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    RIL sees biggest trading volume in 13 years & largest turnover

    Synopsis

    The turnover on the counter stood at Rs 6,109.28 cr in cash segment, again the highest ever.

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    NEW DELHI: Shares of Reliance Industries on Tuesday logged their highest-ever cash market turnover and biggest trading volumes in over 13 years since January 18, 2006 on NSE, data available with the stock exchange shows.

    Over 4.79 crore shares changed hands on the counter, the largest since the stock recorded 61 crore daily trading volume on January 18, 2006. The surge in volume was accompanied by a sharp rise in the scrip, which jumped 9.74 per cent for the day to end at Rs 1,275.

    The turnover on the counter stood at Rs 6,109.28 crore in cash segment, again the highest ever.

    Had it not been the support from Reliance Industries and two other stocks, BSE Sensex could have easily fallen over 1,000 points, recording the biggest one-day fall for the index this year.

    In the F&O segment, the counter saw addition of 26,96,500 contracts to open interest (OI) in August series. Traded volume stood at 1.32 lakh contracts. RIL August futures jumped 9.79 per cent to Rs 1,280.

    Both September and October series contracts saw OI addition of 24,42,000 contracts and 20,500 contracts, respectively. Traded volume for the two series stood at 5,921 and 352 contracts, respectively.

    Analysts said Reliance Industries’ largest FDI deal with Saudi Aramco, the roadmap to become a zero net-debt company by March 2021, the unveiling of four new growth verticals and plans to unlock value in retail and telecom businesses had investors going gung ho on the stock.

    All through past three months, the stock was facing repeated rating cuts, as Dalal Street had become wary of its ballooning debt load and negative free cash flow.

    The Aramco deal, which is estimated to bring in roughly Rs 1,00,000 crore for a 20 per cent stake in RIL’s oil-to-chemicals (OTC) business valued at $75 billion, allay those concerns.
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    2 Comments on this Story

    Niveza Equity Research356 days ago
    A well-known umbrella entity of diversified businesses, RIL stock seems more promising for long term investment period. The company’s ambition to be a zero debt entity within 18 months and upcoming launch of JioGigaFiber will also support the potentials of the stock in near future. Furthermore, recent deal with Saudi Aramco seems to add an additional feather in the company’s crown. The stock is fundamentally very strong exhibiting Rs. 63.47 as a TTM based EPS and reasonable P/E at 20.09x for the same period. Its 5 year based ROE, ROCE and ROA are also healthy at 11.68%, 12.07% and 4.39% sequentially. Search Google for NIVEZA FREE Share Market Tips today.
    Alpha 357 days ago
    High , high and high. Greatest company
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