RIL becomes 1st Indian firm with m-cap above Rs 6 lakh cr on closing basis

The stock settled the day at record high level of Rs 952

Reliance Industries, the most valuable firm on the bourses, has become the first Indian company to cross the Rs 6-lakh crore market capitalisation on the closing basis. 

On Wednesday, RIL settled the day at record high level of Rs 952, up 1.2% with a market cap of Rs 6.03-lakh crore. In intra-day trade, the stock hit a high of Rs 957 with a market cap of Rs 606,328 crore. 

By comparison, the benchmark S&P BSE Sensex closed 1.2% higher at 33,600 points. RIL touched an all-time high of Rs 958 on October 26, 2017, on intra-day basis.

Thus far in the calendar year 2017 (CY17), RIL has outperformed the market by surging 76% from Rs 540 (adjusted to 1:1 bonus share) on December 30, 2016. By comparison, the S&P BSE Sensex gained 26.2% so far in the current calendar year. The company added Rs 252,758 crore of market-cap so far in CY17.

RIL is the country's most valued firm followed by Tata Consultancy Services (TCS), which has a market-cap of Rs 497,94 crore. HDFC Bank (Rs 470,843 crore), ITC (Rs 328,593 crore) and Housing Development Finance Corporation or HDFC (Rs 278,376 crore) are others in the top five list.