Mukesh Ambani's Reliance continues to boom, profit of Rs 1.50 lakh crore since April - Newztezz Online

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Wednesday, June 14, 2023

Mukesh Ambani's Reliance continues to boom, profit of Rs 1.50 lakh crore since April

When the stock market closed on March 31, the stock of Reliance Industries was at Rs 2331.05, which crossed the level of Rs 2,550 today. This means that a gain of Rs 219 has been seen.

In the month of April or rather, from the current financial year, the shares of Mukesh Ambani's Reliance Industries are witnessing a steady rise. Within about two and a half months, the company's stock has seen an increase of 10 percent and an increase of Rs 1.5 lakh crore has been seen in the market cap of the company. Today the company's stock crossed the level of Rs 2,550 and closed. Which has reached a five-month high. Let us also tell you how the shares of Reliance Industries are seeing a boom.

Why are the company's shares rising

Shares of Reliance Industries of Asia's richest businessman Mukesh Ambani reached a 5-month high on Wednesday. The stock has crossed the Rs 2,550 level, which was last seen on January 11, 2023. The rise in shares has been seen after Bernstein Research gave an "outperform" rating on RIL and expected a potential growth of 22 per cent. RIL can potentially generate revenue of $10 billion in 2030 from the new energy business. Bernstein estimates that by 2030 Reliance could capture 60%, 30% and 20% of solar, battery and hydrogen TAM, respectively.

10 percent increase in two and a half months

Reliance shares have seen a rise of 10 percent in the last two and a half months or in the current fiscal year. When the market closed on March 31, the company's stock was at Rs 2331.05, which crossed the level of Rs 2,550 today. This means that a gain of Rs 219 has been seen. By the way, if we talk about today, Reliance on the Sensex closed at Rs 2,552.60 with a gain of 1.28 percent. By the way, the company's stock also reached Rs 2,555 during the trading session. A day ago the company's stock had closed at Rs 2520.40.

1.5 lakh crore increased valuation

Reliance shares have gained 10 percent in two and a half months, due to which the market cap of the company has also seen an increase. According to the data, the market cap of the company as on March 31 was Rs 15,77,097.76 crore, which has increased to Rs 17,26,989.88 crore. This means that since then the market cap of the company has increased by Rs 1,49,892.12 crore. If experts are to be believed, an increase in the shares of Reliance can be seen in this week.


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