Trending stocks: Reliance Industries shares gain nearly 1%

NEW DELHI: Shares of Reliance Industries Ltd. traded 0.51 per cent up in Wednesday's trade at 09:25AM (IST). Around 124,343 shares changed hands on the counter.

The counter opened at Rs 1407.3 and touched an intraday high and low of Rs 1418.5 and Rs 1393.65, respectively, in the session so far. The stock 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 892125.12 crore at the time of writing this report.


RIL will use three-fourth of proceeds of its mega rights issue for repayment of some of its borrowings, according to offer document. The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.


Key Financials
The company reported consolidated net 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.

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, DIIs 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 22.67 and a price-to-book ratio of 1.93. 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.

Reliance Industries Ltd. belongs to the Diversified industry.