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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed Quote. Delayed NSE India Stock Exchange - 10/26 07:25:22 am
2661.05 INR   +2.28%
10:30aIndia targets major global firms for local battery manufacturing - sources
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Indian shares fall as Reliance slides; retail inflation in focus

09/13/2021 | 01:25am EDT

BENGALURU, Sept 13 (Reuters) - Indian shares fell on Monday, dragged by heavyweight Reliance Industries after the conglomerate delayed the launch of a low-cost smartphone it is developing with Google, with investors awaiting key inflation data due later in the day.

The blue-chip NSE Nifty 50 index was down 0.38% at 17,302.25 by 0450 GMT, while the benchmark S&P BSE Sensex slipped 0.43% to 58,055.41.

Indian equities have remained muted over the last few sessions and posted a weekly gain of roughly 0.3% in the previous week. The main indexes had hit multiple record highs earlier in September.

"In the absence of major events after the inflation data, we may continue to see some correction or a subdued move in the local market this week... this is not unhealthy given the moves in August and early-September," said Ajit Mishra, vice president of research at Religare Broking.

Billionaire Mukesh Ambani-owned Reliance Industries drove losses on the benchmark, falling over 2% after its "ultra-affordable" smartphone — developed jointly by Reliance's telecom arm and Google — was delayed to November.

The launch was highly anticipated given that it could combine with the company's other offerings, and the delay has "certainly impacted sentiment", Mishra added.

Energy stocks fell 1% to lead losses among sub-sectors.

Private-sector lenders ICICI Bank and HDFC Life Insurance Co were among the top losers on the Nifty 50 index.

Suryoday Small Finance Bank jumped as much as 7.8% after a report said lender Clix Capital Services was in merger talks with the bank.

However, Nifty's IT and metal sub-indexes inched higher, adding 0.57% and 0.34% respectively.

Budget airline SpiceJet rose 0.4% after saying it has settled with another lessor of Boeing Co's MAX aircraft.

Investors now eye retail inflation data, with a Reuters poll of analysts projecting that the reading held steady in August and stayed within the central bank's comfort zone.

(Reporting by Soumyajit Saha in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HDFC LIFE INSURANCE COMPANY LIMITED 1.02% 690.15 End-of-day quote.2.05%
ICICI BANK LIMITED -1.46% 829.4 Delayed Quote.57.31%
RELIANCE INDUSTRIES LTD 2.28% 2661.05 Delayed Quote.31.05%
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Analyst Recommendations on RELIANCE INDUSTRIES LTD
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Financials
Sales 2022 6 814 B 90 895 M 90 895 M
Net income 2022 575 B 7 673 M 7 673 M
Net Debt 2022 301 B 4 009 M 4 009 M
P/E ratio 2022 30,3x
Yield 2022 0,30%
Capitalization 16 643 B 222 B 222 B
EV / Sales 2022 2,49x
EV / Sales 2023 2,10x
Nbr of Employees 236 334
Free-Float 50,4%
Chart RELIANCE INDUSTRIES LTD
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Reliance Industries Ltd Technical Analysis Chart | RELIANCE | INE002A01018 | MarketScreener
Technical analysis trends RELIANCE INDUSTRIES LTD
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 32
Last Close Price 2 661,05 INR
Average target price 2 608,80 INR
Spread / Average Target -1,96%
EPS Revisions
Managers and Directors
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
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