New Delhi. Shares of Reliance Industries, one of the country's largest companies, registered a strong rally on the first trading day of the week. On Monday, November 2, the company's shares saw a rise of more than 7 percent. Due to this rise, the wealth of investors increased by about Rs 1 lakh crore within just one hour. Last week, the listing of Jio platform and Reliance's excellent quarterly results had created a positive atmosphere in the market regarding the company. The company recorded a record profit of Rs 29,550 crore in the July-September quarter, which is 33.8 percent more than the same period last year. The effect of better financial performance is now visible in the stock market as well.

Shares rise 7.12% on BSE, market valuation crosses Rs 16.74 lakh crore

During trading on Monday, Reliance Industries shares jumped 7.12 percent to reach Rs 1,246.45 on the BSE. At the same time, it registered a rise of 6.79 percent on the National Stock Exchange (NSE) and was seen trading at Rs 1,244. Due to this rise in the shares, the market capitalization of the company increased by Rs 1,00,208.45 crore and it increased to Rs 16,74,786.99 crore. Reliance Industries remains at the first position among the companies listed on the BSE in terms of market capitalization. The record quarterly results announced last week are being considered as the main reason for this rise.

Sensex and Nifty also got support from Reliance's rise.

The stock market started the trading week on a positive note. Reliance Industries was among the biggest gainers as major indices Sensex and Nifty rose. The 30-share BSE Sensex rose 935.82 points to 75,390.02 during morning trade. The 50-share NSE Nifty gained 248.15 points to trade at 23,300.05. Reliance's strong quarterly performance boosted investor confidence and fueled the market rally. The company had reported a record net profit of Rs 29,550 crore in its financial results released on Friday.

The company's earnings increased due to the recovery of the oil-to-chemicals business.

Reliance Industries' profit growth was primarily driven by improved oil-to-chemicals (O2C) business. Higher transportation fuel prices and better margins on petrochemical products in this sector boosted the company's earnings. Continued expansion in digital services also supported its financial performance. Strong digital business growth helped offset the impact of weaker retail earnings. The O2C segment, including its refining and petrochemical businesses, performed strongly during the quarter. These developments led to a total revenue of ₹2,31,601 crore.

67.9 percent increase in profit after tax

According to the company's financial data, earnings after tax increased by 67.9 percent to ₹25,203 crore in the corresponding quarter. The total quarterly profit was recorded at ₹29,550 crore. The 33.8 percent increase in profits compared to the same quarter last year reflects the company's strong business performance. Strong results in refining, petrochemicals, and digital services contributed significantly to this growth. Reliance investors also benefited significantly from the surge in shares following the record profits, and the company's market valuation increased significantly in a single trading session.