Reliance Industries becomes first Indian firm to hit Rs 19 lakh cr market valuation mark


PTI, Apr 27, 2022, 12:29 PM IST

Reliance Industries Limited on Wednesday became the first Indian company to hit the Rs 19 lakh crore market valuation mark following a rally in its share price.

The market heavyweight stock jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE.

Following the gain in the share price, the company’s market valuation jumped to Rs 19,12,814 crore in morning trade on the BSE.

In March this year, the company’s market valuation had gone past Rs 18 lakh crore.

Last year on October 13, the company’s market valuation went past Rs 17 lakh crore mark.

Meanwhile, billionaire Mukesh Ambani’s Reliance Industries Ltd has signed a formal shareholder agreement for the USD 2 billion TA’ZIZ chemical joint venture in the UAE and inked a pact to collaborate with ADNOC in finding and producing conventional and unconventional resources.

So far this year, the stock has rallied over 19 per cent.

According to Santosh Meena, Head of Research, Swastika Investmart Ltd, Reliance industries is firing on all cylinders because its petchem business is doing extremely well on the back of a surge in Oil and Gas prices where Singapore gross refining margin (GRM) is at an all-time high.

”Its telecom business is unaffected by geopolitical tension and inflation whereas it is exploring synergies in its retail business. It is continuously expanding its path in the renewable energy business, which is opening more opportunities for the company,” Meena said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

CM Vijayan opens Huddle Global; Says Kerala will be key player in India’s deep tech ambitions

Bengaluru to host Aero India 2025 from Feb 10-14

Karnataka cabinet decides to reopen graft case against Ex-CM Yediyurappa and family

Man attacks nurse inside hospital, caught on camera

Special tribute concert for legendary singer SPB to be held in Bengaluru on Dec 8

Bengaluru Airport hosts Karnataka Rajyotsava celebration

Bengaluru Hubba to kickstart with folk dance performance by 500-member troupe

Related Articles More

Nine Adani Group firms trade higher; Adani Total soars nearly 19 pc

Equity markets rise in early trade amid buying in HDFC Bank, SBI

Sensex rises by 230 points on gains in Adani stocks, select blue-chips

Infosys to dish out average performance bonus of 90% for Q2

Gautam Adani, nephew Sagar not charged with bribery, but with fraud: Adani Green clarifies amid US DoJ indictment

MUST WATCH

Grafting

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing


Latest Additions

CM Vijayan opens Huddle Global; Says Kerala will be key player in India’s deep tech ambitions

Bengaluru to host Aero India 2025 from Feb 10-14

Karnataka cabinet decides to reopen graft case against Ex-CM Yediyurappa and family

Man attacks nurse inside hospital, caught on camera

Special tribute concert for legendary singer SPB to be held in Bengaluru on Dec 8

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.