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RIL Hits Record High; Becomes Rs. 12-Trillion M-Cap Company
After whopping gains of over 100% since March lows, RIL stock in Monday's (July 13, 2020) opening trade jumped to a new high of Rs. 1917 per share. The stock ever since its rights issue and back to back investment into its digital arm Jio Platforms has been on a high.And in the process the company has now become the first Indian company to hit market cap of Rs. 12 trillion.
This is a 13th investment into the company's Jio Platforms in 3 months time and would see inflow of Rs. 730 crore.
Experts opine though the overall landscape is highly promising given the company's positioning in telecom and even the retail space, the sharp run now to the current level, demands investors cautiousness.
At 9:22 am, the stock traded higher by 1.68% or Rs. 31.50 at Rs. 1910 per share.
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