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Reliance Industries (RIL) on Friday became the first company in India to hit the market capitalisation of Rs 9 lakh crore.
On Wednesday, Bank of America Merrill Lynch had said that Reliance Industries would be the first Indian company to reach $200-billion market cap in 24 months,
In a report, BofA-ML said, its analysis indicates that incrementally three transformational drivers — new commerce venture, fixed broadband business and digital initiatives — could add $55-billion enterprise value for the company.
PTI adds
During late morning trade on BSE, the company’s market capitalisation (m-cap) was Rs 9,01,490.09 crore.
The scrip of the country’s most-valued company was trading in the green, up 2.28 per cent to a record Rs 1,428, ahead of its earnings announcement later in the day.
In August 2018, RIL became the first domestic firm to cross the Rs 8 lakh crore mark in terms of market valuation. The m-cap figure of companies changes daily with stock price movement.
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