Reliance Market Cap Hits Rs 21 Lakh Cr, Stock Soars

New Delhi, Nov 26 (PTI) Shares of Reliance Industries Ltd on Wednesday climbed 2 per cent, taking its market valuation to Rs 21 lakh crore.

The market heavyweight stock went up by 1.99 per cent to settle at Rs 1,569.75 on the BSE. During the day, the stock rallied 2.12 per cent to Rs 1,571.80 -- its 52-week high.

At the NSE, the firm's shares edged higher by 1.96 per cent to Rs 1,569.90. During the day, the stock reached its 52-week high of Rs 1,571.60.

The company's market valuation surged to Rs 21,24,259.89 crore at the close of trade on Wednesday.

This is the second day of gains for Reliance Industries. On Tuesday, the stock settled up 0.21 per cent on the BSE.

So far this year, the blue-chip stock has surged over 29 per cent.

The rally in the stock was also instrumental in driving equity markets higher.

The 30-share BSE Sensex jumped 1,022.50 points or 1.21 per cent to settle at 85,609.51. The 50-share NSE Nifty zoomed 320.50 points or 1.24 per cent to end at 26,205.30.

"FII (Foreign Institutional Investor) buying returned on Tuesday, reinforcing bullish sentiment, while heavyweights including HDFC Bank, ICICI Bank and Reliance Industries added stability to the rally," Gaurav Garg, Research Analyst at Lemonn Markets Desk, said.