Reliance Industries (RIL) has rallied 6% to Rs 1,255, hitting an over 8-year high on the BSE in early morning trade. The stock is trading at its highest level since May 30, 2008. A sharp rally in stock has seen the market capitalisation of RIL crossing Rs 4 lakh crore.
At 09:55 am; the stock was trading at Rs 1,250, with m-cap of Rs 405,629 crore, the BSE data shows. The company’s m-cap gained by Rs 57,336 crore in past four trading sessions.
Earlier in January 18, 2008, RIL had m-cap of Rs 406,949 crore, the Capitaline data shows. RIL currently stands at number two position in overall m-cap ranking, and is behind the IT major Tata Consultancy Services (TCS) which has m-cap of Rs 488,676 crore.
RIL hit a record high of Rs 1,626 on January 15, 2008 in intra-day trade on BSE. It had highest m-cap of Rs 467,537 on January 14, 2008 on the closing basis.
In past four trading sessions, the stock surged 17% from Rs 1,074 on February 20, after Reliance Jio Infocomm (RJio), a subsidiary of RIL, announced that its tariff plans will become applicable from April 1, 2017. The S&P BSE Sensex was up 1% during the same period. Read more