INSUBCONTINENT EXCLUSIVE:
HDFC Securities maintained its Neutral rating on Reliance Industries in the long term with a target price of Rs 1,562
The stock closed at Rs 1,532, down 3.1% on Monday while the BSE Sensex closed 416.46 points (0.99%) down at 41,528.91.
Company FinancialsFor
the quarter ended 31-12-2019, the company has reported consolidated sales of Rs 152939.00 crore
The company has reported net profit after tax of Rs 11784.00 crore in the latest quarter
Singh Gujral, Mr.Pawan Kumar Kapil, Mr.P M S Prasad, Mr.Nikhil R Meswani, Mr.Mukesh D Ambani, Mr.Mansingh L Bhakta, Mr.Hital R Meswani,
Mr.Adil Zainulbhai, Dr.Shumeet Banerji, Prof.Dipak C Jain
Company has D T S - Associates as its auditors
As on 30-09-2019, the company has a total of 6,339,123,229 shares outstanding
Investment RationaleAccording to the brokerage, RIL posted underwhelming results in third quarter as operating profit reported was 10%
Weak margins across petrochemical products and higher operating expenses have impacted the earnings adversely
Further, the refining and petrochemical segments face demand slack, given the impending capacity additions in 2020.