Reliance Industries (RIL) on Thursday became the first Indian company to cross the ₹8-lakh-crore market capitalisation mark while its stock hit a fresh 52-week high.
The stock closed 1.86% higher at ₹1,269.70 on the BSE. The surge in the counter has pegged the company’s market valuation at ₹8,04,691.40 crore at the end of Thursday’s session.
On an uptrend
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 instroduction of its fibre-to-the-home service, GigaFiber.
On July 13, RIL’s market valuation had briefly surged past the ₹7-lakh-crore mark, making it the second company after TCS to achieve this milestone.