Reliance Industries shares surged over 2%, reaching a new 52-week high and pushing its market valuation above Rs 21.5 lakh crore. The company's strong performance comes on the back of robust AGR growth.
New Delhi, Jul 5 (PTI) Shares of market heavyweight Reliance Industries climbed over 2 per cent on Friday, taking its market valuation above the Rs 21.5 lakh crore mark.
The bellwether stock rose by 2.63 per cent to close at Rs 3,189.90 apiece on the NSE. During the day, it jumped 2.86 per cent to hit a record high of Rs 3,197.
On the BSE, the stock climbed 2.32 per cent to settle at Rs 3,180.05 per share.
The company's market valuation jumped Rs 55,286.61 crore to Rs 21,58,227.12 crore on the National Stock Exchange (NSE).
The combined mcap of Reliance Industries and Jio Financial Services stood at Rs 23,82,498.05 crore on the NSE.
In volume terms, 61.35 lakh equity shares were traded on the NSE, while 7.59 lakh exchanged hands on the BSE during the day.
At the market close, NSE Nifty went up 21.70 points or 0.09 per cent to close at its lifetime high of 24,323.85, while the 30-share BSE Sensex dropped 53.07 points to settle at 79,996.60.
On Thursday, telecom sector regulator Trai said Reliance Jio posted the highest adjusted gross revenue, on the basis of which the government calculates spectrum and licence fees, at Rs 25,330.97 crore.
Reliance Jio's adjusted gross revenue (AGR) grew by 10.21 per cent during the latest January-March quarter from Rs 22,985 crore a year ago.
Reliance Industries Ltd (RIL), on February 13 this year, became the first Indian company to achieve a market capitalisation of Rs 20 lakh crore.
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