Reliance Industries rose 1.56% to Rs 890.85 at 13:03 IST on BSE after Chairman Mukesh Ambani said that Reliance Jio Infocomm will rollout its commercial operations around December this year.
Meanwhile, the S&P BSE Sensex was up 57.11 points or 0.22% at 26,428.09.
On BSE, so far 2.52 lakh shares were traded in the counter as against average daily volume of 3.83 lakh shares in the past one quarter.
The stock hit a high of Rs 892.10 and a low of Rs 878.85 so far during the day. The stock had hit a 52-week high of Rs 1,119 on 11 June 2014. The stock had hit a 52-week low of Rs 796.75 on 30 March 2015.
The stock had outperformed the market over the past one month till 11 June 2015, sliding 2.07% compared with Sensex's 4.13% fall. The scrip had also outperformed the market in past one quarter, advancing 2.49% as against Sensex's 7.98% fall.
The large-cap firm has equity capital of Rs 3236.44 crore. Face value per share is Rs 10.
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Reliance Industries' (RIL) Chairman and Managing Director Mukesh D Ambani at the company's 41st annual general meeting (AGM) held today, 12 June 2015 said that the company's telecom arm Reliance Jio Infocomm will rollout its commercial operations around December this year. The financial year 2016-17 will be the first full year of commercial operations for Jio, Ambani added. RIL has embarked on a journey of investing over Rs 2 lakh crore in building new facilities and creating new businesses that will come to fruition in the next 12 to 18 months. These investments will build new capacities, strengthen its global positions, improve the return on capital and make its existing refinery and petrochemical businesses among the most competitive in the world. The company is also building a brand new business of digital broadband telecom services under the Jio name, Ambani said.
In order to enhance the competitiveness of its existing ethylene crackers at Nagothane, Hazira and Dahej, the company is working aggressively in creating infrastructure for transporting feedstock ethane from the US to India, Ambani said. This will be ready for start-up by December 2016, he added.
RIL plans to re-commission the entire network of petroleum retail outlets by the end of the current financial year. Currently, close to 400 outlets are operational, Ambani said.
With regard to its organised retail business, Reliance Retail this year will be embarking on its next phase of building a high growth trajectory supported with e-commerce and larger geographic coverage, Ambani said.
RIL's consolidated net profit rose 8.5% to Rs 6381 crore on 34.8% decline in net sales to Rs 67470 crore in Q4 March 2015 over Q4 March 2014.
RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.
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