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    2222   SA14TG012N13

SAUDI ARABIAN OIL COMPANY

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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Indian shares close at record high as metals rally, Reliance jumps

08/16/2021 | 06:37am EDT
FILE PHOTO: A man walks past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU (Reuters) - Indian shares extended their record-high closing streak to a third day on Monday, driven by a Tata Steel-led rally in metal stocks, and as Reliance Industries rose after a report said it was in advanced talks to sell stake in the company.

The blue-chip NSE Nifty 50 index ended up 0.21% at 16,563.05 and the benchmark S&P BSE Sensex rose 0.26% to 55,582.58.

Shares of Reliance rose 1.3% after Bloomberg News reported Saudi Aramco was in advanced talks to acquire a 20% stake in the Indian conglomerate's oil refining and chemicals business for about $20 billion to $25 billion in Aramco's shares.

The Nifty energy index settled up 0.55% during the session.

The Nifty Metal index ended 1.5% higher, led by Tata Steel that hit a record high of 1534.5 rupees.

The steelmaker last week reported a consolidated net profit of 97.68 billion rupees ($1.32 billion) in the June quarter, compared with a loss of 46.48 billion rupees a year earlier. Brokerages also raised their target prices on the company's expectations for better realisations in both India and Europe.

Hindustan Zinc, which ended up 3.1%, and Vedanta, which rose 2.4%, were the other top gainers in the sector.

"Metal has seen a lot of action the past few weeks, and there are a lot of triggers for that, the most important of them being a demand revival across the board, whether it is raw material or real estate," said Gaurav Garg, head of research at CapitalVia Global Research.

Global shares slid on Monday after a raft of Chinese economic indicators showed a sharp slowdown in the engine of global growth

($1 = 74.2660 Indian rupees)

(Reporting by Vishwadha Chander in Bengaluru; editing by Vinay Dwivedi)

By Vishwadha Chander


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HINDUSTAN ZINC LIMITED 0.17% 323.9 End-of-day quote.35.58%
MINDTREE LIMITED -1.19% 4528.3 Delayed Quote.175.94%
OIL AND NATURAL GAS CORPORATION LIMITED -3.86% 151.8 Delayed Quote.69.69%
RELIANCE INDUSTRIES LTD -0.54% 2614.85 Delayed Quote.32.34%
SAUDI ARABIAN OIL COMPANY 0.80% 37.7 End-of-day quote.7.71%
TATA STEEL LIMITED -1.49% 1325.15 End-of-day quote.105.91%
VEDANTA LIMITED -3.54% 303.45 Delayed Quote.95.38%
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Financials
Sales 2021 1 375 B 367 B 367 B
Net income 2021 370 B 98 695 M 98 695 M
Net Debt 2021 233 B 62 093 M 62 093 M
P/E ratio 2021 20,3x
Yield 2021 3,75%
Capitalization 7 536 B 2 009 B 2 009 B
EV / Sales 2021 5,65x
EV / Sales 2022 5,12x
Nbr of Employees 79 000
Free-Float 1,76%
Chart SAUDI ARABIAN OIL COMPANY
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Saudi Arabian Oil Company Technical Analysis Chart | MarketScreener
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Technical analysis trends SAUDI ARABIAN OIL COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Last Close Price 37,70 SAR
Average target price 35,61 SAR
Spread / Average Target -5,54%
EPS Revisions
Managers and Directors
Amin bin Hasan Al-Nasser President, CEO & Executive Director
Khalid Hashim Al-Dabbagh Director, SVP-Finance, Strategy & Development
Yasir bin Othman Al-Rumayyan Chairman
Ahmad Abdul Rahman Al-Sa'adi Senior Vice President-Technical Services
Ziad Thamer Al-Murshed Vice President-International Operations
Sector and Competitors
1st jan.Capi. (M$)
SAUDI ARABIAN OIL COMPANY7.71%2 009 060
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PUBLIC JOINT STOCK COMPANY GAZPROM71.44%123 960
EQUINOR ASA60.64%90 578