The shares of Reliance Industries (RIL) have risen to Rs 923.15, which is its highest level in six months.

The company stock closed 0.6 per cent higher at Rs 923.15 on Friday. Many analysts believe that the shares of the company may trade in the range of Rs 1100-1200 in the long range as the company recorded an increase of 19 per cent in net profits during the quarter till June 30 this year.

Analysts have said that the investors might be looking to pick up the company shares for a long period as the company's outlook for the long term remains strong. The shares of the company touched a high of Rs 923.15 before the company announced the results. The shares have risen 20 per cent compared to nearly 7 per cent rise in S&P BSE Sensex during the same period. Analysts says that investors are expecting further upsides in the price of shares.

They expect the shares of the company to rise during the next 2-3 quarter and thus the long term prospect for the shares of the company, Mukesh Ambani-led Reliance Industries on Friday reported a profit after tax (PAT) of Rs
5352 crore for the first quarter of the current financial year.