Reportedly mukesh ambani led oil to telecom major reliance industries has become the first india company to reach a market capitalisation of Rs 10 lakh crore. This came after the company’s stock price rose to a high of Rs 1,581.25 on thursday at around 10am. This makes RIL the most valued listed company in the country in terms of market capitalisation and as of 11 20 am, the shares of RIL were trading 0.33% up at Rs 1,574.90 a share.
Market Capitalisation is the value of a company being traded on the stock market. It is calculated by multiplying the total number of shares with the current share price of the company. As per reports, the shares of RIL have been outperforming the market since the beginning of this year, surging nearly 40%. RIL was also the first india company to hit a market capitalisation of Rs 9 lakh crore on october 18. RIL is followed by Tata Consultancy services (TCS), which has a market cap of Rs 7.81 lakh crore.
Moreover apart from jio, analysts believe that its other consumer businesses such as reliance Retail are also expected to see strong growth. Analysts continue to have a positive outlook towards the company’s shares. reliance also recently announced that it would create a wallet PLATFORM’ target=’_blank’ title=’digital-Latest Updates, Photos, Videos are a click away, CLICK NOW’>digitalservices company, where it will invest Rs 100 lakh crore. RIL is looking to monetise assets and repay its debt, with the aim of making reliance industries a debt-free company by march 2021.