Reliance Industries (RELIANCE:Rs1,787.90) adds Rs175 billion (US$2 billion) in MCap, top heavyweight rise in BSE SENSEX Index 03 July 2020

NEWS BITES - BRIC

Dateline: Friday July 03, 2020

Reliance Industries Ltd. (NSE:RELIANCE), India's largest Integrated oil & gas company by market cap, has increased Rs27.55 (1.6%) from its previous trading session to close at Rs1,787.90. Compared with the BSE SENSEX Index which rose 177.7 points (0.5%) in the day, the relative price increase was 1.1%. The volume of 14.6 million shares was close to average trading. It posted the highest rise in MCap (Rs174.6 billion (US$2.3 billion)) with the most influence on the BSE SENSEX Index. There were 14,441,287 shares worth Rs25.7 billion (US$344.7 million) traded today.

RELIANCE INDUSTRIES DIVIDENDS

The shares increased 1.6% in the 1 trading session since the ex-dividend date of July 02. The company paid a dividend of Rs6.50 per share. Based on dividends of Rs13.0 per share for the trailing twelve months and the last price of Rs1,787.90 the dividend yield is 0.7%.

Stock Summary (traded in INR)

Currency1 USD = 74.65 INRSectorIntegrated Oil & Gas
Jul 03 closeRs1,787.90Shares Outstanding6,339,236,399
Ave Daily Volume14,625,257 shares% Held by 2,292,784 Public shareholders50%
52-Week Range864.18 - 1,797.45% Held by 48 Promoters & Promoter Group50%
P/E27Market CapRs11,333.9 billion [USD151.8 billion]
Dividend Yield0.7%EPS Growth (FY2019 vs FY2018)9.6%

Primary Exchange and Other Listings: Trading Currency and Volume (Excl ADR)

ExchangeTickerCurrencyLastADVTVol % of TotalToday's VI
National Stock ExchangeRELIANCEINR1,787.913,143,19794.11
Bombay Stock Exchange500325INR1,787.51,484,4245.90.6
Total100.00

ADVT= Avg. Daily Volume of Trading; VI= Volume Index (1 is avg)

Financials Summary: EPS up 9.6% to Rs66.19 in FY2019

+ Net profit was up 9.7% from USD4.8 billion in FY2018 to USD5.2 billion in FY2019.

+ Earnings Per Share (EPS) was up 9.6% from Rs60.37 in FY2018 to Rs66.19 in FY2019.

Year ended MarFY2019FY2018FY2017
Sales (USD B)78.155.245
Pretax (USD B)7.36.55.3
Net (USD B)5.24.83.9
EPS (INR)66.192560.367850.0951

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INDEX

SECTION 1 News In The Past Quarter

SECTION 2 Corporate Profile and Independent Ratings

SECTION 3 Today's Bullish Signals

SECTION 4 Ongoing Bullish Parameters

SECTION 5 Today's Bearish Signals

SECTION 6 Ongoing Bearish Parameters

Click here to view the following

SECTION 7 Patents

SECTION 8 Financials FY 2019

SECTION 9 Peer Group Analysis & Ranking

SECTION 10 News Archives (Nov 2018 - Mar 2020)

Glossary

SECTION 1 News In The Past Quarter

1.1 Dividends

June 25: Reliance Industries announces dividend

Reliance Industries today announced a final dividend of Rs6.50 per share. The ex-dividend date is Thursday, July 02.

1.2 Share Capital

July 01: Reliance Industries: Listing of further issue

In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from July 02, 2020 along with the designated security codes thereof shall be as specified in the Annexure.

In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure.

For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure.

This circular shall be effective from July 02, 2020.

Source: National Stock Exchange of India

May 11: Reliance Industries announces Right Issue

Reliance Industries has announced a 15 for 1 rights issue effective Wednesday, May 13. To subscribe to new shares the price has been fixed at Rs1,257.0.

May 07: Reliance Industries: Listing of further issue

In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from May 08, 2020 along with the designated security codes thereof shall be as specified in the Annexure.

