Reliance Industries first Indian company to surpass ₹20 Lakh crore market cap; shares touch record high

Reliance Industries has achieved a historic milestone by becoming India's first company to surpass Rs 20 lakh crore in market capitalization.

The flagship company's stock reached a record high touching 2,940 rupees per share on Tuesday. This follows a 14% rally in the stock since the beginning of 2024 and gained 40% over the last one year.

As per CNBC-TV18, out of the 35 analysts that track Reliance Industries, 28 or 80% of them have a "buy" recommendation, five have a "hold" call on the stock, while two have a "sell" recommendation. Following closely behind Reliance Industries is TCS, with a market cap of 15.07 lakh crore rupees, and HDFC Bank with a 10.56 lakh crore market cap.

Thanks to the company's performance in the stock market, Ambani's personal wealth has significantly increased this year. Last month, he rejoined the exclusive club of centibillionaires, with his net worth reaching approximately $109 billion, according to Bloomberg's Billionaire Index.