURAL GAS INDEX 1.16% 412.726 Real-time Quote.134.42%
WTI 0.83% 88.904 Delayed Quote.21.92%
All news about RELIANCE INDUSTRIES LTD
08/12Russia-backed Indian refiner Nayara Energy posts record profit
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08/12India New Issue-Reliance Retail Ventures to issue 3-month CP - traders
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08/11RELIANCE INDUSTRIES : PPT on AGM Notice 2022
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08/08India's Reliance Retail Ventures to issue 3-month CP - traders
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08/07Reliance Industries Limited Recommends Dividend for the Financial Year Ended March 31, ..
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08/05RELIANCE INDUSTRIES : Loss of share certificate
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08/04RELIANCE INDUSTRIES : Newspaper Clippings – “Final Reminder cum Forfeiture Not..
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08/04India's Reliance signs franchise deal with fashion house Balenciaga
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08/04RELIANCE INDUSTRIES : Brands Limited Embarks on a Collaborative Journey with Balenciaga
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08/01RELIANCE INDUSTRIES : Media Release - Jio Gets Ready to Roll-out the World's Most Advanced..
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Analyst Recommendations on RELIANCE INDUSTRIES LTD
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Financials
Sales 2023 8 905 B 112 B 112 B
Net income 2023 783 B 9 844 M 9 844 M
Net Debt 2023 774 B 9 734 M 9 734 M
P/E ratio 2023 22,6x
Yield 2023 0,38%
Capitalization 16 726 B 210 B 210 B
EV / Sales 2023 1,97x
EV / Sales 2024 1,83x
Nbr of Employees 342 982
Free-Float 50,4%
Chart RELIANCE INDUSTRIES LTD
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Reliance Industries Ltd Technical Analysis Chart | MarketScreener
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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 2 872,44 INR
Spread / Average Target 9,09%
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