RIL jumps nearly 2 pc; m-cap again hits Rs 9 lakh cr mark

Shares of Reliance Industries (RIL) on Tuesday gained nearly 2 per cent, with its market valuation hitting the Rs 9 lakh crore mark once again after the company posted a record quarterly net profit of Rs 11,262 crore. The scrip jumped 1.57 per cent to Rs 1,437.65 -- its record high -- on the BSE. On the NSE, it rose 1.44 per cent to Rs 1,436.85. With this, the market capitalisation (m-cap) of the company reached Rs 9,00,000.39 crore.

A steady rise

The country's most valuable company on Friday posted a record quarterly net profit of Rs 11,262 crore as a steady rise in the share of its consumer businesses of retail and telecom countered lower earnings from traditional petrochemical and refining segment. The oil-to-telecom conglomerate reported a net profit of Rs 11,262 crore, or Rs 18.6 per share, in July-September, up from Rs 9,516 crore, or Rs 16.1 a share, in the same period of the previous financial year, the company said in a statement.

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First Indian firm

RIL on Friday became the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade. Equity markets were closed on Monday due to assembly elections in Maharashtra. 

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