Tag: reliance industries

Daily Market Update FEB 23

Even as DHFL was getting close to being sold to Piramal Enterprises, there is a new angle as the transaction auditor, Grant Thornton, has reported further fraudulence worth Rs6,182 crore in DHFL. The report by Thornton states that certain transactions were undervalued, fraudulent and preferential in nature. These transactions apparently were executed over a period

Weekly Capsule (Feb 15 – Feb 19)

News Announcement Impact Analysis ·         Oil rally in Brent Crude market takes a brief breather at $65/bbl ·         The oil shortage was created by Arctic blasts that had left Texas freezing, putting 4 million bpd of oil at risk ·         With the OPEC unwilling to relent on supply infusion, oil prices have rallied over 80%

Daily Market Update Jan 6

Brent crude prices crossed the $53/bbl mark on Tuesday after the largest oil producer in the OPEC, Saudi Arabia, agreed to take more cuts in output to keep the OPEC Plus deal going. Both Russia and Kazakhstan, part of the OPEC Plus alliance, wanted to increase oil output by 500,000 bpd. However, fearing that it

Daily Market News – Aug 10th

  In a major step towards Atma Nirbhar or self-reliant India, the defence minister Rajnath Singh announce the list of 101 defence items in which imports will be banned. Hence, the Indian defence establishment will be required to buy this equipment only from Indian suppliers. This is an opportunity for the defence research laboratories to

Daily Market Update – 29july

  Two leading institutional brokers, CLSA and Edelweiss, have downgraded Reliance Industries. Edelweiss has noted that some of the major triggers for the stock like deleveraging, asset monetization and digital foray have already played out. Edelweiss has downgraded the stock from Buy to Hold. On the other hand, CLSA has also downgraded the stock from