Why did Japanese chain 7-Eleven shut 31 stores in India despite its ‘long-term’ ambitions?
Reliance Industries is in focus.
· LiveMint Companies
At the end of September, Reliance Retail, which operates 7-Eleven stores in India under a master franchise agreement, shut all 31 outlets across the country.
The analysis
Against that, the stock is -1.0% on the day at ₹1,158.90, and has returned -11.4% over three months. It sits 27% below its 52-week high, which means a good deal of bad news was already in the price. The oil & energy sector has moved -2.9% over the same period, so Reliance Industries is running 8.5 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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