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RIL up 4% on 1:1 bonus issue; Nifty ends above 9,900, but flat for the week

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SI Reporter  |  New Delhi 

Vinod Nair, Head of Research, Geojit Financial Services   Market was enthused by Jio's rapid expansion and innovative plan. The market capitalisation of RIL increased by Rs 19,000 crore today, whereas rivals failed to find their bandwidth. Additionally, continued buying interest in IT and private banks lifted the market from the volatile zone to settle in positive terrain.  Sectoral performance  Weekly Sensex gainers and losers Top Sensex gainers and losers  RIL ended at Rs 1,586, up 3.76%. The stock hit in intraday high of Rs 1,592, up 4% on the BSE. The market breadth, indicating the overall health of the market, remained negative. On BSE, 1,423 shares declined and 1,256 shares rose. A total of 139 shares were unchanged.  

Benchmark indices ended higher after Reliance Industries rallied nearly 4% on the BSE. Earlier in the day, RIL chairman Mukesh Ambani, announced a 1:1 bonus issue at the company's 40th annual general meeting (AGM) in Mumbai. A day earlier, the company reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to 30 June on the back of higher petrochemical margins and one-time gain from sale of African asset. Net profit in the April-June quarter at Rs 9,108 crore (Rs 30.8 per share) was 28% higher than Rs 7,113 crore (Rs 24.1 a share) in the same ...

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First Published: Fri, July 21 2017. 15:40 IST
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