RIL slips ahead of AGM

Reliance Industries fell 0.69% to Rs 795 at 9:17 IST on BSE ahead of the company's annual general meeting today, 6 June 2013.

Meanwhile, the S&P BSE Sensex was down 116.34 points, or 0.59%, to 19,451.88.

On BSE, 26,000 shares were traded in the counter as against an average daily volume of 4.60 lakh shares in the past one quarter.

The stock hit a high of Rs 802 and a low of Rs 795 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, falling 3.12% as against Sensex's 2.22% rise.

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

Shares of Reliance Industries (RIL) and Reliance Communications (RCom) were in demand on Wednesday, 5 June 2013, ahead of the RIL's annual general meeting (AGM). Market is buzzing with speculations that RIL may have new announcements about a potential tie-up with Anil Dhirubhai Ambani-controlled RCom. Shares of RIL rose 2.56% to Rs 800.55 and shares of RCom spurted 5.29% to Rs 116.35 on Wednesday, 5 June 2013.

On 2 April 2013, RIL's telecom unit Reliance Jio Infocomm and RCom had announced the signing of a definitive agreement for approximately Rs 1200 crore as one time indefeasible right to use (IRU) fees for sharing RCom's nationwide inter-city fiber optic network infrastructure. RCom had said at that time that the agreement between the two companies was the first in an intended comprehensive framework of business co-operation between Reliance Jio Infocomm and RCom to provide for optimal utilization of the existing and future infrastructure of both companies on reciprocal basis, including inter alia, inter-city fiber, intra-city fiber, towers and related assets.

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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