Business

Reliance Industries first Indian company to hit market valuation of Rs 9 lakh crore

NEW DELHI: Reliance Industries (RIL) on Friday added another feather to its cap. It has become the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade.

The company’s market valuation zoomed to Rs 9,05,214 crore on the BSE during the day. However, at the close of trade, the company’s market capitalization (m-cap) settled at Rs 8,97,179.47 crore.

Shares of the country’s most valued company rose by 1.37 percent to close at Rs 1,415.30 ahead of its earnings announcement. During the day, it spurted 2.28 percent to a record Rs 1,428.

RIL is controlled by Asia’s richest person Mukesh Ambani. The company became the first domestic firm to cross the Rs 8 lakh crore mark in terms of market valuation in August 2018.

TCS is the second most valuable company after RIL with a m-cap of Rs 7,71,996.87 crore, followed by HDFC Bank (Rs 6,72,466.30 crore), HUL (Rs 4,55,952.72 crore), HDFC (Rs 3,61,801.97 crore), Infosys (Rs 3,29,751.88 crore), Kotak Mahindra Bank (Rs 3,08,708.32 crore), ITC (Rs 3,02,861.98 crore), ICICI Bank (Rs 2,82,783.39 crore) and Bajaj Finance (Rs 2,39,947.60 crore) in the top-10 list.

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