RIL inches up after share buyback

The announcement was made after market hours on Tuesday, 1 January 2013.

Meanwhile, the BSE Sensex was up 122.04 points, or 0.62%, to 19,702.85.

On BSE, 35,000 shares were traded in the counter as against an average daily volume of 4.11 lakh shares in the past one quarter.

The stock hit a high of Rs 848.65 and a low of Rs 843.20 so far during the day. The stock had hit a 52-week high of Rs 881 on 17 September 2012. The stock had hit a 52-week low of Rs 671 on 8 May 2012.

The stock had outperformed the market over the past one month till 1 January 2013, rising 5.89% compared with the Sensex's 1.25% rise. The scrip had, however, underperformed the market in past one quarter, gaining 0.73% as against Sensex's 4.02% rise.

India's largest private sector company by market capitalisation has an equity capital of Rs 3228.51 crore. Face value per share is Rs 10.

Reliance Industries (RIL) has set maximum buyback price of Rs 870 per share. The company has set aside Rs 10440 crore for share buyback. The buyback program opened on 1 February 2012 and closes on 19 January 2013.

RIL's net profit fell 5.7% to Rs 5376 crore on 15% growth in net sales to Rs 90335 crore in Q2 September 2012 over Q2 September 2011.

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. RIL is the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.

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