Reliance Industries surges nearly 6% post Q2, m-cap rises by Rs 16,581 crore

Shares of Reliance Industries ended with nearly 6% gains adding Rs 16,581 crore to its market valuation on Monday, after the company reported its highest ever quarterly net profit of Rs 6,720 crore for the three months ended September 30.

After surging 5.81% to Rs 965.20 in intra-day trade at BSE, shares of the company finally ended at Rs 963.40, up 5.61%.

At NSE, the stock soared 5.62% to close at Rs 963.50. The blue-chip scrip was the top gainer on both Sensex and Nifty.

Led by the rally in the stock, the company's market valuation surged by Rs 16,581.1 crore to Rs 3,11,990.10 crore.

On the volume front, 8.02 lakh shares of the company changed hands at BSE and over 76 lakh shares were traded at NSE during the day.

"Reliance Industries reported its quarterly numbers after market hours on Friday and posted better-than-expected result," said Jayant Manglik, President, Retail Distribution, Religare Securities Ltd.

Net profit for July-September of 2015-16 rose 12.5% to Rs 6,720 crore from Rs 5,972 crore in the same period last fiscal, the company said in a statement on Friday, post market hours.

Sales, however, fell 33.8% to Rs 75,117 crore on benchmark crude oil prices halving. Net profit after excluding exceptional items was up 4% at Rs 6,468 crore.

In the broader market, the Sensex ended at 27,364.92, up 150.32 points.