Mukesh Ambani’s Reliance Industries Ltd (RIL) just crossed the market cap of Rs 10 lakh Crore today which makes Reliance Industries Ltd the first Indian Company to achieve this. According to the data on Bombay Stock Exchange (BSE), RIL has witnessed a jump of 0.54%, RIL’s stock price was at Rs 1,578.
RIL’s jump from Rs 9.5 lakh crore from last week to Rs 10 Lakh Crore this week took 22 sessions. This makes RIL the most valued company on the stock exchange. It is followed by Tata Consultancy Services with an m-cap of Rs 7.81 Lakhs crore. In October 2019, RIL hit the Rs 9 Lakh crore market cap on intraday trading, which was again a first for an Indian company. The share price of Reliance Industries Ltd saw a rise of 41% so far this year as compared to Nifty 50’s 11.61% gain.
What contributed to RIL’s Jump?
Rise in gross refining margins, launch of the home broadband business, hike in telecom tariffs, low capital expenditure intensity, a stronghold on consumer business have largely contributed to this increase in share price. RIL generates close to one-third of the profits from retail and telecom businesses with a higher contribution from Reliance Jio Infocomm Ltd. A recent announcement by Reliance Jio mentions the start of its commercial operation of a fiber-to-home business which aspires to reach 2 crore households and 1.5 crore business firms in the next 13-18 months.
Top 10 Companies by Market Cap (As of 28th Nov 12:44 pm)
|Company Name||Last Price||Market Cap (Cr)|
|Reliance Industries Ltd||1,575.90||998,988.06|
|Tata Consultancy Services Ltd||2,087.05||783,141.45|
|HDFC Bank Ltd||1272.40||696,475.44|
|Hindustan Unilever Ltd||2,090.85||452,629.73|
|Housing Development Finance Corp Ltd||2,317.40||400,299.80|
|ICICI Bank Ltd||517.55||334,584.28|
|State Bank Of India||349.40||311,825.93|
|Kotak Mahindra Bank Ltd||1,619.60||309,414.17|
Sensex and Nifty have opened at an all-time high today. Sensex saw a jump of 141 points to 41,161.54. Nifty opened at 12,132. For the first time Nifty bank has hit 32,000. Other stocks such as Bharti Infratel, Cipla, JSW were also the top gainers. On Wednesday, Sensex surged 199.31 points to close at the lifetime high of 41,020.61 whereas Nifty gained 63 points to record 12,100.70.
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