IndiaCatalog.com
India News
Search Web Directory
News Home
Reliance Industries hits new high, gains 10% in 3 weeks
Posted on 14th June 2018
Reliance Industries (RIL) hit a new high of Rs 1,011.70 up 1% on the BSE in noon deal, surpassing its previous high of Rs 1010.70 recorded on April 27, 2018 in intra-day trade.
In past three weeks, RIL has outperformed the market by surging 10% as compared to 4% rise in the S&P BSE Sensex.

Thus far in the financial year 2018-19 (FY19), the stock was up 14% against 8% surged in benchmark index. In entire FY18, RIL had rallied 34% against 11% gained in the benchmark index.

RIL’s consolidated annual revenues in FY18 grew significantly at 30.5% over FY17 to Rs 4,307 billion with a net profit of Rs 361 billion as against Rs 298 billion, an upside of 21% over the previous year.

“The healthy performance can primarily be attributed to a strong execution in the petrochemicals, refining and its flagship digital services business. The robust performance from the retail business has also contributed to the company’s sturdy achievement. The company’s petrochemical business has surpassed the refining business in terms of EBIT and EBIT margins supported by higher realization for the products along with improved volumes from the refinery off-gas cracker (ROGC) cracker,” analysts at KR Choksey Shares and Securities said in result update.

The brokerage firm believes that RIL has now neared the completion of its 3-lakh crore capital expenditure cycle and these investments will now begin to deliver by way of improved margins and boosted cash flows. The ROGC cracker has been fully stabilized in this quarter which will help to produce high value polymer derivatives from low-cost fossil fuels resulting in lower feed stock costs for the company. In addition, the petcoke gasification project complimented by the rise in the crude prices will further help to improve the company’s financial performance.

Nevertheless, with the telecom (Jio business) segment exhibiting a secured performance for the quarter, we expect the segments financials to improve further due to its growing popularity, increasing market share, highly competitive price tariffs and a strong operating leverage, it added. The brokerage firm recommends BUY rating on the stock with the target price of Rs 1,442/share based on SOTP methodology.

At 02:21 pm; RIL was trading 0.80% higher at Rs 1,010 on the BSE, as compared to 0.4% decline in the S&P BSE Sensex. A combined 3.97 million shares changed hands on the counter on the BSE and NSE so far.
Related Companies: Reliance Industries Limited (RIL)   

Other Latest News
HDFC puts out notice to auction family house of Sanjay Chandra
Posted on 17th October 2018
New Delhi: As their real estate empire crumbles, Chandras of Unitech may even lose their family home to lenders. Mortgage lender HDFC has put out notices to auction Sanjay Chandra’s house in the upmarket Hauz Khas area in South Delhi.

Unitech managing director Sanjay Chandra grew up in the Mayfair Garden house in Hauz Khas where his mother ran a clinic.


Paytm Money appoints Cyrus Khambata to its board
Posted on 17th October 2018
New Delhi: Paytm Money, the wealth management unit of One97 Communications Ltd., on Wednesday said it had appointed former executive director of Central Depository Services Ltd. (CSDL India) Cyrus Khambata to its board of directors.

Khambata, considered an industry veteran in capital markets, has previously served as the managing director of CDSL Ventures and CDSL Insurance Depository.


Tata Motors eyes tie-ups with Ola, Uber with new shared mobility platform
Posted on 17th October 2018
New Delhi: Tata Motors Ltd has created a separate division to explore ways to tap its entire range of passenger and commercial vehicles for offering shared mobility solutions, said two people aware of the development. Named Mobility Innovations Hub, the new department is headed by Pankaj Jhunja, formerly with Tata Technologies, said the people cited above, who did not want to be named.

Sensex jumps 267 points on strong earnings and global cues
Posted on 17th October 2018
The equity benchmark Sensex rallied for the fourth straight session Wednesday, and jumped 267 points, on encouraging second quarter earnings by tech major Infosys and positive global cues.

The 30- share Sensex soared 267.26 points, or 0.76 per cent, to 35,429.74. It had rallied 1,161 points in the previous three sessions.


RIL pips TCS again to become India’s most valued firm; Mukesh Ambani-led firm’s rise so far
Posted on 17th October 2018
Billionaire Mukesh Ambani-controlled Reliance Industries Ltd (RIL) on Tuesday pipped the information technology (IT) giant Tata Consultancy Services (TCS) to become the country’s most valued firm by market capitalisation. As per Tuesday’s close, Reliance Industries’ market capitalisation was recorded at Rs 7,37,576.57 crore on the Bombay Stock Exchange (BSE), up Rs 1,471.26 crore from that of Tata Consultancy’s market capitalisation of 7,36,105.31 crore on Tuesday, data available with the stock exchanged showed.

» 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 Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Reliance Industries hits new high, gains 10% in 3 weeks
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
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Reliance Industries hits new high, gains 10% in 3 weeks

Most Read News

IRCTC to offer 'vrat ka khana' during Navaratri

Rupee weakens 9 paise to 73.92 against US dollar in early trade

Microsoft pulls the plug on Minecraft for Apple TV

SBI Gen Insurance bets on cyber protection, eyes 30% jump in premium income

Ensono takes over Wipro’s hosted data services

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
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement