The Capital News
In a historic achievement, Reliance Industries Limited (RIL) has become the first Indian company to surpass a market capitalisation of Rs 21.12 lakh crore. On Friday, June 28, the shares of RIL, a diversified conglomerate with interests in oil, telecom, and retail sectors, soared by 2.78 per cent, reaching a fresh all-time high of ₹3,162 during trading on the National Stock Exchange (NSE). This remarkable surge propelled RIL’s market cap beyond the Rs 21 lakh crore mark for the first time. The stock’s impressive performance was driven by the announcement from Reliance Jio Infocomm Ltd, a subsidiary of RIL, about new unlimited data plans set to roll out from July 3. These revised tariffs, ranging from Rs 189 for a 2 GB/month plan to Rs 3,599 for an annual plan with 2.5 GB/day, include unlimited 5G data for plans offering 2 GB/day and above. Market analysts highlighted that the tariff adjustments were in line with expectations. However, Jio’s initiative in leading the tariff hike and its strategic focus on enhancing returns on investments were perceived positively by brokerage firms.
