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Reliance Industries (Below Rs 700) – Company with Rs 300 per share cash

For a company sitting on Rs 300 in hard cash per share, a share price of Rs 700 means investors are getting a share of its business for Rs 400. Potential reasons of Reliance Industries crashing below Rs. 700 mark. – expected drop in net profits by 20 percent in the third quarter of the […]

Buy Reliance Industries – Target 1040

CMP: Rs 806 Target: Rs 1,040 We believe the broad regulatory charges on RIL, DGH and the ministry regarding violating the PSC would have no material impact on RIL as the regulators have also been criticized of being unequipped. We have trimmed our estimates for FY12 and FY13 due to lingering concerns on the global […]

Reliance to Enter Financial Services

Reliance Industries announced that it has agreed to establish a joint venture with New York-based D.E. Shaw group to build financial services business in India. The joint venture will incorporate the D.E. Shaw investment and technology expertise with RIL’s operational knowledge and extensive presence across the country. D.E. Shaw group is an investment and technology […]

Technical Analysis – Reliance Industries

Following a four-day rally last week, RIL encountered resistance at Rs 960 on Friday and retreated to finish the week with a 3 per cent gain. The short-term trend is down for the stock since the January peak of Rs 1,090. This downtrend remains in place as long as the stock trades below its key […]

Technical Analysis – Reliance Industries

The stock moved sideways in the band between Rs 1,040 and Rs 1,070 and finished the week at almost the same level. It has formed a weekly doji candlestick pattern implying neutral stance. Reliance Industries continues testing its short-term resistance in the range between Rs 1,060 and Rs 1,080. We re-affirm our view that fresh […]

Technical Analysis: Reliance Industries

Reliance Industries moved sideways last week between Rs 980 and Rs 1,020 closing with a marginal gain of Rs 4.7. Taking support around Rs 985, the stock rose 2 per cent on Friday. Traders with a short-term perspective can consider holding their long positions with stop-loss at Rs 990 and exit in rallies at Rs […]

Technical Analysis – Reliance Industries

After testing the key resistance in the band between Rs 1,040 and Rs 1,050, Reliance Industries started to decline and finished the week in negative territory with 2.5 per cent loss. We reiterate our prior view that failure to penetrate the aforementioned resistance will result in the stock consolidating sideways in the Rs 1,000 to […]