Finance1 min read

Diwali cheer! Mukesh Ambani gets $8.5 billion richer in a day as RIL shares soar

By · Published by Everything Blog

In short

Shares of Reliance Industries rallied 11.64% to close at Rs 1,299 on the BSE, marking the stock's strongest single-session performance in over six years. The surge was anchored by higher crude processing volumes, improved petrochemical profits, and a near 14% earnings boost at Jio Platforms. However, the equity remains nearly 19% below its 52-week peak of Rs 1,611.20 as investors watch for retail sector turnarounds. Analysts maintain that future valuation gains hinge on clearer financial returns emerging from new energy investments.

Key points

  • Reliance served as the largest overall contributor to the Nifty 50 benchmark index follow…: Reliance served as the largest overall contributor to the Nifty 50 benchmark index following its post-earnings rally.
  • Goldman Sachs and Nomura reiterated buy ratings on the equity with targets of Rs 1,840 an…: Goldman Sachs and Nomura reiterated buy ratings on the equity with targets of Rs 1,840 and Rs 1,560.
  • Sustained future gains depend on resolving retail margin pressures and proving the viabil…: Sustained future gains depend on resolving retail margin pressures and proving the viability of new energy projects.

Sources checked by our analysis pipeline: 1

The sharp rise in his fortune came as Reliance Industries shares surged 11.64% to Rs 1,299 on the BSE, marking their strongest trading session in more than six years. The rally followed better-than-expected earnings from the company's oil-to-chemicals business and improved profitability at its telecom operations.

The gains also helped Reliance emerge as the biggest contributor to the benchmark Nifty 50 index on Monday.

Also Read: Missed Reliance Industries’ historic 12% one-day rally? Here’s what technical analysts are saying

Ambani's wealth is closely tied to his holdings in Reliance Industries, which operates businesses spanning oil refining, petrochemicals, telecom, retail and new energy. Changes in the company's share price have a significant impact on his estimated fortune.

The latest jump in wealth comes after a difficult year for Reliance shareholders. Even after Monday's rally, the stock remained nearly 19% below its 52-week high of Rs 1,611.20.

The rally was driven by Reliance's strong financial performance for the July-September quarter. The company reported a 40.6% rise in profit attributable to shareholders to Rs 25,548 crore, beating analysts' expectations.

Its oil-to-chemicals business benefited…

Finance

More in Finance