6 days Ago By Moneycontrol
Shares of Mukesh Ambani-led Reliance Industries Ltd extended their post-March quarter earnings' gains in April 29 trading session, adding Rs 1.4 lakh crore to its market capitalisation in two days. The conglomerate reported a 2.
4 percent rise in the March quarter net profit, thus beating earnings estimates On April 29, the blue-chip stock climbed 2.73 percent to an intraday high of Rs 1,406.1 per share on the NSE.
On the BSE, it surged 2.77 percent to a high of Rs 1406.4, it's highest level since October 2024.
The stock gained 20 percent in the last 20 sessions. On April 28, the stock surged 5.1 percent, its biggest single-day gain since June 2024.
The shares of the oil-to-chemicals conglomerate RIL have been on uptrend for the last two trading sessions and are up over 8 percent during this period. The company's total market valuation has jumped to over Rs 19 lakh crore. The index heavyweight emerged as the biggest gainer among the Sensex and Nifty firms on Monday and continued to be biggest benchmark gainer on Tuesday too.
A sharp uptick in the shares of the company was seen after the net profit attributable to shareholders grew 2.4 percent to Rs 19,407 crore for Q4 FY25, beating Street expectations, as a result of lower depreciation, interest and tax rate. Revenue for the three months ended March 31 climbed 8.
8 percent from a year ago to Rs 2.88 lakh crore, driven by company’s digital services, retail and oil-to-chemicals business. Brokerages have also hiked their target prices following its March quarter earnings report, as a result of its robust performance across segments and higher-than-anticipated results for the O2C segment.
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