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Reliance Share Price: Reliance Industries is the most valuable company in the Indian stock market, with a market capitalization that has surpassed ₹19 lakh crore.

With the stock hitting ₹19 lakh crore in market capitalization for the first time, Reliance Industries‘ shares are trading at a record high today. After rising 9% in December and 4% in November of last year, the stock is up 8% this month.

Over the course of 2023, Reliance’s shares have gained 11.5% overall, with positive returns since 2015. With respect to the 70-point threshold, the stock’s Relative Strength Index (RSI) is currently at 68. This will cross into overbought territory and move the stock higher.

As of now, Reliance Industries has the highest market capitalization in the Indian stock market, surpassing ₹19 lakh crore.

This comes as Reliance’s Oil & Gas division posted record quarterly EBITDA, with a margin that increased to 86% from 70% the previous quarter, and the company reported a net profit of ₹17,265 crore for the December quarter. “Reliance reported largely in-line earnings during the third quarter of FY24,” stated Emkay Global Financial Services. Although better Upstream (because of lower opex) and in-line Retail helped to offset the slight miss on our estimate for O2C and Jio EBITDA.”

Reliance Industries’ shares are currently trading 3.5% higher at ₹2,798. Reliance shares were up 4.11% at ₹2,821.85 per share on the BSE at 12:00 pm.

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