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October 29, 2007 18:41 IST
Mukesh Ambani on Monday became the first Indian to head a group of companies with a combined market value of over Rs 5 trillion, while his group's flagship Reliance Industries [Get Quote] became the country's first firm crossing the capitalisation of Rs 4 trillion.
RIL's share price soared above 5 per cent to close at Rs 2,827, taking its market capitalisation to Rs 4,11,041.95 crore (nearly $104.22 billion). The stock had on October 18 already crossed the Rs 4 trillion mark in intra-day trade but today is the first day it has closed above the mark.
Combining the market cap of all three listed Mukesh Ambani group firm's -- RIL, Reliance Petroleum [Get Quote] and Reliance Industrial Infrastructure [Get Quote] -- the group's valuation crossed Rs 5,00,000-crore (Rs 5,000 crore) level for the first time, based on the closing prices of firms' scrip.
Reliance Petroleum is just a notch away from attaining the Rs 1,00,000 crore (Rs 1,000 billion) market cap. RPL scrip gained 9.80 per cent to end at Rs 221.90, touching a market capitalisation of Rs 99,855 crore (Rs 998.55 billion).
Besides, Reliance Industrial Infrastructure scrip has been on a gaining spree and had continously breached its upper circuit limit everyday of this month barring a few occasions.
Also the scrip struck its upper circuit limit with on Monday -- a gain of five per cent to settle at Rs 3,028.55 with a market cap of Rs 4,573 crore (Rs 45.73 billion).
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