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RIL shares jump nearly 3%; m-cap up Rs 34,195 crore to Rs 11.9 lakh crore

The company's market valuation surged Rs 34,195.13 crore to Rs 11,90,857.13 crore on the BSE

twitter-logoBusinessToday.In | July 10, 2020 | Updated 22:07 IST
RIL shares jump nearly 3%; m-cap up Rs 34,195 crore to Rs 11.9 lakh crore
RIL Chairman Mukesh Ambani

Shares of Reliance Industries Limited (RIL) on Friday jumped nearly 3 per cent adding Rs 34,195.13 crore to its market capitalisation. The stock gained 2.95 per cent to close at Rs 1,878.50 on the BSE. During the intraday trade, it surged 3.27 per cent to Rs 1,884.40 - its record high. On the NSE, it zoomed 2.94 per cent to close at Rs 1,878.05.

The company's market valuation surged Rs 34,195.13 crore to Rs 11,90,857.13 crore on the BSE. In traded volume terms, 1.14 lakh shares were traded on the BSE and over 20 lakh units on the NSE during the day.

Meanwhile, Chairman of RIL Mukesh Ambani has surpassed Warren Buffet in terms of net worth. Ambani is now worth $68.3 billion, surpassing Warren Buffett's $67.9 billion, according to the Bloomberg Billionaires Index.

With shares of RIL doubling since hitting low in March owing to a series of investments in the digital unit Jio, Ambani's wealth saw a significant surge amid the coronavirus crisis. He is currently the only Asian tycoon in the exclusive club of the world's top 10 richest people last month, according to the index. Ambani, 63, is now the eighth richest person in the world, and Buffett is ninth.

RIL posted consolidated net sales of Rs 1,36,240 crore for the quarter ended 31 March 2020, down 11.06 per cent from previous quarter's Rs 1,53,179.0 crore.

(With PTI inputs)

Also read: COVID-19 fallout: Home sales plummet 67% in April-June across Mumbai, Bengaluru, other major cities

Also read: Airborne transmission of COVID-19 a possibility, needs urgent research: WHO

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