Stock market news: Reliance Industries shares climb over 1%

NEW DELHI: Shares of Reliance Industries Ltd. traded 1.44 per cent up in Wednesday's trade at 12:10PM (IST). Around 385,102 shares changed hands on the counter.

The counter opened at Rs 2275 and touched an intraday high and low of Rs 2276.5 and Rs 2235.9, respectively, in the session so far. The stock of Reliance Industries Ltd. quoted a 52-week high of Rs 2368.8 and a 52-week low of Rs 867.11.

Reliance Industries on Wednesday said that private equity player KKR will invest Rs 5,550 crore into Reliance Retail Ventures (RRVL), a subsidiary. KKR investment will translate into a 1.28 per cent equity stake in RRVL on a fully diluted basis, the company said.

Total market cap of the Reliance Industries Ltd. stood at Rs 1518439.86 crore at the time of writing this report.

Key Financials
The company reported consolidated sales of Rs 88253 crore for the quarter ended 30-Jun-2020, down 35.22 per cent from previous quarter's Rs 136240 crore and down 43.78 per cent from the year-ago quarter's Rs 156976 crore.

The net profit for latest quarter stood at Rs 13233 crore, up 30.97 per cent from the same quarter a year ago.

Shareholding pattern
As of 30-Jun-2020, domestic institutional investors held 5.31 per cent stake in the company, while foreign institutional investors held 24.12 per cent and the promoters 49.15 per cent.

Valuation ratio
According to BSE data, the stock traded at a P/E multiple of 35.74 and a price-to-book ratio of 1.56. 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.