Stocks

RIL hits 52-week high ahead of Q4 results

BL Internet Desk April 27 | Updated on April 27, 2018 Published on April 27, 2018

A file photo of RIL Chairman, Mukesh Ambani.

Shares of Reliance Industries rose 2 per cent, adding Rs 12,335 crore to its market valuation, ahead of its quarterly results to be announced later in the day.

Earlier in the day, the stock climbed as much as 3.6 per cent to Rs 1,011, a record high on the NSE. On the BSE, the stock hit a 52-week high of Rs 1,010.70.

At the closing trade, the stock was up 2.17 per cent at Rs 996.50 on the NSE. On the BSE, the stock was up 1.99 per cent at Rs 994.75.

The company, led by India's richest man Mukesh Ambani, is set to report its March-quarter results later in the day. The energy-to-telecoms conglomerate is expected to report record quarterly consolidated profit of about Rs 9,500 crore ($1.42 billion), according to Thomson Reuters estimates.

Reliance's market cap, which had breached $100 billion in 2007, hovers around $95 billion. More than 4.9 million shares have changed hands, compared with their 30-day moving avg of 6.47 million shares. The stock has risen nearly 6 per cent this year up to Thursday's close.

In the December 2017 quarter, the consolidated profit of Reliance Industries grew 25 per cent y-o-y to ₹9,423 crore. This strong show was led by the petrochemicals segment — healthy volume growth and better margins translated into operating profit growth of 73 per cent y-o-y to ₹5,753 crore.

The company Chairman, Mukesh Ambani, had in December last year outlined five focus areas to put Reliance Industries among the top 20 companies in the world.

Ambani said that as the world transitions from fossil fuels to clean, green and renewable energy, Reliance can become a leading provider of clean and affordable energy to India.

Click here to read more

Published on April 27, 2018

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.