India News
Search Web Directory
 India News  
News Home
Reliance Industries extends gains, hits new high of Rs 845
Posted on 13th September 2017
Reliance Industries (RIL) hits a new high of Rs 845, up 2.6%, extending its Tuesday’s nearly 1% gain on BSE. The stock surpassed its previous high of Rs 832.70 touched on September 7, 2017 in intra-day trade.

RIL is the second best performer stocks from the 30 share index Sensex, gaining 56% so far in the calendar year 2017 (CY17), as against 21% rise in the benchmark index. Tata Steel has rallied 74% so far in CY17.

Since July 20, post April-June (Q1FY18) results, the stock have outperformed the market by gaining 10% as compared to 1% rise in Sensex. RIL had issued bonus shares in the ratio of 1:1 i.e one bonus equity share for every one equity share held in the company.

According to JP Morgan, July – September quarter (Q2) should be another strong quarter for RIL.

“While the headline product crack strength is positive we would highlight that given the multiple moving parts for RIL (hedging strategy, light-heavy spreads, crude sourcing), there may not be a one-to-one flow-through of the current strength into 2QFY18 results. Overall, we would expect 2QFY18 refining margins for RIL to be higher than 1Q reported margins of $11.9/bbl,” the foreign brokerage firm said in recent report.

“We do not see upside risk to our FY18 EBITDA estimate of Rs584bn as the upside from core refining segment offsets the lower earnings from new projects given the delays. RIL’s stock price has also benefited from expectations of a large cut in Interconnect charges, which we believe would benefit RIL’s telecom operations, RJIO,” added report.

Related Companies: Reliance Industries Limited (RIL)   

Other Latest News
HPCL may acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) in a cash and share- swap deal to become India's third-largest oil refiner, a top official said.

Oil and Natural Gas Corp (ONGC), India's biggest oil and gas producer, last week announced acquisition of HPCL for Rs 369.15 billion. After this takeover, ONGC has two refining subsidiaries - HPCL and MRPL.

Private sector lender Axis Bank’s net profit for the quarter ended December 2017 rose by 25 per cent to Rs 7.26 billion (Rs 726 crore) on robust growth in net interest income. This was against a net profit of Rs 5.79 billion (Rs 579 crore) in previous year’s corresponding quarter.

Net interest income rose by nine per cent to Rs 47.3 billion (Rs 4,730 crore) during the September–December quarter from Rs 43.34 billion (Rs 4,334 crore) in the same quarter a year ago.

Global brokerage firms Nomura and Macquarie cheered for the shares of HDFC Bank, after India’s leading private lender reported a record quarterly profit, an annual 20.11 per cent growth in net profit at Rs 4,642.60 crore, for the October- December quarter. At the same time, Macquarie has maintained a neutral rating on the shares of Kotak Mahindra Bank, after the bank reported a 28.23% rise on year in consolidated net profit at Rs 1,624.24 crore for the quarter ended December.

2018 Ford Figo Cross is now only a few days apart from an official unveil on 31 January, and this will be the first of kind car in Ford's lineup in India. The kind in question is a crossover between an SUV and a hatchback, so expect the Ford Fogo Cross to get SUV-like styling and dimensions of a hatchback. Unlike the Toyota Etios Cross, the Ford Figo Cross is an all-new product with some major changes to its exterior, interior and mechanics, in comparison to its hatchback version.

Shares of information technology (IT) companies were continue at their upward movement with the sector giant Tata Consultancy Services (TCS) hit a new high crossing Rs 3,000 mark on BSE.

Besides TCS, Persistent Systems, Mindtree, Take Solutions, Tata Elxsi, Zensar Technologies, NIIT Technologies, Tech Mahindra and MphasiS were up in the range of 1% to 6% on BSE on Monday.

» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Reliance Industries extends gains, hits new high of Rs 845
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Security Code*

Be the first person to write a business review for Reliance Industries extends gains, hits new high of Rs 845

Most Read News

Kotak Mahindra Bank consolidated Q3 net rises 28% to Rs 16.24 billion

Sensex ends at fresh closing high, posts biggest weekly jump in a year

Dear bitcoin fans, digital currency is still a dream

RIL net up 25% at Rs 9,423 crore

Microsoft tops Thomson Reuters top 100 global tech leaders list

More India News
  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
About us
Link to us
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory, India Free Classifieds
    © 1999 - 2018
    All Rights Reserved
Privacy Statement    
    © 1999 - 2018
    All Rights Reserved
Privacy Statement