RIL hits market cap landmark
Reliance Industries Ltd (RIL) on Thursday became the first Indian company to have a market capitalisation of Rs 10 lakh crore ($139.8 billion) as its shares continued to rally. The oil-to-telecom conglomerate is now the world’s 66th most valued company ahead of entities such as BP and Netflix.
The RIL stock continued to rally on Tuesday and rose 0.65 per cent to close at Rs 1,579.95 on the BSE as it crossed the milestone.
During intra-day trades, the stock jumped 0.90 per cent to an all-time high of Rs 1,584. At the close, RIL’s market capitalisation shot up to Rs 10,01,555.42 crore. For Mukesh Ambani, who controls 50.01 per cent of RIL, the market cap milestone takes his net worth to almost Rs 5 lakh crore.
