Shares of oil-to-telecom conglomerate Reliance Industries (RIL) rallied over 4 per cent on Friday, marking the sixth continuous session with gains in a row.
The spike in share prices led to an increase in Reliance Industries’ market valuation crossing Rs 14 lakh crore-mark. The company’s partly paid-up shares listed separately have a market capitalisation of Rs 53,821 crore. The combined market capitalisation of Reliance Industries now stands at Rs 14,07,854.41 crore.
After touching a record high of Rs 2,162, RIL shares closed 4.15 per cent up at Rs 2,146.20 on the BSE.
Similarly, on the NSE, RIL shares closed at Rs 2,148.40 up by 4.40 per cent, after it hit an all-time high of Rs 2,163.
Reports stating, Amazon was eyeing to buy a minority stake in the conglomerate’s retail arm also contributed to the rally.
The company’s partly paid-up shares zoomed 9.99 per cent to Rs 1,299 on the BSE.
ReliancePP, the partly paid-up shares issued in the recently concluded rights issue, had listed on the stock exchanges on June 15, 2020.
While RIL is the country’s most valuable listed company, the second-placed TCS has a market capitalisation of Rs 8,07,419.38 crore, followed by HDFC Bank at the third place with an m-cap of Rs 6,11,095.46 crore.