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Reliance Industries shares rebound 15% in November, add ₹2.38 lakh crore in market value; what's changed?

By · Published by Everything Blog

In short

The conglomerate achieved a record July–September net profit behind substantial operating gains in its oil-to-chemicals segment, which capitalized on elevated worldwide fuel margins. These industrial earnings helped counterbalance a 24.3% profit contraction recorded by the firm's retail venture. Enthusiasm across the market was reinforced by the strong trading debut of Jio Platforms and an influx of individual retail shareholders.

Key points

  • A strong rebound in core energy operations more than cushioned the earnings downturn obse…: A strong rebound in core energy operations more than cushioned the earnings downturn observed in retail.
  • Investor sentiment was reinforced by telecom arm Jio Platforms listing at a 21.3% premium…: Investor sentiment was reinforced by telecom arm Jio Platforms listing at a 21.3% premium over its issue price.
  • Retail participation expanded as the company added 401,762 individual shareholders to lif…: Retail participation expanded as the company added 401,762 individual shareholders to lift total retail ownership to 7.24%.

Sources checked by our analysis pipeline: 1

Reliance Industries share price: The sleeping giant is finally waking up. After remaining largely overlooked by Dalal Street investors for three consecutive months, Reliance Industries has witnessed renewed investor optimism following the company's upbeat Q2 performance, helping the stock recover a significant portion of its losses.

The stock has gained 15% in November so far, closing at ₹1,339 on Friday, after ending every trading session in the green since the company's results were announced on October 30.

On November 2, the stock surged 11.60%, as investors reacted to the September numbers, which also marked the biggest single-day gain in five years. The sharp rally added ₹1.82 lakh crore to the company's market capitalisation in a single session.

Taking the latest gains into account, Reliance Industries has added ₹2,37,767 crore in market value during November so far, taking its total market capitalisation to ₹18,12,954 crore.

At its record high of ₹1,611, the company commanded a market capitalisation of ₹21.8 lakh crore. It had crossed the ₹21 lakh crore mark in June 2024, becoming the first Indian company to achieve this milestone.

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