NEW DELHI:
Reliance Industries Limited (RIL), which became the first company in India to cross the Rs 8 lakh crore market cap mark, may well hurtle towards the Rs 10 trillion mark before the end of the year if the market's current bull run continues.
The company has taken just 41 days, or a little over a month, to gain Rs 1 lakh crore in market value from Rs 7 lakh crore- mark which it crossed last month.
At the peak of the bull run in 2007, RIL had taken just 40 days to gain Rs 1 lakh crore, when it went from Rs 3 lakh crore to Rs 4 lakh crore — its fastest ever gain of a trillion rupees.
The time taken by the stock to rise from Rs 7 lakh crore to Rs 8 lakh crore is its second fastest ever — which means, in the next 11 weeks or so, it could end up gaining Rs 2 lakh crore if the current bull run continues.
The company's market value, which first crossed Rs 4 lakh crore in 2007, fell victim to the worldwide stock market crash that followed the US subprime crisis. However, RIL regained the mark in February 2017.
Since then, in a little less than 18 months, its market value has more than doubled, closing at Rs 8.04 lakh crore on Monday.
