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

BMW hit-and-run case: HC refuses to release accused Mihir Shah on ground of ‘illegal’ arrest

Perth Test, Day 4: Siraj removes Smith as Australia go into lunch at 104 for five

Skipper Rohit Sharma hit nets following arrival in Perth, will play two-day game in Canberra

UP: Misled by ‘Google Maps’, car falls into river from incomplete bridge, 3 dead

Kangana takes ‘demon’ jibe at MVA, says it lost Maharashtra for disrespecting women

Eastern states were considered backward earlier, I view them as India’s growth engine: PM Modi

Chennai Super Kings can use R Ashwin in a number of ways: Stephen Fleming

Related Articles More

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Air India Express increases flight operations from northeast destinations

Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle

Myntra pilots foray into quick commerce with ‘M-Now’ in select locations of Bengaluru

Never entered into pact to operate airport in Kenya: Adani

MUST WATCH

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar


Latest Additions

BMW hit-and-run case: HC refuses to release accused Mihir Shah on ground of ‘illegal’ arrest

Those rejected by people trying to control Parliament: PM Modi

Bengaluru: Man sustains severe leg injuries after being hit by car while sitting outside his house

Perth Test, Day 4: Siraj removes Smith as Australia go into lunch at 104 for five

Skipper Rohit Sharma hit nets following arrival in Perth, will play two-day game in Canberra

Thanks for visiting Udayavani

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