Reliance Industries Hits ₹20 Lakh Crore Market Cap Milestone:
Mukesh Ambani‘s company, Reliance Industries Limited (RIL), has reached a significant milestone by becoming the first Indian company to achieve a market capitalization of ₹20 lakh crore. This is a remarkable feat in the business world. The company's shares reached a 52-week high of ₹2,957.80 during intra-day trading. However, today, the shares were trading slightly lower at ₹2,924.55, after opening at ₹2,911.40.
During intra-day trading, the market valuation of Reliance Industries surged to ₹20,01,279.72 crore, and by close, it stood at ₹19,81,635.72 crore. On the NSE, the company's shares rose by almost 1.89% to a record high of ₹2,958 apiece but closed slightly lower at ₹2,926.20 apiece.
Reliance Industries maintains its position as the top-ranked company among the top-10 most valued firms, followed by names like TCS, HDFC Bank, ICICI Bank, Infosys, Life Insurance Corporation of India, State Bank of India, Bharti Airtel, Hindustan Unilever, and ITC.
Last month, Reliance Industries witnessed heavy demand for its shares, resulting in a climb of over 7%, pushing its market valuation past the ₹19 lakh crore mark. Over the past two weeks alone, the market value of RIL stock has increased by nearly ₹1 lakh crore.
The broader market indices also showed positive movements, with the BSE Sensex gaining 482.70 points to close at 71,555.19 points, and the NSE Nifty rising by 127.20 points to end the day at 21,743.25 points.
In its financial performance, Reliance Industries reported a 9% rise in net profit, reaching ₹17,265 crore for the three months ended December 2023. This indicates the company's continued strength and growth in its operations.
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