NEW DELHI: Billionaire Mukesh Ambani promoted Trust Industries Ltd (RIL) on Tuesday became the first listed company to hit the Rs 20 lakh crore market evaluation mark. Shares of the market heavyweight jumped 1.88 per cent to its record high of Rs 2,957.80 apiece on the BSE. It finally settled at Rs 2,928.95 per piece, an increase of 0.90% on the exchange.
The company's market valuation jumped to Rs 20,01,279.72 crore during intraday trade on BSE and at close, the market capitalization stood at Rs 19,81,635.72 crore.
On the NSE, shares of Reliance Industries rose nearly 1.89 percent to hit a record high of Rs 2,958 apiece – also its highest level in 52 weeks. Later, the blue chip shares ended 0.74% higher at Rs 2,926.20 apiece.
In the last two weeks, the market value of shares of the oil and telecom conglomerate has risen by nearly 1 lakh crore.
Reliance Industries continued to dominate the rankings of the top 10 most valued companies, followed by TCS, HDFC Bank, ICICI Bank, Infosys, Life Insurance Corporation of India, State Bank of India, Bharti Airtel, Hindustan Unilever and ITC.
Last month, shares of Reliance Industries were in hot demand, rising over 7 percent, taking its market valuation past the Rs 19.56 lakh crore mark.
In March 2021, the company's market valuation crossed the Rs 18 lakh crore mark.
Reliance Industries reported a 9 percent increase in net profit at Rs 17,265 crore for the three months ending December 2023.