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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Instagram removes BJP’s post claiming Cong ‘will snatch wealth of non-muslims’ following backlash
New Delhi: An animated video post shared on BJP’s official Instagram handle, asserting that the Congress party would snatch wealth from non-Muslims to ‘distribute it to its favorite community of invaders,’ has sparked significant backlash. Following the uproar, the photo sharing platform has taken down the post, reports Newslaundry.com.
Meanwhile, it is uncertain whether the post was removed by the BJP or by Instagram following mass reporting by several users as “misinformation” and “hate speech”. The video depicted Rahul Gandhi holding the Congress manifesto which transforms into the logo of the Muslim league. Furthermore, it sought support for PM Modi from every ‘Bharatiya,’ who is also shown wearing a saffron turban.
According to the report, it also contained a clip of PM Modi alleging that the former PM Manmohan Singh had said, “Muslims have the first claim on our resources,” insinuating that if the Congress were to assume power, it would confiscate the money and assets of non-Muslims, redistributing them to Muslims, whom it favored. Labeling Muslims as ‘infiltrators’, the video depicted historical invaders as looters who plundered India's resources and suggested that the Congress party continues to empower individuals from the same community.
The video then communicated that the Congress party’s manifesto is “nothing but Muslim league’s ideology in disguise. If you are a non-Muslim, Congress will snatch your wealth and distribute it to Muslims.” It also slinged the BJP’s official slogan ‘abki baar, 400 paar,’ and called that it was the need of the hour, since Modi only has the “strength to stop the Congress party’s evil plans.”
Similar claims have also been made by several BJP leaders. Recently, Union Minister Anurag Thakur stated that the Congress intends to “Give your children's property to Muslims.”
