Anil Ambani-led business conglomerate Reliance Group has crossed the Rs 1 lakh-crore valuation mark as share prices of all its companies have shot up in the stock market boom.
This represents a sharp turnaround over the previous year, when the Group's market capitalisation touched a low of Rs 50,000 crore as widespread bearish sentiment gripped the stock market.
According to BSE figures, the combined market capitalisation of the four listed companies from the Group stands at Rs 1,01,832 crore following a rise by over one-fourth in just about two months.
Among the four listed firms, telecom venture Reliance Communications tops the chart with a market cap of Rs 34,377 crore followed by Reliance Power at Rs 30,548 crore, according to BSE data.
Besides, Reliance Infrastructure now commands a market cap of Rs 20,797 crore and financial services arm of the Group Reliance Capital is now valued at Rs 16,110 crore.
The share price of Group companies of Reliance have also gained amid a positive outlook for the sectors in which they operate such as telecom.
Besides, Reliance Communications last week raised Rs 4,800 crore through a placement of shares with qualified investors.
Reliance Infrastructure's Mumbai Metro started operations last month and Reliance Power's Sasan UMPP has started generation of power from its fourth unit.
Markets have been on a upswing in recent months buoyed by a positive outlook and hopes of strengthening fundamentals of the economy with a stable government headed by Narendra Modi.
The cumulative market capitalisation of all listed companies on the BSE has crossed Rs 92 lakh crore.
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