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Trending stocks: Reliance Industries shares up over 1%

A total of 418,550 shares changed hands on the counter till 09:17AM (IST).

Last Updated: Jun 03, 2020, 09.20 AM IST

Total market cap of the Reliance Industries Ltd. stood at Rs 979416.83 crore at the time of writing this report. 

NEW DELHI: Shares of Reliance Industries Ltd. traded 1.03 per cent up in Wednesday's trade at 09:17AM (IST). Around 418,550 shares changed hands on the counter.

The scrip opened at Rs 1521.0 and touched an intraday high and low of Rs 1540.0 and Rs 1521.0, 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 979416.83 crore at the time of writing this report.

The Mukesh Ambani-led company's Rs 53,124 crore rights issue will close today. The issue has received total bids received of 54.9 crore shares so far, overshooting the 42.26 crore shares on offer by 29.8 per cent. Meanwhile, three of the largest Middle Eastern sovereign wealth funds are in advanced talks to invest in Reliance Industries Ltd.’s digital arm, people familiar with the matter said, potentially adding to the roster of marquee investors that have piled into the business.

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, domestic institutional investors held 5.29 per cent stake in the company, 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 P/E multiple of 24.89 and a price-to-book ratio of 2.12. 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.
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