The company reported a 10.8% year-on-year dip in its consolidated net profit to Rs 16,011 crore owing to weak profitability seen in the O2C business
The overall trend of the stock has been sideways since the end of 2021. However, striking a new all-time high could spark the next rise in the stock.
The counter may struggle to cross Rs 2,800-mark, which appears to be the next hurdle, but the current momentum is not suggesting any weakness.
Most analysts expect RIL's capex to remain high in 2023-24 as well, by virtue of the roll-out of the 5G network and the continued expansion of its offline and online retail footprint
Six of the 10 most valued firms faced a combined erosion of Rs 70,486.95 crore in their market valuation last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit following a weak trend in equities. While Reliance Industries, TCS, HDFC Bank, ITC, State Bank of India and HDFC were the laggards from the top 10 pack, ICICI Bank, Hindustan Unilever, Infosys and Bharti Airtel were the gainers. Last week, the BSE Sensex declined 298.22 points or 0.48 per cent. "Markets took a breather last week and shed half a per cent amid mixed cues. The beginning was upbeat, however, profit-taking in heavyweights across sectors pushed the index lower in the following sessions," Ajit Mishra, VP - Technical Research at Religare Broking Ltd, said. Among major losers, the market valuation of Reliance Industries fell by Rs 27,941.49 crore to Rs 16,52,702.63 crore and that of TCS eroded by Rs 19,027.06 crore to Rs 11,78,854.88 crore. HDFC Bank's valuation declined by Rs
Stocks to watch today: Mankind Pharma has confirmed that the Income Tax Department conducted a search at some of the premises/ plants related to the Company and some of its subsidiaries
The company reported its highest-ever net profit during the quarter, due to a decline in raw material costs and big savings on tax expenses
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In the last few sessions, the stock of Mukesh Ambani-controlled Reliance Industries (RIL), hit its 52-week low level of Rs 2269.75, and has been one of the worst performers among the Sensex pack
Shares of Reliance Industries on Monday ended marginally lower, after the company reported a 15 per cent decline in net profit for the third quarter
After evaluating the RIL shares on all three time frames; short-term, medium-term and long-term, it appears to be positive as long as it shields the support of Rs 2,200 levels.
While Q3 performance beat Street estimates, O2C is key to sustaining growth this year
Following a strong close over the 200-DMA set at Rs 2,559, the chart structure of Reliance Industries reveals a "Double Bottom" breakout
Another key reason for the recent stock surge, according to analysts at Jefferies, is the hope that the government may withdraw export duties on diesel and aviation fuel
Shareholders of RIL will receive one equity share of JFS of face value Rs 10 for one fully paid-up equity share of Rs 10 held in RIL.
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Though investments of RIL across verticals will set the company on a decadal growth path, they may weigh on the stock in the near-term. Tech charts, however, suggest otherwise. Here's a report
The government on Thursday raised the windfall tax on exports of diesel to Rs 7 per litre and reintroduced the tax on jet fuel exports of Rs 2 per litre.
The standalone gross revenue of the company has grown from Rs -- crore in Q1FY22 to Rs -- in Q1FY23
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