Reliance Industries becomes first Indian company to hit $200 billion market cap

Billionaire Mukesh Ambani-led Reliance Industries on Thursday became the first Indian company to hit a market capitalisation of $200 billion, helped by strong rally in its share price. The RIL share price has gained 170 per cent since mid-March on the back of surge in investment in its retail and telecom business.

On Thursday, shares of oil-to-telecom conglomerate ended 7.1 per cent higher at Rs 2,314.65, against previous closing price of Rs 2161.25, on the Bombay Stock Exchange. During the day’s trade, the RIL shares gained as much as 8.4 per cent to hit a fresh all-time high of Rs 2,343.90. On the volume front, there was surge in volume trade as 24.50 lakh shares changed hands over the counter as compared to two-week average volume of 6.85 lakh shares.

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