Reliance Industries drops amid volatility

Reliance Industries lost 2.01% to Rs 1068 at 15:15 IST on BSE, with the stock sliding amid volatility as the company held its 40th Annual General Meeting today, 18 June 2014.

Meanwhile, the S&P BSE Sensex was down 279.11 points or 1.09% at 25,242.08.

On BSE, so far 6.61 lakh shares were traded in the counter as against average daily volume of 4.32 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 2.1% at the day's low of Rs 1067 so far during the day. The stock rose as much as 1.1% at the day's high of Rs 1101.95 so far during the day. The stock hit a 52-week high of Rs 1,142.50 on 16 May 2014. The stock hit a 52-week low of Rs 765 on 28 August 2013.

The stock had underperformed the market over the past one month till 17 June 2014, gaining 0.87% compared with the Sensex's 5.8% rise. The scrip had, however, outperformed the market in past one quarter, jumping 23% as against Sensex's 17.02% rise.

The large-cap company has equity capital of Rs 3232.72 crore. Face value per share is Rs 10.

Reliance Industries (RIL)'s Chairman Mukesh Ambani said at the company's annual shareholders' meeting today, 18 June 2014, that RIL is investing over Rs 1.8 lakh crore in its businesses in the current three years' investment cycle.

Ambani said that RIL is making efforts to maximize production from its existing oil and gas fields. With regard to the international oil and gas business, Ambani said that RIL is looking to expand its presence beyond the United States.

Ambani said there will be a phased launch of fourth generation broadband services by Reliance Jio Infocomm in 2015.

Ambani said that RIL is at inflection point in its journey to create value for its stakeholders, based on three-year investment cycle, greater competitive advantage and higher diversity and sustainability of growth and profitability of all its businesses.

RIL's net profit rose 0.8% to Rs 5631 crore on 13.1% growth in net sales to Rs 95193 crore in Q4 March 2014 over Q4 March 2013.

RIL's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail and broadband services.

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