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RIL shares hit a nine-year high, surges by Rs 5,242 cr in a single day

RIL shares hit a nine-year high, surges by Rs 5,242 cr in a single day

MUMBAI: Shares of Reliance Industries ended over 1 per cent higher today after hitting a nine-year high, as the company reported a record fourth-quarter net profit of Rs 8,046 crore.

The stock gained 1.14 per cent to end at Rs 1,432.50 on BSE. During the day, it jumped 3.43 per cent to Rs 1,465 — its nine-year high.

On the NSE, shares of the company rose 1 per cent to close at Rs 1,432.80.

Led by the gain in the stock, the company’s market valuation went up by Rs 5,242.44 crore to Rs 4,65,753.44 crore — the maximum for any listed company in the country.

The rise in stock price helped RIL maintain the status of most valued Indian company by market capitalisation for the second consecutive day today.

On the volume front, 6.27 lakh shares of the company were traded on the BSE and over 84 lakh shares changed hands on the NSE during the day.

Reliance Industries had yesterday reported a record fourth quarter net profit of Rs 8,046 crore, buoyed by higher earnings from its petrochemicals business and an 8-year-high refining margin.

Consolidated net profit for the operator of the world’s biggest oil-refining complex rose to Rs 8,046 crore, or Rs 27.3 per share, in January-March quarter compared with Rs 7,167 crore net profit in the same period of the previous year, the company said in a statement.

Operating profit, or earnings before interest and tax, from its petrochemicals segment jumped 26 per cent from a year earlier to Rs 3,441 crore, while that from its refining business was almost flat at Rs 6,294 crore.