Reliance Industries is the country's No. 1 company with a market cap of Rs 16 lakh crore

Reliance shares rise on direct gains in international natural gas and crude oil prices

MUMBAI: Shares of Reliance Industries Ltd are on a bullish streak. At 2.23 pm on Monday, the company's stock rose 1.63 per cent to an all-time high of Rs 2,529, taking its market cap to Rs 16 lakh crore.

Reliance is the first company in the country to reach this level. Rising international prices of natural gas and crude oil are expected to boost Reliance's profits. Shares of Reliance Industries Ltd. touched Rs 2,529 on the Bombay Stock Exchange on Monday afternoon.

Shares of Reliance Industries Ltd are the major contributors to the Sensex and Nifty. Shares of Reliance Industries Ltd have returned 25 per cent to investors in the first nine months of 2021 on Friday. The benchmark index, however, returned 26 per cent during the period.

The main reason for the rise in RIL's stock is rising crude oil prices. Reliance Industries Ltd's GRM could see strong growth. This will have a direct impact on the company's profits. The central government may take a decision on the price hike on October 1 as natural gas prices continue to rise around the world. Navajuni is also expected to sign the Saudi Aramco-Reliance deal soon.

Shares of Reliance are expected to rise following the news. The country's top 10 companies last week added a total of Rs 1,56,317.17 crore to their market valuation. The market cap of Reliance Industries, the country's most valuable firm, rose to Rs 16,00,836.18 crore on Monday.