Reliance Industries Market Valuation Rises To 19 Lakh Crore, First Indian Firm To Reach That Level -By ASC

Reliance Industries became the first Indian company to achieve a valuation of 19 lakh crore

New Delhi:

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

Market heavyweights jumped 1.85 per cent to its record high of Rs 2,827.10 on the BSE.

Following gains in share prices, the company’s market valuation jumped to Rs 19,12,814 crore in morning trading on the BSE.

In March this year, the market valuation of the company had surpassed Rs 18 lakh crore.

Last year on October 13, the company’s market valuation surpassed the value of Rs 17 lakh crore.

Meanwhile, millionaire 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 entered into an alliance to work with ADNOC in sourcing and producing conventional and unconventional resources.

So far this year, the stock has risen more than 19 percent.

According to Santosh Meena, Head of Research, Swastika Investmart Ltd, the Reliance industry is rolling out all cylinders as its petchem business performed very well following the surge in Oil and Gas prices where Singapore’s gross refining margin (GRM) was at a lower level. high all the time.

“Its telecommunications business has not been affected by geopolitical tensions and inflation while it is exploring synergies in its retail business. It continues to expand its path in the renewable energy business, which opens up more opportunities for the company,” Mr Meena said.


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