Reliance Industries shares rose as much as 8.1% intraday Monday after its September-quarter profit increased, with stronger oil-to-chemicals earnings contrasting with a weaker retail result.
Moneycontrol reported that the shares reached ₹1,259 during trading. A later Business Standard quote, at 2:12 a.m. ET (07:12 UTC), placed them at ₹1,252.50, up 7.64%. Both figures were intraday readings.
Reliance reported profit attributable to owners of ₹25,548 crore for the quarter ended Sept. 30, up from ₹18,165 crore a year earlier, in an Oct. 30 exchange filing. Revenue from operations rose to ₹332,861 crore from ₹258,898 crore. EconoTimes covered the company's quarterly results when they were released.
Oil-to-chemicals EBITDA, a measure of operating earnings, increased 67.9% to ₹25,203 crore, Reliance's investor presentation showed. The company said tight fuel supplies and flexibility in sourcing raw materials helped the division. Higher crude premiums and freight and insurance costs limited the gains, although its EBITDA margin widened to 10.9% from 9.3%.
Retail EBITDA fell to ₹6,120 crore from ₹6,817 crore. Reliance linked the decline partly to a shift in festive demand and spending to expand online commerce. Its next quarterly results will provide another reading on retail performance after that shift.
The Economic Times reported that Choice Vice President of Technical Research Sachin Gupta placed resistance near ₹1,263. Gupta identified ₹1,310 and ₹1,365 as further levels if shares move above ₹1,263, and put support at ₹1,200 and ₹1,150.
In the same report, Virat Jagad, Senior Technical Research Analyst at Bonanza, placed resistance near ₹1,255 and support near ₹1,250. Jagad said ₹1,346 was possible if a breakout held. Those higher levels are conditional analyst assessments.
