Reliance Q1 profit drops 5% to ₹15,138 crore
Revenue from operations rose 12% to ₹236,217 crore in the first quarter.
Revenue from operations rose 12% to ₹236,217 crore in the first quarter.
The largecap stock gained 8.5% to hit a 52-week high of ₹945.80 intraday on Monday after it posted stellar earnings in the December quarter
RIL shares declined as much as 3.05% to hit a two-month low of ₹2,361.60 on the BSE, while the market capitalisation dipped to ₹16.21 lakh crore.
JFSL shares rise over 20% in the last six sessions after Mukesh Ambani, at RIL’s 46th AGM, announced that the company will soon enter India’s insurance segment.
JFSL shares turned positive for the first time since its listing on the stock exchanges on August 21, driven by strong volume trade.
The share price for Jio Financial Services was discovered at ₹261.85, which was much higher than analysts’ estimate of ₹160-190 per share
Investors rushed to buy RIL shares after the company received approval for the demerger of its financial services arm, which would unlock value for its 36 lakh shareholders.
The BSE Sensex crossed the previous all-time high of 63,583, which was hit in December last year, led by index heavyweights, including RIL, HDFC twins, Bharti Airtel, and L&T.
The NCLT in 2020 had approved resolution plan submitted by RIL subsidiary for acquisition of RITL, one of the major private telecom infra providers in the country.
Next big announcement expected at RIL AGM is 5G investments, tech collaborations. Overall investments will be another area. RIL needs capital to expand retail business