In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure.

For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure.

This circular shall be effective from May 08, 2020.

Source: National Stock Exchange of India

April 30: Reliance Industries: Listing of further issue

In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from May 04, 2020 along with the designated security codes thereof shall be as specified in the Annexure.

In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure.

For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure.

This circular shall be effective from May 04, 2020.

Source: National Stock Exchange of India

April 13: Reliance Industries: Listing of further issue

In pursuance of Regulation 3.1.1 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the list of securities further admitted to dealings on the National Stock Exchange (Capital Market segment) with effect from April 15, 2020 the designated security codes thereof shall be as specified in Annexure.

In pursuance of Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A, it is hereby notified that the respective lot sizes in respect of securities above shall be as specified in Annexure.

For the purpose of trading on the system, the security shall be identified only by its designated codes and trading in such securities shall be in such lot sizes as specified in Annexure.

This circular shall be effective from April 15, 2020.

Source: National Stock Exchange of India

1.3 Acquisitions

April 28: Reliance Industries: Acquisition

Reliance Industries Limited has informed the Exchange about Acquisition of SkyTran Inc

Source: National Stock Exchange of India

1.4 Press Releases

June 06: Reliance Industries: Analysts/Institutional Investor Meet/Con. Call Updates

Reliance Industries Limited has informed the Exchange regarding Analysts/Institutional Investor Meet/Con. Call Updates

Source: National Stock Exchange of India

1.5 People's News

Thu Jun 18, 2020

Nita M. Ambani was appointed Director of Reliance Industries (NSE:RELIANCE) six years ago on June 18, 2014.

Fri Jun 12, 2020

Raminder Singh Gujral was appointed Independent Director of Reliance Industries (NSE:RELIANCE) five years ago on June 12, 2015. The present value of INR1,000 (PV1000) invested on the appointment date is Rs3,659, for a capital gain of Rs2,552 and dividend reinvested of Rs107. In the same period the shares were up 255.2% from Rs428.0 to Rs1,520.3.

1.6 Stock Buzz

News DateHeadlinePublisher
Jun 19, 2020Reliance Industries partly paid shares rally 22% in just 5 days; stock jumps 10% todayThe Financial Express

SECTION 2 Corporate Profile and Independent Ratings

2.1 Activities

Reliance Industries Limited (RIL) is India's largest private sector enterprise, with businesses in the energy and materials value chain. The Group's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail, infotel and special economic zones. Reliance enjoys global leadership in its businesses, being the largest polyester yarn and fibre producer in the world and among the top five to ten producers in the world in major petrochemical products.

2.2 Contact Details

Websitehttp://www.ril.com
Physical Address3/F Maker Chambers IV 222 Nariman Point Mumbai, 400 021 India
Phone022-22785000
Fax22785111/22852214
Emailinvestor_relations@ril.com

2.3 Industry & Sector

Classification LevelName of Sector
Business SectorEnergy - Fossil Fuels
Industry GroupOil & Gas
IndustryIntegrated Oil & Gas
ActivityIntegrated Oil & Gas
Economic SectorEnergy

2.4 Independent Ratings

+ Fortune 500:

Reliance Industries Ltd. was ranked 203 by total revenues in the Fortune 500 annual list for 2017; an improvement over a year from rank 215 in 2016.

+ Platts 250:

It is the 3rd largest company in the Platts Top 250 Global Energy Company Rankings.

+ Newsweek 500:

It was ranked 438 by Newsweek and Corporate Knights Capital in the World's 500 Greenest Companies 2016. It had outstanding scores of 5% in Carbon productivity.

+ Industryweek 1000:

It is a new entrant in the Industry Week list of the world's largest 1000 manufacturers by Revenues in 2016, ranked 83.

+ Forbes 2000:

It is the 109th largest by revenue in the Forbes Global 2000.

+ FT 500:

It is the 75th largest by revenue in the FT Global 500.

