Reliance Industries Shares Surge 6%, Market Cap Hits Record High
Jun 03, 2024 19:19
Reliance Industries shares skyrocketed nearly 6% on Monday, reaching a record high and boosting the company's market capitalization by Rs 1 lakh crore. The stock's surge comes amidst exit poll predictions of a BJP-led NDA victory in the Lok Sabha elections.
Photograph: ANI Photo
New Delhi, Jun 3 (PTI) Shares of Reliance Industries Ltd on Monday jumped nearly 6 per cent to hit a record high level helping the equity markets register sharp gains.
The bellwether stock climbed 5.65 per cent to settle at Rs 3,021.25 apiece on the BSE. During the day, it soared 5.95 per cent to hit an all-time high of Rs 3,029.90.
On the NSE, it rallied 5.58 per cent to Rs 3,020.65 per share. In intra-day, the stock zoomed 5.87 per cent to hit a record peak of Rs 3,029.
The company's market valuation climbed Rs 1,09,248.31 crore to Rs 20,44,084.84 crore. It is the most valued company in the country in terms of market valuation.
The 30-share BSE Sensex jumped 2,507.47 points or 3.39 per cent to settle at 76,468.78. During the day, it surged 2,777.58 points or 3.75 per cent to hit a lifetime high of 76,738.89.
Exit polls on Saturday predicted that Prime Minister Narendra Modi-led government will retain power for a third straight term, with the BJP-led NDA expected to win a big majority in the Lok Sabha polls.
The counting of votes will take place on June 4.
So far this year, the Reliance stock has jumped 16.88 per cent.
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