Reliance Industries m-cap inches closer to Rs 10 lakh cr-mark; share price jumps over 37% this year
Reliance Industries on Tuesday achieved another milestone, becoming the first Indian firm to hit a market valuation of Rs 9.5 lakh crore.
The company's stock on Wednesday climbed 4.10% to Rs 1,571.85, its record high, on the BSE
Led by gains in its stock price, the company's market valuation rose to Rs 9,90,366.80 crore during the morning trade
Last month, RIL became the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade
New Delhi: The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark helped by continuous rise in its share price.
— CNBC-TV18 (@CNBCTV18Live) November 20, 2019
At the close of trade on Wednesday, the company's stock rose 2.47 percent to Rs 1,547.05 on the BSE. During the day, it jumped 4.10 percent to Rs 1,571.85 —its record high.
On the NSE, it climbed 2.56 percent to close at Rs 1,548.50.
The rally in the company's scrip helped its market valuation or market capitalisation (m-cap) rise to Rs 9,80,699.59 crore. During the day, it zoomed to Rs 9,96,415 crore.
Billionaire Mukesh Ambani's Reliance Jio on Tuesday said it will increase mobile phone call and data charges in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea on tariff hike.
In terms of traded volume, 11.40 lakh shares of the company were traded on the BSE and 1.98 crore shares on the NSE during the day.
So far this year, RIL's share price has jumped over 37 percent.
Reliance Industries Ltd (RIL) on Tuesday achieved another milestone, becoming the first Indian firm to hit a market valuation of Rs 9.5 lakh crore.
Last month, RIL became the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade.
In August 2018, RIL became the first domestic firm to cross the Rs 8 lakh crore mark in terms of market valuation.
TCS is the country's second most valued firm with a market valuation of Rs 7,91,753.17 crore followed by HDFC Bank with a market cap of Rs 6,98,309.14 crore, Hindustan Unilever (Rs 4,41,480.95 crore) and HDFC (Rs 3,82,429.40 crore).
The market capitalisation (m-cap) figures of companies change daily with stock price movement.
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Firstpost)
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The RBI also took note of the recent outrages in the HDFC Bank's internet banking and payment system on 21 November owing to a power failure at the bank’s primary data centre
Mittal, who has time and again drawn attention to the high taxes and levies in the sector, said it is important for the telecom industry to be sustainable as it is "high capital-intensive"