Reliance Industries - Q4FY20 results - HDFC Securities

Mr. Deepak Jasani, Head of Research, HDFC Securities

Reliance Industries reported Q4FY20 results that were slightly underwhelming. While Refining and Retail business did better than expected, the Petrochem business disappointed majorly. Even the Telecom business fared slightly below expectations with ARPU of Rs.130.6 coming in below expected levels of Rs.135-138 that had its impact on topline growth, though lower than expected interest and tax expenses helped bottomline of that business.

The announcement of paycut ahead of results signifies some tough times for the company at least for the next few months. The rights issue size was higher than expected, though staggered payment would provide some time to shareholders to subscribe. The debt reduction plan now seems achievable though with some possible delays.

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1467.05 as compared to the previous close of Rs. 1426.2. The total number of shares traded during the day was 1277127 in over 47637 trades.

The stock hit an intraday high of Rs. 1494.5 and intraday low of 1440. The net turnover during the day was Rs. 1876995490.

Source : Equity Bulls

Keywords