Religare Capital positive on Reliance Industries

Manoj Singla, MD & Co- Head Product, Religare Capital Markets Ltd is positive on Reliance Industries (RIL).

Singla told CNBC-TV18, "Reliance numbers are obviously weak and the stock is showing you that. As a house we are positive on Reliance, we believe the GRMs have bounced back and we think going forward the operating performance will actually improve plus the buyback should provide some support to the share price. On a 9-12 months view we are actually positive on Reliance."
The company's trailing 12-month (TTM) EPS was at Rs 61.97 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 12.41. The latest book value of the company is Rs 446.11 per share. At current value, the price-to-book value of the company was 1.72. The dividend yield of the company was 1.04%.
The share touched its 52-week high Rs 1,065.55 and 52-week low Rs 687.55 on 01 Apr, 2011 and 02 Jan, 2012, respectively. Currently, it is trading -27.71% below its 52-week high and 12.03% above its 52-week low. Market capitalisation stands at Rs 252,210.85 crore.