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

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Sensex, Nifty slide for fifth session as Airtel, TCS drag

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09/23/2020 | 07:34am EDT
A bird flies past the Bombay Stock Exchange building in Mumbai

Indian shares fell on Wednesday for a fifth straight session as surging coronavirus cases fuelled investor concerns, with Bharti Airtel driving losses after rival Jio stepped up competition with new postpaid plans, while Tata Consultancy Services slid over 2%.

The broader NSE Nifty 50 index slipped 0.2% to 11,131.85 and the S&P BSE Sensex fell 0.17% to 37,668.42. Both the indexes have shed more than 3% so far this week.

Shares of telecom operator Bharti Airtel Ltd fell as much as 10% to their lowest since April 3, after rival Jio, the telecom unit of Reliance Industries, rolled out new postpaid plans on Tuesday bundled with video-streaming services.

TCS fell as much as 4.5% after, Shapoorji Pallonji (SP) group, the largest minority shareholder in Tata Group, said on Tuesday it wanted to separate interests from the autos-to-steel conglomerate.

"Tatas have to make some back to back arrangements for raising money if they are parting ways with Shapoorji Pallonji and investors may be asked to contribute directly or indirectly," said Deepak Jasani, head of research, HDFC Securities.

Meanwhile, India's coronavirus infections surged again on Wednesday. Britain re-imposed some lockdown measures as a second wave of coronavirus infections sweeps across Europe, while the death toll in the United States crossed 200,000.

"As the fresh covid cases are rising day by day ... it is increasing tension among retailers as well as big players in the market," said Rahul Sharma, head of research, Equity99 Advisors in Mumbai.

Both the benchmark indexes had earlier risen nearly 1%, boosted mainly by Reliance that rose as much as 3%, after it said U.S. private equity firm KKR would invest 55.50 billion rupees ($755.09 million) in the conglomerate's retail arm.

By Sethuraman N R


Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED -3.82% 433.6 End-of-day quote.-4.87%
KKR & CO. INC. -1.84% 34.15 Delayed Quote.17.07%
NIFTY 50 -0.24% 11642.4 Delayed Quote.-2.29%
RELIANCE INDUSTRIES LTD 1.36% 2054.5 Delayed Quote.35.15%
SENSEX 30 -0.34% 39614.07 Real-time Quote.-3.97%
SP GROUP A/S 7.93% 245 Delayed Quote.-6.20%
TATA CONSULTANCY SERVICES 1.22% 2664.85 Delayed Quote.21.79%
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Financials
Sales 2021 5 334 B 71 560 M 71 560 M
Net income 2021 413 B 5 543 M 5 543 M
Net Debt 2021 870 B 11 672 M 11 672 M
P/E ratio 2021 32,1x
Yield 2021 0,32%
Capitalization 13 044 B 175 B 175 B
EV / Sales 2021 2,61x
EV / Sales 2022 1,95x
Nbr of Employees 195 618
Free-Float 50,9%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 2 188,14 INR
Last Close Price 2 054,50 INR
Spread / Highest target 21,7%
Spread / Average Target 6,50%
Spread / Lowest Target -35,8%
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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