Reliance Industries shares down 51 percent

By SiliconIndia   |   Thursday, November 26, 2009   |    2 Comments
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Bangalore: Reliance Industries ended the trading among top losers with a loss of Rs.1129.15 (51.47 percent). The stock opened its account today at higher node, but could not manage to maintain the momentum throughout the day, and ended the trading at Rs.1064. In all, 1,126,737 shares were traded throughout the day with a current P/E ratio at 12.03. The stock touched a 52-week high of Rs.1245 and low of Rs.549.50. The stock chart for 52-week is given on left. Reliance Industries is an India-based company. The company operates in three business segments: petrochemicals, refining and oil and gas. The petrochemicals segment includes production and marketing operations of petrochemical products, including polyethylene, polypropylene, polyvinyl chloride, poly butadiene rubber, polyester yarn, polyester fiber, purified terephthalic acid, paraxylene, ethylene glycol, linear alkyl benzene, butadiene, acrylonitrile, caustic soda and polyethylene terephthalate. The refining segment includes production and marketing operations of the petroleum products. The oil and gas segment includes exploration, development and production of crude oil and natural gas. The other segment of the company includes textile, retail business and special economic zone (SEZ) development. The subsidiary of the company is Reliance Retail. In April 2009, Reliance Industries bought back Chevron's five percent stake in Reliance Petroleum. With 2,482,701 units of shares, ICICI Pru Infrastructure Fund holds the largest number of shares in Reliance Industries. Out of 29 stock analysts currently following Reliance Industries, consensus recommendation is hold, while four recommended to buy and three suggested to sell.
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