Ambani Company Has Got Us Approval To Resume Import Of Crude Oil; Massive Share Buying
Reliance Industries Ltd (NSE: RELIANCE) Share Price: Great news has filtered throughout America in the case of Mukesh Ambani’s business Reliance Industries.
This is why RIL shares are on the rise despite the decline in the stock market. Reliance was trading around 3,005 rupees, with gains of more than 1 percent over the Sensex.
Reliance has been granted US approval to re-enter the market with crude oil from Venezuela.
According to sources familiar with the new development, Reliance has got US approval to resume imports of crude oil through Venezuela despite US sanctions.
India’s largest refiner private plans to begin purchasing the crude oil of Venezuela within the next few days.
In the meantime, the US Treasury has declined to discuss this news and Reliance hasn’t responded to the request for comment.
Reliance Had A Share Of About 90 Percent Of India’s Crude Oil Imports From Venezuela
Sources have said under the condition of anonymity that Reliance has been a part of around 90 percent of India’s imports of crude oil from Venezuela since sanctions were lifted last year, according to the data intelligence firm Kpler.
Washington temporarily lifted the sanctions against Venezuela’s South American nation’s gold and oil industries last year after President Nicolas Maduro and the opposition reached an agreement to ensure an open and fair election.
Sanctions were renewed in April after Venezuela didn’t respect the accord and oil firms are applying for permission by the US Treasury Department to continue trade in Venezuela.
In addition to Reliance the state-owned oil company of India as well as ONGC Videsh Ltd have also requested exemptions to import the crude oil of Venezuela.
According to reports on shipping and Kepler data the exports of Venezuela’s crude oil reached 6,54,000 barrels of oil per day during June. This is the most since April of 2020.
Since, despite the sanctions the US allows firms to continue trading in the US. It has also been granted exclusive permission to keep drilling.
Reliance Industries Ltd Stock Performance
| Current Price | ₹ 2,991 |
| 52-wk High | ₹ 3,218 |
| 52-wk Low | ₹ 2,220 |
| 5 Days Return | -4.48% |
| 1 Month Return | 2.74% |
Key Fundamentals Parameters
| Market Cap | ₹ 20,23,925 Cr. |
| Stock P/E | 29.4 |
| Book Value | ₹ 1,173 |
| Dividend | 0.30 % |
| ROCE | 9.99 % |
| ROE | 9.23 % |
| Face Value | ₹ 10.0 |
| P/B Value | 2.55 |
| OPM | 17.6 % |
| EPS | ₹ 102 |
| Debt | ₹ 3,46,142 Cr. |
| Debt to Equity | 0.44 |
Reliance Industries Ltd Shareholding Pattern
| Promoters Holding | |
| June 2023 | 50.39% |
| Sept 2023 | 50.27% |
| Dec 2023 | 50.30% |
| Mar 2024 | 50.31% |
| June 2024 | 50.33% |
| FII Holding | |
| June 2023 | 22.55% |
| Sept 2023 | 22.60% |
| Dec 2023 | 22.13% |
| Mar 2024 | 22.06% |
| June 2024 | 21.75% |
| DII Holding | |
| June 2023 | 16.13% |
| Sept 2023 | 15.99% |
| Dec 2023 | 16.59% |
| Mar 2024 | 16.98% |
| June 2024 | 17.30% |
| Govt. Holding | |
| June 2023 | 0.17% |
| Sept 2023 | 0.17% |
| Dec 2023 | 0.18% |
| Mar 2024 | 0.19% |
| June 2024 | 0.19% |
| Public Holding | |
| June 2023 | 10.76% |
| Sept 2023 | 10.98% |
| Dec 2023 | 10.80% |
| Mar 2024 | 10.46% |
| June 2024 | 10.43% |
Reliance Industries Ltd Share: Last 5 Years’ Financial Condition
Last 5 Years’ Sales:
| 2020 | ₹ 596,679 Cr |
| 2021 | ₹ 466,307 Cr |
| 2022 | ₹ 694,673 Cr |
| 2023 | ₹ 876,396 Cr |
| 2024 | ₹ 925,289 Cr |
Last 5 Years’ Net Profit:
| 2020 | ₹ 39,880 Cr |
| 2021 | ₹ 53,739 Cr |
| 2022 | ₹ 67,845 Cr |
| 2023 | ₹ 74,088 Cr |
| 2024 | ₹ 78,207 Cr |
Conclusion
The information and forecasts provided result from the analysis of our research team, the company’s basics and history, experience and various technical analyses.
Also, we’ve talked in depth about the shares’ prospects and growth possibilities.
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