RIL Most Valuable Indian Firm, Market Capitalisation Hits Rs 9 Lakh Crore

INSUBCONTINENT EXCLUSIVE:
At 11:12 am, Reliance Industries' market value stood at Rs 9,00,158.87 crore on the BSEBillionaire Mukesh Ambani-led Reliance Industries
became the country's most valuable company after its market capitalisation or market value topped Rs 9 lakh crore for the first time on
Friday
RIL shares rose more than 2 per cent to touch a record high of Rs 1,428 ahead of the earnings announcement by the oil-to-telecom
conglomerate
On the National Stock Exchange (NSE), Reliance Industries shares climbed 2.25 per cent to Rs 1,427.90 at the day's highest level
third spot (Rs 7 lakh crore), according to data from the stock exchanges.Reliance Industries is due to release its financial results for the
quarter ended September 30 later in the day.For the quarter ended June 30, the group had reported a 6.8 per cent rise in net profit to Rs
10,104 crore - surpassing street estimates - over a 21.25 per cent increase in revenue from operations to Rs
Jio said this month that it would charge its customers 6 paise per minute for calls made to other networks till the telecom sector regulator
TRAI moves to a zero termination-charge regime.For the April-June period, Reliance Jio's net profit rose 45.58 per cent to Rs
891 crore
It gross added 33.8 million subscribers in the quarter, which translated into a growth of 44 per cent and 49 per cent in revenue and EBITDA
(earnings before interest, taxes, depreciation, and amortization) respectively, according to the company.At 11:12 am, Reliance Industries
shares traded 1.71 per cent higher at Rs 1,420.00 apiece on the BSE, outperforming the benchmark Sensex index which was up 0.39 per cent
Mr Ambani's Reliance Industries has surged 25 per cent, compared with a gain of 7 per cent in the benchmark Nifty 50 index.Follow
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