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RIL jumps nearly 2%, m-cap again hits Rs 9 lakh cr mark

Last Updated : 22 October 2019, 08:22 IST
Last Updated : 22 October 2019, 08:22 IST

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Shares of Reliance Industries (RIL) on Tuesday gained nearly 2 per cent, with its market valuation hitting the Rs 9 lakh crore mark once again, after the company posted a record quarterly net profit of Rs 11,262 crore.

The scrip jumped 1.57 per cent to Rs 1,437.65 -- its record high -- on the BSE.

On the NSE, it rose 1.44 per cent to Rs 1,436.85.

With this, the market capitalisation (m-cap) of the company reached Rs 9,00,000.39 crore.

The country's most valuable company on Friday posted a record quarterly net profit of Rs 11,262 crore as a steady rise in the share of its consumer businesses of retail and telecom countered lower earnings from traditional petrochemical and refining segment.

The oil-to-telecom conglomerate reported a net profit of Rs 11,262 crore, or Rs 18.6 per share, in July-September, up from Rs 9,516 crore, or Rs 16.1 a share, in the same period of the previous financial year, the company said in a statement.

RIL on Friday became the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade.

Equity markets were closed on Monday due to assembly elections in Maharashtra.

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Published 22 October 2019, 08:15 IST

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