Reliance Industries shares surge by almost 4%, Mcap reaches ₹20 lakh cr once again

Shares of Reliance Industries Limited were in heavy demand on Wednesday, rising nearly 4 per cent, with its market valuation again crossing the historic Rs 20 lakh crore mark.

The bellwether stock jumped 3.60 per cent to settle at Rs 2,987.85 apiece on the BSE. During the day, it zoomed 4 per cent to Rs 2,999.90.

On the NSE, it climbed 3.48 per cent to Rs 2,983.75 per share.

The company's market capitalisation (mcap) jumped by Rs 70,039.26 crore to reach Rs 20,21,486.59 crore.

In volume terms, 4.71 lakh shares of the company were traded on the BSE and over 81.63 lakh shares on the NSE during the day.

Rally in the stock was instrumental in driving the markets higher. The 30-share BSE Sensex jumped 526.01 points or 0.73 per cent to settle at 72,996.31. The NSE Nifty went up by 118.95 points or 0.54 per cent to 22,123.65.

"The gains were led by industry heavyweight Reliance Industries and other energy stocks owing to a drop in crude oil prices," Avdhut Bagkar, Technical and Derivatives Analyst at StoxBox, said.

Reliance Industries Ltd (RIL) on February 13 this year became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore.

The company is the most valued domestic firm by market valuation followed by Tata Consultancy Services (Rs 13,88,441.09 crore), HDFC Bank (Rs 10,94,486.92 crore), ICICI Bank (7,61,126.88 crore) and Bharti Airtel (Rs 6,92,041.28 crore) in the top five order.

So far this year, shares of Reliance Industries have jumped 15.59 per cent.