Reliance Industries touches market cap of Rs. 10 lakh crore, first Indian company to reach the milestone

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Today, 28th November 2019, Reliance Industries Limited (RIL) touched the market capitalisation of Rs. 10 lakh crore, by doing so, it became the only company in India who has reached such a landmark. RIL share price bloated to a new all-time high price of Rs. 1,582.25. Previously, RIL share price rose to 1,569.75 on BSE.

Today, RIL attained a market cap of Rs. 10,01,270 crore, as the stock opened at Rs. 1,572 on BSE today, 0.17% higher. The company has already gained over 1.3% in stock price in the last 2 days. Additionally, since the last 1 month Mukesh Ambani led RIL has seen a surge of 10% on BSE.

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Since last year November, the company’s stock has gained by over 37% and since the start of 2019 RIL’s stock has risen by over 40%.

On Tuesday, RIL came close on touching Rs. 10 lakh crore Market Capitalisation (M-Cap) as it rose to Rs. 9,99,045 crores ($ 139 billion), but by the end of the day, fell down to Rs. 9,88,179,79 crore (around $ 138 billion). Yesterday, (on Wednesday) RIL’s M-Cap stood tall at Rs. 9,91,381 crore.

On 19th November, RIL share price swelled as company’s M-Cap reached Rs. 9.5 lakh crore, making it the first company to reach this milepost. RIL’s share price rose as an aftermath of Bharti Airtel and Vodafone India announced an increase in the price of their plans and tariffs which will be applicable from December 2019. As Reliance Jio did not change its tariffs, the company benefitted.

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Last month, on the 18th Reliance became the first Indian firm that successfully captured M-Cap of Rs. 9 lakh crore.

Mukesh Ambani led RIL has seen massive growth in its M-Cap since the company reported 18% increase in its Q2 profits on the 18th of October 2019. Since then company stock have increase by 185.1 points or 13.25%.

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