Business

Mukesh Ambani’s Reliance Industries market valuation crosses Rs 14 lakh crore-mark

Reliance Industries’ market valuation crossed Rs 14 lakh crore-mark on Friday as its stock rallied over 4 per cent to scale its fresh peak.

The company’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 per cent 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 per cent to an all-time high of Rs 2,149.90.

Shares of Reliance Industries had on Thursday also jumped nearly 3 per cent amid reports that Amazon was eyeing a stake in the conglomerate’s retail arm. The company’s partly paid-up shares zoomed 9.99 per cent 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 an m-cap of Rs 6,11,095.46 crore.

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