The market cap of Reliance Industries Limited (RIL) on Thursday rose to Rs 13 lakh crore, making it the first Indian company to achieve the feat. The company has gained a market cap of Rs 2 lakh crore over the last month.
Billionaire Mukesh Ambani's company has broken into the top 50 most valued companies globally after it became the first company with market capitalisation of over Rs 13 lakh crore. The oil-to-telecom conglomerate is ranked 48th in market cap globally, according to stock market data.
Globally, Saudi Aramco is the company with the highest market cap of $1.7 trillion, followed by Apple, Microsoft, Amazon, and Alphabet.
RIL's stock price has increased by over 139% since its 52-week low of Rs 867.82 on March 23.
Thursday's gains came after RIL's stock price shot up by over 3.5% to a new all-time high of above Rs 2,078.90 apiece on the Bombay Stock Exchange (BSE). It closed at Rs 2,060.65 on the BSE, up 2.82% over the previous day's close. This gave the firm a m-cap of over Rs 13 lakh crore.
Together with the firm's partly-paid shares that were issued in the recent rights issue and are traded separately, the company had a combined m-cap of Rs 13.5 lakh crore or over $181 billion.
No Indian company has ever crossed an m-cap of Rs 13 lakh crore. This is higher than Chevron's $170 billion m-cap as well as likes of Oracle, Unilever, Bank of China, BHP Group, Royal Dutch Shell and SoftBank Group.
Reliance is the 10th highest m-cap company in Asia. China's Alibaba Group is ranked 7th globally.
The only other Indian company in the top 100 firms is Tata Consultancy Services. As per its closing price of Rs 2,170.75 on the BSE, TCS has an m-cap of Rs 8.14 lakh crore or about $109 billion.
(With inputs from PTI)