New Delhi: RIL shares closed at lifetime high on Friday and its market value surged past Rs 7 lakh crore for the second time in a week.
Reliance Industries Ltd’s market capitalisation (m-cap) stood at Rs 7,15,106.70 crore ($104 billion) at close of trade on BSE.
On July 13, RIL’s m-cap had briefly surged past the Rs 7 lakh crore mark, making it the second company after TCS to achieve this milestone.
RIL stock rose by 2.23 per cent to close at Rs 1,128.55 on BSE on Friday. During the day, it had surged 3.11 per cent to Rs 1,138.25.
Reliance Industries had closed with $100-billion m-cap on July 13 for the first time in 10 years.
The market valuation of RIL had crossed the Rs 6 lakh crore mark in November last year.
TCS is the country’s most valued firm with a market cap of Rs 7,64,164.46 crore, followed by RIL, HDFC Bank (Rs 5,78,899.21 crore), HUL (Rs 3,58,506.65 crore) and ITC (Rs 3,34,129.43 crore) in the top five order.
Meanwhile, the Sensex rebounded over 145 points while the broader NSE Nifty settled above the 11,000-mark on Friday, driven by a spurt in IT and pharma counters.
Investors looked beyond the no-confidence motion against the government in the Lok Sabha and accumulated fresh positions, brokers said.
A recovery in the rupee from its record low also supported the bounce back, they added.