Reliance Inds up 1% ahead of results

The company is scheduled to announce its September quarter earnings today.

Shares of Reliance Industries were trading higher by 1% at Rs. 911.20 on BSE today. The company is scheduled to announce its September quarter earnings today. The scrip opened at Rs. 905 and has touched a high and low of Rs. 913.25 and Rs. 904 respectively. So far 662768(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 292790.12 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1067 on 23-Jul-2015 and a 52 week low of Rs. 796.75 on 30-Mar-2015. Last one week high and low of the scrip stood at Rs. 910.6 and Rs. 882.1 respectively.

The promoters holding in the company stood at 45.23 % while Institutions and Non-Institutions held 31.71 % and 19.82 % respectively.

The stock is currently trading below its 200 DMA.

IIFL expects Reliance Industries to report a GRM of US$8.8/bbl as compared to US$10.4/bbl reported in Q1 FY16. Petrochemical prices too have seen a correction in line with the crude oil prices but IIFL expects the spreads to remain flattish. Crude oil production from MA-1 field and gas production from KG-D6 field are likely to see flat trends during the quarter on a qoq basis, an IIFL preview note adds