RIL’s m- cap crosses $ 100bn mark again

New Delhi, July 12: Reliance Industries 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 Reliance Industries surged 4.42 per cent to its all- time closing high of ` 1,082.20 on BSE. Intra- day, it soared 6 per cent to ` 1,098.80.

In the morning trade, the market capitalisation ( m- cap) of the company touched ` 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 ` 68.58 against the dollar.

However, at close of the trade, the company’s market valuation slipped below the $ 100- billion mark. Helped by the surge in the stock, Reliance Industries’ market valuation zoomed ` 29,234.09 crore to close at ` 6,85,725.09 crore ($ 99.9 billion).

Reliance had earlier breached this mark in intra- day trade on October 18, 2007. The US dollar was quoted at ` 39.59 at that time.

At NSE, shares of the company gained 4 per cent to end at ` 1,080.90. The stock was the biggest gainer among the blue chips on both the key indices.

In terms of equity volume, 13.71 lakh shares of the company were traded on BSE and over 2 crore shares changed hands at NSE during the day.

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.

“RIL rose 4- 5 per cent and hit its all- time high, touching market capitalisation of $ 100 billion,” said Manoj Sachdeva, research head, Hem Securities.