Meanwhile, the BSE Sensex was up 276.79 points, or 3.15%, to 9220.80.On BSE, 16.44 lakh shares were traded in the counter. The scrip had an average daily volume of 18.10 lakh shares in the past one quarter.The stock hit a high of Rs 1220 and a low of Rs 1133.10 so far during the day. The stock had a 52-week high of Rs 3252.10 on 15 January 2008 and a 52-week low of Rs 930 on 27 October 2008.
The stock had underperformed the market over the past one month till 18 November 2008, declining 12.61% as compared to the Sensex's 10.41% decline. It had also underperformed the market in the past one quarter, falling 48.73% as compared to the Sensex's fall of 38.98%.
India's largest private sector company by market capitalisation and oil refiner has an equity capital of Rs 1573.79 crore. Face value per share is Rs 10.
The current price of Rs 1207 discounts its Q2 September 2008 annualised EPS of Rs 113.40, by a PE multiple of 10.64.
Recently, ABN Amro had cut its target price on the Reliance Industries (RIL) stock by a whopping 38% to Rs 1150 while maintaining a 'sell' rating as it expects grim scenario for the company's refining business due to slowdown in global oil demand, on the back of expected slowdown in global GDP, and new refining capacity.
Reliance Industries (RIL)'s net profit rose 7.4% to Rs 4122 crore on 39.8% growth in net sales to Rs 44787 crore in Q2 September 2008 over Q2 September 2007.
On 3 October 2008, RIL said it had allotted 12 crore equity shares of face value Rs 10 each to various promoter group firms upon exercise of rights attached to warrants held by them. These equity shares would be subject to a lock-in for a period of three years from the date of allotment of the warrants. The conversion price for the warrants is Rs 1,402 per share.
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