2024-01-12 02:14:00
Reliance Industries’ Market Capitalization Hits New High
Mumbai: Reliance Industries, one of India’s largest conglomerates, has reached a new milestone as its market capitalization has surpassed Rs 18 lakh crore. This achievement comes as the company’s share price rose by 2.58 percent, trading at Rs 2,719 at the end of yesterday’s trading session. Over the past year, Reliance Industries’ value has seen a 12 percent increase.
The surge in the company’s market capitalization follows the announcement made by Chairman Mukesh Ambani, regarding the commencement of the Dhirubai Ambani Green Energy Infrastructure Project in Jamnagar, Gujarat. This ambitious project covering 5,000 acres has garnered significant attention, propelling Reliance Industries’ shares to reach a new high.
International investment houses such as Goldman Sachs and Jefferies have provided optimistic forecasts for the company’s stock value. Goldman Sachs anticipates that Reliance Industries’ stock will rise to Rs 2,885, while Jefferies projects a further increase to Rs 3,125.
In addition to Reliance Industries’ success, the broader market also saw positive movements. The Sensex, a key stock market index that tracks the performance of 30 major stocks, rose by 63.47 points to reach 71,721. Similarly, the Nifty, which represents 50 of India’s top companies, increased by 28.5 points, reaching 21,647 in yesterday’s trade.
Reliance Industries’ remarkable growth and ambitious renewable energy project have positioned the company for further success in the future. With the support of international investment firms and a positive market outlook, the company’s market capitalization may continue to reach new heights, solidifying its position as a key player in the Indian business landscape.
#Reliance #Industries #market #crossed #Rs.18 #lakh #crore