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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Jio Studios has withdrawn its trademark application for 'Operation Sindoor': Reliance Industries
Mumbai: Reliance Industries has clarified that it has no intention of trademarking the term "Operation Sindoor", describing it as an evocative symbol of Indian bravery that belongs to the national consciousness. The company issued a statement on Friday, stating that its media arm, Jio Studios, had filed a trademark application inadvertently and without proper authorisation.
The statement read, "Jio Studios, a unit of Reliance Industries, has withdrawn its trademark application, which was filed inadvertently by a junior person without authorisation." It added that the company and all its stakeholders take immense pride in Operation Sindoor, which was launched by the Indian Armed Forces in response to a Pakistan-sponsored terrorist attack in Pahalgam. "Operation Sindoor is the proud achievement of our brave Armed Forces in India's uncompromising fight against the evil of terrorism," the company stated.
The clarification came after reports emerged that Reliance Industries, along with three other individuals, had submitted trademark applications for the term 'Operation Sindoor' under Class 41 of the Nice Classification. According to a report by Bar and Bench, the applications were filed between 10:42 am and 6:27 pm on May 7 by Reliance Industries, Mumbai resident Mukesh Chetram Agrawal, retired Group Captain Kamal Singh Oberh of the Indian Air Force, and Delhi-based lawyer Alok Kothari. All four had marked the term as “proposed to be used,” suggesting possible commercial use in the future.
Class 41 of the Nice Classification covers a wide range of services, including education and training, film and media production, live performances, digital content and publishing, and cultural or sporting events. It is a category commonly used by OTT platforms, broadcasters, production houses, and event organisers—leading to speculation that 'Operation Sindoor' might be used as a title for a film, documentary, or series.
The incident also sheds light on the lack of legal protection for the names of military operations in India. Currently, the Ministry of Defence does not register or treat such names as intellectual property, and they are not automatically safeguarded. This means that private individuals or companies can file trademark claims over such names unless specific legal steps are taken to prevent it.
