RIL drops in volatile trade

Meanwhile, the S&P BSE Sensex was down 24.92 points or 0.13% at 19,543.30.

On BSE, 4.59 lakh shares were traded in the counter as against average daily volume of 4.60 lakh shares in the past one quarter.

The stock was volatile. The stock lost as much as 1.54% at the day's low of Rs 788.20 so far during the day. The stock rose as much as 0.18% at the day's high of Rs 802 so far during the day. The stock had hit a 52-week high of Rs 954.80 on 21 January 2013. The stock had hit a 52-week low of Rs 695 on 5 June 2012.

The stock had underperformed the market over the past one month till 5 June 2013, sliding 0.08%, compared with the Sensex's 0.04% fall. The scrip had also underperformed the market in past one quarter, declining 3.12% as against Sensex's 2.22% gain.

The large-cap company has an equity capital of Rs 3229.43 crore. Face value per share is Rs 10.

Addressing the shareholders of company at its thirty ninth annual general meeting (AGM) held today, 6 June 2013, Reliance Industries (RIL) Chairman Mr. Mukesh Ambani said that RIL is making huge investments in its businesses at a time when the global economy is facing one of its most challenging periods in modern times. "It is our belief that the new projects will come on stream as the global economy recovers and margins in our core businesses are on the upswing", he added.

Commenting on the company's business and financial performance, Mr. Ambani said that RIL continues to be debt free on a net basis.

Ambani said that RIL has undertaken the single largest expansion in the petrochemicals sector in the world. In Polyester, the company is expanding its capacity by 1.5 million tonnes per annum (MTPA) to reach 4 MTPA.

RIL's net profit surged 31.9% to Rs 5589 crore on 1.2% decline in net sales to Rs 84198 crore in Q4 March 2013 over Q4 March 2012.

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 infotel.

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