Reliance Industries Limited (RIL) witnessed a significant rally in its shares on Monday, with a surge of over 3 percent. This solid performance led to an astonishing increase of approximately Rs 67,000 crore in the company's market valuation within minutes. Over the past six days, the total increase in valuation has reached Rs 1. 14 lakh crore, reflecting strong investor confidence in the conglomerate's diverse business segments.
Share Price Jumps
RIL's shares climbed 3, while 50 percent to Rs 1466. 50 on the BSE, opening at Rs 1,440. Similarly, on the National Stock Exchange, the company's shares traded at Rs 1,466. 70, also up by around 3. 50 percent. This upward trend was a direct response to the company's impressive September quarter results, announced last Friday, which exceeded market expectations.
Strong Q2 Financial Performance
For the September quarter, RIL reported a 9. 6 percent year-on-year increase in consolidated net profit, reaching Rs 18,165 crore. This growth was primarily driven by the strong performance of its consumer-centric retail and telecom businesses, coupled with a notable improvement in its core oil-to-chemicals (O2C) segment. Jio Platforms Limited, RIL's telecom and digital arm, also saw its. Profit rise by 13 percent to Rs 7,379 crore in Q2. The addition of new subscribers and an increase in average revenue per user (ARPU) boosted the telecom sector, while improved store operational metrics led to a 22 percent rise in retail income.
Positive Market Impact
The rally in RIL shares had a ripple effect across the broader stock markets. The 30-share BSE Sensex surged over 438. 20 points or 0. 52 percent to trade at 84,390. 39 during morning trade, later peaking at over 84,656. 56 points with a gain of more than 700 points. Concurrently, the 50-share NSE Nifty also advanced by 135, while 40 points or 0. 55 percent to 25,842. 35, hitting an intraday high of 25,926. 20 points. This highlights RIL's significant influence as a market mover and its ability to uplift overall market sentiment.
