Reliance Industries creates history, becomes first Indian firm to hit Rs 10 lakh crore m-cap mark

New Delhi: Reliance Industries on Thursday became the first Indian company to hit the Rs 10 lakh crore market valuation level in intra-day following a spike in its share price.

The oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10.02 lakh crore during morning trade on the BSE. The company's stock rose 0.73 per cent to a record peak of Rs 1,581.25 in intra-day trade on the stock exchange.

Later, it retreated from the milestone and the firm's market capitalisation (m-cap) was around Rs 9,99,368.41 crore at 1050 hours. Over the past few session, the company's market valuation has been hovering near the Rs 10 lakh crore mark.

In October this year, Reliance Industries (RIL) hit the Rs 9 lakh crore m-cap level. In August 2018, it became the first Indian company to have crossed the Rs 8 lakh crore m-cap mark.

So far this year, the company's scrip has zoomed 41 per cent, much higher than the 13.8 per cent rise in Sensex so far in 2019.

TCS is the country's second most valued firm with a market valuation of Rs 7,79,708.02 crore, followed by HDFC Bank with a market cap of Rs 6,96,494.75 crore, Hindustan Unilever (Rs 4,49,252.62 crore) and HDFC (Rs 3,99,599.38 crore). The m-cap figures of companies change daily with stock price movement.

(For all the latest News, Mumbai, Entertainment, Cricket, Business and Featured News updates, visit Free Press Journal. Also, follow us on Twitter and Instagram and do like our Facebook page for continuous updates on the go)

Free Press Journal