Trending stocks: Reliance Industries shares gain nearly 2%

NEW DELHI: Shares of Reliance Industries traded 1.47 per cent up in Monday's trade at 09:20AM (IST). Around 41,930 shares changed hands on the counter.

The scrip opened at Rs 1624.0 and touched an intraday high and low of Rs 1624.0 and Rs 1599.15, respectively, in the session so far. Shares of the company of Reliance Industries Ltd. quoted a 52-week high of Rs 1624.0 and a 52-week low of Rs 867.11.

Total market cap of the Reliance Industries Ltd. stood at Rs 1030130.97 crore at the time of writing this report.


Abu Dhabi Investment Authority bought 1.16 per cent stake in Reliance Industries' digital arm Jio Platform for Rs 5,683.50 crore, the Indian firm said in a statement. US private equity giant Silver lake and its co-investors have also invested an additional Rs 4,546.80 crore in Reliance Industries’ Jio Platforms.


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 corresponding quarter last year.

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 26.18 and a price-to-book ratio of 2.23. 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.