RIL shares jump over 6%; market valuation crosses Rs 11 trn mark
Shares of Reliance Industries on Friday jumped over 6 per cent after Mukesh Ambani announced that his oil-to-telecom conglomerate had become net debt-free.
Following stellar gains in its share price, the company’s market valuation rose by Rs 65,477.03 crore to reach Rs 11,15,418.03 crore on the BSE. The company became the first Indian firm to achieve the milestone of crossing Rs 11 trillion market valuation mark.
The heavyweight stock zoomed 6.23 per cent to close at Rs 1,759.50 on the BSE. During the day, it soared 7.99 per cent to Rs 1,788.60 — its all-time high.
On the NSE, it surged 6.47 per cent to settle at Rs 1,763.20.
“The bulls continued to dominate and helped the index to gain over one-and-a-half per cent. The surge was led by index heavyweight, Reliance Industries, which announced that it has become net debt-free,” said Ajit Mishra, VP – Research, Religare Broking Ltd.
