Billionaire Mukesh Ambani-promoted Reliance Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market valuation mark.

Mukesh Ambani

Photograph: PTI Photo from the Rediff Archives

The market heavyweight’s stock jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE.

It finally settled at Rs 2,928.95 per piece, up 0.90 per cent on the bourse.

 

The company’s market valuation jumped to Rs 20,01,279.72 crore during the intra-day trade on the BSE and at close, the market capitalisation stood at Rs 19,81,635.72 crore.

On the NSE, shares of Reliance Industries rose nearly 1.89 per cent to reach a record high of Rs 2,958 apiece — also its 52-week high level.

Later, the blue-chip stock ended 0.74 per cent higher at Rs 2,926.20 apiece.

In the past two weeks, the market value of the oil-to-telecom conglomerate’s stock has gone up by nearly Rs 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, climbed over 7 per cent taking its market valuation crossing Rs 19.56 lakh crore mark.

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

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



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