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

Reliance Industries Share Price Soars to Record High

VoM News Desk | January 29, 2024 | 11:49 AM IST | Breaking News | Follow on Google News

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)

VoM News Desk

VoM News is an online web portal in jammu Kashmir offers regional, National & global news.