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Reliance shares at new high, market capitalisation nears 20 trillion: Explained
Reliance Industries Ltd share price: The stocks have experienced a significant uptick in January- rising around 11 per cent.
Shares of Reliance Industries Ltd hit a fresh record high as the company's stock gained over 2.5 per cent. At 10am, the stock was quoting ₹2,930, a fresh record high on the BSE. This was up over 2.5 per cent in the past one month. Reliance Industries Ltd's current market capitalisation stands at ₹19.7 lakh crore. The stocks have experienced a significant uptick in January- rising around 11 per cent, its most substantial monthly increase since March 2022.
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On NSE as well, Reliance's share price jumped 3.4 per cent to a record high of ₹2,949.80. Since March 2023, it has surged almost 47 per cent from its 52-week low of ₹2,012.14.
With its market capitalisation crossing ₹19.6 lakh crore, Reliance Industries is the most valued company in the Indian stock market. It crossed the ₹19 lakh crore mark on January 29.
Reliance' gains in January
Reliance shares gained over 10 percent in January as it extended gains in February as well for the fourth straight month since November 2023. Since then, the stock has jumped 29 percent. In the past one year, the stock has advanced over 34 percent.
Reliance quarterly profits helped its shares?
On January 19, 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. During the period, company’s gross revenue increased 3.2 per cent to ₹2,48,160 crores. The revenue was largely led by retail, oil and gas segments.
