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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
  Report
Delayed NSE India Stock Exchange  -  07:27 2022-09-30 am EDT
2377.75 INR   +2.26%
08:20aExclusive-India's Reliance Jio to launch 4G enabled low-cost laptop at $184 -sources
RE
09/29India's Reliance launches first in-house premium fashion store
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09/28Reliance Retail Launches Fashion and Lifestyle Chain Reliance Centro
MT
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Tech, energy stocks propel Indian shares to over six-week high

07/20/2022 | 06:52am EDT

BENGALURU, July 20 (Reuters) - Indian shares ended at a more than six-week high on Wednesday, led by strong gains in technology firms and as oil producers climbed after the government slashed windfall taxes on local crude sales and fuel exports.

The NSE Nifty 50 index ended 1.1% higher at 16,520.85, while the S&P BSE Sensex rose 1.15% to 55,397.53, with both indexes posting their fourth straight session of gains.

The mood was also upbeat in broader markets as the expected resumption of Russian gas supply to Europe allayed fears of a recession.

In Mumbai, shares of oil producers jumped after India cut a windfall tax on oil producers and refiners and exempted gasoline from an export levy, less than a month after it imposed the two charges.

"The decline in windfall tax would mean better and more sustainable margins for explorers and refiners ... This move would also help get back investor confidence in these stocks," said Rohit Khatri, assistant vice president of fundamental research at Religare Broking.

Reliance Industries jumped 2.7%, while Oil and Natural Gas Corp, Vedanta Ltd and Oil India Ltd gained between 3.6% and 6.1%.

The Nifty energy index gained 0.9%, while the beaten-down Nifty IT index surged 2.9%. The IT index has declined about 27% so far this year as investors dumped growth stocks in favour of value stocks due to the high interest-rate environment.

Nifty 50 components Wipro and IndusInd Bank ended higher ahead of their June-quarter earnings reports.

Meanwhile, the Indian rupee fell to a record closing low of 79.99 against the dollar. (Reporting by Chris Thomas in Bengaluru; Editing by Maju Samuel)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / INDIAN RUPEE (AUD/INR) 0.00% 52.17694 Delayed Quote.-1.98%
BRITISH POUND / US DOLLAR (GBP/USD) 0.00% 1.116 Delayed Quote.-17.43%
CANADIAN DOLLAR / INDIAN RUPEE (CAD/INR) 0.02% 58.932 Delayed Quote.1.09%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.7227 Delayed Quote.-7.61%
EURO (B) VS INDIAN RUPEE SPOT (EUR/INR) -0.19% 79.8779 Delayed Quote.-5.80%
EURO / US DOLLAR (EUR/USD) 0.01% 0.9801 Delayed Quote.-13.80%
INDIAN RUPEE / US DOLLAR (INR/USD) -0.04% 0.01227 Delayed Quote.-8.60%
INDUSIND BANK LIMITED 3.78% 1186.3 End-of-day quote.33.65%
LONDON BRENT OIL -3.84% 85.29 Delayed Quote.13.53%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.00% 0.5594 Delayed Quote.-16.03%
NIFTY 50 1.64% 17094.35 Delayed Quote.-1.50%
NIFTY IT 0.60% 26981.15 Delayed Quote.-30.28%
OIL AND NATURAL GAS CORPORATION LIMITED 0.12% 126.8 Delayed Quote.-10.96%
PROPEL HOLDINGS INC. -0.28% 7 Delayed Quote.-48.64%
RELIANCE INDUSTRIES LTD 2.26% 2377.75 Delayed Quote.0.41%
SENSEX BSE30 1.80% 57426.92 Real-time Quote.-1.42%
US DOLLAR / INDIAN RUPEE (USD/INR) 0.00% 81.501 Delayed Quote.9.41%
VEDANTA LIMITED 4.01% 270.05 Delayed Quote.-20.85%
WIPRO LIMITED 0.22% 394.3 End-of-day quote.-44.87%
WTI -2.49% 79.673 Delayed Quote.5.74%
All news about RELIANCE INDUSTRIES LTD
08:20aExclusive-India's Reliance Jio to launch 4G enabled low-cost laptop at $184 -sources
RE
09/29India's Reliance launches first in-house premium fashion store
RE
09/28Reliance Retail Launches Fashion and Lifestyle Chain Reliance Centro
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09/26India ONGC gets better price for oil under new rules -sources
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09/26India's reliance industries made first purchase of west offshore…
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09/26EU Approves Abu Dhabi National Oil, Abu Dhabi Developmental, India's Reliance JV
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09/23Reliance New Energy Limited to invest in Caelux Corporation; A technology company worki..
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09/23Reliance New Energy Limited to invest in Caelux Corporation
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09/23Indian Benchmarks Drop Nearly 2%; Power Grid Corp. of India Slumps 8%
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09/22Reliance Industries Renewable Energy Arm to Acquire 20% Stake in US-based Caelux
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More news
Analyst Recommendations on RELIANCE INDUSTRIES LTD
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Financials
Sales 2023 9 139 B 112 B 112 B
Net income 2023 780 B 9 587 M 9 587 M
Net Debt 2023 1 375 B 16 898 M 16 898 M
P/E ratio 2023 20,5x
Yield 2023 0,42%
Capitalization 15 105 B 186 B 186 B
EV / Sales 2023 1,80x
EV / Sales 2024 1,74x
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
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 33
Last Close Price 2 377,75 INR
Average target price 2 893,42 INR
Spread / Average Target 21,7%
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
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