RIL first to reach Rs19 lakh cr mcap

New Delhi: Reliance Industries Limited (RIL) on Wednesday became the first Indian company to hit the Rs19 lakh crore market valuation mark in intra-day trade. The market heavyweight stock jumped 1.85 per cent to its record high of Rs2,827.10 during the day on the BSE.

It finally settled flat at Rs2,777.90, up 0.08 per cent. Following the gain in the share price, the company's market valuation jumped to Rs19,12,814 crore in morning trade on the BSE. At the close of trade, the market valuation was at Rs18,79,237.38 crore. In March this year, the company's market valuation had gone past Rs18 lakh crore. Last year on October 13, the company's market valuation went past Rs 17 lakh crore mark.

Meanwhile, Mukesh Ambani's Reliance Industries Ltd has signed a formal shareholder agreement for the $2 billion TA'ZIZ chemical joint venture in the UAE and inked a pact to collaborate with ADNOC in finding and producing conventional and unconventional resources. So far this year, the stock has rallied 17.30 per cent.