The shares of Mukesh Ambani-led Reliance Industries Ltd (RIL) have delivered moderate returns this year. The stock which is ranked on the top in terms of market capitalisation on Sensex and Nifty has risen 9.41% this year. The direction of the index heavyweight has been affected by several factors such as weak global market sentiment due to rising inflation, windfall tax by govt, falling crude oil prices and declining Singapore GRM etc.
Here’s a look at five key things to know about the Reliance Industries stock in 2022.
1. RIL shares have gained 9.41% in 2022 and risen 7.76% in the last one year. The large cap stock hit its all-time high of Rs 2,855 on April 29 this year. The Mukesh Ambani-led conglomerate achieved another feat in the same session becoming the first Indian listed company to cross the Rs 19 lakh crore market capitalisation mark.
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2. RIL shares hit their 52-week low of Rs 2,181 on March 8 this year. The stock took less than just two months to hit its record high. The scrip zoomed a huge 30.90% or Rs 674 during the period.
3.RIL stock has a one year beta of 1.06. This signals the stock has high volatility and carries higher risk. A high-beta stock can rise much faster than the index, but also declines much more steeply during corrections. For example, compared to one year (7.76%) and year-to-date (9.41%) returns of RIL stock, the benchmark Sensex has gained 6.3% and 5.66% in a year and in 2022, respectively.
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4. Shares of Reliance Industries have remained unchanged since the behemoth’s 45th annual general meeting (AGM) held on September 29 this year. The stock closed at Rs 2,596.80 on BSE in the same session. In the current session, the scrip traded at Rs 2,596, delivering flat returns for investors since the AGM.
5. The RIL stock has a Relative Strength Index (RSI) of 43.2. A value below 30 indicates that a stock is oversold and a value above 70 signals that the scrip is overbought. Hence, the stock has a neutral rating in terms of RSI. The conglomerate’s stock has a price to equity ratio of 27.24, which is higher compared to the industry PE of 12.64. This signals that the stock is overvalued.