Reliance Industries becomes first Indian firm to breach Rs 8 lakh-crore m-cap mark
PTI | Aug 23, 2018, 08:42PM IST
New Delhi, Aug 23: Reliance Industries (RIL) today became the first Indian company to cross the Rs 8 lakh crore market capitalisation mark while its stock hit a fresh 52-week high.
The stock closed 1.86 per cent higher at Rs 1,269.70 on the BSE. During the trading session, the scrip touched a 52-week high of Rs 1,273.55
The surge in the counter has pegged the company's market valuation at Rs 8,04,691.40 crore at the end of today's session.
According to market experts, the stock has been on an uptrend after the company announced aggressive business plans at its annual general meeting (AGM) last month, including the launch of its fibre-to-the-home service, GigaFiber.
On July 13, RIL's market valuation had briefly surged past the Rs 7 lakh crore mark, making it the second company after IT bellwether Tata Consultancy Services (TCS) to achieve this milestone.
On July 12, it crossed the USD 100-billion market capitalisation mark for the first time in the last 10 years.
Again on July 20, Reliance Industries' market capitalisation surged past Rs 7 lakh crore mark.
TCS' market valuation had in May surged past Rs 7 lakh crore.
RIL is also the country's most valued company in terms of market capitalisation. It is followed by TCS, which has a valuation of Rs 7,79,287.34 crore.
The oil-to-telecom conglomerate was among the top gainers on the BSE Sensex, which closed at a fresh lifetime high of 38,336.76 today, up 51.01 points, or 0.13 per cent.
The stock closed 1.86 per cent higher at Rs 1,269.70 on the BSE. During the trading session, the scrip touched a 52-week high of Rs 1,273.55
The surge in the counter has pegged the company's market valuation at Rs 8,04,691.40 crore at the end of today's session.
According to market experts, the stock has been on an uptrend after the company announced aggressive business plans at its annual general meeting (AGM) last month, including the launch of its fibre-to-the-home service, GigaFiber.
On July 13, RIL's market valuation had briefly surged past the Rs 7 lakh crore mark, making it the second company after IT bellwether Tata Consultancy Services (TCS) to achieve this milestone.
On July 12, it crossed the USD 100-billion market capitalisation mark for the first time in the last 10 years.
Again on July 20, Reliance Industries' market capitalisation surged past Rs 7 lakh crore mark.
TCS' market valuation had in May surged past Rs 7 lakh crore.
RIL is also the country's most valued company in terms of market capitalisation. It is followed by TCS, which has a valuation of Rs 7,79,287.34 crore.
The oil-to-telecom conglomerate was among the top gainers on the BSE Sensex, which closed at a fresh lifetime high of 38,336.76 today, up 51.01 points, or 0.13 per cent.
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