Reliance Industries' market cap comes very close to Rs 10 lakh cr in intra-day trade as stock hits record high

New Delhi: The market valuation of Reliance Industries, the country’s most valued firm, came very close to the Rs 10 lakh crore mark in intra-day trade on Tuesday.

The oil-to-telecom conglomerate’s market capitalisation (m-cap) zoomed to Rs 9,99,045 crore ($139 billion) during the trade on the BSE. However, at close of trade it came down to Rs 9,88,179.79 crore (nearly $138 billion).

The company is still ahead of British energy major BP Plc in terms of market valuation.

BP Plc’s m-cap was at $131 billion in pre-market trade at NYSE.

The company’s stock rose 0.98 percent to a record peak of Rs 1,576 in intra-day on the BSE. Later, it however, closed marginally lower by 0.12 percent at Rs 1,558.85.

So far this year, RIL’s share price has jumped 38.46 percent.

Reliance Industries Ltd (RIL) last week achieved another milestone, becoming the first Indian firm to hit m-cap of Rs 9.5 lakh crore.

Also, last week the company surpassed BP Plc in terms of market valuation.

In October, RIL hit the Rs 9 lakh crore m-cap mark in intra-day trade, first by any listed company.

In August 2018, it became the first Indian firm to cross the Rs 8 lakh crore m-cap mark.

TCS is the country’s second most valued firm with a market valuation of Rs 7,68,075.63 crore followed by HDFC Bank with a m-cap of Rs 6,97,707.03 crore, Hindustan Unilever (Rs 4,46,211.06 crore) and HDFC (Rs 3,97,958.39 crore).

The 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)