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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Indian shares fall as financial stocks, Reliance Industries weigh

06/18/2021 | 01:48am EDT

BENGALURU, June 18 (Reuters) - Indian shares were weighed down on Friday by losses in financials stocks and Reliance Industries, while investors assessed the impact of the U.S. Federal Reserve's hawkish turn earlier this week.

The blue-chip NSE Nifty 50 index fell 0.77% to 15,571.30 and the benchmark S&P BSE Sensex lost 0.67% to 51,972.41 by 0500 GMT.

The Nifty 50 and Sensex are set for their first weekly fall in five, after shedding 0.68% and 0.29%, respectively, as of Thursday's close. The U.S. Federal Reserve's indication that it would raise interest rates sooner than expected has weighed on the markets.

"Most of the positives (easing of COVID-19 restrictions due to fall in daily infections) are already factored in by the market. It still looks to be a buy-on-dips kind of market. So, at lower levels, we might see some buying coming in and that could give a support to the market," said Gaurav Garg, head of Research at CapitalVia Global Research.

ICICI Bank Ltd, State Bank of India and Reliance Industries Ltd were among the top drags on the Nifty 50, losing between 0.6% and 2.1%. Shares of Reliance have gained in the last five trading sessions out of eight.

Countering some of these losses were software services firms Infosys Ltd and Tata Consultancy Services Ltd , rising 0.6% and 0.2%, respectively.

The Nifty IT index was up 0.14%. For the week so far, including Friday's gain, it is up 1.5%.

Adani Ports and Special Economic Zone Ltd was also among the top boosts on the Nifty 50, gaining 1.4% after eight straight sessions of losses. The stock is headed for its worst ever weekly fall even after the company this week rejected a media report that said accounts of three foreign investor funds that own the Group's stocks were frozen. (Reporting by Rama Venkat in Bengaluru; editing by Uttaresh.V)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ADANI PORTS & SPECIAL ECONOMIC ZONE LIMITED 0.69% 685 Delayed Quote.40.58%
ICICI BANK LIMITED -0.18% 675.4 Delayed Quote.26.46%
INFOSYS LIMITED 1.22% 1609.9 Delayed Quote.26.65%
RELIANCE INDUSTRIES LTD -0.13% 2102.95 Delayed Quote.6.06%
STATE BK OF INDIA -0.87% 425 Delayed Quote.55.99%
TATA CONSULTANCY SERVICES LTD. 0.26% 3221.5 Delayed Quote.12.23%
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Financials
Sales 2022 6 262 B 84 069 M 84 069 M
Net income 2022 579 B 7 770 M 7 770 M
Net cash 2022 340 B 4 564 M 4 564 M
P/E ratio 2022 24,2x
Yield 2022 0,38%
Capitalization 13 375 B 180 B 180 B
EV / Sales 2022 2,08x
EV / Sales 2023 1,72x
Nbr of Employees 236 334
Free-Float 53,5%
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Reliance Industries Ltd Technical Analysis Chart | RELIANCE | INE002A01018 | MarketScreener
Technical analysis trends RELIANCE INDUSTRIES LTD
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 31
Last Close Price 2 105,70 INR
Average target price 2 229,31 INR
Spread / Average Target 5,87%
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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