Reliance Industries hits $200 billion m-cap, first Indian firm to do so
Reliance Industries became the first Indian company to hit $200 billion market cap on Thursday thanks to a spate of investments in its subsidiaries, which have pushed its share prices higher. Shares of telecom-to-oil major jumped over 6 per cent on BSE to a fresh record high of Rs 2,343.90. That means its market capitalization rose to a record Rs 14,14,764.90 crore or $192.85 billion. The partly paid up shares of the company also spiked nearly 8 per cent to new record high of Rs 1,365, which translates into the m-cap of Rs 57,815.36 crore or $7.82 billion. In total, the market values the company at $200.68 billion. This is about twice the size of the next biggest Indian firm, TCS, which is valued at $119 billion.