Reliance Industries' shares jump nearly 2% on strong Q2 numbers; market-cap regains Rs 9 lakh cr-mark

New Delhi: Shares of Reliance Industries (RIL) on Tuesday gained nearly 2 percent, 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 percent to Rs 1,437.65 – its record high – on the BSE. On the NSE, it rose 1.44 percent to Rs 1,436.85. [caption id=“attachment_4572901” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] With this, the market capitalisation (m-cap) of the company reached Rs 9,00,000.39 crore. 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. 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. (Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)