The stock of Reliance Industries has gained momentum on Friday due to the news of another major investment in Jio. On the Bombay Stock Exchange (BSE), Reliance Industries shares reached an all-time high of Rs 1,617.70. In this boom, the company’s market cap has increased to Rs 10.30 lakh crore. Reliance Industries has become the largest company in the country in terms of market capital.
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The stock market fell sharply in March after the Corona crisis, due to which Reliance Industries shares fell to Rs 867. At the same time, now its price has reached above 1600 rupees. According to BSE data, now Reliance is the largest company in the country in terms of market cap. Second is TCS. HDFC Bank is at number three.
Even on Thursday, it crossed 10 lakh crore rupees
The market valuation of Reliance Industries again crossed Rs 10 lakh crore on Thursday. Following the success of the rights issue, the company’s stock climbed more than 2.4 percent. On the BSE, the company’s stock rose 2.43 percent or Rs 37.50 to close at Rs 1,579.95. Thereafter the market valuation of the company reached Rs 10.01 lakh crore. Earlier, the company’s stock reached this level on 11 May 2020. The rights issue brought to raise Rs 53,124 crore of the company closed on Wednesday. It got 159 percent subscription.