Reliance Industries rose 1.48% to Rs 982.30 at 12:45 IST on BSE after the company said it has repaid the third installment of redemption proceeds on the outstanding debentures.
The announcement was made after market hours on Tuesday, 24 November 2015. The stock market remained shut yesterday, 25 November 2015, on account of Gurunanak Jayanti.
Meanwhile, the S&P BSE Sensex was up 156.06 points or 0.61% at 25,931.80.
On BSE, so far 1.24 lakh shares were traded in the counter as against average daily volume of 3.09 lakh shares in the past one quarter.
The stock hit a high of Rs 984.60 and a low of Rs 968.45 so far during the day. The stock had hit a 52-week high of Rs 1,067 on 23 July 2015. 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 24 November 2015, rising 1.27% compared with Sensex's 6.17% fall. The scrip had also outperformed the market in past one quarter, surging 16.77% as against Sensex's 0.13% rise.
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The large-cap firm has equity capital of Rs 3239.06 crore. Face value per share is Rs 10.
Reliance Industries (RIL) said that it has on 24 November 2015, repaid the third installment of redemption proceeds on the outstanding debentures. After the payment of the third installment of redemption, the face value of the debentures has been reduced from Rs 6.66 lakh to Rs 5 lakh per debenture effective 24 November 2015, RIL said. It may be recalled that RIL had issued 8,000 secured redeemable non-convertible debentures of Rs 10 lakh each aggregating Rs 800 crore in November 2003. The debentures carry a coupon of 6.25%. As per the terms of issue of the debentures, the debentures shall be redeemed in six equal annual installments starting from the end of the tenth year from the date of allotment i.e. 24 November 2003.
Shares of RIL were on a roll recently. The stock has surged 7.66% in five trading sessions from a recent low of Rs 912.35 on 18 November 2015.
On consolidated basis, RIL's net profit rose 12.5% to Rs 6720 crore on 35.4% decline in net sales to Rs 70901 crore in Q2 September 2015 over Q2 September 2014.
RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.
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