Focus Merit

Reliance Industries becomes first Indian company to hit Rs. 12 lakh crore market cap

  • Mukesh Ambani led Reliance Industries Ltd (RIL) has become the first Indian firm to hit a market capitalisation mark of Rs. 12 lakh crore.
  • The shares price of the company surged to a record high of Rs. 1,947 on 13 July 2020, after which the Market cap of the firm rose to Rs 12.32 lakh crore.
  • The increase in Reliance Industries m-cap comes after it secured deal with Qualcomm Ventures to invest in Jio Platforms for a 0.15 percent equity stake.
  • This is the 13th deal secured by Jio Platforms in a span of 12 weeks, bringing the total funds raised by the company to Rs 1.18 lakh crore.