RIL becomes first Indian company to hit Rs 8 lakh cr in m-cap

65513558 65512852 65512832 NEW DELHI: Reliance Industries, which is a neck-to-neck fight with TCS to claim the m-cap crown, on Thursday became the first listed company to hit Rs 8 lakh crore in market capitalisation. At Rs 1,262.30, the stock was trading 1.27 per cent higher in Thursday's trading, commanding a market capitalisation of Rs 8,00,001.54 crore.The market valuation of the oil-to-telecom behemoth stood considerably higher than TCS' Rs 7,77,870 crore m-cap. The Mukesh Ambani-led company had in July this year breached the $100-billion mark for market capitalisation, a feat achieved by the company only once before in 2007. At the company’s 41st annual general meeting on July 5, Chairman Mukesh Ambani said that RIL aimed to more than double its current size by 2025, as its customer centric business expands to match the traditional revenue stream. Shares of Reliance Industries have climbed 60 per cent in the last one year against 63 per cent rise in TCS stock during the same period.The RIL’s stock has contributed a lot to Nifty's 18 per cent rise during the period.

from The Economic Times https://ift.tt/2we3ia3