Stock Market

RIL is first Indian company to cross mcap of Rs 8 lakh crore

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Reliance Industries (RIL) on Thursday became the first Indian company to cross Rupee8 lakh crore market capitalisation.

Overall this year, the company’s market cap has increased by over Rupee2 lakh crore amid the surge of 37.8% in its share price.

The stock ended up nearly 2% at Rupee1,269.70 on the BSE on Thursday after scaling a record high of Rupee1,273.55 during the session.

Expectations of continued strong performance in RIL’s telecom arm, Jio, have continued to attract investor interest in the stock.

Since September 2016, foreign investors and local mutual funds have substantially increased their stakes.

“Valuations are still attractive.

I expect Reliance Industries to rise to Rupee1,500 by next Diwali,” said Sanjiv Bhasin, executive VP-markets and corporate affairs, at IIFL.




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Category: Stock Market


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