Mukesh Ambani's Reliance Industries creates history, first Indian co to hit Rs 9L cr m-cap
Billionaire Mukesh Ambani's Reliance Industries (RIL) on Friday added another feather to its cap and became the first Indian firm to hit the Rs 9 lakh crore market valuation mark. During late morning trade on BSE, the company's market capitalisation (m-cap) was Rs 9,01,490.09 crore.
On Friday, the scrip of the country's most-valued company was trading in the green. RIL shares rose more than 2.28 per cent to touch a record high of Rs. 1,428 ahead of the earnings announcement by the oil-to-telecom conglomerate.
Meanwhile, on the National Stock Exchange (NSE), Reliance Industries shares jumped up by 2.25 per cent to Rs. 1,427.90 at the day's highest level during the session.
In August 2018, RIL became the first domestic firm to cross the Rs 8 lakh crore mark in terms of market valuation.
The m-cap figure of companies changes daily with stock price movement.
Reliance Industries (RIL) is the country's largest petrochemical and second-largest oil refining company. The company has significant investments in telecom, consumer retail and media businesses in India. Its telecom subsidiary, Reliance Jio has garnered a large number of paying subscribers and has the opportunity to emerge as a top-three telecom player in a growing Indian market on the back of the launch of fibre-based broadband services.
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