The breadth of the market favoured the advances as 1466 stocks advanced and 306 declined while 340 remained unchanged on the NSE. On the BSE, 1933 stocks advanced, 634 declined and 157 remained unchanged.
Volatility index which is already near 4-year high is trading is expected to surge further as we head towards May 23. It is when stocks which are trading at a premium could face some pressure
Based on the broader formation of the market, it would now be a very tough task for Nifty to cross 11,760, before the outcome of election results
The breadth of the market favoured the declines as 759 stocks advanced and 899 declined while 441 remained unchanged. On the BSE, 948 stocks advanced, 1,166 declined and 137 remained unchanged.
The brokerage firm expects the earnings growth of the Mukesh Ambani-led company to halve in FY20, after delivering a steady 17 percent compound annual growth rate (CAGR) between FY17 and FY19.
The top Nifty gainers include UPL, JSW Steel, BPCL, Indian Oil Corporation and Power Grid while BPCL, Zee Entertainment, Vedanta, Reliance Industries, Bajaj Finserv and Dr Reddy's Labs are the top losers.
The breadth of the market favoured the declines as 807 stocks advanced and 820 declined while 466 remained unchanged. On the BSE, 925 stocks advanced, 947 declined and 113 remained unchanged.
Both Reliance and SoftBank spokespersons declined to comment on the matter.
Nalanda Securities is bullish on Reliance Industries recommended buy rating on the stock with a target price of Rs 1638 in its research report dated April 21, 2019.
Investors who are already invested in RIL may remain long on the stock; but, as the view remain mixed, they should avoid fresh longs, suggest experts
The top Nifty gainers include Infosys, Wipro, Tech Mahindra, TCS and HCL Tech while BPCL, IOC, YES Bank, Indiabulls Housing Finance and Reliance Industries are the top losers.
Industry sources said Reliance had a contract to buy some 3 million barrels of crude oil from Venezuela a month, which has been reduced to about 2 million barrels already.
Nifty Auto was the outperforming sector for the week, up 2.2 percent while on the other hand Nifty PSU Bank was the top loser, down 2.7 percent.
'R-Cluster development is on track for first gas in 2H FY21,' Reliance said in an investor presentation after its fourth-quarter earnings.
Prabhudas Lilladher recommended accumulate rating on Reliance Industries with a target price of Rs 1406 in its research report dated April 19, 2019.
Abhijeet Bora, senior research analyst at ShareKhan said they expect the the stock would positively react on April 22.
As of March 31, Reliance Retail also operates more than 8,000 Digital and Jio Stores put together.
The results were largely in line with estimates, but after the recent run-up in the stock price there could be a possibility of a knee-jerk reaction.
Retail segment revenue for Q4 grew by 51.6 percent to Rs 36,663 crore as against Rs 24,183 crore in the corresponding period of the previous year
The top Nifty gainers include Tata Motors, Reliance Industries, Wipro, Tech Mahindra and Asian Paints while Bharti Airtel, Indiabulls Housing, YES Bank, Vedanta and Hindalco are the top losers.
Key segments, which expect to drive growth for the company, are retail and telecom.
In a statement, RIL said its Singapore-incorporated subsidiary Reliance Ethane Holding Pte Ltd (REHPL) has signed "binding definitive agreements for a strategic investment by MOL" and an unnamed strategic minority investor in six limited liability companies.
Due diligence for the deal is said to be in advanced stages. If the deal goes through, Reliance Retail plans to increase the geographic footprint of Hamleys in India.
Net Sales are expected to decrease by 0.7 percent Y-o-Y (down 16.7 percent Q-o-Q) to Rs. 86,598.8 crore, according to Prabhudas Lilladher.
Reliance is one of the largest companies in the organised retail market and it is the fastest-growing player in the grocery segment, HSBC said.