Shares of Reliance Industries are trading at a record high today which has led to the stock crossing market capitalisation of 19 lakh crore for the first time. This month, the stock is up 8 per cent after increasing 9 per cent in December and 4 per cent in November last year. Since 2015, the shares of Reliance have given positive returns and gained 11.5% in 2023 overall. The Relative Strength Index (RSI) on the stock is currently at 68- lower than the 70 mark. If this crosses, it will take the stock into overbought territory.

Reliance Share Price: Reliance Industries Chairman, and Managing Director Mukesh Ambani.(ANI)

With its market capitalisation crossing 19 lakh crore, Reliance Industries is the most valued company in the Indian stock market.

This comes as Reliance reported a net profit of 17,265 crore for the December quarter as the company’s Oil & Gas business reported record quarterly EBITDA with margin expanding to 86% from 70% last quarter. Emkay Global Financial Services said, “Reliance reported largely in-line earnings during the third quarter of FY24. O2C and Jio EBITDA, both saw a slight miss on our estimate which was albeit offset by better Upstream (due to lower opex) and in-line Retail.”

Shares of Reliance Industries are trading 3.5% higher at 2,798. At 12:00 pm, Reliance shares were trading 4.11% higher at 2,821.85 apiece on the BSE.

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