A few hours are left for the quarterly results of Asia's richest billionaire Mukesh Ambani's Reliance Industries, but before that the country's largest company has already incurred a loss of more than Rs 65,000 crore. The company's shares have seen a decline of more than three and a half percent. In fact, experts say that in the second quarter, there may be a decline in Reliance's sales to income.
Because of which there has been a decline in the shares of the company. Let us tell you that the demerger of Reliance Industries and Jio Financial happened a day ago. Because of that the weightage of the company has also decreased from BSE and NSE. Let us also tell you what kind of predictions have been made by the experts regarding the result of Reliance and what kind of effect has been seen in the shares of the company.
What was the prediction?
JM Financial pegged oil-to-telecom major Reliance Industries' profit at Rs 15,764.90 crore, down 12.2 per cent year-on-year. Its sales are estimated to be Rs 2,13,471 crore, down 2.7 per cent year-on-year. Kotak Institutional Equities believes that RIL's profit could fall 14 per cent year-on-year to Rs 15,417.70 crore in the June quarter, from Rs 17,955 crore in the same quarter last year.
RIL's sales may fall by 4 percent to Rs 2,09,771 crore compared to Rs 2,19,304 crore on an annual basis. Talking about Reliance Jio, according to Kotak Institutional Equities, Ebitda is expected to grow by 15 percent annually due to net growth of Rs 90 lakh and a marginal increase in ARPU from Rs 179 in the March quarter.
Shares fell by more than 3.5 percent
Due to these speculations, Mukesh Ambani's Reliance shares have seen a big fall. The company's stock is trading at Rs 2540 with a decline of 3 per cent at 2.50 pm. Whereas during the trading session the company's stock also went up to Rs 2523.35. This means that today the company's stock has seen a decline of 3.63 per cent. By the way, the company's stock had closed at Rs 2619.80 after the special session. Which became a new 52-week high during the trading session with Rs 2,635.17. Let us tell you that after the demerger of Jio Financial, the shares of Reliance have come down considerably as compared to Wednesday. The company's stock had closed at more than Rs 2,800 on Wednesday.
Company's market cap declined by 65 thousand crores
Due to the fall in shares, there has been a big decline in the market cap of Reliance. When the market closed a day ago, the market cap of the company stood at Rs 17,73,507.12 crore. Today, when the company's stock reached Rs 2523.35 at 12.30 pm, the market cap of the company came to Rs 17,08,214.06 crore. This means that in a few hours, the company's market has suffered a loss of Rs 65,293.06 crore. At 3 pm, the company's market cap has recovered to Rs 17,19,210.32 crore.
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