+ IHS Energy 50:

It was ranked 25 in IHS Energy's list of Top 50 Energy Companies 2013; a deterioration over a year from rank 21 in 2012.

SECTION 3 Today's Bullish Signals

3.1 Momentum Up 2.9% Past Week

Reliance Industries outperformed the BSE SENSEX index in 3 out of 5 days. The price ranged between a low of 1,697.73 on Tuesday, Jun 30 and a high of 1,760.35 on Thursday, Jul 02.

DayReliance IndustriesClose price [INR]Price change %Relative change %Comment
ThursdayIn top 2% performers of BSE SENSEX Index in past month1,760.351.70.5Week-high of 1,760.35
WednesdayRELIANCE:Rs11,731.12.00.5Top Rise
TuesdayLoses Rs121 billion (US$2 billion) in MCap, steepest heavyweight fall in BSE SENSEX Index1,697.73-1.1-1.0Week-low of 1,697.73 Steepest Fall
MondayDecreases 1.1%1,716.7-1.1-0.5Price fall on slipping relative strength
FridayRELIANCE:Rs11,735.131.40.4Price/MAP200 above 1 and rising

3.2 Momentum Up 16.4% Past Month

The past month witnessed the best 2 weeks in the past quarter. In the past quarter the week beginning Monday April 20 saw the highest weekly rise of 15.8% for a relative price increase of 16.6%. The rise was propped up by volume of 3.3 times average.

The Best 3 weeks in the past quarter:

Mon-FriChange %BSE SENSEX index Change %RPC %Vol Ind [1 is avg]
Apr 20-2415.8-0.816.63.3
Jun 15-1910.72.87.92
Jun 01-0585.82.31.1

3.3 Rank in the top 3% by Relative Valuation in the Indian market

DescriptionValueRank
EV/EBITDA27.2In Top 3%

3.4 Rank in the top 24% by Price Performance in the Indian market

DescriptionValueRank
Price/MAP2001.27In Top 10%
1-week Price Change %3.0In Top 24%

3.5 Rising open interest with rising price

Open Interest Trend

Same day trend: The price increased 1.6% from Rs1,760.35 to Rs1,787.90; Open interest has increased 0.3% from 64,851,595 to 65,073,795. A price rise combined with an increase in open interest suggests there is new money coming into the market from existing or new buyers. This is a bullish signal.

DurationOpen Interest change %Price change %Interpretation
1-day0.31.6Strong Market

3.6 Top three traded call options [1 contract is 500 shares]

Exercise PriceExercise DateOption PriceChange %Contracts Traded
Rs1,800.0July 30, 2020Rs60.6015.414441
Rs1,900.0July 30, 2020Rs27.0514.65549
Rs2,000.0July 30, 2020Rs11.3015.34980

3.7 Uptrend

Price/Moving Average Price of 1.27 and positive MACD:

- The price to 200-day MAP ratio is 1.27, a bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of Rs1,539.80 is higher than the 200-day MAP of Rs1,406.54, a bullish indicator. The 200-day MAP has increased to Rs1,406.54. An increase is another bullish indicator.

- The Moving Average Convergence Divergence (MACD) indicator of 12-day Exponential Moving Average (EMA) of 1,713.82 minus the 26-day EMA of 1,643.56 is positive, suggesting a bullish signal. Both the 12-day EMA as well as the 26-day EMA are rising, another bullish signal.

- The price to 50-day EMAP ratio is 1.1, a bullish indicator. In the past 50 days this ratio has exceeded 1.1, five times suggesting further upside. The 50-day EMAP has increased to Rs1,553.03. An increase is another bullish indicator.

Past Month:

- Rises to Falls: In the past month the number of rises outnumbered falls 14:9 or 1.6:1.

Past Quarter:

- In the last three months the stock has hit a new 52-week high seven times, pointing to a significant uptrend.

Relative Strength (6 months) 78 percentile:

- The stock has a 6-month relative strength of 78 in the Indian market of 2,843 stocks indicating it has outperformed 78% of the market.

