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Reliance Industries reclaims Rs 10-trillion market capitalisation
Reliance Industries (RIL), owner of the country’s largest telecom operator Jio by subscriber base, has reclaimed Rs 10 lakh crore mark in market capitalisation (mcap) again on May 11
New Delhi: Reliance Industries (RIL), owner of the country's largest telecom operator Jio by subscriber base, has reclaimed Rs 10 lakh crore mark in market capitalisation (mcap) again on May 11. Last it hit the level was on January 17, 2020.
The stock gained 3.4 percent intraday on May 11 to hit day's high of Rs 1,614.85, taking total gains to over 82 percent from closing lows of March, outperforming equity benchmark indices which gained around 21 percent from March lows.
It was quoting at Rs 1,586.60, up 1.59 percent on the BSE with a market capitalisation of Rs 10,05,809.75 crore at 11am and was few rupees away from its record high of Rs 1,617.80 on the BSE and Rs 1,617.55 on the National Stock Exchange (NSE).
After the company announced its deleveraging plan in the AGM last year, the stock had picked up momentum and hit a record high in December.
