Reliance Industries' Shares Surge Amid Quarterly Profit Report

Reliance Industries Ltd's shares spiked over 5% after reporting a 2.4% rise in March quarter profits. This propelled its market valuation by Rs 92,629.1 crore, driving stock market gains. The increased profits were due to improvements in its telecom and retail sectors, despite challenges in oil and petrochemicals.

Shares of Reliance Industries Ltd saw a significant jump of over 5% on Monday, following the announcement of a 2.4% increase in net profit for the March quarter. The stock's value surged by Rs 92,629.1 crore, marking a substantial boost in its market valuation.

On the BSE, the stock climbed 5.27% to close at Rs 1,368.50, while on the NSE, it rose by 5.06% to settle at Rs 1,366.30. This rise positioned it as the top performer among Sensex and Nifty firms, and significantly influenced the broader market's upward trajectory.

Reliance's profit increment was largely driven by its telecom and retail operations, counterbalancing the underperformance in its oil and petrochemicals segment. The company's consolidated net profit rose to Rs 19,407 crore, surpassing the previous year's figure of Rs 18,951 crore. This growth helped the conglomerate reach a net worth milestone of over Rs 10 lakh crore during FY25.

(With inputs from agencies.)