RIL Shares Scale To Fresh All Time High; Becomes First Indian Co. To Hit M-Cap Of $250 Bn

Shares of Reliance Industries in trade on April 28, 2022 hit a new milestone of realising the m-cap of $250 billion as its shares peaked to anall time high price. On the NSE, the most valued firm scaled to a price of Rs. 2851 per share, while on the BSE it made a high of Rs. 2850 per share.

From the price of Rs. 2235.5 as on March 8, the scrip scaled to an all time high today, making gains to the tune of 27.5 % in 1 month 20 days time. But before that it was on a losing journey since October 2021.

On the sharp increase in RIL share price, the gap between TCS and RIL has widened with the former trading at a m-cap of Rs. 13,11,853 crore.

The rally in the stock price of RIL comes ahead of the Q4 earnings which are expected to be robust given the good refining margins. Also, the company is expected to do well in its retail as well as telecom business.

The stock also saw news based rallying as the conglomerate and Viacom 18 entered into a strategic tieup with Bodhi Tree. The partnership will lead to the establishment of the country's biggest TV and digital streaming companies.

At the closing the stock of Reliance Industries settled with gains of 1.49% at Rs. 2819.85 per share.