Mumbai, The Mukesh Ambani-led Reliance Industries Ltd (RIL) today become the first Indian company to cross Rs 8.04 trillion market capitalization after its shares surged nearly 37% this year.
RIL share prices rose 1.86 pc to close a record high of Rs 1,269.70 today, pegging its market cap at Rs 8,04,691.40 crore(8.04 trillion) after data from the Telecom Regulatory Authority of India (Trai) showed Reliance Jio continued to add subscribers at a healthy pace. BSE Sensex closed at 38,336.76 points, up by 51.01 points.
Investors continued to buy RIL shares on expectation of additional revenue from Reliance JioGigaFiber, the telecom firm’s broadband service, and Jio Phone 2. A higher subscription base and attractive tariff plans are also seen as bolstering margins.