RIL stock maximizes 5%, market valuation ranks top Rs 4 lakh crore

NEW DELHI: RIL shares saw brisk buying on Monday, ending at nearly 9-year high with 5 per cent gain, taking its market valuation beyond the Rs 4-lakh crore mark.

The stock ended the day at Rs 1,238.60, up 4.74 per cent on BSE, the highest closing in nearly 9-years. During the day, it soared 6.24 per cent to a multi-year high of Rs 1,256.50.

On NSE, it jumped 4.74 per cent to close at Rs 1,238.90.

The stock was the top gainer among the bluechips on both Sensex and Nifty.

Led by the surge in the stock price, the company's market valuation rose sharply by Rs 18,197.63 crore to Rs 4,01,784.63 crore.

On the volume front, 13.41 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

RIL is the second company after TCS to cross Rs 4 lakh crore market cap mark. TCS market valuation stands at Rs 4,90,419.81 crore.

Last Wednesday, the stock had zoomed 11 per cent after its telecom arm Jio said it will start charging for data services from April.

Mukesh Ambani's telecom unit Reliance Jio will begin charging for data from April, but will give steep discounts for a year to over 100 million customers who have come on board within six months of its launch.