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RIL share hits all-time high, market cap crosses Rs 15 lakh crore

Share price of RIL gained 1.77% to Rs 2,360 against previous close of Rs 2,318 on BSE

twitter-logoBusinessToday.In | September 14, 2020 | Updated 11:38 IST
RIL share hits all-time high, market cap crosses Rs 15 lakh crore
RIL share price: This is the first session that market cap of RIL crossed Rs 15 lakh crore making it the most valuable company on Indian bourses.

Reliance Industries Limited (RIL) share hit all-time high of Rs 2,360 amid reports that US private equity firm Carlyle is likely to buy stake in Reliance Retail for up to $2 billion. Share price of RIL gained 1.77% to Rs 2,360 against previous close of Rs 2,318 on BSE. The large cap stock has gained 12.21% in last six days.

Market cap of the firm rose to Rs 15.80 lakh crore on BSE.  This is the first session that market cap of RIL crossed Rs 15 lakh crore making it the most valuable company on Indian bourses.

The large cap stock hit a fresh 52-week low of Rs 867 on March 23, 2020. Since then, the stock has gained 172.20% on BSE. Total 2.49 lakh shares changed hands on BSE amounting to turnover of Rs 58.39  crore.

RIL stock price has gained 12% in one week and 10.54% in one month. It has gained 54% since the beginning of this year and risen 90.69% during last one year. RIL stock trades higher than its 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

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Private equity firm Carlyle Group is looking to invest up to $2 billion in Reliance Industries' retail business, Mint reported. The deal, if finalised, would be Carlyle's biggest investment in an Indian company and would be its first in the country's retail sector, the report said.

The reports of likely deal with US PE firm come a week after RIL said tech investor Silver Lake Partners would invest Rs 7,500 crore ($1 billion) in Mukesh Ambani's Reliance Retail Ltd, a Reliance Industries Ltd subsidiary, for a 1.75 per cent equity stake on a fully diluted basis.  This was the second investment by Silver Lake in an RIL subsidiary after the infusion of Rs 10,200 crore in Jio Platforms Ltd earlier this year.

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