Reliance Industries Limited continued to perform well on Wednesday i.e. the stock market. The shares of the company were trading at Rs 2,802 in early trade today, up by 1%. The market cap of the company has also increased to Rs 19 lakh crore.
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Reliance’s shares opened with a fall of 20 per cent this morning, but after a while there was a jump in the stock. Soon, the company’s shares reached a new all-time high of Rs 2,826 on the NSE. During this, the stock of Reliance Industries Limited saw a jump of about 1.25%. At the same time, the market cap of Reliance Industries Limited increased to Rs 19 lakh crore in the Sensex. Which is the highest among Indian companies.
According to stock market experts, due to the Singapore GRM (Gross Refining Margin) reaching the record level, the stock market is seeing a jump in the shares of Reliance Industries Limited. According to experts, for every dollar increase in Singapore GRM, Reliance Industries is earning Rs. The Singapore GRM has increased from $7 to $8 because of the Russia-Ukraine war.
Ashish of Profitmart says that GRM is giving huge profits to petrochemical industries like Reliance due to rise in crude oil prices. At the same time, Santosh Meena of Swastik Investments also agrees with Ashish’s point of view. He said, “The reason for the rise in the shares of Reliance Industries is the excellent business of the petrochemical business. Retail and technology businesses are also performing well. The shares of the company have the potential to reach up to Rs 3000 per stock.