Reliance enters elite oil majors' club

The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark, surpassing British energy major BP Plc.

RIL m-cap inches closer to Rs 10 lakh crore mark; surpasses British energy major BP Plc in valuation.

The market valuation of Reliance Industries, the country's most valued firm, is fast nearing the Rs 10 lakh crore mark, surpassing British energy major BP Plc.

At the close of trade on Wednesday, the company's market valuation or market capitalisation (m-cap) rose to Rs 980,699.59 crore ($136 billion).

During the day, it zoomed to Rs 996,415 crore ($138 billion).

BP Plc's m-cap was at $130 billion in pre-market trade at NYSE.

Another global oil and gas giant Total SA's m-cap was at $143.10 billion in pre-market trading.

RIL's stock rose 2.47 per cent to close at Rs 1,547.05 on the BSE.

During the day, it jumped 4.10 per cent to Rs 1,571.85 -- its record high.

On the NSE, it climbed 2.56 per cent to close at Rs 1,548.50.

Billionaire Mukesh Ambani's Reliance Jio on Tuesday said it will increase mobile phone call and data charges in the next few weeks in compliance with rules, as it followed similar announcements by Bharti Airtel and Vodafone Idea on tariff hike.

In terms of traded volume, 11.40 lakh shares of the company were traded on the BSE and 1.98 crore shares on the NSE during the day.

So far this year, RIL's share price has jumped over 37 per cent.

Reliance Industries Ltd (RIL) on Tuesday achieved another milestone, becoming the first Indian firm to hit m-cap of Rs 9.5 lakh crore.

Last month, RIL hit the Rs 9 lakh crore m-cap mark in intra-day trade, first by any listed company.

In August 2018, it became the first Indian firm to cross the Rs 8 lakh crore m-cap mark.

TCS is the country's second most valued firm with a market valuation of Rs 7,91,002.70 crore followed by HDFC Bank with m-cap of Rs 6,98,227.03 crore, Hindustan Unilever (Rs 4,38,796.58 crore) and HDFC (Rs 3,79,950.64 crore).

The m-cap figures of companies change daily with stock price movement.

Photograph: Amit Dave/Reuters