Reliance Industries’ stock surged, pushing its market valuation back above Rs 20 lakh crore. This follows a significant rally in the broader equity markets.
The bellwether stock went up by 1.90 per cent to settle at Rs 1,495.20 on the BSE. During the day, it climbed 2.14 per cent to Rs 1,498.70.
At the NSE, it rallied 1.90 per cent to Rs 1,495.30.
Tracking a rally in the stock, the company’s market valuation surged by Rs 37,837.9 crore to Rs 20,23,375.31 crore.
Rally in the blue-chip stock was instrumental in driving the equity markets higher. The 30-share BSE Sensex jumped 1,000.36 points or 1.21 per cent to settle at 83,755.87. The 50-share NSE Nifty rallied 304.25 points or 1.21 per cent to 25,549.
Reliance Industries Ltd (RIL) had on February 13 last year became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore.
The company is the most valuable domestic firm in terms of market valuation followed by HDFC Bank with a market capitalisation of Rs 15,51,218.93 crore, Tata Consultancy Services (Rs 12,45,219.09 crore), Bharti Airtel (Rs 11,48,518.05 crore) and ICICI Bank (Rs 10,27,838.79 crore) in the top five order.
So far this year, Reliance shares have jumped 23 per cent.
