New Delhi: Reliance Industries created a new history on Friday, becomes the first company in the country to reach a market cap of Rs 9 lakh crore. During the trading on the stock market on Friday, when Reliance shares were trading up 2 per cent at Rs 1,428, its market cap reached Rs 9.03 lakh crore. Earlier, Reliance Industries had a market cap of Rs 8 lakh crore in August.
Let us tell you that last year, RIL has also become the highest earning company in the country, leaving behind the Indian company Indian Oil Corporation (IOC). Spread across various sectors from petroleum to retail and telecom, RIL has done a total business of Rs 6.23 lakh crore in FY 2018-19. At the same time, IOC did an integrated business of Rs 6.17 lakh crore in the financial year ended 31st March 2019. Whereas, RIL is also the country’s largest profit-making company by making twice the profit from IOC.
The second-quarter results of Reliance Industries are due on Friday i.e. today. The company has achieved this new status due to the rise in share prices. Experts expect Reliance Industries’ earnings to be good in the September quarter due to improved refining margins. After Reliance Industries, Tata Consultancy Services (TCS) was the second company with a market cap of Rs 8 lakh crore. However, TCS shares were trading on a decline on Friday with a market cap of Rs 7.66 lakh crore.
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