How Reliance Industries’ Market Cap crossed Rs 8 lakh crore

New Delhi: Mukesh Ambani-led Reliance Industries (RIL) became the first Indian company to cross Rs 8 lakh crore market capitalisation on Thursday.

Around 2pm, RIL shares rose 1.72% to hit a record high of Rs 1,268 per scrip in the afternoon trade on BSE. Following the gain in the counter, the company’s market valuation soared to Rs 8,04,247.76 crore, data from the Bombay Stock Exchange (BSE) showed.

Reliance Industries was among the top five gainers of the S&P BSE Sensex, which traded at 38,357.18, up 71.43 points or 0.19%.

RIL shares opened at 1,244 apeice on the BSE and hit a fresh 52-week high of Rs 1,272. A total of 2.72 lakh RIL shares changed hands on the BSE. RIL shares traded with moderate volumes as compared to 3.58 lakh two-week average.

On the National Stock Exchange (NSE), RIL shares traded at 1,272.45, up Rs 25.25 or 2.02%. RIL shares hit a fresh 52-week high of Rs 1,272.50 on the NSE, whose benchmark index Nifty50 traded at 11,581.40.

On July 13, the market valuation of RIL surged past Rs 7 lakh crore mark, making it the second company after TCS to achieve this milestone.