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Closing Bell (30 July 2018)
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RIL likely to open higher on Monday: top 10 takeaways from Q1 results
Experts feel that RIL is likely to open higher with a gap-up of possibly 4-5 percent on Monday when market resumes trading.
Ltd which reported its results for the quarter ended June post market hours on Friday disappointed in terms of net profit but revenue growth, EBITDA, and margins which were above Street estimates.
The share of RIL closed 1.7 percent higher at Rs 1,129. The stock has already rallied over 20 percent for the year 2018 and over 35 percent in the last one year.
Experts feel that RIL is likely to open higher with a gap-up of possibly 4-5 percent on Monday when market resumes trading.
“RIL closed at a market cap Rs 7.16 lakh crore on Friday and TCS market cap stood at Rs 7.40 lakh crore. I would not be surprised RIL jumping 4-5 percent on Monday to reach levels of Rs 1,170-1,180 and in that process, it might surpass TCS and will become a largest market cap company,” SP Tulsian of sptulsian.com said in an interview with CNBC-TV18.
Net Profit:
The Oil & Gas major, RIL reported a consolidated net profit of Rs 9,485 crore for the quarter ended June 30 which was slightly lower than a CNBC-TV18 poll of Rs 9,570 crore.
Total Revenue:
Consolidated revenue during the quarter increased 10.1 percent sequentially to Rs 1.29 lakh crore, backed by growth across the board.
Increase in revenue is primarily on account of higher realizations of refining and petrochemical products led by 49 percent YoY increase in Brent oil price. “Increased revenues also reflect higher volumes with start-up and stabilization of petrochemicals projects,” said the release.
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Source:https://www.moneycontrol.com/news/business/earnings/ril-likely-to-open-higher-on-monday-top-10-takeaways-from-q1-results-2773831.html
Friday, July 27, 2018
Nifty forms robust bullish candle; upside may extend up to 11,480
Bulls roared at Dalal Street on Friday as follow up buying helped frontline indices end at record closing highs. The Nifty50 after opening higher remained on upward path throughout the session, forming robust bullish candle on the daily candlestick chart as well as weekly chart.
All sectoral as well as broader indices participated in the rally barring PSU Bank. FMCG and Metal indices were the biggest gainers, rising 2 percent each while the Nifty Midcap index was up 0.9 percent.
The 30-share BSE Sensex, which hit record high for the 21st time in 2018, closed 352.21 points higher at 37,336.85, driven by ITC which was the biggest gainer with 5 percent rally after Q1 earnings.
It was a strong start to the August series as the Nifty50 after opening higher at 11,232.75 rallied sharply to hit fresh intraday all-time high of 11,283.40. The index, which did not fall below the 11,200 levels today, closed 111.10 points or 0.99 percent higher at 11,278.40.
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Source: https://www.moneycontrol.com/news/business/markets/technical-view-nifty-forms-robust-bullish-candle-upside-may-extend-up-to-11480-2772721.html
Closing Bell (27 July 2018)
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