Reliance Industries' stock price soared to ₹1299.8, surpassing the critical resistance level of ₹1288.18, indicating strong buying interest and optimism among investors. The surge comes after the company reported robust Q3 financial results, showcasing a 13.5% quarter-on-quarter increase in net profit, which reached ₹21,930 crore compared to ₹19,323 crore in the previous quarter. Revenue for the quarter grew 4% to ₹2.39 lakh crore, reflecting the company's steady operational performance.
In futures trading, Reliance stocks saw a 2.38% increase, coupled with a 1.34% rise in open interest, suggesting further positive momentum in the near term. Analysts recommend holding long positions as the stock demonstrates significant potential for continued growth.
On the prior trading day, Reliance shares opened at ₹1260.2 and closed at ₹1252.3, after fluctuating between a high of ₹1275 and a low of ₹1251.4 during the session. The company’s market capitalization currently stands at ₹1,694,524 crore.
Over the past year, Reliance's stock has traded between a high of ₹1608.95 and a low of ₹1202.1. On the BSE, a total of 391,749 shares were traded, further emphasizing the stock's strong activity and investor interest.
