RIL, ICICI Bank shares hog limelight

New Delhi: Encouraging second quarter results propelled shares of Reliance Industries (RIL) and ICICI Bank upward on Monday as RIL gained nearly three per cent after the company reported a 43 per cent jump in its September quarter net profit. ICICI Bank's shares rose 14 per cent. Later, RIL shares closed flat on negative side Rs25.40 or 0.97 per cent lower at Rs2,601.65 on BSE. ICICI Bank stock ended Rs81.95 or 10.80 per cent higher at Rs841.05. Shares of ICICI Bank on Monday jumped over 14 per cent after the company reported its highest ever quarterly profit on standalone basis at Rs 5,511 crore for September quarter 2021-22.

The market heavyweight RIL stock jumped 2.73 per cent to Rs2,699 on BSE. On NSE, it gained two per cent to Rs2,680. Later, the stock gave up early gains on profit-taking and was trading nearly one per cent lower. Billionaire Mukesh Ambani's firm on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis.

Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.

Revenue was up 49 per cent at Rs1,91,532 crore. Reliance operates four business verticals - the oil-to-chemical (or O2C) business includes its oil refineries, petrochemical plants, and fuel retailing business; retail business that houses brick-and-motor stores and e-commerce; digital services that cover telecom arm Jio; and new energy business.