Reliance jumps 11.6% after a 41% profit rise, lifting the Nifty 1.68% to 23,440.80
Reliance Industries reported a consolidated net profit of ₹25,548 crore for July–September, up about 41% from ₹18,165 crore a year earlier, with revenue from operations up about 29% to ₹3,32,861 crore. Its oil-to-chemicals business benefited from strong refining and petrochemical margins, and its Jio telecom arm reported average revenue per user of ₹218.8. The shares rose 11.6% on Monday, the first session after the results. Because Reliance is one of the largest Nifty companies, the move alone made up about half of the index's gain. The Nifty 50 rose 387.70 points (1.68%) to 23,440.80 and the Sensex 1,233.25 points (1.66%) to 75,692.78, a third straight rise. On the NSE, 2,445 shares rose and 1,164 fell.
The chain of consequences
- 1Reliance reports September-quarter profit up about 41% on 30 October
- 2Its shares rise 11.6% on Monday, the biggest one-day gain since April 2020
- 3Reliance accounts for about half of the Nifty's gain
- 4Nifty closes at 23,440.80 and the Sensex at 75,692.78
Tends to gain
Index-heavy energy and oil-to-chemicals businesses
Tends to lose
IT shares, which saw profit-taking
If it reverses
If the rally rests mainly on one heavyweight, the index can give back gains quickly when that share cools.
Other stories today
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- US votes in midterm elections; Trump says no new strikes on Iran before the vote
- Record October vehicle sales lift auto shares; Maruti up 2.4%
- Metal shares rise 3.2%; Coal India gains 4.9% after record October supplies
- Foreign investors buy about ₹3,115 crore; rupee slips 10 paise to 94.86
- NTPC and Power Grid rise after results; NHPC reports on 4 November
- IT and pharma shares lag the rally; Infosys falls 2%
- US factory survey strengthens to 55.5 while the 10-year yield eases to 4.89%
- Defence shares recover; BDL bounces 2.3% from its 52-week low
- State-run banks rise 1.4% on Bank of Baroda results; Bank of Maharashtra slips
- L&T rises 1.8% as infrastructure shares gain