INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Shares of Reliance Industries (RIL) dipped more than 1 per cent in early trade on Thursday after the global brokerage firm
downside of 32 per cent from current levels.
The scrip was trading 1.04 per cent down at Rs 1,281 in early trade, while the benchmark BSE
Sensex was down 0.12 per cent at 38,675 at around the same time.
The stock has added more than Rs 2 lakh crore to its market capitalisation
this year, with half of it in the last one month or so due to its strong June quarter result and renewed optimism in its consumer services
momentum is strong with RMS (revenue market share) also up 275bps (basis points) qoq (quarter on quarter) to 21.9 per cent in 1QFY19
This will reflect in rising EPS (earnings per share) too, even if they lag consensus, but capital spend trends should also be sobering too
RIL snapped its eight-session gaining streak on Wednesday, ending down 1.8 per cent at Rs 1,294.45 after hitting a record high of Rs
1,328.75 during the session
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