RIL Share: Recently Gautam Adani snatched the crown of Asia’s richest person from Mukesh Ambani. According to the Bloomberg Billionaires Index, Adani currently owns a net worth of $116 billion.
Today was a very good day for Reliance Industries Limited, the country’s largest company in terms of market cap. During the trading on Wednesday, the company’s shares reached very close to the record level. Experts believe that refining margins will improve again due to higher crude oil prices.
Shares jumped so much on BSE-NSE
On Wednesday, the stock of RIL closed at Rs 2718.40 with a gain of 79.95 points, or 3.03 per cent, on the Bombay Stock Exchange (BSE). Shares of Reliance Industries Ltd rose 76.70 points (2.90 per cent) to Rs 2,717.50 on the National Stock Exchange (NSE). Presently the company’s market cap is Rs 18,38,978.03 crore.
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Hence the rise in stocks
The all-time high of Reliance’s stock is Rs 2,751. If experts are to be believed, more than twice the price of natural gas and a sharp rise in the price of crude oil can increase the profit of Reliance. Because of this, its shares registered an increase today. According to Morgan Stanley, RIL may benefit from a jump in the price of oil.
In this context, a report said, “RIL will benefit from persistently high oil prices, especially in an environment where oil demand is rising and is supporting refinery margins and US and Asian gas prices.” .’ Morgan Stanley said overall the gross refining margin of Mukesh Ambani-led RIL has increased.
The company’s EBITDA or earnings before interest, tax, depreciation and amortization grew 30 per cent to a record Rs 33,886 crore in the third quarter of last fiscal. Three-quarters of that came from its traditional oil business. Earnings were helped by higher oil prices and rising demand.
