Four out of 10 firms add over Rs 1.71 lakh crore to m-cap
HDFC Bank and Life Insurance Corporation of India (LIC) emerged as the biggest gainers in line with an overall positive trend in equities.
Shares of oil-to-telecom conglomerate Reliance Industries (RIL) rallied over 4 per cent on Friday, marking the sixth continuous session with gains in a row.
The spike in share prices led to an increase in Reliance Industries’ market valuation crossing Rs 14 lakh crore-mark. The company’s partly paid-up shares listed separately have a market capitalisation of Rs 53,821 crore. The combined market capitalisation of Reliance Industries now stands at Rs 14,07,854.41 crore.
After touching a record high of Rs 2,162, RIL shares closed 4.15 per cent up at Rs 2,146.20 on the BSE.
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Similarly, on the NSE, RIL shares closed at Rs 2,148.40 up by 4.40 per cent, after it hit an all-time high of Rs 2,163.
Reports stating, Amazon was eyeing to buy a minority stake in the conglomerate’s retail arm also contributed to the rally.
The company’s partly paid-up shares zoomed 9.99 per cent to Rs 1,299 on the BSE.
ReliancePP, the partly paid-up shares issued in the recently concluded rights issue, had listed on the stock exchanges on June 15, 2020.
While RIL is the country’s most valuable listed company, the second-placed TCS has a market capitalisation of Rs 8,07,419.38 crore, followed by HDFC Bank at the third place with an m-cap of Rs 6,11,095.46 crore.
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