Reliance Industries Is 1st Indian Company To Cross Rs 9 Lakh Cr Valuation; Shares At Historical High
Today is a big day for Reliance Industry. As Mukesh Ambani and entire management at Reliance is preparing to deliver their financial results for quarter ending September 30th, their share prices has broken several records.
As of now, Reliance Industries has become 1st Indian company ever to breach Rs 9 lakh crore valuation mark.
Not only this, but their share prices are also a historical high today: At the time of writing this article, RIL was trading at Rs 1416, which is 1.40% higher than yesterday.
This surge in share price of Reliance Industries has swelled their market capital to Rs 9,01,490.09 crore, which is a first for any Indian company.
Reliance Industries: India’s Most Valuable Company
With Rs 9 lakh crore market capital, Reliance Industries has maintained their position as India’s most valuable company by market capital.
TCS, the IT behemoth under Tata Group is India’s 2nd most valuable company. Their maximum market cap reached the figure of Rs 8.61 lakh crore, meanwhile HDFC Bank is India’s 3rd most valuable company.
For the April to June period, Reliance Industries posted a profit of Rs 10,104 crore, which was 6.8% more, compared to the last quarter.
Now, all eyes are set on the quarterly performance report to be shared by Mukesh Ambani today evening.
Stock Investors Wealth Grew By Rs 6 Lakh Crore In 6 Days
This is the week wherein not only Reliance, but most of the listed company’s share prices increased significantly.
Overall, stock investors’ wealth swelled by Rs 6 lakh crore in the last 6 days, as almost all major shares encountered a surge in their prices.
In the last 6 sessions, Sensex gained whooping 1417 points, as the market closed at 39,298 points. Nifty too gained 0.65% and closed at 11,661, while BSE-30 index gained 3.1% in the last 6 days.
Interestingly, foreign investment buyers were the ones who bought the most number of shares in the last 6 days, which showcases confidence in the economy, and Govt.
Among other shares, YES Bank witnessed the highest gain at 8%.
We will keep you updated, as we receive more updates.