• Reliance average price/book ratio for 2023 was 2.01, a 29.68% increase from 2022.
• Reliance average price/book ratio for 2022 was 1.55, a 2.52% increase from 2021.
• Reliance average price/book ratio for 2021 was 1.59, a 32.5% decline from 2020.

Price/book ratio can be defined as