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Shares Of RIL Hit All-Time High, Becomes First Indian Co To Cross Market Cap Of Rs 9.5 Trillion

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Shares of Reliance Industries have added a feather in its cap by reaching a market cap of over Rs 9.5 lakh crore, the first Indian company to do so. In trade today, the stock jumped over 3 percent to scale to an all-time high of Rs 1,511.45 on the NSE.

 

The oil to telecom conglomerate in October announced that it will create a subsidiary company for bringing all the digital initiatives together with apps under one roof, with an investment of Rs. 1.08 lakh crore.

Shares Of RIL Hit All-Time High, Market Cap Crosses Rs 9.5 Trillion
Reliance Industries: Quotes, News
BSE 2393.90BSE Quote3.5 (0.15%)
NSE 2394.35NSE Quote3.8 (0.16%)

The largest digital platform would be set up that would spearhead on technological fronts in area including education and healthcare and other next-generation advancements such as blockchain, artificial intelligence, augmented and virtual reality among others.

RIL's restructuring of telecom/ digital business raises focus on asset monetisation and debt reduction, Morgan Stanley said.
Further, as per the foreign firm Merrill Lynch RIL has the potential to reach a market cap of $200 billion by 2022.
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