RIL share price rises almost 3% after Q2 results

Reliance Industries (RIL) share price rose almost 3 per cent in early trade on BSE on Monday, October 30, boosted by the company's September quarter earnings.

The stock opened at ₹2,283.95 against the previous close of ₹2,265.25 and rose 2.6 per cent to the intraday high of ₹2,324.60 in trade so far.

Around 11:55 am, the stock traded 2.24 per cent higher at ₹2,316 on BSE.

RIL shares have been lacklustre in the last one year. RIL share price has gained just one per cent while the equity benchmark Sensex has gained 7 per cent in the same period.

Reliance share price hit its fresh 52-week high of ₹2,635.17 on July 19, 2023, and its 52-week low of ₹2,012.14 on March 20, 2023, on BSE. 

As of the previous session's close, the stock is down over 14 per cent from its 52-week high level.

RIL on Friday (October 27) reported a 29.7 per cent year-on-year rise in its September quarter consolidated net profit at ₹19,878 crore.

EBITDA jumped 30.2 per cent YoY to ₹44,867 crore while the EBITDA margin surged 390 bps YoY to 17.5 per cent.

Gross revenue, however, inched up marginally by 1.2 per cent YoY to ₹2,55,996 crore, supported by consumer businesses.