Mukesh Ambani-led Reliance Industries achieves market cap of ₹20 lakh crore

Mukesh Ambani-led Reliance Industries Limited (RIL) became the first Indian company to achieve a market capitalisation of 20 lakh crore. The shares of the company had hit a 52-week high during intra-day trade at 2,957.80.

On Wednesday, the shares were trading in the red at 2924.55 after opening at 2911.40.

Mukesh Ambani, chairman of Reliance Industries Limited,
Mukesh Ambani, chairman of Reliance Industries Limited,

The market valuation of the company surged to 20,01,279.72 crore during the intra-day session and at close, the market capitalisation stood at 19,81,635.72 crore.

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On the NSE, shares of Reliance Industries rose nearly 1.89 per cent to reach a record high of 2,958 apiece — also its 52-week high level. Later, the blue-chip stock ended 0.74 per cent higher at 2,926.20 apiece.

In the past two weeks, the market value of RIL stock has gone up by nearly 1 lakh crore.

Reliance Industries continued to rule the chart in the ranking of top-10 most valued firms, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Life Insurance Corporation of India, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC.

Last month, shares of Reliance Industries were in heavy demand, climbing over 7 per cent, taking its market valuation crossing the 19.56 lakh crore mark.

In March 2022, the company’s market valuation had gone past the 18 lakh crore mark.

On Tuesday, the BSE Sensex surged 482.70 points to close at 71,555.19 points, while the broader NSE Nifty gained 127.20 points to end the day at 21,743.25 points.

Reliance Industries reported a 9 per cent rise in net profit at 17,265 crore in the three months ended December 2023.

(With PTI inputs)

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