Reliance Industries rallies 7% in two days, stock nears record high

RIL traded 3.5 per cent higher at Rs 2,730 fairly close to its record high of Rs 2,750 touched on October 19, 2021.

Shares of Reliance Industries (RIL) were up 3.5 per cent at Rs 2,730 in Wednesday's intra-day trade, surging as much as 7 per cent in the last two trading sessions, on expectations of healthy earnings. The stock of the Mukesh Ambani-led refineries & marketing company is now close to its record high of Rs 2,750 touched on October 19, 2021.

RIL's consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) is estimated to grow 66.3 per cent year-on-year (YoY) to Rs 38,824 crore, mainly led by oil-to-chemical (O2C) and digital service segments. On a quarter-on-quarter (QoQ) basis, it is