RIL stock at lifetime high; market cap surges past Rs 7 lakh cr for second time in a week
Reliance Industries Ltd's (RIL) market capitalisation (m-cap) stood at Rs 7,15,106.70 crore ($104 billion) at the close of trade on BSE.
New Delhi: RIL shares closed at a lifetime high on Friday and its market value surged past Rs 7 lakh crore for the second time in a week.
Reliance Industries Ltd's market capitalisation (m-cap) stood at Rs 7,15,106.70 crore ($104 billion) at the close of trade on BSE.
On July 13, RIL's m-cap had briefly surged past the Rs 7 lakh crore mark, making it the second company after Tata Consultancy Services (TCS) to achieve this milestone.
RIL stock rose by 2.23 percent to close at Rs 1,128.55 on BSE on Friday. During the day, it had surged 3.11 percent to Rs 1,138.25.
Reliance Industries had closed with $100-billion m-cap on 13 July for the first time in 10 years.
The market valuation of RIL had crossed the Rs 6 lakh crore mark in November last year.
TCS is the country's most valued firm with a market cap of Rs 7,64,164.46 crore, followed by RIL, HDFC Bank (Rs 5,78,899.21 crore), Hindustan Unilever Ltd (Rs 3,58,506.65 crore) and ITC (Rs 3,34,129.43 crore) in the top five order.
(Disclosure - Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
The joint venture, named TA’ZIZ EDC & PVC, will be a world-scale chemical production partnership at the TA’ZIZ Industrial Chemicals Zone in Ruwais
"The move is the first major overseas expansion of Reliance Industries' cricket operations in the global franchise-based leagues," according to a release.