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Sep 18, 2013, 08.50 AM IST | Source: PTI

We need to look beyond gloom & doom, says Mukesh Ambani

Reliance Industries, chairman Mukesh Ambani at the Giants International 41st anniversary celebrations, said that India needs a positive and inclusive mindset. He expressed confidence that despite all the negativity India will become a major power.

We need to look beyond gloom & doom, says Mukesh Ambani

Sounding confident that the economy will overcome the current crisis, Reliance Industries , chairman Mukesh Ambani today said there is a need to look beyond the gloom and doom. "India should look beyond the gloom and doom," Ambani said at the Giants International 41st anniversary celebrations and awards function here tonight.

He was addressing as the chief guest at the function. Stating that India needs a positive and inclusive mindset, Ambani expressed confidence that despite all the negativity India will become a major power.

Also read: RIL slams DGH move to snatch gas discoveries as arbitrary

"I have realised that by focusing on obstacles, you don't reach your goals. Instead focus on your goals to overcome obstacles," he said. After going through a financial turmoil for almost a year, greenshoots have appeared in the economy of late, giving a hope of recovery.

After contracting for two straight months, industrial production entered the positive zone in July, recording a growth of 2.6 per cent on account of improved performance of manufacturing and power sectors.

The IIP data revealed that out of the 22 industry groups in the manufacturing sector, as many as 11 posted positive growth rates in July. Besides, snapping a nine-month streak of decline, domestic passenger car sales also grew by 15.37 per cent to 1,33,486 units in August this year, compared to 1,15,705 units in the same month last year.

Reliance stock price

On October 23, 2014, Reliance Industries closed at Rs 952.95, up Rs 7.00, or 0.74 percent. The 52-week high of the share was Rs 1142.50 and the 52-week low was Rs 794.00.


The company's trailing 12-month (TTM) EPS was at Rs 69.66 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 13.68. The latest book value of the company is Rs 609.28 per share. At current value, the price-to-book value of the company is 1.56.

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