The country’s veteran company Reliance Industries (RIL) created a new history on Friday. RIL is the first company in the country to have a market cap of Rs 9 lakh crore. Earlier, Reliance Industries had a market cap of Rs 8 lakh crore in August. During the trading on the stock market on Friday, when Reliance shares were trading up by two per cent to Rs 1,428, its market cap reached Rs 9.03 lakh crore.
The second-quarter results of Reliance Industries are due on Friday i.e. today. The company has achieved this new status due to the rise in share prices. Experts expect Reliance Industries’ earnings to be good in the September quarter due to improved refining margins.
Tata Consultancy Services is the second company to have 8 Lakh crore market cap
Tata Consultancy Services (TCS) was the second company to have a market cap of Rs 8 lakh crore after Reliance Industries. However, TCS shares were trading on a decline on Friday and had a market cap of Rs 7.66 lakh crore.
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According to Bank of America Merrill Lynch, Reliance Industries could become the first Indian company with a market cap of $ 200 billion in the next two years.
According to a Bank of America Merrill Lynch report, several factors will help Reliance reach a market cap of up to $ 200 billion. These include placing a mobile point of sale (M-PoS) in unorganized grocery stores to hold retail business. Along with this, it is also important for the company to enter the SME sector with Microsoft. Also, Jio Fiber Broadband will also play an important role in reaching a market cap of up to $ 200 billion.
Mukesh Ambani’s telecom business will grow well as per Merrill Lynch
The Bank of America Merrill Lynch report said that Mukesh Ambani’s telecom business will grow well. Its earnings per mobile phone user will increase to Rs 177 from the current Rs 151 by FY 2022. At the same time, 1 crore grocery shops will pay Rs 750 to the company every month to install M-PoS. In 2 years, the number of broadband users of the company can be 1.20 crore, out of which 60 per cent will get an average of Rs 840 per month.
 created a new history on Friday. Reliance Industries market cap reached to 9 Lakh crore and become no 1 company in India){kind=link}