Rights issue helps RIL reclaim Rs 10 lakh crore m-cap

Mumbai: Reliance Industries on Thursday reclaimed Rs 10 lakh crore market-capitalisation mark after its shares surged over 2.4 per cent on the back of the success of the rights issue.

RILNSE 1.37 % closed at Rs 1,579.95 on the BSE, a gain of Rs 37.50 or 2.43 per cent over the previous day close.

This took the m-cap past Rs 10 lakh crore – Rs 10.01 lakh crore to be precise, according to stock exchange data.

The stock traded at this level last on May 11, 2020.

The oil-to-telecom conglomerate on Wednesday closed a Rs 53,124 crore rights issue, India’s largest ever, with an oversubscription.