Sensex, Nifty retain uptrend; RIL’s market cap over Rs 5 lakh cr

Reliance Industries continued its northward journey for 11th consecutive session on Monday and has consistently been hitting fresh nine-year high, which helped it to become the most valued company among listed entities.

Today the stock rallied as much as 1.76 percent intraday to hit a high of Rs 1,558, the highest level since January 17, 2008.

In these 11 consecutive sessions, it gained nearly 13 percent, partly due to positive market condition and company’s new tariff plans.
This rally helped the stock to cross Rs 5 lakh crore in market capitalisation at Rs 5,05,695.79, which is far ahead of TCS (Rs 4.73 lakh crore) and HDFC Bank (Rs 4.3 lakh crore).

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Posted in: Indian Market Tips