Categories: Business

RIL's market cap crosses Rs 12 lakh crore, share price crosses new high

Photo: GOOGLE

RIL's m-cap hits Rs 12 lakh cr, shares at fresh high

new Delhi. Reliance Industries Limited (RIL) on Monday became the first Indian company to have a market capitalization of over Rs 12 lakh crore. The company's stock reached an all-time high of Rs 1938.80 in Monday's trading session.

RIL had a market cap of Rs 12.23 lakh crore around 10 am. Its stock was trading at Rs 1933, up Rs 54.50, or 2.90 percent from its previous close on the BSE.

RIL shares rose on Monday after the company announced an investment of Rs 730 crore by Qualcomm, another investor in Jio Platforms.

RIL on Sunday announced an investment of Rs 730 crore by Qualcomm Ventures to purchase a 0.15 per cent stake in Jio Platforms. The deal is based on the company's equity value of Rs 4.91 lakh crore and enterprise value of Rs 5.16 lakh crore.

With the latest investment, RIL has so far garnered a total investment of Rs 1.18 lakh crore in Jio platforms from global technology giants.

This post was published on July 13, 2020 1:52 pm

Content Team

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