Indian shares edge lower ahead of Reliance results; Zomato soars on debut

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Indian shares edged lower on Friday amid mixed global cues, ahead of quarterly results from oil-to-telecom conglomerate Reliance Industries Ltd (RELI.NS) while India's first unicorn Zomato Ltd (ZOMT.NS) soared at its debut.

Shares of Indian food delivery firm Zomato opened at a 52.6% premium to their inital public offering price on Friday, in the country's first stock market listing of a startup valued at more than $1 billion.

Investors are also likely to watch out for any possible impact of the pandemic and lockdowns earlier this year on the quarterly results of Reliance Industries, due later today. First-quarter profit of the Mukesh Ambani-owned company is estimated to come in at 128.38 billion rupees, and revenue at 1.55 trillion rupees, according to Refinitiv data.

 

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