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RIL crosses Rs 5 lakh cr market-cap for first time in its trading history

Aprajita Sharma/New Delhi 17 Jul 17 | 04:04 PM
 Reliance Industries Ltd
tradenow

BSE   16 Aug 17 | 04:01 PM

1566.95  -6.2 (-0.39%)

NSE   16 Aug 17 | 03:59 PM

1566.10  -6.95 (-0.44%)

Reliance Industries, the most valuable firm on the bourses, added another feather in its cap by crossing the Rs 5 lakh crore market-capitalisation for the first time in its trading history.

It has become the second only firm to do so after Tata Consultancy Service (TCS), which is now the second most valuable company in terms of market-capitalisation.   

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RIL settled the day 1% higher at Rs 1,551 with a market-cap of 5,04,458 crore on the BSE.   

In intraday trade, the stock gained as much as 1.8% to hit its fresh 52-week high of Rs 1558.80 on the BSE. It has surged nearly 11% so far in July and over 41% year-to-date.  

Also Read: Sensex rallies 1000 points in 11 days; Reliance, ITC surge most

Meanwhile, with market-cap of Rs 4,58,605 crore, TCS ended flat at Rs 2,395 in the noon trade.

The oil-to-telecom conglomerate is slated to announce its earnings for the April-June quarter (Q1) on Thursday and hold its AGM the day after. Analysts expect the focus, both in terms of the June quarter numbers and the AGM, would be on the company’s telecom business Reliance Jio. CLICK HERE FOR THE FULL REPORT

Brokerage Motilal Oswal Securities believes RIL may report a decline in its gross refining margin (GRM) in the June quarter. 

"RIL is expected to report a decline in its GRM in the quarter, led by narrowing light-heavy differential and inventory loss of USD1/bbl. While we expect subdued profitability in the refining segment, petchem profitability is likely to increase YoY/QoQ, led by improved deltas and increase in petchem volumes," said Motilal Oswal Securities in a June quarter preview report.

GRM is the difference between raw crude price and total value of petroleum products produced by the refinery. 

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