RIL is first Indian firm to hit Rs 12 lakh crore market cap

Mumbai: Reliance Industries (RIL) on Monday became the first Indian company to reach market capitalisation of Rs 12 lakh crore, with shares reaching a fresh high of Rs 1,938.80.

In the morning, RIL’s market capitalisation was at over Rs 12.23 lakh crore. Its shares on the BSE were trading at Rs 1,933, higher by Rs 54.50 or 2.90 per cent from its previous close.

The bull run in RIL shares continued on Monday after the company announced another investment coming into Jio Platforms.

RIL on Sunday announced Qualcomm Ventures, the investment arm of Qualcomm Incorporated has committed to invest up to Rs 730 crore in Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
With the investment Qualcomm Ventures will pick up a 0.15 per cent stake in Jio Platforms.

With the latest investment, total investments into Jio Platforms have crossed Rs 1.18 lakh cr so far.

 

NT Bureau