Reliance Industrial Infrastructure Ltd (RIIL) shares saw a sharp uptick in Monday's trade. The stock soared 17.33 per cent to hit a day high of Rs 1,210. It was last seen trading 15.52 per cent higher at Rs 1,191.25. At this price, the scrip has shed 15.97 per cent on a year-to-date (YTD) basis.
During the September 2024 quarter (Q2 FY25), the company's consolidated net profit came at Rs 3.12 crore, down 1.89 per cent from Rs 3.18 crore in the year-ago period. Total income slipped 11.90 per cent to Rs 18.37 crore in Q2 FY25 as against Rs 20.85 crore in the corresponding period last year due to lower utilisation of infrastructure assets.
On technical setup, the counter looked 'bullish' on charts. Immediate resistance could be seen in the Rs 1,220-1,225 range.
Osho Krishan, Senior Research Analyst - Technical & Derivatives at Angel One, said, "A decisive breakthrough above Rs 1,220 could only dictate the next leg of the countertrend."
Sebi-registered research analyst AR Ramachandran said, "RIIL stock price is bullish on daily charts with strong support at Rs 1,058. Next resistance on the counter will be at Rs 1,225 in the near term."
The counter traded higher than the 5-day, 10-, 20-, 30-day and 50-day simple moving averages (SMAs) but lower than the 100-day, 150-day and 200-day SMAs. The counter's 14-day relative strength index (RSI) came at 60.51. A level below 30 is defined as oversold while a value above 70 is considered overbought.
The company's stock has a price-to-equity (P/E) ratio of 149.23 against a price-to-book (P/B) value of 3.63. Earnings per share (EPS) stood at 6.91 with a return on equity of 2.43.
The scrip saw high trading volume on BSE as around 94,000 shares were seen changing hands. The figure was higher than the two-week average volume of 11,000 shares. Turnover on the counter came at Rs 10.93 crore, commanding a market capitalisation (m-cap) of Rs 1,790.48 crore.
RIIL is mainly engaged in the business of setting up and operating industrial infrastructure. RIIL is led by Mukesh Ambani, the chairman of Reliance Industries Ltd (RIL). As of September 2024, promoters held a 45.43 per cent stake in the company.