Reliance Industries becomes first Indian firm to cross market cap of Rs 9.5 lakh crore

Reliance Industries' shares on Tuesday touched a new 52-week high of Rs 1511.90, rising as much as 3.6 percent, pushing the company's market cap over Rs 9.5 lakh crore.

At 1.49 pm, Reliance Industries shares quoted at Rs 1506.60, trading 3.3 percent higher with a market cap of Rs 9,55,438 crore.

Last month, the Mukesh Ambani-led oil-to-telecom-retail conglomerate became the first Indian firm to cross a market capitalisation of Rs 9 lakh crore.

At Rs 9 lakh crore, RIL's market cap was higher than that of 6 PSUs together, which are State Bank of India (Rs 2.4 lakh crore), Oil and Natural Gas Corp. (Rs 1.8 lakh crore), Indian Oil Corporation (Rs 1.4 lakh crore), NTPC (Rs 1.2 lakh crore), Power Grid (Rs 1 lakh crore) and Bharat Petroleum (Rs 1.1 lakh crore).

The RIL stock opened at Rs 1467.50 per share, up over half a percent from its Monday's close of Rs 1458.50.

So far this year, RIL has returned over 34 percent to its investors, while the one-year return on the stock is over 31 percent.

In the last 10 years, shares of Reliance Industries have returned over 189 percent compared to Sensex return of 140 percent.

In the last five years, RIL has returned over 200 percent to its investors, against a Sensex return of 44 percent.

Reliance Industries posted a 18.3 percent increase in its net profit to a record Rs 11,262 crore in its second-quarter results on October 18.

RIL also announced that it will set up a new subsidiary to bring all its digital initiatives under a single entity with an equity infusion of over Rs 1 lakh crore.

Global investment firm Bank of America Merill Lynch (BoFAML) thinks RIL could become the first Indian company to reach $200 market cap.