Reliance Industries market valuation crosses Rs 14 lakh cr-mark
Reliance Industries' market valuation crossed Rs 14 lakh crore mark on Friday as its stock rallied over four percent to scale its fresh peak.
The oil-to-telecom conglomerate's partly paid-up shares listed separately have a market capitalisation of Rs 53,821 crore. The combined market capitalisation of Reliance Industries now stands at Rs 14,07,854.41 crore.
The stock of the country's most valued firm jumped 4.32 percent to a record high of Rs 2,149.70 on the BSE. This took its market valuation to Rs 13,54,033.41 crore in the late morning trade on the BSE.
On the NSE, shares of the oil-to-telecom conglomerate rose by 4.47 percent to an all-time high of Rs 2,149.90.
Shares of Reliance Industries had on Thursday also jumped nearly three percent amid reports that Amazon was eyeing a stake in the conglomerate's retail arm.
The company's partly paid-up shares zoomed 9.99 percent to Rs 1,299 on the BSE.
ReliancePP -- the partly paid-up shares issued in the recently concluded rights issue -- had listed on the stock exchanges on June 15, 2020.
While RIL is the country's most valuable listed company, the second-placed TCS has a market capitalisation of Rs 8,07,419.38 crore, followed by HDFC Bank at the third place with a market cap of Rs 6,11,095.46 crore.
Billionaire Mukesh Ambani's Reliance Industries Ltd has broken into the top 50 most valued companies globally after it became the first company with a market capitalisation of over Rs 13 lakh crore.
The oil-to-telecom conglomerate is ranked 48th in market cap globally, according to stock market data.
Globally, Saudi Aramco has the highest market cap of $1.7 trillion, followed by Apple, Microsoft, Amazon, and Alphabet.
Reliance on Thursday closed at Rs 2,060.65 on the BSE, up 2.82 percent over the previous day's close. This gave the firm a market cap of over Rs 13 lakh crore.
(Disclaimer: Additional background information has been added to this PTI copy for context)