News Detail

• Shares of oil & gas major RIL slipped nearly half-a-percent to Rs 761.25 in early morning trade after reports surfaced that it has shut down four oil wells in KG-D6 field.Yesterday, the stock was down 2.30% after RIL started arbitration proceedings against the government. RIL touched an intraday high of Rs 761.50 and an intraday low of Rs 753.75. Currently, it is trading with volumes of 63,549 shares.Also Read - RIL begins arbitration process against govtThe stock touched its 52-week high Rs 1,090.00 and 52-week low Rs 713.55 on 05 Jan, 2011 and 26 Aug, 2011, respectively. Currently, it is trading -30.16% below its 52-week high and 6.68% above its 52-week low. Market capitalisation stands at Rs 249,263.89 crore.The company's trailing 12-month (TTM) EPS was at Rs 66.81 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 11.40. The latest book value of the company is Rs 446.11 per share. At current value, the price-to-book value of the company was 1.71. The dividend yield of the company was 1.05%.
• Check out analysts view on November 29,2 011 on CNBC-TV18:Mehraboon Irani, Principal and Head- Pvt Client Group Business, Nirmal Bang Securities said that, “Reliance Industries, I think arbitration proceedings against the government asking for recovery of cost. I think this is something which as per the agreement which was there could be valid as far as the company goes but again this is something which is not going to be liked by the investor community because these type of issues which Reliance has been encountering over the last few months, while everybody is stating that Reliance as a scrip right now is value for money not many are actually going ahead and buying into the particular scrip.”
• He further added, “So, I think the stock has been an underperformer and till the time all these issues don’t go away I personally feel the stock will continue to underperform the markets.”Abhijit Paul, AVP- Technical Analyst, Brics Securities said that, "“Reliance over a year, year and a half has been doing its bit. It’s been underperforming the market for quite some time. But Bharti Airtel is the one to keep a watch for because this was the erstwhile pocket that has strength along with Idea Cellular and these stocks has been trending well. So from a contra short-term point of view Bharti actually makes much more sense than RIL which is likely to stay within a 5-6% kind of a range hereon.”Rahul Mohindar, Director, viratechindia.com said that, “Reliance Industries has been a big disappointer from an investor’s point of view over the last couple of years. Even now I think we are not really going to make any serious headwind on short-term till we get past Rs 820 odd. We might even stay between that Rs 720-820 band. I am not expecting any serious upside from Reliance Industries. I still think the charts look negative. It’s more of a wait and watch here whilst I don’t think that this is a stock which is really going to get to the new lows.”
• He further added, “One has to really wait for some consolidation and a breakout past Rs 820 because that’s the only level above which I think we can see at least some kind of a medium-term surge coming on it.”Sudarshan Sukhani of s2analytics.com said that, "Reliance is a long regret, for e.g. I am comparing it with L&T or even State Bank, these stocks were consolidating and hence they come in the buy list. Reliance was not consolidating, till Friday it was falling just like the Nifty."He further added, "Yesterday it saw a rally but I would say that rally was much lesser in strength when compared to some of the other blue chips, some of the banks. So Reliance is a short sell rather than a buy. The first sign of weakness and chances are Reliance is going to lead that decline, so don’t have to sell it until you see those signs of weakness in the Nifty and then Reliance becomes a short sell. On the downside I expect Rs 765 to be tested again."

Source