Reliance Industries Market Cap Crosses 20 Lakh Crore, Becomes First Indian Company To Touch This Number

On February 13, the market cap of Mukesh Ambani's Reliance Industries Limited (RIL) crossed the Rs 20 lakh crore mark. With this, the company has become the first company in India to cross this limit. In the year 2024 so far, RIL shares have seen a 12 percent gain.

It hit a 52-week high

On February 13, the stock opened higher at Rs 2910.40 on the BSE. Within moments, it had surged nearly 2 percent from its previous close to hit a new 52-week high of Rs 2957.80. With this, the market cap of RIL has touched the figure of 20 lakh crore rupees.

The price of the stock is Rs 3193.20 with a strength of 10 percent. The market cap of Reliance Industries reached Rs 1 lakh crore in August 2005, Rs 2 lakh crore in April 2007, Rs 3 lakh crore in September 2007 and Rs 4 lakh crore in October 2007.

It reached 15 lakh crore rupees in September 2021

After this, it took 12 years to reach the market cap of Rs 5 lakh crore. This figure came in July 2017. RIL's market cap reached Rs 10 lakh crore in November 2019 and Rs 15 lakh crore in September 2021.

16.7% year-on-year growth to Rs 44,678 crore in the 2023 quarter

RIL's consolidated net profit rose 11% year-on-year to Rs 19,641 crore in the December 2023 quarter of fiscal 2023-24. Consolidated revenue rose 3.2% year-on-year to Rs 2.48 lakh crore from Rs 2.41 lakh crore in the same quarter a year ago. Reliance Industries' operating profit (EBITDA) rose 16.7% year-on-year to Rs 44,678 crore in the December 2023 quarter.

Jio's market share expected to reach 47 percent

Many analysts are calling the rally on RIL shares bullish. Brokerage Bernstein expects a robust CAGR of 20 percent in EPS growth by end-2026 for the company, led by the retail and telecom sectors. Jio's market share is expected to reach 47 percent by FY 2025.