Reliance Industries Share Price Soars to Record High, Market Cap Nears ₹19 Lakh Crore

Reliance Industries Share Price Soars to Record High, Market Cap Nears ₹19 Lakh Crore/Reuters

Reliance Industries Share Price Soars to Record High, Market Cap Nears ₹19 Lakh Crore

The market capitalization of Reliance Industries nearing ₹19 lakh crore is a significant milestone, reflecting strong investor confidence and positive sentiment around the company.

Record highs in share prices often indicate favorable market conditions and investor optimism.

Reliance Industries Stocks Soar 3.67% to Reach New Peak of ₹2,810.00 on BSE; NSE Records 3.96% Surge to ₹2,813.40 Per Share.

Reliance Industries leads the Indian stock market with a market capitalization exceeding ₹19 lakh crore. Over the past month, Reliance shares rose by nearly 9%, and the three-month surge is over 24%, resulting in a three-year return of over 53%.

On January 19, Reliance Industries (RIL) reported an 11% YoY increase in Q3FY24 net profit at ₹19,641 crore.

The 3.2% YoY rise in gross revenue to ₹2,48,160 crore was driven by growth in consumer businesses, particularly in retail and oil & gas. The oil-to-chemicals (O2C) arm’s revenue declined due to lower price realization.

As of 12:00 pm, Reliance shares traded 4.11% higher at ₹2,821.85 on the BSE, with a market cap of ₹19.08 lakh crore.

It would be interesting to observe how market dynamics and company performance contribute to Reliance Industries’ continued growth in the coming days.

(More To Come)