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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Vandalism at Allu Arjun's residence in Hyderabad
Hyderabad, Dec 22: A group of persons, claiming to be members of Osmania University Joint Action Committee, on Sunday vandalised flower pots and other things at the residence of top Telugu actor Allu Arjun here.
The protesters raised slogans against the actor and sought justice to the woman who died in a stampede at a movie theatre here earlier this month on the occasion of screening of the actor's latest film 'Pushpa-2'.
The protesters were taken away by the police.
A placard left by them said crores of rupees are made by making films, while those watching films are dying.
The OU-JAC was in the forefront of Telangana statehood agitation.
STORY | Vandalism at Allu Arjun's residence in Hyderabad
— Press Trust of India (@PTI_News) December 22, 2024
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