Mumbai, Oct 18: Mukesh Ambani-led Reliance Industries Limited (RIL) has become the first Indian company to attain a market capitalisation of Rs 400,000 crore (over USD 100 bn) after its share prices increased by 4.26 per cent today.
The share prices of the company today rose by Rs 114.7 to an all-time high of Rs 2805, pushing its market capitalisation to Rs 407,748.82 crore (USD 103 bn). A total of 10.57 lakh shares of RIL changed hands at the exchange in the afternoon trade.
Global investment bank Morgan Stanley had, in a report, earlier predicted in the month of August that RIL could be the first Indian company to cross the USD 100 billion mark of market capialisation by August 2008. The report had forecast a share price surge of about 37 per cent over the next year.
RIL crossed the milestone before the time limit and captured a market capitalisation of 103 billion US dollar. At the time when Morgan Stanley had made the forecast, the company had a market capitalisation of USD 68 million.