Mukesh Ambani’s company crosses market cap of 10 lakh crores
New Delhi, Nov 28 (HS): Mukesh Ambani’s Reliance Industries has created a new history. On Thursday, the market cap of Reliance Industries crossed Rs 10 lakh crore. It has become the first company in India to achieve such a feat. Last week on November 19, the company touched a market cap of 9.50 lakh crore.
Actually, the stock of RIL was trading at Rs 1579 at 10.10 am. At the same time, the market value of Mukesh Ambani’s company crossed Rs 10 lakh crore. RIL became the first company in the country in August 2018 when it’s market value crossed Rs 8 lakh crore.
In just 40 days, Reliance Industries has set a market cap of 9 lakh crore to 10 lakh crore. Let me tell you, on October 18, the company touched a market cap of 9 lakh crore. In this way, Reliance has achieved a big achievement by increasing its market capitalization by one lakh crores in about a month.
Tata Consultancy Services has the highest share after Reliance Industries. TCS has a market cap of Rs 7.81 lakh crore. While HDFC Bank is at number three with a market cap of 6.96 lakh crore. Hindustan Unilever had a market cap of Rs 4.50 lakh crore at number four and HDFC’s market cap at number 4 was Rs 4 lakh crore.
Market experts said that its stock will grow more rapidly in the coming days. Recently, Jio is also relieved after the decision of the telecom companies to increase the tariff. The company has also benefited due to this.
Regarding RIL, Bank of America Merrill Lynch has said that it could become the first such company in India to achieve a market cap of $ 200 billion in the next two years.
