RIL first Indian firm to breach Rs 8 lakh-cr m-cap mark; stock hits 52-week high

Reliance Industries (RIL) today became the first Indian company to cross the Rs 8 lakh crore market capitalization mark while its stock hit a fresh 52-week high.

The stock closed 1.86 percent higher at Rs 1,269.70 on the BSE. During the trading session, the scrip touched a 52-week high of Rs 1,273.55

The surge in the counter has pegged the company's market valuation at Rs 8,04,691.40 crore at the end of today's session.

According to market experts, the stock has been on an uptrend after the company announced aggressive business plans at its annual general meeting (AGM) last month, including the launch of its fiber-to-the-home service, gig fiber.

On July 13, RIL's market valuation had briefly surged past the Rs 7 lakh crore mark, making it the second company after IT bellwether Tata Consultancy Services (TCS) to achieve this milestone.

On July 12, it crossed the USD 100-billion market capitalization mark for the first time in the last 10 years.

Again on July 20, Reliance Industries' market capitalization surged past Rs 7 lakh crore mark.

TCS' market valuation had in May surged past Rs 7 lakh crore.

RIL is also the country's most valued company in terms of market capitalization. It is followed by TCS, which has a valuation of Rs 7,79,287.34 crore.

The oil-to-telecom conglomerate was among the top gainers on the BSE Sensex, which closed at a fresh lifetime high of 38,336.76 today, up 51.01 points, or 0.13 percent.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)