Shares of Reliance Industries rose over one per cent in the afternoon trade on the Bombay Stock Exchange after the company reported nearly 16 per cent jump in third quarter figures.

After a weak opening, shares of RIL had dipped by over two per cent to an intra-day of low of Rs. 1,029.70 on the BSE.

Later the scrip bounced back in the afternoon trade, rising by 1.54 per cent from the previous day’s close at Rs. 1,070 a share.

The scrip rebounded after the company reported its first increase in net profit in over a year’s time with a 14.48 per cent rise at Rs. 4,008 crore in the period ended December 31.

“RIL’s Q3 FY’10 results were in line with our expectations. The company reported gross refining margin (GRM) of USD 5.9 per barrel in Q3 and above our and street expectation of USD 5.5 per barrel,” domestic brokerage firm Sharekhan said.

On the National Stock Exchange RIL jumped 1.61 per cent to a high of Rs. 1071 in the afternoon trade. Nearly 82 lakh shares changed hands on both the bourses till the mid-session.

The country’s most valued firm’s current market valuation stood at Rs. 3.46 lakh crore.

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