RIL Becomes First Indian Company to Hit $210 Billion Market Cap
This is the first time ever that any Indian company has crossed the milestone of $200 billion market capitalisation
Reliance Industries Limited (RIL) has entered the top 40 of the world's most valuable firms and becomes the first Indian company to cross $210 billion in market capitalisation intra-day.
At this market valuation, Reliance Industries is now the world's 40th most valuable firm ahead of the likes of Exxon Mobil, PepsiCo, SAP, Oracle, Pfizer and Novartis. Reliance Industries is now among Asia's top 10 most valuable companies.
This is the first time ever that any Indian company has crossed the milestone of $200 billion market capitalisation. Reliance had crossed $150 billion market capitalisation on June 19. This means it has added $60 billion in investor value in less than 60 market days – or an average of $1 billion (over Rs 7,300 crore) per session.
The RIL scrip rose to its all-time record high of Rs 2344.95 on Thursday, on NSE intraday, before closing at Rs 2319 with a 7.29 percent gain. The Reliance PP scrip hit the 10 percent upper circuit on NSE to it's all-time closing high of Rs 1393.7.
This took RIL’s market capitalisation to Rs 15.45 lakh crore or $210 billion at peak valuation intra-day. At market close on Thursday, 10 September 2020, RIL’s M-Cap stood at $208.3 billion.
Reliance PP or the partly paid-up shares issued in recently concluded Rights Issue have jumped over 4.4 times in just about three months.
The issue closed on June 4., where investors had to pay Rs 314.25 to own each of the partly paid-up shares. The Reliance PP shares listed on stock exchanges on 15 June, which today closed at Rs 1393.7.
(This article has been republished in arrangement with IANS)
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