RIL Becomes First Indian Company To Touch Rs 20 Lakh Cr Market Capitalisation

Reliance Industries Ltd (RIL) on Tuesday became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore.

Shares of the Mukesh Ambani-promoted conglomerate also touched their 52-week highs during the intra-day trade amid firm sentiments in the broader market.

The scrip of Reliance Industries jumped 1.88 per cent to its record high of Rs 2,957.80 apiece before closing at Rs 2,928.95 per scrip, up 0.90 per cent, on BSE.

The market valuation of the company surged to Rs 20,01,279.72 crore during the intra-day session and at close, the market capitalisation stood at Rs 19,81,635.72 crore.

On the NSE, shares of Reliance Industries rose nearly 1.89 per cent to reach a record high of Rs 2,958 apiece -- also its 52week high level. Later, the bluechip stock ended 0.74 per cent higher at Rs 2,926.20 apiece.

In the past two weeks, the market value of the oil-to-telecom conglomerate's stock has gone up by nearly Rs 1 lakh crore.

Reliance Industries continued to rule the chart in the ranking of top-10 most valued firms, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Life Insurance Corporation of India, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC.

Last month, shares of Reliance Industries were in heavy demand, climbing over 7 per cent, taking its market valuation crossing the Rs 19.56 lakh crore mark.

In March 2022, the company's market valuation had gone past the Rs 18 lakh crore mark.

On Tuesday, the BSE Sensex surged 482.70 points to close at 71,555.19 points, while the broader NSE Nifty gained 127.20 points to end the day at 21,743.25 points.

Reliance Industries reported a 9 per cent rise in net profit at Rs 17,265 crore in the three months ended December 2023.