Published on 22/07/2019 5:27:34 PM | Source: Dion Global Solutions Ltd

RIL shares gain 2.5%; m-cap rises by Rs 19,974 cr after Q1 earnings

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Shares of Reliance Industries Ltd (RIL) gained 2.5 per cent on Monday after the company posted 6.8 per cent rise in June quarter net profit. The scrip rose 2.52 per cent to close at Rs 1,280.50 on the BSE. During the day, it jumped 2.84 per cent to Rs 1,284.55. At the NSE, shares went up 2.32 per cent to close at Rs 1,278.10. The company's market valuation also jumped Rs 19,973.81 crore to Rs 8,11,718.81 crore on the BSE.

RIL is also the country's most valued firm by market capitalisation (m-cap). In terms of traded volume, 5.86 lakh shares of the company were traded on the BSE and over one crore shares on the NSE during the day. The oil-to-telecom conglomerate reported a net profit of Rs 10,104 crore, or Rs 17.05 per share, in April-June, up from Rs 9,459 crore, or Rs 15.9 a share, in the same period of the previous financial year, the company said in a statement on Friday. Standalone net profit of Rs 9,036 crore, up 2.4 per cent over the previous year, was a record. It clocked a record consolidated revenue of Rs 1,72,956 crore in June quarter on the back of robust retail sales.