RIL market cap crosses ₹5 lakh crore

Reliance Industries mcap crosses Rs 5 lakh cr mark after TCS

RIL market cap crosses ₹5 lakh crore

It further said that the scrip opened at Rs 1,534.30 and touched a high and a low of Rs 1,558.80 and Rs 1,534.30, respectively, in trade so far. According to a report on The Economic Times, shares of RIL have been on the rising spree since successful launch of Reliance Jio in September past year.

At NSE, shares of the company went up by 1.1 percent to close at Rs 1,551.75. Reliance is now the top contributor to Sensex gains. The scrip had also outperformed the market in past one year, jumping 52.12% as against Sensex's 14.6% rise.

The market cap of the company stood at Rs 5,04,458.09 on BSE when the markets stopped trading on Monday. Face value per share is Rs 10.

TCS had attained a market valuation of over Rs 5 lakh crore for the first time in 2014.

RIL shares saw a massive jump in late February on the prospects of fresh cash flows from the company's telecom business, when Mukesh Ambani announced that Reliance Jio has acquired over a 100 million subscribers in just less than six months of the launch of services, and said that the company would start paid services in April. The earlier launched Rs 309 plan will provide 2 months of unlimited Jio services. The annual general meeting might see a number of new announcements by Reliance and the same expectations have resulted in a positive trend for the shares of the company. On a consolidated basis, net profit of RIL rose 11.5% to Rs 8053 crore on 42.1% rise in net sales to Rs 84823 crore in Q4 March 2017 over Q4 March 2016. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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