The market heavyweight stock jumped 2.73% to ₹2,699 on the BSE. On NSE, it rose 2% to ₹2,680.
Shares of Reliance Industries rose nearly 3% on Monday after the company posted a 43% jump in net profit for the September quarter.
The market heavyweight stock jumped 2.73% to ₹2,699 on the BSE. On NSE, it rose 2% to ₹2,680.
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Later, the stock gave up early gains when it took profit and was trading about 1% lower.
Billionaire Mukesh Ambani’s firm on Friday reported a 43% jump in its September quarter net profit, as business on all cylinders from oil to retail continued to grow sequentially and on a year-on-year basis.
Net profit of ₹13,680 crore or ₹20.88 per share as compared to ₹9,567 crore or ₹14.84 per share in July-September, the company said in a statement.
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While better realizations and a sharp rise in crude oil prices benefited the businesses of the old economy, the footfall at retail outlets reached pre-reach.covid Level and telecommunications business increased earnings per user.
Revenue grew 49% to ₹1,91,532 crore. Reliance operates four business verticals – its oil-to-chemical (or O2C) business includes its oil refineries, petrochemical plants and fuel retail business; retail business with brick-and-mortar stores and e-commerce; Digital services covering telecom arm Jio; and the new energy business.
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