RIL becomes first domestic firm to breach Rs 11.5 lakh crore m-cap mark

New Delhi: With RIL stocks climbing about 3.57%, the market capitalization of Reliance Industries Limited crossed Rs 11.5 lakh crore mark, the first by any domestic company.

The RIL stocks jumped 3.57 per cent to close at Rs 1,851.40 on the BSE. During the day, it almost rose to 4% to a record high of Rs 1,858.

The company’s market valuation rose by Rs 40,508.8 crore to close at Rs 11,73,677.35 crore on the BSE.

This comes after the Oil to telecom giant bagged 12th foreign investment for its digital-arm Jio Platforms on Friday.
The company announced a stake sale of 0.39 per cent in its digital services subsidiary to US Semiconductor giant Intel’s investment arm Intel Capital for Rs 1,894.50 crore.

In the past two months, Jio raised Rs 1.17 trillion through stake sales to ramp up its digital services business and expedite its debt reduction goals.

22% gain in RIL stocks, this year

Gains in Reliance Industries’ shares were also instrumental in taking the BSE 30-share index higher by 465.86 points, or 1.29 per cent, to close at 36,487.28.

Reliance Industries, the country’s most valued firm, last month became the first Indian company to cross the Rs 11 lakh crore market valuation mark.

The stock has gained over 22 per cent this year so far.