Reliance Industries shares rebound 15% in November, add ₹2.38 lakh crore in market value; what's changed?

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Reliance Industries shares have rebounded 15% in November after strong second-quarter results, adding ₹2.38 lakh crore to market value.

Reliance Industries share price: The sleeping giant is finally waking up. After remaining largely overlooked by Dalal Street investors for three consecutive months, Reliance Industries has witnessed renewed investor optimism following the company's upbeat Q2 performance, helping the stock recover a significant portion of its losses.

The stock has gained 15% in November so far, closing at ₹1,339 on Friday, after ending every trading session in the green since the company's results were announced on October 30.

On November 2, the stock surged 11.60%, as investors reacted to the September numbers, which also marked the biggest single-day gain in five years. The sharp rally added ₹1.82 lakh crore to the company's market capitalisation in a single session.

Taking the latest gains into account, Reliance Industries has added ₹2,37,767 crore in market value during November so far, taking its total market capitalisation to ₹18,12,954 crore.

At its record high of ₹1,611, the company commanded a market capitalisation of ₹21.8 lakh crore. It had crossed the ₹21 lakh crore mark in June 2024, becoming the first Indian company to achieve this milestone.

The rally has not only revived gains in Reliance Industries shares but has also supported the broader market, contributing to the Nifty 50's recovery given the company's significant weightage in the benchmark index.

Meanwhile, investors in the Reliance Group have another reason to celebrate, as its telecom arm, Jio Platforms, made a blockbuster stock market debut last week. The shares listed at ₹1,440 apiece, marking a premium of 21.3% over the issue price.

Although retail investors reduced their stakes in nearly half of listed companies, Reliance Industries saw a significant expansion in its retail shareholder base, with investor interest picking up around the Jio Platforms IPO.

Reliance added 204,923 retail shareholders in the March quarter and another 219,986 in the June quarter, before the additions nearly doubled to 401,762 in the…

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