3.8 Undervaluation

Price/Earnings of 27 < sector avg of 29.1:

- Price/Earnings of 27 versus sector average of 29.1 and market average of 29.9.

Earnings Yield of 3.7% > Indian ave of 3.3% < Bond Yield of 5.8%:

- Earnings yield of 3.7% is greater than the Indian average earning yield of 3.3%.

- The earnings yield of 3.7% is below the 10-year bond yield of 5.8%.

(All figures in %)

Earnings Yield3.7
Indian avg3.3
Dividend Yield0.7
Bond Yield5.8

MCap/Total Assets:

- Tobin's Q Ratio, defined as MCap divided by Total Assets, is 1.1. Compared with the rest of the market the stock is undervalued.

Brand Value/Enterprise Value:

- Brandirectory have estimated Reliance Industries brand value at Rs458.4 billion (US$6.1 billion). The Brand Value represents 3.1% of the estimated Enterprise Value of Rs15,006.7 billion (US$201 billion). Enterprise Value is defined as MCap of Rs11,333.9 billion plus net debt of Rs3,672.7 billion.

3.9 Other Bullish Signals

- Net profit margin has averaged 8.2% in the last 3 years. This is better than the sector average of 7.8% and suggests a high margin of safety.

SECTION 4 Ongoing Bullish Parameters

4.1 Past four-years

- Reliance Industries rose for a fourth consecutive year. In the past four years it has risen Rs1,316.58 (279.3%).

4.2 Rank in the top 1% by Size in the Indian market

DescriptionValueRank
Ave daily TurnoverRs25.7 billion (US$344.7 million)In Top 1%
MCapUSD151.8 billionIn Top 1%
Annual RevenueRs5,896.6 billion (US$79 billion)In Top 1%

4.3 Annualised Period-based Total Shareholder Returns [TSR %]: The Best Periods with TSR > 13.8%

TSR %1 yr3 yrs5 yrs10 yrs
RELIANCE.NSE43.439.430.713.9

4.4 Present Value of Rs1000 Invested in the Past [3 Mo, 1 Yr, 3 Yrs]; The Best Periods with PVRs1000 > 1,433

PVRs1,0003 mo ago1 yr ago3 yrs ago
RELIANCE.NSERs1,688Rs1,434Rs2,738
Integrated Oil & Gas sectorRs1,656Rs1,391Rs2,539
BSE SENSEX IndexRs1,308Rs904Rs1,154

4.5 The Best Periods [3 Mo, 1 Yr, 3 Yrs] with Price Change % > 41.9

3-Year price change of 167.6% for Reliance Industries outperformed the change of 16.5% in the BSE SENSEX index for a relative price change of 151.1%.

Price Change %QuarterYear3 Years
Reliance Industries68.142167.6
Integrated Oil & Gas sector65.639.4154.1
BSE SENSEX index30.6-9.516.5

4.6 Moving Annual Return of 43.1% in the past year:

Moving Annual Return was 43.1% in the past year. Based on a dynamic start date of 5 years ago, the real rate of return has averaged 31.9%. The Moving Annual Return has been positive in 4 of the last 5 years.

RELIANCEClose (INR)Dividends (INR)Capital Gain / (Loss) %% YieldAnnual Return %
Jul 031,787.91342143.1
1 Yr ago1,258.78-33.5-33.5
2 Yrs ago942.811.541.11.742.8
3 Yrs ago668.16-41.8-41.8
4 Yrs ago471.325.25(2.7)1.1(1.6)

Close 5 years ago Rs484.40

4.7 MCap: 5-Year Increase of Rs8,070 billion [USD108 billion]

In the past 5 years Market Capitalization has increased by Rs8,069.6 billion (247%) from Rs3,264.4 billion to Rs11,333.9 billion. Based on a dynamic start date of 5 years ago, there has been only 1 decline in MCap over the last 5 years.

