Rose more than double the level of march
RIL’s stock has increased more than two-and-a-half times from the March low of Rs 867.82. On Monday it had gone up to Rs 2,198. The market capitalization of the company was also Rs 13.78 lakh crore. This is almost 55 percent more than the level of March. In fact, RIL had raised more than Rs 1.5 lakh crore by selling about 33 percent stake in Jio platform. Facebook and Google have primarily invested in this. Both have invested 77 thousand crores for a 17 percent stake.
The stock is trading at a PE of 47.2.
Edelweiss had described the stock as positive in 2016 and after four years the stock has grown significantly. RIL is currently trading at a PE of 47.2 on trailing 12 months. It is quite expensive. So far, all the brokers who had advised to buy it have exceeded the target.
The result was earlier on 23, now it will come on 30
By the way, tell that this stock is at a very expensive level. Also, the June quarter results are also likely to be poor. The company had earlier said that it would release its results on July 23 on the exchange. Later it has been extended to 30 July. Actually, Thursday is 30th July and expiry is on this day only. In such a situation, it is believed that the company’s result will be bad and the shares will be under pressure.