Reliance Industries Ltd. (RIL), which is led by Mukesh Ambani, had its shares reach a new high on Thursday for the second straight day. In contrast to yesterday’s BSE closing of Rs 2649.95, RIL shares reached a new high of Rs 2,724.95 in trading today. The share price reached the all-time high of Rs 2658.95, which was achieved on January 10, 2024. Later, at Rs 2718.40, the RIL stock closed 2.58% higher today.
RIL shares peaked at Rs 2,635.17 on July 19, 2023. Interestingly, the stock fell to Rs 2012.14, its 52-week low, on March 20, 2023. The large-cap stock saw a 0.36% increase in closing price on January 5th, when it finished at Rs 2,606 on the BSE, from its previous close of Rs 2597.40.
On March 20, 2023, the RIL stock hit its 52-week low of Rs 2012.14. Following the exchange of 3.44 lakh shares on the BSE, the RIL stock recorded a high turnover of Rs 92.64 crore during the current session. In a year, RIL’s stock has increased by 16.62%. With a beta of 0.3, it has had little swings in a year.
Reliance Industries’ market capitalization increased to Rs 18.39 lakh crore today from Rs 17.92 lakh crore on January 10.
Related News on Reliance Industries Ltd. : TN will see more investments from Reliance Industries: The Mukesh Ambani
Reliance Industries’ Chairman and Managing Director, Mukesh D. Ambani, announced on Sunday that the company has committed to making fresh investments in Tamil Nadu’s renewable energy sector.
Additionally, Reliance Industries would open its brand-new data center, which was established in collaboration with US-based Digital Reality and Canada-based Brookfield Asset Management.
“Reliance has proudly partnered in Tamil Nadu’s growth over the years,” Ambani stated in his virtual speech during the Global Investors Meet 2024 opening session, which was organized by the Tamil Nadu government.
He stated, “We have opened nearly 1,300 retail stores across the state at an investment of over Rs 25,000 crore,” enumerating the company’s state investments. Jio has made over Rs 35,000 crore in investments in Tamil Nadu, enabling 35 million users in every town and village to benefit from the digital revolution.”
Reliance Industries Ltd. is partnering up with US-based Digital Reality and Canada’s Brookfield Asset Management to build a cutting-edge data center, which will open next week, he said. He did not provide specifics on the total amount of investments made at the facility or the anticipated location.
The businessman stated, “We shall work closely with the state government to promote sustainable development, which is necessary to save Mother Earth from the climate crisis,” noting that Reliance has committed to making new investments in green hydrogen and renewable energy in Tamil Nadu. I have faith that the state administration will provide workable policies to back our upcoming endeavors.”
Sensex and Nifty, the two major equity indices, had some turbulence in late afternoon trade on Thursday, but they ended the day slightly higher. The S&P BSE Sensex closed 63 points higher at 71,721, having reached a high of 71,999. The NSE Nifty50, on the other hand, finished the day up 29 points at 21,647.
2.58 percent was won by Reliance Industries on the 30-share Sensex platform. Among the winners were Tata Motors, UltraCemco, IndusInd Bank, PowerGrid, and Axis Bank. On the negative side, Nestle, Infosys, HUL, Wipro, L&T, and JSW Steel were the losers. In terms of individual stocks, Polycab India fell 20% at Rs 4,176 following rumors that the IT department had discovered “unaccounted cash sales” from its most recent raids totaling approximately Rs 1,000 crore.
A little over 2022 shares rose, 1251 shares fell, and 63 shares remained unchanged.
The BSE Mid Cap and SmallCap indices were observed to be up about 0.5% apiece in the overall market.
Sector-wise, the BSE oil and gas and automotive indices both increased by 1%, but the BSE capital goods and IT indices fell by 0.5 percent and 1%, respectively.
The BSE benchmark concluded Wednesday’s previous session 272 points higher at 71,658, while the NSE Nifty50 gained 74 points to 21,619