The market capitalization of Reliance Industries Ltd, the oil-to-telecom conglomerate, surged past the Rs 20 lakh crore mark on Tuesday. This achievement comes on the heels of the flagship company RIL’s shares hitting a record high in today’s trading session. As of 11:28 am, Reliance industries was trading 1.55% higher at Rs 2,947.95 per share.
Reliance Industries makes history as it becomes first Indian company to reach Rs 20 lakh crore market capitalisation.
The recent listing of Jio Financial Services, a subsidiary of Reliance, also contributed to this achievement, boasting a market capitalization of Rs 1.70 lakh crore. It’s important to consider that Reliance’s share price is currently trading at the ex-demerger price.
RIL’s stock has exhibited remarkable performance, witnessing a nearly 14% increase in value this year alone and a staggering rally of almost 40% over the past twelve months.
What’s more, Reliance Industries has delivered positive returns consistently on an annual basis since 2015, with the exception of 2014 when it experienced a minor decline of 0.5%.
This milestone underscores Reliance Industries’ continued dominance in the Indian business landscape, propelled by its diversified portfolio and strategic initiatives.