Reliance Industries inches closer to lifetime high post Q1 results

The stock up 3% to Rs 1,578 on NSE, close to its record high of Rs 1,649 hit on Jan, 15, 2008.

Reliance Industries (RIL) hits a fresh over nine-year high of Rs 1,578, up 3% on the National Stock Exchange (NSE), inches closer to its record high, after the company reported a better-than-expected 28% year on year (Y-o-Y) jump in its consolidated net profit at Rs 9,108 crore in June quarter (Q1FY18) on improved performance in the refining and petrochemicals business. The company had reported a net profit of Rs 7,113 crore in the same period a year ago.

The stock is Rs 71 or 4.5% away from its all-time high of Rs 1,649 touched on January 15, 2008 during