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

RELIANCE INDUSTRIES LTD

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Reliance says India will fully shift to renewable energy in next few decades

10/19/2020 | 10:59am EST
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, arrives to address the company's annual general meeting in Mumbai

NEW DELHI (Reuters) - India will fully move away from fossil fuels to renewable energy in the next few decades, the chairman of Reliance Industries, operator of the world's biggest refining complex, said on Monday.

Reliance, which operates two giant refineries with a combined capacity of 1.4 million barrels per day in western India, aims to become a net zero carbon company by 2035.

"India is in the right mindset to completely, in the next few decades, move away from fossil fuels to renewable energy. Be Atmanirbhar (self dependent)," Mukesh Ambani said at a book launch event on Monday.

India, the world's third biggest oil importer and consumer, ships in about 80% of its oil needs.

Reliance Group, which works across the oil, telecom and retail sectors, aims to build up a mix of clean and affordable energy with hydrogen, wind, solar, fuel cells and battery power, Ambani told shareholders earlier this year.

(Reporting by Nidhi Verma; Editing by Jan Harvey)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL 1.44% 47.9 Delayed Quote.-27.74%
RELIANCE INDUSTRIES LTD 0.17% 1958.15 Delayed Quote.30.35%
WTI 1.78% 44.93 Delayed Quote.-26.33%
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Financials
Sales 2021 5 243 B 71 039 M 71 039 M
Net income 2021 443 B 6 004 M 6 004 M
Net Debt 2021 398 B 5 393 M 5 393 M
P/E ratio 2021 29,4x
Yield 2021 0,34%
Capitalization 12 433 B 169 B 168 B
EV / Sales 2021 2,45x
EV / Sales 2022 1,83x
Nbr of Employees 195 618
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 2 193,85 INR
Last Close Price 1 958,15 INR
Spread / Highest target 27,7%
Spread / Average Target 12,0%
Spread / Lowest Target -32,6%
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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