Reliance Share Price Hits Record High, Market Cap Crosses ₹19 Lakh Crore

On Monday, Reliance Industries’ Market Capitalization Surpassed ₹19 Lakh Crore, Setting A New High For The Company’s Share Price. On The BSE, Reliance Shares Increased By As Much As 4.19% To Reach A New High Of ₹ 2,824.00 A Share.

On NSE, Reliance Share Price Jumped 4.35% To A Record High Of ₹2,824.00 Apiece.

The Largest Contributor To The Nifty 50 Index Was The RIL Stock. The Advances In The Nifty 50 Were Over 89 Points Attributed To RIL Shares. At 21,656.30, The Nifty 50 Index Was Up 303.70 Points, Or 1.42%.

With Its Market Capitalisation Crossing ₹19 Lakh Crore, Reliance Industries Is The Most Valued Company In The Indian Stock Market.

While The Stock Has Increased By More Than 24% In The Last Three Months, Reliance Shares Have Gained Close To 9% In The Last Month. Over 53% Is The Return On Reliance Shares After Three Years.

The Energy-To-Telecom Conglomerate Reliance Industries (RIL), Led By Billionaire Mukesh Ambani, Reported An 11% Yoy Increase In Net Profit For The Third Quarter Of FY24, Coming In At ₹19,641 Crore.

With The Consumer Businesses Continuing To Develop At A Strong Rate, The Company’s Gross Sales In Q3FY24 Climbed 3.2% Yoy To ₹2,48,160 Crore. While The Oil-To-Chemicals (O2C) Arm’s Revenue Decreased Due To Reduced Price Realization, The Retail And Oil & Gas Segments Led The Revenue.

Driven By The Retail And Oil & Gas Segment, The Company’s Earnings Before Interest, Taxes, Depreciation, And Amortization (EBITDA) Increased 17% To ₹44,678 Crore In The December Quarter.

RIL’s EBITDA For Digital Services Rose 11% Yoy, As Average Revenue Per User (ARPU) Grew 2% Yoy To ₹181.7, In Addition To A 9% Yoy Rise In Customer Base To 471 Million.

For The Third Quarter Of FY24, Reliance’s Results Were Essentially In Line With Expectations. While Improved Upstream (Because Of Lower Opex) And In-Line Retail Helped To Offset O2C And Jio EBITDA’s Little Shortfall On Our Expectation, Emkay Global Financial Services Stated.

It Raised SOTP-Based TP By 8% To ₹2,950 Per Share, On The Strength Of Greater New Energy Value (1.5x EV/IC) As Development Moves Forward, Higher Jio EV/EBITDA Objective, And Rollover To Dec-24E. It Mostly Maintained FY24-26E Profits Expectations. A ‘Add’ Rating Was Retained By The Brokerage For Reliance Industries.

Reliance Industries To See Valuation Re-Rating Led By New Energy Business, Says Nuvama Equities; Raises Target Price

Prior To This, Reliance Was Reportedly Sprinting Toward Starting New Energy-Chain Production With Its Strategic M&A, PLI Victories, And Facility Advancement, According To Nuvama Institutional Equities. Reliance Industries’ 20GW Completely Backward Integrated Module Capacity Means That Its New Energy Division Needs A Re-Rating In Terms Of Valuation.

The Brokerage Rolled Forward RIL’s New Energy Valuation To FY26E Revenues, Increasing Its Target Price For Reliance Industries Shares By 5% To ₹3,105 A Share. It Rates The RIL Shares As A “Buy.”

With A Market Valuation Of ₹19.08 Lakh Crore, Reliance Shares Were Trading 4.11% Higher At ₹2,821.85 Apiece On The BSE At 12:00 Pm.

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