Trending stocks: Reliance Industries shares flat in early trade

A total of 29,862 shares changed hands on the counter till 09:24AM (IST).

Agencies

Total market cap of the Reliance Industries Ltd. stood at Rs 902521.52 crore at the time of writing this report. 

NEW DELHI: Shares of Reliance Industries Ltd. traded 0.14 per cent up in Wednesday's trade at 09:24AM (IST). Around 29,862 shares changed hands on the counter.

The stock opened at Rs 1434.0 and touched an intraday high and low of Rs 1434.0 and Rs 1421.5, respectively, in the session so far. Shares of the company of Reliance Industries Ltd. quoted a 52-week high of Rs 1601.94 and a 52-week low of Rs 867.11.

Total market cap of the Reliance Industries Ltd. stood at Rs 902521.52 crore at the time of writing this report.


The Mukesh Ambani-led company is working with banks on early preparations for an overseas listing of its digital and wireless business, people with knowledge of the matter said, after the unit attracted more than $10 billion of investment in a month.


Key Financials
The company reported consolidated sales of Rs 136240.0 crore for the quarter ended 31-Mar-2020, down 11.06 per cent from previous quarter's Rs 153179.0 crore and down 2.4 per cent from the year-ago quarter's Rs 139590.0 crore.
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The net profit for latest quarter stood at Rs 6348.0 crore, down 38.74 per cent from the same quarter a year ago.

Shareholding pattern
As of 31-Mar-2020, domestic institutional investors held 5.29 per cent stake in the firm, while foreign institutional investors held 23.48 per cent and the promoters 48.87 per cent.

Valuation ratio
According to BSE data, the stock traded at a price-to-earnings multiple of 22.93 and a price-to-book ratio of 1.96. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.
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Reliance Industries Ltd. belongs to the Diversified industry.
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