&w=3840&q=100)
Reliance Industries market cap surpasses ₹20 trillion-mark once again
Reliance Industries (RIL) shares climbed 2 per cent in trade on Thursday, logging an intraday high at ₹1,496.8 per share on BSE. The company's market capitalisation surpassed the ₹20 trillion level once again after September 27, 2024.
At 2:09 PM, the company's market capitalisation stood at ₹20,25,540.5 crore. RIL share price was trading 2.01 per cent higher at ₹1,496.8 per share on the BSE. In comparison, the BSE Sensex was up 1.03 per cent at 83,608.71. Its 52-week high was at ₹1,608.95 per share and 52-week low was at ₹1,115.55 per share. In one year, RIL shares have lost 4 per cent as compared to Sensex's rise of 5 per cent.
Why are RIL shares in demand?
Reliance Industries chairman Mukesh Ambani, on Wednesday, said that the company is entering a new phase of growth powered by artificial intelligence and deep technology, calling it the group's next major leap after telecom and energy, according to reports.
Ambani also revealed that the company has already built its 5G infrastructure completely in-house.
On artificial intelligence, Ambani made it clear that Reliance will stay away from high-risk capital-heavy areas like GPUs, instead focus on downstream applications that align with national needs.
In another development, RISE Worldwide, a subsidiary of RIL and BLAST Esports arm of BLAST ApS took their first step as a joint venture to conduct an esports business. The company informed through its exchange filing on Wednesday, after market hours.
In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent.
Jio BLAST has ceased to be a subsidiary of RIL and is now a joint venture company.
RISE incorporated Jio BLAST eSports Private Limited (Jio BLAST) as its wholly owned subsidiary on April 18, 2025.
"As a first step, RISE incorporated Jio BLAST eSports Private Limited ('Jio BLAST') as its wholly owned subsidiary on April 18, 2025. In accordance with the joint venture agreement, Jio BLAST has today allotted to BLAST Esports Limited 50,00,000 equity shares of face value of ₹10 each, at par, aggregating ₹5 crore. Consequent to the said allotment, the stake of RISE in Jio BLAST has reduced to 50 per cent. Jio BLAST has ceased to be a subsidiary of the Company and is now a joint venture company," the filing read.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
27 minutes ago
- Economic Times
Credila Financial Services files for $584 million IPO
(What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
The Print
41 minutes ago
- The Print
Markets rally for 3rd day on easing geopolitical tensions; Sensex surges 1,000 points
As many as 2,097 stocks advanced while 1,900 declined and 156 remained unchanged on the BSE. Stable crude oil prices in international markets and a strengthening trend in the rupee following a weak US dollar against major currencies also bolstered sentiment, traders said. The 30-share BSE Sensex jumped 1,000.36 points or 1.21 per cent to settle at 83,755.87. During the day, it surged 1,056.58 points or 1.27 per cent to 83,812.09. Mumbai, Jun 26 (PTI) Rallying for the third consecutive session, equity benchmark indices Sensex and Nifty surged over 1 per cent on Thursday, powered by intense buying in market heavyweights HDFC Bank, Reliance Industries and ICICI Bank as geopolitical tension in the Middle East eased off. The 50-share NSE Nifty rallied 304.25 points or 1.21 per cent to 25,549. 'The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions. 'FIIs continued to pare holdings due to the narrowing yield spread between US and Indian 10-year bonds; DIIs emerged as net buyers, buoyed by improving liquidity conditions and a rebound in domestic consumption,' Vinod Nair, Head of Research, Geojit Investments Limited, said. From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, Bajaj Finserv, NTPC, HDFC Bank, Reliance Industries and Axis Bank were among the major gainers. Shares of Reliance Industries climbed nearly 2 per cent on Thursday, with its market valuation again breaching the coveted Rs 20 lakh crore mark. In contrast, Trent, State Bank of India, Tech Mahindra, Maruti and Mahindra & Mahindra were among the laggards. The BSE midcap gauge climbed 0.56 per cent, and smallcap index went up by 0.12 per cent. Among BSE sectoral indices, metal jumped 2.28 per cent, oil & gas (1.88 per cent), energy (1.68 per cent), commodities (1.39 per cent), financial services (1.25 per cent), utilities (1.24 per cent) and power (1.13 per cent). On the other hand, IT, realty and BSE-focused IT were the laggards. 