Shares of Reliance Industries Limited are trading at a record high today which has led to the Stock Crossing Market Capitalisation of Rs.19 Lakh Crore for the very first time. This month, the Stock is up from 8 percent after increasing 9 percent in December 2023 and 4 percent in November 2023 that is last year. Since the year 2015, the shares of Reliance Industries have given positive returns and gained 11.5 percent in year 2023 overall. The Relative Strength Index (RSI) on the Stock is currently at 68 lower than the 70 mark. If this crosses or exceeds, it will take the Stock into overbought territory.
With its Market Capitalisation crossing Rs.19 Lakh crore, Reliance Industries Limited is the Most Valued company in the Indian Stock Market. This comes as Reliance reported a net profit of Rs.17,265 Crore for the December quarter as the Company’s Oil & Gas business reported record quarterly EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) with margin expanding to 86% from 70% last quarter. Emkay Global Financial Services shared, Reliance Industries reported largely in-line earnings during the third quarter of FY 2024. O2C and Jio EBITDA, both saw a slight miss on our estimate which was albeit offset by better Upstream (due to lower opex) and in-line Retail.
