Reliance Industries Limited is First Indian Company to Cross Rs 6 Trillion Market Capital

Posted on:28 Oct 2017 14:55:21
Reliance Industries Limited is First Indian Company to Cross Rs 6 Trillion Market Capital
28 October 2017 Current Affairs: Reliance Industries Limited (RIL) became the first Indian company to cross Rs 6 trillion market capitalization after its shares surged over 75% so far this year and hit a fresh lifetime high.

Currently, its market cap is at Rs 6.02 trillion.

The recent rally in the stock was due to tariff hike by its telecom arm Reliance Jio which, analysts expect, will improve the company’s profitability. Jio increased its tariff by 15% for its popular 84-day plan at Rs 459, under which subscribers get 1GB 4G data at high speed per day.
Reliance Industries Limited (RIL) became the first Indian company to cross Rs 6 trillion market capitalization after its shares surged over 75% so far this year and hit a fresh lifetime high.

Currently, its market cap is at Rs 6.02 trillion.

The recent rally in the stock was due to tariff hike by its telecom arm Reliance Jio which, analysts expect, will improve the company’s profitability. Jio increased its tariff by 15% for its popular 84-day plan at Rs 459, under which subscribers get 1GB 4G data at high speed per day.

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