RIL becomes first domestic firm to cross Rs 12 lakh cr m-cap mark

Representational Image
Representational Image

Reliance Industries Limited (RIL) on Monday added another feather to its cap as its market valuation crossed Rs 12 lakh crore mark, a first by any domestic company.

The company's market valuation rose by Rs 40,508.8 crore to Rs 11,73,677.35 crore at close of trade on the BSE.

RIL's partly paid-up shares crossed Rs 40,000 crore in market cap, thereby taking the aggregate market capitalisation of RIL to Rs 12.14 lakh crore (USD 163.1 billion).

The market heavyweight stock jumped 3.57 per cent to close at Rs 1,851.40 on the BSE. During the day, it rose 3.94 per cent to a record high of Rs 1,858.

On the NSE, it gained 3.75 per cent to settle at Rs 1,855.

In terms of volume, 9.49 lakh shares were traded on the BSE, while over 2 crore shares changed hands on the NSE.

RIL's partly paid-up or ReliancePP shares closed at Rs 957 on the NSE, up 8.6 per cent. This took the market capitalisation of 42.26 crore partly paid-up shares of the company to Rs 40,442 crore.

The price of ReliancePP shares, issued in recently concluded rights issue, have more than tripled in just a month. The issue closed on June 4, 2020, when investors had to pay Rs 314.25 to own each of the partly paid-up shares.

Gains in RIL's shares were also instrumental in taking the BSE 30-share index higher by 465.86 points, or 1.29 per cent, to close at 36,487.28.

RIL, the country's most valued firm, last month became the first Indian company to cross the Rs 11 lakh crore market valuation mark.

Shares of Reliance Industries on Friday rose by nearly 2 per cent after announcement that Intel Capital will buy 0.39 per cent stake in Jio Platforms.

The stock has gained over 22 per cent so far this year. RIL became net debt-free on June 19 following the capital raising initiatives in Jio Platforms and the rights issue.

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