Sell Reliance Infrastructure, target Rs 270: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a sell call on Reliance Infrastructure Ltd. with a target price of Rs 270. The current market price of Reliance Infrastructure Ltd. is Rs 289.3. Time period given by the analyst is Intra Day when Reliance Infrastructure Ltd. price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 300. Reliance Infrastructure Ltd., incorporated in 1929, is a midcap company has a market cap of Rs 7608.30 crore.

Reliance Infrastructure Ltd. key Products/Revenue Segments include Power Transmission which contributed Rs 7602.15 Crore to Sales Value (84.70 % of Total Sales), Income from EPC,Contracts,& Others which contributed Rs 894.67 Crore to Sales Value (9.96 % of Total Sales) and Other Operating Revenue which contributed Rs 478.48 Crore to Sales Value (5.33 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 5750.81 Crore, down -23.73 % from last quarter Sales of Rs 7539.81 Crore and down -19.07 % from last year same quarter Sales of Rs 7105.90 Crore Company has reported net profit after tax of Rs 276.13 Crore in latest quarter. The company’s top management includes Mr.Anil Dhirubhai Ambani, Mr.K Ravikumar, Mr.S S Kohli, Mr.S Seth, Mr.Shiv Prabhat, Mr.V R Galkar, Ms.Ryna Karani. Company has Pathak H D & Associates as its auditoRs As on 30-09-2018, the company has a total of 262,990,000 shares outstanding.