RIL rises over 1 pc on best Q1 numbers
Reliance Industries today surged over 1 per cent in the early trade on BSE, a day after it reported its best-ever quarterly profit.business Updated: Jul 28, 2010 11:10 IST
Reliance Industries on Wednesday surged over 1 per cent in the early trade on BSE, a day after it reported its best-ever quarterly profit.
Boosted by the robust June quarter numbers, shares of the country's most valued firm rose 1.44 per cent to touch a high of Rs 1,068.70 on the Bombay Stock Exchange.
Similarly, the scrip climbed 1.91 per cent to Rs 1073.65, on the National Stock Exchange.
"The company has posted impressive quarter earnings which should be good for the overall market. However, I feel the stock will remain flat in the short-term," CNI Research CMD Kishore P Ostwal said.
Meanwhile, the broader gauge Sensex was trading flat at 18,071.58, down 0.03 per cent, from the previous close.
On Tuesday, RIL had posted a 32.3 per cent rise in profit and a whopping 85 per cent jump in revenues in the quarter to June--its highest-ever quarterly net profit and revenue figures--helped by robust performance of its refining and petrochemicals businesses.
While the company saw its net profit touching Rs 4,851 crore for the quarter ended June against Rs 3,666 crore in the corresponding quarter last year, its total income rose to Rs 58,950 crore from Rs 31,896 crore in the same quarter a year-ago.