Reliance shares hit a new high of Rs 2905 to become the 44th most valuable company in the world

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- The company's market cap increased by Rs 1.25 lakh crore, the biggest jump in three years

- Sensex rises 1240, Nifty 385 points on Reliance amid speculation of demerger of Retail, Jio, New NG business

- Reliance Group's market cap is Rs.21.64 lakh crore

Mumbai: Shares of Reliance Industries Ltd touched a new all-time high of Rs 2,905 intra-day with a three-year record price surge as funds, institutional investors, retail investors bought the buzz today. Rs.2905 made a new historical high and finally rose by Rs.185.80 to close at Rs.2896.15 with the company's market capitalization i.e. investors' wealth increased from Rs.18,33,852 crore to Rs.1,25,714 crore in one day. It reached the height of Rs.19,59,566 crore. With this, the combined market capitalization of Mukesh Ambani's Reliance Group companies has crossed the mark of Rs.21.64 lakh crore.

Expecting the Budget to be presented next Thursday to be pleasing to all sections and without any new tax burden, the BSE Sensex jumped 1,240.90 points to close at 71,941 after the intra-day high of 72,000 on the back of fresh buying by local funds, operators and foreign investors. .57 remained strong. While NSE's Nifty touched 21,763 intra-day and closed at 21,737.60 after a jump of 385 points. Following the surge in the Sensex today, investors' assets (BSE market cap) rose by Rs. 6.08 lakh crore increased to Rs. 377.20 lakh crore was reached.

Reliance Industries has become the 44th largest company in the world by market capitalization. Today's sharp jump in Reliance Industries shares is the biggest since September 2020. The stock has rallied over 44 percent since its 52-week low of Rs.2012.14 on March 20, 2023. In terms of dollars, the market capitalization of Reliance has reached 236.28 billion dollars today. With this, the company has reached the 47th to 44th position globally, leaving behind Accenture ($232.65 billion), PepsiCo ($230.78 billion) and Roche ($230.51 billion).

Among the top companies in the world in terms of market capitalization, America's Microsoft is on the first place with more than three hundred thousand million dollars, followed by Saudi Aramco on the second place with $2.03 million, Alphabet (Google) on the third place with $1.91 million, Amazon on $1.64 million. At the fourth position with $1.5 trillion, Nvidia is at the fifth position with $1.5 trillion and Meta Platforms is at the sixth position with $1.01 trillion.

Reliance shares today are believed to have surged due to the aggressive buying of funds after the demerger of its financial services business into Jio Financial Services by the company, and now due to the speculations of the preparation of the demerger of Reliance Retail Business, Jio Telecom and Reliance New NG Business.

Company Name

Market Capitalization

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( in Rs. Crores)

Reliance Industries

Rs , 19 , 59 , 566

Jio Financial

Rs.1 , 59 , 415

Alok Industries

Rs.15 , 918

Network 18 Media

Rs.12 , 236

TV18 Broadcast

Rs.10,994 _ _

Hathaway Cable-Data

Rs.4222

Reliance Infra.

Rs.2161

Total market cap.

Rs.21 , 64 , 512

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