Musk Steps Up Attack On Ambani; Shares Reports On Alleged Reliance Links To BJP Campaigns, Donations
Reliance Industries reported results.
· NDTV Profit
A few hours before he made the post, Musk on X addressed Mukesh Ambani as "Prime Minister Ambani" and accused him of protecting a monopoly. Musk wondered if Ambani would consider allowing his satellite internet service to compete with his entity in the country.
The analysis
Against that, the stock is -0.7% on the day at ₹1,170.30, and has returned -8.6% over three months. It sits 26% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -1.2% over the same period, so Reliance Industries is running 7.4 points behind its peers.
For Reliance Industries, the question is how much of this is already reflected in the price and how much re-rates the oil & energy peer set alongside it.
Market context
- The company directly in focus is RELIANCE.
- Sector exposure: Oil & Energy.
In this story
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