It downgrades stock from 'buy' to 'hold'; CLSA, too, lowers rating
Analysts estimate net profit to come down in 1st quarter
Reliance's existing retail operation already runs close to 12,000 stores, including a cash-and-carry wholesale business, in over 6,700 Indian towns and cities
Edelweiss Securities notes that the stock's primary triggers - deleveraging, asset monetisation and digital momentum - have already played out.
One of the few in the league of RIL globally is the SoftBank Group, which has grown from being a PC software distributor and a telco to a technology-focused investor
Last year, India Inc sealed deals worth $88.88 billion in the January-July period, but this year the total transactions are $56.73 billion, fueled mainly by RIL-Jio deals
Here are the top headlines of the day
The goal is a 12-hour window for vegetables and fruits to move from the fields to the shelves
Thus far in the calendar year 2020 (CY20), RIL's market-cap has surged 49.8 per cent, or Rs 4.77 trillion, from Rs 9.59 trillion on December 31, 2019
This week, domestic equity markets will largely be steered by corporate earnings, developments on US-China relations front and Covid-19 trends
India's complicated e-commerce policy with restrictions on overseas investors may help keep out global retail and e-commerce players
High-risk investors have shifted to the partly paid (PP) counter of Reliance Industries (RIL) to generate more bang for the buck
In the past six trading sessions, shares of RIL have soared more than 16 per cent
According to reports, Amazon.com Inc is in talks to buy a 9.9 per cent stake in the company's retail arm.
The oil-to-telecom conglomerate is now ranked 46th globally on market cap, according to stock market data
On the National Stock Exchange (NSE), shares of the oil-to-telecom conglomerate rose 4.40 per cent to close at Rs 2,148.40
All that happened in the markets today
Reliance Industries' market valuation crossed Rs 14 lakh crore-mark on Friday as its stock rallied over 4% to scale its fresh peak
Dynastic governance constrains India Inc
Amazon wants a preferred, strategic stake in Reliance Retail for JioMart