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Rs 1.2 lakh crore profit! RIL shares record best day in over 3 years
Reliance Industries (RIL) stock rallied 7% to a lifetime high of Rs 2,905, increasing its market capitalization by Rs 1.2 lakh crore. This was the stock's single largest gain in the last three years. CA Rudramurthy BV of Vachana Investments believes that if RIL sustains above Rs 2,800, it could reach Rs 3,000. For RIL's market value to double by 2027, as promised by RIL chairman Mukesh Ambani in 2022 AGM, the listing of Reliance Jio and Reliance Retail is crucial. Investors also anticipate a 20% hike in telecom tariffs in Q2FY25 after the Lok Sabha elections.