Reliance Industries market valuation hits Rs 12 lakh crore, shares at all time high

Following the jump in its share price, the company's market valuation of the company rose to Rs 12,26,231.01 crore on the BSE.

New Delhi:Reliance Industries (RIL) on Monday became the first Indian company to reach market capitalisation of Rs 12 lakh crore, with shares reaching a fresh high of Rs 1,934.30.

The market-heavyweight stock jumped 2.97 per cent to a record high of Rs 1,934.30 on the BSE.

At the National Stock Exchange (NSE), it rose by 3.23 per cent to a lifetime high of Rs 1,938.70.

Following the jump in its share price, the company's market valuation of the company rose to Rs 12,26,231.01 crore on the BSE.

Reliance Industries was one of the top gainer in the Sensex pack, after the company on Sunday said it has secured Rs 730 crore from wireless technology leader Qualcomm by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.18 lakh crore.

With this deal, Reliance has sold 25.24 per cent stake in Jio Platforms Ltd - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps.

Reliance Industries, the country's most valued firm, last month became the first Indian company to cross the Rs 11 lakh crore market valuation mark.

Meanwhile, ReliancePP or the partly paid-up shares issued in recently concluded rights issue have a market valuation of Rs 44,820.91 crore. ReliancePP shares rose by 8.48 per cent to Rs 1,075 on the BSE.

The company became net debt-free on June 19, following capital raising initiatives in Jio Platforms and the rights issue.

(With PTI Inputs)