Nifty 50 Surges Past 24,300 Led by Reliance Earnings

Indian benchmark Nifty 50 spent the day in the green. Nifty opened at 24,070 and ended the day at 24,329 gaining 289 points. It regained Friday’s losses and saw high momentum today. Out of the total Nifty stocks, 39 stocks ended the day in green. 

The ongoing earnings season is driving the index higher with investors watching out for quarterly numbers. The rally was led by Reliance Industries which announced impressive Q4 numbers. Reliance stock was up 5% and it contributed about 40% to today’s Nifty gains. 

On the other hand, today’s loser was Shriram Finance which reported a disappointing Q4. With a bounce in the stock market, some of the most coveted tech stocks were on a ride. These include:

Reliance Industries

Reliance Industries stock is up 5.07% today driven by the strong Q4 numbers. The stock is exchanging hands for Rs. 1,366 and is up 11% year-to-date. It added Rs. 1 trillion to investor wealth after Q4 results. The stock is trading at the highest value since October 2024 (adjusted for bonus issue). The stock also saw its biggest single-day gain since June 2024.

Reliance Industries reported a revenue of Rs 2.88 lakh crore, up 8.8% year-over-year and the net profit soared 2.4%. Brokerages are optimistic about the future of the company and have raised the price target. The company is set to invest Rs.1.5 trillion towards renewable energy and petrochemical expansion.

As one of the biggest companies in the country, Reliance Industries leads the market and the numbers often set the tone for the earnings season. If the same momentum continues, the stock could inch closer to the 52-week high of Rs.1,608. Post results, the share price target has gone as high as Rs. 1,710. 

Sun Pharmaceutical Industries

Up 3.07% today, Sun Pharma shares are trading for Rs. 1,842 and have shown a steady upside over the past month. The upside is due to a positive ruling by the US court regarding the launch of Leqselvi. The US Court heard arguments in the pharmaceutical company’s appeal against a previous decision by the court which had imposed an injunction and delayed the launch of its drug Leqselvi in the United States. 

Leqselvi is a drug that can be used for the treatment of alopecia areata which is an auto-immune condition that leads to hair loss. Sun Pharma has exclusive marketing rights of the product for five years. 

The appellate court ruled in favor of the company and vacated this injunction. Sun Pharmaceuticals is no longer prevented from launching Leqselvi. This ruling led the stock higher and it is estimated that the drug will contribute about $90 million to its sales in FY26 and $125 million in FY27. 

JSW Steel 

Up 2.91% today, JSW Steel stock is exchanging hands for Rs. 1,058 and is very close to the 52-week high of Rs.1,074. The stock is up 16% in 2025 driven by the robust domestic demand and low raw material costs. Several steel shares were up after the recommendation of the Directorate General of Trade Remedies to impose a 12% provisional safeguard duty ad valorem on select steel products for a period of 200 days. 

The decision to impose the duty came after the sudden rise in imports of these products in India which had hurt the margins of all the domestic steel companies. The duties can aid pricing by about Rs.3,000 per tonne. Besides that, the company has generated impressive returns in the last few years and plans to achieve 51 MT capacity by 2030 and focus on operational efficiencies. 

Several analysts have a buy rating for the stock with a price target of Rs. 1,100. 

The post Nifty 50 Surges Past 24,300 Led by Reliance Earnings appeared first on 24/7 Wall St..