RIL becomes India’s first firm to cross Rs 10-L Cr market cap

New Delhi: The world’s largest refiner has now become India’s first company to cross Rs 10-lakh-crore in market capitalisation.Shares of Reliance Industries Ltd. rose as much as 0.64 percent to Rs 1,579.90 apiece- an all time high.

It has risen 41 percent so far this year compared with the Nifty 50 Index’s nearly 11.61 percent gain during the period, as per Bloomberg data.

The rally in the oil to telecom conglomerate’s share price raised Mukesh Ambani’s net worth to more than $60.7 billion, as of Wednesday, according to Bloomberg Billionaires Index. Mukesh Ambani, the richest man in Asia, owns half of the RIL stakes.

The company’s market value jumped to RS 10L cr from Rs 9L cr in only 25 trading days, whereas it took 284 session to increase from Rs 8L cr to Rs 9Lcr.