PriceMCap (INR B)MCap (US$ B)
LastRs1,787.9011,333.9151.8
1 Year agoRs1,258.788,129.7118
2 Years agoRs942.806,084.688.9
3 Years agoRs668.164,486.869.5
4 Years agoRs471.323,143.646.5
5 Years agoRs484.403,264.451.3

4.8 EPS growth [FY2019 vs FY2018] of 9.6%:

There have been five rises in the past 5 years. Average Annual Compounded rate of growth in EPS for the 5 years was impressive at 11.8%.

FYEPS (Rs)Growth %
201966.829.6
201860.9420.5
2017101.140.4
2016100.7525.8
201580.114.7

4.9 Increased Volume, up 274% in 5 years

In the past five years, Average Daily Volume of Trading (ADVT) has increased 273.9% to 14.6 million shares.

Avg. Daily Volume Traded 12 months ended Jul 03, million shares

YearADVT
202014.6
20199.8
20186.7
20179.3
20163.9

4.10 Increased VWAP, up 188% in 5 years

In the past five years Volume Weighted Average Price (VWAP) has increased by 187.9% to Rs1,344.18. Based on a dynamic start date of five years ago, there has been no decline in VWAP over the last 5 years.

Past five years, 12 months ended Jul 03 (INR)

YearHigh PriceVWAPLow Price
20201797.451344.18864.18
20191391.231192.07940.84
20181010.57868.84672.52
2017710.65598.03450.28
2016522.21466.86391.99

4.11 Increased share turnover, up 444% in 5 years

In the past five years, average daily share turnover has increased 444.1% to Rs19.7 billion (US$263.4 million). This suggests increased liquidity.

Past five years, 12 months ended Jul 03 (INR billion)

YearAverage Daily Turnover
202019.7
201911.6
20186.7
201711.0
20163.6

4.12 Quarterly Trend in Revenue, Net Profit and Net Profit Margin:

- Net Profit margin is positive and has seen consecutive rises in recent quarters. [All figures in %]

Qtr-endedRevenue GrowthNet Profit GrowthNet Profit Margin
Dec 19 [Q3 vs Q2]33.47.6
Sep 19 [Q2 vs Q1]-5.311.57.5
Jun 19 [Q1 vs Q4]13.6-2.56.3

4.13 Revenue, EPS, and EBITDA:

5-years average annualized earnings growth rate of 11.8%

- Revenue growth rate has shown signs of recovery in recent years. [compared with previous year, all figures in %]

FYRevenue GrowthEPS GrowthEBITDA Growth
2019411012
20182321-11
201711-3
2016-192617

4.14 Year-over-year (%) Change in Dividend:

Final dividend for FY 2019 was Rs6.50. The year-on-year change was up 8.3% from Rs6.0 in the previous year FY 2018.

FinalFY 2018FY 2019
Dividend (INR)6.06.5

SECTION 5 Today's Bearish Signals

5.1 Rank in the bottom 23% by Relative Valuation in the Indian market

DescriptionValueRank
Dividend Yield %0.7%In Bottom 23%
Price/Earnings27In Bottom 22%
P/E * P/NTA113.44In Bottom 12%
Price to Book Value4.2In Bottom 11%
Price/Earnings/Growth2.8In Bottom 9%

5.2 Put Call Contracts

The Put/Call ratio has jumped from 0.626 to 0.691 suggesting a downtrend.

Put ContractsCall ContractsPut/Call ratio
Today10,194,94014,763,1700.691
Previous day9,322,30014,888,4100.626

5.3 Downtrend

Today's Volatility:

The 0.5% discount to 12-month high of Rs1,797.45 against the 106.9% premium to 12-month low of Rs864.18 suggests the climb might be peaking.

5.4 Other Bearish Signals

- Total Liabilities/EBITDA of 11 is more than or equal to 5, this compares unfavourably with the Joseph Piotroski benchmark of 5.

