RIL becomes first Indian co to hit Rs 10 lakh crore market cap

Mukesh Ambani-led Reliance Industries (RIL) on Thursday hit Rs 10 lakh crore mark in market capitalisation as the bulls pushed the stock to new highs. It became the first India company to reach the coveted milestone.At 10.10 am, shares of RIL were trading at Rs 1,579, up 0.61 per cent on BSE. The market cap stood at Rs 10 lakh crore at the same time.The scrip has climbed 41 per cent year-to-date. In comparison, 30-share pack Sensex has grown barely above 12 per cent.The scrip had been flirting with the milestone since last week when it hit Rs 9.5 lakh crore in market capitalisation. The oil-to-telecom giant had hit Rs 9 lakh crore mark on October 18, being the first company in India to do so. It took little more than a month for the firm to add another Rs 1 lakh crore to its valuation.Tata Consultancy Services, the second most valued firm on the bourses, has a market cap of Rs 7.81 lakh crore.RIL was also the first company to reach Rs 8 lakh crore mark in August last year. It was also the first company to hit the $100 billion mark in market-cap in 2007, a feat it repeated last July.In dollar terms, the company is valued at $140 billion, more than the valuation of Total SA ($128 billion) and BP ($99.57 billion).Exxon Mobil is the most valued energy company in the world at $290 billion.

from Economic Times https://ift.tt/2DpzNFi