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Reliance Industries Reclaims $100-Billion M-Cap Mark as Shares Hit Fresh 52-Week High

Image for Representation.

Image for Representation.

The shares of RIL have risen for the fifth consecutive session on Thursday, and surged to a 52-week high of Rs 1,091 on the BSE, amid aggressive business plan announced in the AGM, ahead of its June quarter earnings.

New Delhi: Reliance Industries on Thursday reclaimed the $100-billion m-cap mark in morning trade on the bourses, as the company shares hit a fresh 52-week high of Rs 1,091 apiece.

The shares of RIL have risen for the fifth consecutive session on Thursday, and surged to a 52-week high of Rs 1,091 on the BSE, amid aggressive business plan announced in the AGM, ahead of its June quarter earnings.

Shares of the company opened at Rs 1,043.15, then touched its 52-week high of Rs 1,091, up 5.27 per cent over its previous closing price.

Following the uptick in the counter, the market capitalisation (m-cap) of the company touched Rs 6,88,513.11 crore (around $100 billion).

Similar movement was seen on the NSE, where the stock opened at Rs 1,044.35, then surged 5.02 per cent to touch a 52-week high of Rs 1,091.

The company had last scaled this milestone in October 2007.

Following the surge in the counter, the benchmark Sensex soared 400 points to claim a record high and was quoted at 36,696.64 points, up 1.19 per cent at 12:03 pm.

The company announced aggressive business plan at its annual general meeting (AGM) held last week. The stock has been on an uptrend ever since and has gained 13.05 per cent since July 5.

At the AGM, Mukesh Ambani had unveiled an ultra high-speed fixed line fibre broadband for homes and enterprises across 1,100 cities and announced plans for an e-commerce platform that may rival likes of Amazon.

(Disclosure: News18.com is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.)