Reliance Industries Ltd (RIL) shares gained more than 5% on Monday, April 28, to emerge as the top performer on the Nifty 50 index after the Mukesh Ambani-led conglomerate posted improved-over-expectations earnings in the March quarter.
RIL shares gained 5.07% by close, ending at ₹1,336.30 per share on the NSE — its highest one-day increase since June 3, 2024.
The company reported a 2.4% quarter-on-quarter increase in net profit attributable to shareholders at ₹19,407 crore for the fourth quarter of FY25. The performance was ahead of analysts' expectations, aided by reduced depreciation, interest charges, and tax outgo. Revenue for the March 31 quarter rose 8.8% to ₹2.88 lakh crore, led by strong contributions from its digital services, retail, and oil-to-chemicals (O2C) businesses.
Following the declaration of its quarterly numbers, several brokerages raised their target prices for Reliance on the back of the company's robust growth in its core business areas and higher-than-anticipated O2C earnings.
Around 2:30 pm, RIL stocks were 5.1% higher at ₹1,367.7 on the NSE, retaining their biggest single-day gain since June 3, 2024. Analysts explained that the majority of the positive momentum was from Reliance Jio, the company's telecommunication business. According to local brokerage Motilal Oswal, "segment-wise, it views Jio as the biggest growth driver with 21 percent EBITDA growth every year over FY25-27 driven by one more tariff hike, wireless market share gains and ramp-up of the homes and enterprise business."
Read also| RBI Governor: India’s Rapid Growth Makes It the Ideal Investment Hub
Read also| India's Domestic Air Travel Soars with 10.35% Annual Growth in FY25
