RIL's market-cap re-enters $100-bn mark; shares hit 52 week high
Mumbai, July 12 : Supported by a surge in share prices, stocks of Reliance Industries hit $100-billion market capitalisation (m-cap) mark on Thursday, for the second time after first reaching the landmark level on October 18, 2007.
At closing, the company's m-cap stood at Rs 685,725.09 crore or $99.98 billion.
The share price of the company on the BSE Sensex surged to a 52-week high of Rs 1,098.80 per share ealier in the day, before settling at Rs 1,082.20, up 45.85 points or 4.42 per cent from its previous close.
"Rallying 14.5 per cent over the past five days, Reliance Industries became the second Indian company (after Tata Consultancy Services) to touch $100 billion market-cap on July 12, 2018," said Deepak Jasani, Head of Retail Research of HDFC Securities.
He further said: "Investors seemed to be enthused by the vision pronounced by the Chairman at the AGM (annual general meeting) of a strategic move to a technology platform company with three key verticals of mobile connectivity, fiber connectivity and new commerce platform for the retail business, even as the traditional businesses of energy and petrochemicals continue to perform quite well."
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India all out for 150 in first Test against Australia
Perth (PTI): India were all out for 150 at tea on the first day of the opening Test against Australia here.
India, who elected to bat, lost six wickets in the second session which had 24.4 overs.
Debutant Nitish Kumar Reddy top-scored with 41 off 59 balls. Rishabh Pant (37), Dhruv Jurel (11), Washington Sundar (4), another debutant Harshit Rana and captain Jasprit Bumrah (8) were the other five Indian batters to be dismissed in the post-lunch session.
For Australia, Josh Hazlewood (4/29), Mitchell Starc (2/14), Mitchell Marsh (2/12) and captain Pat Cummins (2/67) were the wicket-takers.
Earlier, opener Yashasvi Jaiswal and one-down Devdutt Padikkal failed to open accounts in their first Test outings in Australia while star batter Virat Kohli was dismissed for 5 after facing 12 balls.
The other opener, KL Rahul, got out to a controversial caught behind decision just before lunch after scoring 26 off 74 balls.
Brief Scores:
India: 150 all out in 49.4 overs (KL Rahul 26, Rishabh Pant 37, Nitish Kumar Reddy 41; Josh Hazlewood 4/29).
