Reliance Industries rose 4.83% at Rs 778.75 at 12:04 IST on BSE on reports benchmark Singapore gross refining margins have strengthened from the 2nd week of July 2012 to average at $8 a barrel from $6.7 a barrel in the quarter ended June 2012.
Meanwhile, the BSE Sensex was up 216.53 points, or 1.26%, to 17,414.46.
On BSE, 7.33 lakh shares were traded in the counter as against an average daily volume of 3.96 lakh shares in the past one quarter.
The stock hit a high of Rs 785 and a low of Rs 745.55 so far during the day. The stock had hit a 52-week high of Rs 902 on 4 November 2011. The stock had hit a 52-week low of Rs 671 on 8 May 2012.
The stock had outperformed the market over the past one month until 3 August 2012, gaining 0.94% compared with the Sensex's 1.31% fall. The scrip had also outperformed the market in past one quarter, rising 0.55% as against 0.27% rise in the Sensex.
The large-cap company has an equity capital of Rs 3236.52 crore. Face value per share is Rs 10.
Reliance Industries (RIL) bought back 3.66 crore shares for about of Rs 2617.57 crore till 24 July 2012 under its ongoing share buyback program. RIL has set maximum buyback price of Rs 870 per share. The company has set aside Rs 10440 crore for share buyback. The buyback program opened on 1 February 2012 and closes on 19 January 2013. RIL chairman Mukesh Ambani said at the company's Annual General Meeting in June 2012 that the company's buyback program represents a highly accretive use of cash by the company and it will supplement earnings growth from operations, for higher EPS (earnings per share), in the near future.
RIL's net profit fell 21% to Rs 4473 crore on 13.4% increase in turnover to Rs 94926 crore in Q1 June 2012 over Q1 June 2011. The company reported a gross refining margin (GRM) of $7.60 per billion barrels (bbl) in the quarter ended 30 June 2012, compared with $7.60 in the quarter ended March 2012 and $10.30 in the quarter ended 30 June 2011.
RIL's outstanding debt as on 30 June 2012 was Rs 73,213 crore compared to Rs 68259 crore as on 31 March 2012. The increase in debt in rupee terms is mainly on account of change in exchange rates. Net gearing as on 30 June 2012 was 1.3% as compared to nil as on 31 March 2012. RIL had cash and cash equivalents of Rs 70732 crore. These are primarily invested in fixed deposits, certificate of deposits with banks, mutual funds and Government securities / bonds.
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