RIL's market cap crosses Rs 400,000 crores
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.
UNI