{"id":273741,"date":"2019-05-10T07:20:42","date_gmt":"2019-05-10T07:20:42","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=273741"},"modified":"2019-05-10T07:24:10","modified_gmt":"2019-05-10T07:24:10","slug":"morgan-stanley-downgrades-reliance-industries-sees-pressure-on-earnings","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/morgan-stanley-downgrades-reliance-industries-sees-pressure-on-earnings\/","title":{"rendered":"Morgan Stanley downgrades Reliance Industries, sees pressure on earnings"},"content":{"rendered":"<p>Brokerage Morgan Stanley has downgraded the rating of Reliance Industries to \u201cequal-weight\u201d from \u201cover-weight\u201d. It has said that the Mumbai-based group\u2019s earnings growth could halve in fiscal 2020.<\/p>\n<p>The shares of Reliance Industries Ltd dipped nearly 3 per cent to Rs 1,258.35, their lowest in more than two months, dragging the broader NSE index.<\/p>\n<p>The brokerage expects the lower availability of Venezuelan and Iranian crude, along with a glut in polyester and gas markets to hit Reliance\u2019s earnings. US sanctions on Venezuela have curtailed availability of heavy crude from the country, it said.<\/p>\n<p>\u201cUpside appears limited amid core business drags, with no material capacity adds,\u201d Morgan Stanley said. \u201cExpect consensus earnings expectations will see their first material cut by 2H19 of 17-20 per cent,\u201d it added.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brokerage Morgan Stanley has downgraded the rating of Reliance Industries to \u201cequal-weight\u201d from \u201cover-weight\u201d. It has said that the Mumbai-based group\u2019s earnings growth could halve in fiscal 2020. The shares of Reliance Industries Ltd dipped nearly 3 per cent to Rs 1,258.35, their lowest in more than two months, dragging the broader NSE index. The brokerage expects the lower availability of Venezuelan and Iranian crude, along with a glut in polyester and gas markets to hit Reliance\u2019s earnings. US sanctions on Venezuela have curtailed availability of heavy crude from the country, it said. \u201cUpside appears limited amid core business drags, [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130],"tags":[],"class_list":["post-273741","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=273741"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/273741\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=273741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=273741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=273741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}