Reliance Industries Hits Record High Of Rs. 1122

The stock of Reliance Industries has hit another high scaling to Rs. 1122 in intra-day trade on Friday. Since the company's 41st Annual General Meet on July 5, 2018, the stock has risen by more than 16%.

In the calendar year 2018 alone, the share price of Reliance Industries has surged 23%. Also on a more recent basis, the company hit a market cap of $100 billion, to rank next only to TCS in terms of market capitalization.

In the RIL AGM, Mukesh Ambani announced the launch of 'Jio GigaFiber' fiber-to-home service and 'Jio Giga TV' set-top box. Also, he put forth that within 22 months of Jio's commercial operation, the company's customer base has almost doubled to 215 million.

Both the voice and data usage has seen a significant increase over a one-year period, while data usage increased from 125 crore GB to 240 crore, voice usage also augmented from 250 crore minutes a day to 530 crore minutes a day.

Ambani further added, "The video consumption increased from 165 crore hours per month to 340 crore hours per month".

The company is yet to report its earnings for the quarter ended June. However there has been no announcement as to when the results will be out.

At 11:12 am, the stock of RIL was quoting higher by 1.64% at Rs.1121.95 on the BSE.

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