Shares of Reliance Industries (RIL) were quoting lower for the third straight trading day, having lost over Rs 1-trillion market capitalisation (market-cap) following the announcement of October-December quarter (Q3FY21) results on January 22. The stock shed 2.4 per cent to Rs 1,893 on the BSE in the intra-day trade on Wednesday, down 10 per cent in the past three trading days. The combined market-cap of RIL s fully paid shares and partly paid shares declined by nearly Rs 1.4 trillion in the three days. At 10:59 am, the fully paid RIL shares were trading 1.3 per cent lower at Rs 1,914 per share with a market-cap of Rs 12.13 trillion. Meanwhile, RIL s partly paid shares were quoting 3 per cent lower at Rs 1,044 after hitting low of Rs 1,029 in intra-day trade today. The partly paid shares market-cap stood at Rs 44,080 crore, the BSE data showed. The combined market-cap of RIL fully paid and partly paid shares hit a record high of Rs 15.63 trillion on September 16, 2020 in intra-d
Read more about RIL hits over 2-month high on Sebi nod to Future Group-Reliance Retail deal on Business Standard. Sebi gave a go-ahead to Future Group s scheme of arrangement and sale of assets to Reliance
Stop loss: 485 Radico has gained noticeable traction in the last ten months and has doubled the investors money in such a short period. Importantly, it s currently trading closer to its record high and has also ended the 2-year long consolidation phase of late. All indications are in favour of the prevailing buoyancy to continue. We thus suggest creating fresh longs in the given range.
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Disclaimer: Ajit Mishra is VP - Research at Religare Broking Dear Reader,
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Driven by a strong rebound in petrochemicals business, and supported by growth in the retail segment, Reliance Industries Ltd (RIL) is expected to clock a stellar sequential improvement in its net profit for the December quarter of the current financial year (Q3FY21). The firm is scheduled to report its Q3 earnings on Friday, January 22. Analysts are penciling-in up to 32 per cent sequential growth in RIL’s consolidated net profit, pegged at Rs 12,600 crore, against a profit after tax (PAT) of Rs 9,567 crore reported in the September quarter of FY21 (Q2FY21). “Sharply lower interest costs and a continued decline in the tax rate should drive around 32 per cent increase in attributable PAT on a quarterly basis. As regards the pre-tax profit, it should still be down year-on-year, given a sharply lower consolidated tax rate,” wrote analysts at JPMorgan in a result preview report. RIL’s profit before tax (PBT) and net profit in the year-ago period stood at Rs 15,082 crore