RIL market cap hits ₹9.5 lakh crore, a first for an Indian company

Shares of Reliance Industries rallied as much as 4% today to a new high of ₹1,514, pushing its market cap past the ₹9.5 lakh crore mark – the first by an Indian company. RIL shares ended 3.5% higher at ₹1,509 with a market cap of ₹9.57 lakh crore. In comparison, the Sensex today ended 0.45% higher. Year to date, RIL shares are up about 34%, sharply outperforming the broader markets.

Last month, when the Mukesh Ambani-led RIL had crossed the ₹9 lakh crore market cap mark, it was also the first Indian company to hit the milestone.

RIL had last month announced that it will set up a new subsidiary to bring all its digital initiatives and apps under a single entity, and infuse ₹1.08 lakh crore equity into this new unit.