INSUBCONTINENT EXCLUSIVE:
Oil-to-telecom major Reliance Industries on Friday became the first Indian company to hit ?9 lakh crore in market capitalisation
The company achieved this milestone ahead of its September quarter result, which was set to be announced after trading hours.
The stock
ended up 1.4 per cent at ?1415.30 after touching a record high of ?1428
So far this year, shares of Reliance Industries have surged over 25 per cent compared with a gain of 7 per cent in the benchmark Nifty
index.
RIL was also the first company to reach the ?8 lakh crore mark in August last year, and the $100 billion-mark in market
capitalisation in 2007, a feat which was repeated last July.
RIL can become the first Indian company to achieve a market capitalisation of
$200 billion in the next 24 months, said Bank of America Merrill Lynch in a note on Wednesday.
This milestone is likely to come on the back
diminishing headwinds and rising tailwinds shall drive this growth Investor concerns on debt levels seem overdone, as RIL likely to generate
The brokerage expects the stock to double in four years to ?2,790.
