In its latest equity research report, Nirmal Bang, an equity research firm said that Reliance Capital can give good returns in the coming days.
According to Nirmal Bang Research, interested traders can buy the stock with a strict stop loss of Rs 828.
Today (Sep 02), the shares of the company opened at Rs 859.35 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 30.35 & 29.44 respectively. The share price has seen a 52-week high of Rs 1433.25 and a low of Rs 274.20 on BSE.
India`s leading private sector financial services company, Reliance Capital Limited posted a decline of 56% in its consolidated net profit for the three month ended June 2009.
RCL registered a profit of Rs 1.51 billion for the period under review as against Rs 3.43 billion for the quarter ended June 30, 2008.
The company's total income during the quarter dropped marginally 3% to Rs 14.69 billion.
For the quarter ended June 30, 2009, lower capital gains were reserved, due to the planned partial stake sale later this year in Reliance Life Insurance, subject to compulsory authorizations.
Being the sole beneficiary of Reliance Life Insurance, the full advantage of this value unlocking will figure out a part of RCL's net profit for the existing financial year.