'Markets witnessed a decisive session on the monthly expiry day, gaining over a per cent. The tone was positive from the start, supported by stable global cues, followed by a range-bound move in the first half. 'However, momentum picked up as the session progressed, driven by strong buying in select heavyweights across sectors. Most sectors participated in the rally, with metals, financials, and energy emerging as top gainers. The broader indices also moved higher, adding nearly half a per cent each,' Ajit Mishra – SVP, Research, Religare Broking Ltd, said. In Asian markets, Japan's Nikkei 225 index settled higher, while South Korea's Kospi, Shanghai's SSE Composite index and Hong Kong's Hang Seng ended lower. European markets were trading in the green in mid-session deals. US markets ended on a mixed note on Wednesday. The rupee rose 41 paise to 85.67 (provisional) against the US dollar on Thursday on the back of a sharp drop in the greenback and a strong show in the domestic equity markets amid a rise in risk appetite. Global oil benchmark Brent crude climbed 0.18 per cent to USD 67.80 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,427.74 crore on Wednesday, while Domestic Institutional Investors (DII) bought stocks worth Rs 2,372.96 crore, according to exchange data. On Wednesday, the Sensex jumped 700.40 points, or 0.85 per cent, to settle at 82,755.51. The Nifty climbed 200.40 points, or 0.80 per cent, to 25,244.75. PTI SUM SUM BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Print
42 minutes ago
- The Print
Three days of sharp market rally makes investors richer by Rs 9.70 lakh cr
In three days, the benchmark has surged 1,859.08 points or 2.27 per cent. On Thursday, the 30-share BSE Sensex jumped 1,000.36 points or 1.21 per cent to settle at 83,755.87. During the day, it surged 1,056.58 points or 1.27 per cent to 83,812.09. New Delhi, Jun 26 (PTI) Investors' wealth jumped by Rs 9.70 lakh crore in three days of market rally amid growing optimism following easing geopolitical tensions. The market capitalisation of BSE-listed firms jumped by Rs 9,70,200.71 crore to Rs 4,57,52,700.57 crore (USD 5.34 trillion) in three days. 'Indian equity markets extended their gains on Thursday supported by strength in metal stocks and easing geopolitical concerns. With geopolitical tensions easing, macroeconomic indicators stabilizing, the broader market appears to be regaining confidence,' Gaurav Garg, Analyst, Lemonn Markets Desk, said. From the Sensex constituents, Tata Steel, Bajaj Finance, Bharti Airtel, Adani Ports, Eternal, HDFC Bank, Bajaj Finserv, NTPC, Reliance Industries and Axis Bank were among the major gainers. In contrast, Trent, State Bank of India, Tech Mahindra and Maruti were among the laggards. As many as 2,097 stocks advanced while 1,900 declined and 156 remained unchanged on the BSE. 'The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions. 'FIIs continued to pare holdings due to the narrowing yield spread between US and Indian 10-year bonds; DIIs emerged as net buyers, buoyed by improving liquidity conditions and a rebound in domestic consumption,' Vinod Nair, Head of Research, Geojit Investments Limited, said. The BSE midcap gauge climbed 0.56 per cent, and smallcap index went up by 0.12 per cent. Among BSE sectoral indices, metal jumped 2.28 per cent, oil & gas (1.88 per cent), energy (1.68 per cent), commodities (1.39 per cent), financial services (1.25 per cent), utilities (1.24 per cent) and power (1.13 per cent). On the other hand, IT, realty and BSE-focused IT were the laggards. PTI SUM HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
