Reliance Industries' market capitalisation tops Rs 19 trillion intraday

Bets on new energy and oil-to-chemicals among reasons for the surge, say analysts

Reliance Industries (RIL) on Wednesday became the first Indian company to hit the Rs 19-trillion mark in terms of market capitalisation (m-cap) in intraday trade, as bets on new energy and oil-to-chemicals cheered investors.

Shares of the company jumped 1.85 per cent to its record high of Rs 2,827.10 during the day on the BSE, pushing up the market capitalisation of the firm to Rs 19.13 trillion. They finally settled at Rs 2,777.90 apiece, up 0.08 per cent, with an m-cap of Rs 18.79 trillion.

Last week, too, RIL’s market value was within touching distance of the Rs 19-trillion mark, with analysts