Financial Daily from THE HINDU group of publications
Tuesday, Oct 07, 2003
Financial Daily from THE HINDU group of publications Tuesday, Oct 07, 2003 |
|
|
|
|
|
Home Page
-
Stock Markets Markets - Stock Markets Reliance group stocks pushing all-time highs Virendra Verma
Mumbai , Oct. 6 THE stock market seems to be bullish on the Reliance Group companies as the stock prices of its flagship Reliance Industries Ltd (RIL) and Reliance Energy (formerly BSES) touched an all-time high in today's trading. Even IPCL, in which Reliance Group has 46 per cent, was also close to its all-time high. In today's trading, RIL stock touched a high of Rs 459.85 before closing at Rs 458.10, up 2.12 per cent from the previous closing, on BSE. Similarly, Reliance Energy touched Rs 411 before closing at Rs 408.65, up 6.95 per cent on BSE. IPCL closed at Rs 189.45, up 6.40 per cent and touched the high of Rs 190.40. The all-time high for IPCL stock is Rs 202 touched in August 1994. However, today's high of Rs 190.40 is the highest price for stock since 1995. Brokers said the rise in the stock price of RIL, IPCL and Reliance Energy is much more than the appreciation of BSE Sensex since the beginning of this financial year. Since April 200, Sensex has gained by 51 per cent, in comparison, RIL stock has gained 63 per cent and Reliance Energy by 90 per cent. IPCL stock has gained by 125 per cent during this period. The main factor for returns much more than BSE Sensex, is the keen interest of institutional investors in these stocks. The interest in these stocks is due to various reasons. For Reliance Industries, the company has been integrating its operation with IPCL and this has benefited both the companies, analysts said. In addition, the good response to the Reliance Infocom in which RIL has made huge investment, is also attracting the interest of the market players in RIL stock. According to brokers, the interest in Reliance Energy is due to the internal restructuring, after the company became part of the Reliance Group in January 2003.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|