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    Trending stocks: Reliance Industries shares rise over 1%

    Synopsis

    A total of 51,598 shares changed hands on the counter till 09:25AM (IST).

    Total market cap of the Reliance Industries Ltd. stood at Rs 1170035.62 crore at the time of writing this report.
    NEW DELHI: Shares of Reliance Industries Ltd. traded 1.14 per cent up in Friday's trade at 09:25AM (IST). Around 51,598 shares changed hands on the counter.

    The stock opened at Rs 1730.35 and touched an intraday high and low of Rs 1738.45 and Rs 1725.0, respectively, in the session so far. The stock of Reliance Industries Ltd. quoted a 52-week high of Rs 1804.1 and a 52-week low of Rs 867.11.

    Total market cap of the Reliance Industries Ltd. stood at Rs 1170035.62 crore at the time of writing this report.

    Fitch Ratings upgraded oil-to-telecom conglomerate RIL's long-term local-currency issuer default rating (IDR) to 'BBB+' from 'BBB', with a stable outlook, on the back of expectations of an improvement in the company’s financial profile helped by the recent record fund raising.

    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 11-Jun-2020, domestic institutional investors held 5.25 per cent stake in the firm, while foreign institutional investors held 24.14 per cent and the promoters 49.15 per cent.


    Valuation ratio
    According to BSE data, the stock traded at a price-to-earnings multiple of 29.73 and a price-to-book ratio of 2.38. 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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    The Economic Times