New Delhi: Reliance Industries (RIL) on Monday said that the company will announce its financial results for March quarter on April 30. The oil-to-telecom major will also consider a proposal to issue equity shares to existing shareholders on rights basis.
RIL also added that it will recommend dividend on equity shares.
Brokerage firm Kotak Institutional Equities projects 1.4 per cent year-on-year (YoY) growth in adjusted profit after tax of RIL on 11.80 per cent rise in revenue.
On the other hand, Dolat Capital sees 66.10 per cent YoY growth in RIL’s telecom arm Reliance Jio on 41.50 per cent rise in sales.
Of late, shares of RIL hogged the limelight after Facebook last week announced an investment of $ 5.7 billion to buy 9.99 per cent stake in Reliance Jio.
For the day, shares of RIL closed 0.91 per cent higher at Rs 1,430.30. On the other hand, the BSE Sensex settled 415.86 points or 1.33 per cent higher at 31,743.08.