In the early trade on Monday, Reliance Industries Limited (RIL) touched one more milestone as its market cap crossed ₹5,00,000 crores for the first time. On Monday, RIL became the second company after TCS to touch the figure of ₹5 lakh crore worth of market cap. TCS is now the second most valued company in the Indian market with a total market cap of ₹4,59,630 crore.
At 12:20 pm on Monday, RIL stock was trading at ₹1558.80 and the total market cap of the company at that point remained ₹5,05,970 crores. The highest gain for RIL stock on the day was 1.8%. RIL has seen an increase of 11% in July, whereas, in 2017, the stock has gone up by over 41%.
RIL is going to announce the figures of Q1 FY18 on Thursday. The following day, it will hold the annual general meeting. The annual general meeting might see a number of new announcements by Reliance and the same expectations have resulted in a positive trend for the shares of the company. It’s telecom venture, Reliance Jio is expected to announce budget LTE enabled phones in the AGM.