Description:- Reliance stocks appreciated by as much as Rs 56.6 or 2% to hit Rs 2,834.5 on BSE making it an Rs.19 trillion company.
Reliance industries limited’s stock appreciated by as high as 2% or 56.6 to hit 2,834.5 on BSE during Intraday trading hours making it an Rs. 19 trillion company or $ 250 billion mark in Market capitalization.
Reliance has seen an increase of nearly $20 billion in 2022 so far. Its stock has appreciated by 11 percent since 18th April 2022. Reliance Industries has a weightage of 11.9 percent in the 50-scrip benchmark Nifty index.
This strong surge in stock of RIL comes on the back of projected healthy march 2022 quarter earnings that are expected to be very strong due to a positive refining margin. Telecom and retail businesses could also boost quarterly numbers.
Founded on 8th May 1973 Reliance Industries Limited is an Indian multinational conglomerate company, headquartered in Mumbai.
It has diverse businesses including petrochemicals, natural gas, retail, telecommunications, mass media, and textiles. Reliance is the largest publicly traded company in India by market capitalization, and the largest company in India as measured by revenue. It is also the 10th largest employer in India with over 236,000 employees. RIL has a market capitalization of US$243 billion as of March 31, 2022. The company is ranked 155th on the Fortune Global 500 list of the world’s biggest corporations as of 2021.