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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed Quote. Delayed NSE India Stock Exchange - 05/16 07:14:09 am
2427.2 INR   +0.02%
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Indian shares suffer worst week since late Nov, Reliance results in focus

01/21/2022 | 05:53am EDT
People walk past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU, Jan 21 (Reuters) - Indian shares on Friday logged their biggest weekly drop since late November as losses in technology and financial stocks outweighed the boost from consumer goods giant Hindustan Unilever's positive earnings.

The blue-chip NSE Nifty 50 index fell 0.79% to 17,617.15 and the S&P BSE Sensex dropped 0.72% to 59,037.18. The indexes had earlier declined as much as 1.5% to their lowest since early-January.

They posted a weekly loss of about 3.5% each, having fallen for four straight sessions on heavy selling from foreign investors.

Asian and European peers, as well as U.S. stock futures, were weaker as concerns over inflation and the Federal Reserve's policy tightening weighed on sentiment.

However, Saurabh Mukherjea, founder of Marcellus Investment Managers, said the drop was not unusual amid economic recovery and that he was not too concerned about the correction.

"We are getting strong economic recovery globally, and naturally that is fueling inflation, also because COVID-19 has created supply side disruptions. That will invariably lead to rate hikes, which signals that the first one-third of an economic recovery is behind us."

The Nifty IT index lost 1.7% on Friday, its fifth straight session of losses, to post a weekly decline of 7.1%. The drop this week was its biggest since March 2020.

Bajaj Finserv, a holding company for financial services businesses, slid 5.4% and was the biggest decliner on the Nifty 50. It had ended lower on Thursday after posting a decline in quarterly profit.

Shares of Hindustan Unilever rose 2.8% after the consumer goods giant logged a rise in quarterly profit and its margins beat analyst estimates.

Automakers Maruti Suzuki India and Bajaj Auto gained 1.9% and 3.4%, respectively.

Reliance Industries closed flat ahead of its quarterly results. (Reporting by Chris Thomas in Bengaluru; additional reporting by Gaurav Dogra; editing by Aditya Soni)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BAJAJ AUTO LIMITED 2.02% 3715.85 End-of-day quote.14.36%
BAJAJ FINSERV LIMITED 0.37% 12655.25 Delayed Quote.-23.15%
HDFC LIFE INSURANCE COMPANY LIMITED -0.08% 549.85 End-of-day quote.-15.25%
HINDUSTAN UNILEVER LIMITED 1.05% 2217.45 End-of-day quote.-6.03%
INFOSYS LIMITED -1.02% 1489.1 Delayed Quote.-20.31%
JSW STEEL LIMITED 0.31% 601.7 End-of-day quote.-8.26%
MARUTI SUZUKI INDIA LTD 2.05% 7247.6 Delayed Quote.-4.37%
NIFTY 50 0.38% 15842.3 Delayed Quote.-9.06%
NIFTY 500 0.74% 13571.2 Delayed Quote.-10.17%
NIFTY BANK -1.23% 33597.6 Delayed Quote.-6.65%
NIFTY IT -0.44% 29403.5 Delayed Quote.-23.45%
RELIANCE INDUSTRIES LTD 0.02% 2427.2 Delayed Quote.2.47%
SBI LIFE INSURANCE COMPANY LIMITED 0.23% 1046.15 End-of-day quote.-12.55%
SENSEX 30 0.34% 52973.84 Real-time Quote.-9.37%
SHOPPERS STOP LIMITED 2.38% 480.85 End-of-day quote.45.32%
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Financials
Sales 2022 7 033 B 90 351 M 90 351 M
Net income 2022 609 B 7 823 M 7 823 M
Net Debt 2022 1 387 B 17 823 M 17 823 M
P/E ratio 2022 26,5x
Yield 2022 0,34%
Capitalization 16 420 B 211 B 211 B
EV / Sales 2022 2,53x
EV / Sales 2023 2,02x
Nbr of Employees 236 334
Free-Float 50,3%
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Mean consensus OUTPERFORM
Number of Analysts 33
Last Close Price 2 427,20 INR
Average target price 2 812,73 INR
Spread / Average Target 15,9%
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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
Dipak Chand Jain Independent Non-Executive Director
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