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.
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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.
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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.
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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.
