Active Stocks
Fri Apr 19 2024 15:56:00
  1. Tata Steel share price
  2. 162.10 1.31%
  1. Tata Motors share price
  2. 963.20 -0.84%
  1. NTPC share price
  2. 350.90 -0.14%
  1. ITC share price
  2. 424.80 1.40%
  1. Power Grid Corporation Of India share price
  2. 281.70 0.54%
Business News/ Markets / Stock Markets/  New Peak! Reliance Industries share price hits another record high; mcap hits 20 lakh crore
BackBack

New Peak! Reliance Industries share price hits another record high; mcap hits ₹20 lakh crore

Reliance Industries' share price hit a record high on Friday with its market capitalisation crossing ₹20 lakh crore. Reliance shares rallied as much as 3.4 percent to a fresh high of ₹2,949.90 apiece on the BSE.

Reliance Industries' share price hit a record high on Friday with its market capitalisation crossing ₹20 lakh crore. (REUTERS)Premium
Reliance Industries' share price hit a record high on Friday with its market capitalisation crossing 20 lakh crore. (REUTERS)

Reliance Industries' share price hit a record high on Friday with its market capitalisation crossing 20 lakh crore. Reliance shares rallied as much as 3.4 percent to a fresh high of 2,949.90 apiece on the BSE.

On NSE as well, Reliance's share price jumped 3.4 percent to a record high of 2,949.80. It has surged almost 47 percent from its 52-week low of 2,012.14, hit on March 20, 2023.

RIL stock was the top contributor on the Sensex, contributing nearly 157 points to its gains. The BSE Sensex index was trading 716 points, or 1 percent higher at 72,361.

Read here: Stock market today: Nifty 50 jumps 2%, hits all-time high: 4 reasons why

With its market capitalisation crossing 19.6 lakh crore, Reliance Industries is the most valued company in the Indian stock market. The stock recently crossed the 19 lakh crore mark on January 29.

Reliance shares have gained over 10 percent in January. It has also been positive in February, extending gains for the fourth straight month since November 2023. Between November 2023 and today, the stock has jumped 29 percent. Meanwhile, it has advanced over 34 percent in the last 1 year.

On January 19, the billionaire Mukesh Ambani-led energy-to-telecom conglomerate reported an 11 percent year-on-year (YoY) rise in net profit at 19,641 crore for the third quarter of FY24.

Read here: HUDCO share price extends post-budget rally. Jumps 30% in two days

The company’s gross revenue in Q3FY24 increased 3.2 percent YoY to 2,48,160 crore led by continued growth momentum in consumer businesses. The revenue was largely led by retail, oil & gas segments, while the oil-to-chemicals (O2C) arm’s revenue declined on account of lower price realisation.

The company's earnings before interest, taxes, depreciation, and amortization (EBITDA) in the December quarter rose 17 percent to 44,678 crore, driven by the retail and oil & gas segment.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 02 Feb 2024, 12:44 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App