Reliance Industries hits new high; market-cap crosses Rs 10.5-trillion
Shares of Reliance Industries (RIL) hit a new all-time high of Rs 1,684, up 2 per cent on the BSE on Friday, extending its previous day’s 2.5 per cent gain after the company on Thursday said it has sold a 2.32 per cent stake in its digital unit to Saudi Arabia’s Public Investment Fund (PIF) for Rs 11,367 crore and has become net-debt free.
The past two day’s gain has seen the market capitalisation (market-cap) of the compant hit Rs 10.66 trillion on the bourses for the first time ever.
The investment by Saudi sovereign wealth fund is “at an equity value of Rs 4.91 trillion and an enterprise value of Rs 5.16 trillion”, the company said in a statement in post-market hours on Thursday.
