Reliance Share Price: Reliance Industries is the most valuable firm on the Indian stock market, with a market capitalization that has surpassed ₹19 lakh crore.
Market Updates : Reliance Industries’ stock has crossed the ₹19 lakh crore market capitalization threshold for the first time thanks to today’s record high share prices. The stock has gained 8% so far this month, following increases of 9% in December and 4% in November of the previous year. Reliance’s stock has increased since 2015 and has gained 11.5% in total in 2023. The stock’s Relative Strength Index (RSI) is at 68, which is below the 70 threshold. The stock will enter overbought territory if this crosses.
Reliance Industries has surpassed ₹19 lakh crore in market capitalization, making it the most valuable business in the Indian stock market.
This comes as Reliance’s Oil & Gas division posted record quarterly EBITDA, with a margin that increased to 86% from 70% the previous quarter, and the company declared a net profit of ₹17,265 crore for the December quarter. “Reliance reported largely in-line earnings during the third quarter of FY24,” stated Emkay Global Financial Services. Although higher Upstream (because of lower opex) and in-line Retail helped to offset the modest shortfall on our estimate for O2C and Jio EBITDA.”
Reliance Industries’ shares are currently trading 3.5% higher at ₹2,798. Reliance shares were up 4.11% at ₹2,821.85 a share on the BSE at 12:00 pm.
Disclaimer : The above article is meant for informational purposes only, and should not be considered as any investment advice.