RIL’s Shares Add Rs 1 Trillion Market Cap In 6 Weeks

As analysts started upgrading the stock on hopes of revenue generation from RIL’s telecom venture, Reliance Jio Infocomm Ltd., which has started charging its users, stocks of Reliance Industries Ltd., in the last six weeks have added Rs 1 trillion market capitalisation.

The current market capitalisation firmly stands at Rs 4.44 trillion from Rs 3.41 trillion on February 15. Its stock was trading near fresh nine-year high at Rs 1,380 a share, and gained as much as 4% in intraday trade. Since February 15, the scrip gained nearly 34%, while it has jumped 26.33% so far this year.

Reliance Jio announced that over 72 million Jio customers have signed up for Jio Prime membership till March 31, on Friday. The company till April 15 also extended its Jio Prime service. Reliance Industries Ltd is currently trading at Rs 1368, up by Rs 48.8 or 3.7% from its previous closing of Rs 1319.2 on the BSE.

The scrip opened at Rs 1332 and has touched a high and low of Rs 1380 and Rs 1332 respectively. So far 7953656(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 428908.61 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 1336 on 31-Mar-2017 and a 52 week low of Rs 925.7 on 23-May-2016. Last one week high and low of the scrip stood at Rs 1336 and Rs 1234.1 respectively. The promoters holding in the company stood at 45.11 % while Institutions and Non-Institutions held 33.48 % and 18.46 % respectively. The stock is currently trading above its 50 DMA.

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