- Reliance Industries-RIL has crossed the market cap of Rs. 13 Lakh Crore on Wednesday’s trading with a high share price of Rs. 2001.
Shares of Reliance Industries Ltd. traded 1.81 percent up in Wednesday’s trade Around 106,462 shares changed hands on the counter.
The scrip opened at Rs 1983.8 and touched an intraday high and low of Rs 2001.75 and Rs 1960.0, respectively, in the session so far. Shares of the company of Reliance Industries Ltd. quoted a 52-week high of Rs 1978.5 and a 52-week low of Rs 867.11.
RIL has crossed the market cap of Rs. 13 Lakh Crore at the time of writing this report.
Reliance Jio has sought spectrum in certain frequencies from the Department of Telecom for holding trials of the latest 5G technology. The company’s wholly-owned US-based subsidiary Radisys has already started selling some of the 5G solutions to foreign companies.
The company reported consolidated sales of Rs 136240.0 crore for the quarter ended 31-Mar-2020, down 11.06 percent from the previous quarter’s Rs 153179.0 crore and down 2.4 percent from the year-ago quarter’s Rs 139590.0 crore.
The net profit for the latest quarter stood at Rs 6348.0 crore, down 38.74 percent from the corresponding quarter last year.
As of 11-Jun-2020, domestic institutional investors held a 5.25 percent stake in the company, while foreign institutional investors held 24.14 percent, and the promoters 49.15 percent.
According to BSE data, the stock traded at a price-to-earnings multiple of 33.55 and a price-to-book ratio of 2.68. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. The 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.
The retail vertical of Reliance sold 20 million electronic units, 160 million garments, 2.6 billion units of grocery among other items last financial year, according to the annual report by Reliance Industries.
Reliance is already the largest retail chain in the country, but Chairman Mukesh Ambani — with a net worth of about $72.4 billion — wants more and leaves no stone unturned, whether adding physical stores or technological power (including WhatsApp ‘s reach and scale) to its JioMart e-commerce platform.
With a net worth of $72.4 billion, Chairman Mukesh Ambani leaves no stone unturned — whether adding physical stores or technical resources to JioMart. So far this year, the RIL stock has risen 25.8 percent, analysts expect even more from RIL in the coming months.
