Reliance Industries rose 1.85% to Rs 1,651.50 at 15:05 IST on BSE after the company announced the launch of JioPhone, a 4G VoLTE-enabled feature phone, at an effective price of Rs zero.
The outcome of the AGM was disclosed to the stock exchanges after market hours on Friday, 21 July 2017.Meanwhile, the S&P BSE Sensex was up 188.33 points or 0.59% at 32,217.22.
High volumes were witnessed on the counter. On the BSE, 7.07 lakh shares were traded on the counter so far as against the average daily volumes of 4.14 lakh shares in the past one quarter. The stock had hit a high of Rs 1,624.80 in intraday trade, which is also a 52-week high for the stock. The stock had hit a low of Rs 1,586.20 so far during the day. The stock had hit a 52-week low of Rs 932 on 9 November 2016.
The stock had outperformed the market over the past one month till 21 July 2017, gaining 11.85% compared with 2.38% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.32% as against Sensex's 9.07% rise. The scrip had also outperformed the market in past one year, surging 57.56% as against Sensex's 15.58% rise.
The large-cap company has equity capital of Rs 3251.74 crore. Face value per share is Rs 10.
Reliance Industries (RIL) held its 40th annual general meeting (AGM) on Friday, 21 July 2017. RIL Chairman Mukesh Ambani announced the launch of JioPhone, which is a 4G VoLTE-enabled feature phone.
Reliance Jio JioPhone will hit the shelves starting the first week of September, and pre-orders begin 24 August 2017, he said. Reliance Jio has close to 100 million paid customers, added Ambani. Reliance Jio Infocomm (Jio) is a telecom subsidiary of RIL.
RIL's consolidated net profit rose 28.3% to Rs 9079 crore on 28.4% to Rs 83471 crore in Q1 June 2017 over Q1 June 2016.
RIL is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.
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