Oil-to-telecom major Reliance Industries (RIL) on Friday became the first company in India to hit the market capitalisation of Rs 9 lakh crore. RIL was also the first company to reach Rs 8 lakh crore mark in August last year. The market-cap of Mukesh Ambani-led company stood at Rs 9.03 crore when the stock traded at Rs 1,428, up 2 per cent at 10.45 hours (IST) on Friday ahead of its September quarter earnings due later in the day. IT giant TCS, which has seen some selling lately, was at a distant second with a market-cap of Rs 7.66 lakh crore.
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Oil-to-telecom major Reliance Industries (RIL) on Friday became the first company in India to hit the market capitalisation of Rs 9 lakh crore. RIL was also the first company to reach Rs 8 lakh crore mark in August last year. The market-cap of Mukesh Ambani-led company stood at Rs 9.03 crore when the stock traded at Rs 1,428, up 2 per cent at 10.45 hours (IST) on Friday ahead of its September quarter earnings due later in the day. IT giant TCS, which has seen some selling lately, was at a distant second with a market-cap of Rs 7.66 lakh crore.
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Mukesh Ambani-led Reliance Industries (RIL) on Thursday hit Rs 10 lakh crore mark in market capitalisation as the bulls pushed the stock to new highs. It became the first India company to reach the coveted milestone. At 10.10 am, shares of RIL were trading at Rs 1,579, up 0.61 per cent on BSE. The market cap stood at Rs 10 lakh crore at the same time. Tata Consultancy Services, the second most valued firm on the bourses, has a market cap of Rs 7.81 lakh crore.
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The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark, surpassing British energy major BP Plc. At the close of trade on Wednesday, the company's market valuation or market capitalisation (m-cap) rose to Rs 9,80,699.59 crore (USD 136 billion). During the day, it zoomed to Rs 9,96,415 crore (USD 138 billion). BP Plc's m-cap was at USD 130 billion in pre-market trade at NYSE.
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Actions speak louder than words. Modi government increased the creamy layer income cap from Rs. 6 lakh to Rs. 8 lakh per year. To ensure that the most backwards within OBC community benefit from reservation within constitutional sanctity, it has constituted a commission to sub-categorise OBC communities.
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