(RIL) added another feather to its cap by becoming the first-ever Indian company to hit a market capitalization (m-cap) of Rs 19 lakh crore.
Despite weakness in the broader markets, the largest domestic company rallied 2 per cent to Rs 2,827.10 apiece, its new all-time high.
At its peak, the market capitalization of the oil-to-telecom behemoth stood at Rs 19,03,658.88 crore, with a free-float marketcap of Rs 9,70,866.03 crore.
Mukesh Ambani-led Reliance has raced past the Chinese lender ICBC, US beverage maker Pepsico, Japanese auto behemoth Toyota and media major Disney.
With a total m-cap of $248 billion, it is still behind Bank of America, Coca Cola, Pfizer, Abbvie, Eli Lilly, Novo Nordisk, Costco and BHP Group, which have m-cap between $250-$300 billion.
Santosh Meena, Head of Research, Swastika Investmart said RIL is firing on all cylinders because its petchem business is doing extremely well on the back of a surge in oil and gas prices.
"Its telecom business is unaffected by geopolitical tension and inflation whereas it is exploring synergies in its retail business," Meena added.
reliance retail revenue