Mumbai: Mukesh Ambani-led Reliance Industries Limited (RIL) has achieved a new position on Thursday. Reliance Industries became the first company in India to touch a market cap of $ 200 billion (about Rs 15 lakh crore). The stock of RIL set a new record during trading in Thursday’s session. Shares of the company rose over 8 per cent on the BSE to a record level of Rs 2,343.90. The company’s market cap quickly crossed $ 200 billion in shares.
The announcement of buying a stake in Reliance Retail by American company Silver Lake led to a huge purchase in RIL shares and the share price reached a new record. After Reliance Jio, now private equity firm Silver Lake will buy 1.75 per cent stake in Reliance Retail for Rs 7500 crore. Earlier, American equity firm Silver Lake also bought a 2.08 per cent stake in Jio Platforms.
On Thursday, Reliance Industries stock rose 8.45 percent and the stock reached a record new price of Rs 2,343.90. The company’s market cap rose sharply to Rs 14,84,634 crore, or $ 202 billion. In terms of market cap, the second largest company after Reliance is TCS, whose market cap is around Rs 8 lakh crore. In this way, TCS has lost a lot in the race to become number one in the market cap.
