Days after crossing USD 100 billion Market Capitalisation (m-cap) mark, Mukesh Ambani-owned Reliance Industries Ltd. today created another record by becoming first Indian company to cross USD 114 billion (Rs 8 lakh crore) mark. Shares of Oil-to-telecoms giant rose as much as 2.1 per cent to a record high of 1274 rupees, taking the company's market capitalisation to 8.07 trillion rupees. Its nearest competitor Tata Consultancy Services Ltd's stood at 7.80 trillion rupees. Earlier in the month of July, Reliance's shared surged past USD 100 billion mark, making it the second company after TCS to achieve this milestone.
TCS had achieved this milestone on April 23, 2018. Headquartered in Mumbai, TCS is a subsidiary of the Tata Group. In 2015, it was ranked 64th overall in the Forbes World's Most Innovative Companies ranking. Market Capitalisation is defined as the value of a company that is traded on the stock market. This value is calculated by multiplying the total number of the company’s shares by the present share price.
RIL was among the top gainers of the S&P BSE Sensex, which traded at 38,356.55, up 70.80 points or 0.18 per cent. The top 10 companies in India in terms of market capitalisation include RIL at the top slot, followed by TCS, HDFC Bank, HUL, ITC, HDFC, Infosys, SBI, Maruti Suzuki, and Kotak Mahindra Bank.
Meanwhile, India's National Stock Exchange (NSE) index has been touching record highs this month and TCS and Reliance Industries Limited have been the top contributors to the Nifty gains this year.