- As per the Du Pont analysis, Return on Equity of 10.1% is lower than sector average of 10.1%. This is computed as net profit margin of 6.9% times asset turnover [sales/assets] of 0.59 times leverage factor [total assets/shareholders' equity] of 2.5.

5.5 Overbought/Bearish Signals:

- The Relative Strength Index (RSI) of 75.2 has penetrated the overbought line of 70, suggesting the price gain of 10.9% in the last 14 days is unusually high.

- The stock is overbought according to the Williams % R indicator of -4.4, suggesting the price is close to its 14-day high of Rs1,797.45.

SECTION 6 Ongoing Bearish Parameters

6.1 Rank in the bottom 13% by Growth in the Indian market

DescriptionValueRank
EPS Growth %9.6In Bottom 13%

6.2 Past 4 Quarters Sequential EPS growth averaged 1.6%:

The most recent quarter (Q3/2019) showed a decline of 1.2% in sequential growth of Quarterly EPS. There have been two rises and two declines in the past 4 quarters. Average quarterly growth in the past 4 quarters was muted at 1.6%.

Quarterly ReportEPS (Rs)Growth %
Q3/201918.36-1.2
Q2/201918.599.0
Q1/201917.05-2.5
Q4/201917.491.1

6.3 P/E/G > 1

The price earnings ratio of 27.0 divided by trailing twelve months eps growth of 9.7% corresponds to P/E/G of 2.8 times.

EPS Growth (%)9.65
P/E/G2.8
P/E27.01

6.4 High Debt to Equity (%) and Increasing

The debt to equity ratio of 73.6% is above a safe benchmark figure of 70%. Moreover, it has deteriorated in the past two years.

YearsDebt to Equity (%)
Mar 201573.63
Mar 201671.34
Mar 201769.65
Mar 2018103.27
Mar 201990.79

6.5 Satisfies 2 out of 9 criteria of Joseph Piotroski [pass mark 5]:

- Improvement in current ratio from 0.6 to 0.7.

- Improvement in asset turnover [growth in revenue of 41.4 exceeded growth in assets of 22.8%].

Glossary

ADVT: Average Daily Volume of shares Traded

Annual Return: Dividends Paid In a 12-Month Period/Price at the Beginning of the Period + Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Capital Gain/Loss from n Years Ago to n-1 Years Ago: Capital Gain or Loss over 1 Year/Price 1 Year Ago (%)

Current Ratio: Current Assets/Current Liabiliites (times)

Debt/Equity: Net Debt/Net Assets %

Dividend Yield: Dividend Per Share/Share Price (%)

EBIT Margin : Earnings Before Interest and Tax/Revenue (%)

Earnings Yield: Earnings Per Share/Share Price (%)

Moving Average Price (n periods): Sum of Prices for each Period/Number of Periods

PV1000: Present value of 1000 invested 1 year/'n' years ago

Price Close/Moving Avg Price: Latest Price/Moving Average Price

Price/Earnings: Share Price/Earnings Per Share (times)

Price/NTA: Closing Share Price/Net Tangible Assets Per Share (times)

Price/Sales: Share Price/Sales Per Share (times)

Relative Price Change [RPC]: Relative price change is price change of stock with respect to Benchmark Index

Relative Strength (6 Months): Price close today/Price close 6 months ago, then ranked by percentile within the entire market.

Return on Assets: Net Profit/Total Assets (%)

Return on Equity (Shareholders' Funds): Net Profit/Net Assets (%)

TSR: Total Shareholder Returns is expressed as an annualized rate of return for shareholders after allowing for capital appreciation and dividend

TTM: Trailing 12 Months

Total Liabilities/Total Assets: Total Liabilities/Total Assets

Turnover Rate: value of annual trading volume as a percentage of market capitalisation

Volatility: Highest Price minus Lowest Price/Lowest Price (%)

Volume Index (VI): Number of shares traded in the period/Average number of shares traded for the period

Volume Weighted Average Price (VWAP): The Volume Weighted Average Price (VWAP) is the summation of turnover divided by total volume in the same period.

Created by www.buysellsignals.com