Free Press Journal

RIL m-cap crosses $100-bn mark


New Delhi : Reliance Industries (RIL) on Thursday crossed the $100-billion market capitalisation-mark in morning trade for the first time in the last 10 years following surge in its share price.

Shares of RIL surged 4.42 per cent to its all-time closing high of Rs 1,082.20 on BSE. Intra-day, it soared 6 per cent to Rs 1,098.80.

In the morning trade, the market capitalisation (m-cap) of the company touched Rs 6,88,513.11 crore ($100.3 billion).

The market valuation of the company has been calculated on the basis of morning exchange rate of Rs 68.58 against the dollar.

However, at close of the trade, the company’s m-cap slipped below the $100-billion mark. Helped by the surge in the stock, RIL’s market valuation zoomed Rs 29,234.09 crore to close at Rs 6,85,725.09 crore ($99.9 bilion). RIL had earlier breached this mark in intra-day trade on October 18, 2007. The US dollar was quoted at Rs 39.59 at that time.  At NSE, shares of the company gained 4 per cent to end at Rs 1,080.90.

The stock was the biggest gainer among the blue chips on both the key indices. Rise in the stock was also instrumental in sending the benchmark Sensex higher by 282.48 points or 0.78 per cent to close at 36,548.41.