Long Term Buy Call For Reliance Industries
Technical analyst Rajesh Agarwal of Eastern Financiers Ltd maintained 'hold' rating on Reliance Industries Limited (RIL) stock with targets of Rs 1250 and 1300.
According to analyst, the investors can hold the stock for 12 months to attain this said target.
Today, the stock of the company opened at Rs 966.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 1187 and a low of Rs 915 on BSE.
Current EPS & P/E ratio stood at 59.70 and 16.11 respectively.
Reliance Industries (RIL) stated that it has assigned 1.6 lakh scrips to its staff under ESOP scheme.
"The company has allotted 1,60,832 equity shares of Rs 10 each, on January 22, 2011, pursuant to the Employees Stock Option Scheme," the company said.
Previously, the company allotted 2.86 lakh shares under the same plan on January 5 2011.
Mukesh Ambani led Reliance Industries (RIL) registered an increase of 28.14% in its net profit for the three month period ended December 2010.
During Oct-Dec period, the company's profit surged to Rs 51.36 billion as compared to Rs 40.08 billion during the corresponding period of previous year.
Net turnover during the period grew by 5.16% to Rs 597.89 billion, whereas total income for the said period increased 5.52% to Rs 605.30 billion.