Reliance Industries shares are seeing a sharp rise in Wednesday’s business. Today, the stock rose nearly 10 per cent on the BSE to reach the price of Rs 1035. The stock market also got a boost due to this rise in RIL and the Sensex and Nifty are trading in green mark. There is news that Facebook can make a big investment in Reliance Jio further. Since this news, RIL continues to gain momentum today. Currently, in the midst of this boom, investors have also been silver in the shares of Reliance Industries.
When Reliance Industries shares reached Rs 1035 today, the market cap of the company increased to 656178 crores. At the same time, the stock closed at Rs 943 on Tuesday, while RIL’s market cap was around Rs 598060 crore. That is, in a few hours, the investors got a profit of 58 thousand crores. Currently, RIL’s stock is trading at a price of 1022 with an increase of about 8.5 percent. In the pre-market block deal, 1.16 crore shares of Reliance were also traded.
The way the market fell due to the Corona virus, shares of Reliance Industries were also heavily beaten. On 20 December 2019, the stock was at a record high of Rs 1618. At the same time, it reached a record low of 876 on 23 March 2020. That is, the stock fell as much as 46 percent from record highs. Reliance Industries is the largest company in the country in terms of market cap. Apart from petrochem, it is in many businesses like retail, telecom, media and others.
RIL’s profit in the December quarter was Rs 11784 crore, which is a record profit. During this period, the total sales of Reliance Industries stood at Rs 1.52 lakh crore.