Reliance shares hit a new high of Rs 2905 and became the 44th most valuable company in the world.

Mumbai: Shares of Reliance Industries Ltd hit a new all-time high of Rs 2,905 intra-day, hitting a three-year record price jump as funds, institutional investors, retail investors bought heavily today. Rs 2905 created a new historical high and finally closed at Rs 2896.15 with the market capitalization of the company increasing by Rs 185.80 i.e. investors’ wealth increased from Rs 18,33,852 crore to Rs 1,25,714 crore in a day. Reached a high of Rs 19,59,566 crore. With this, the combined market capitalization of Mukesh Amb.’s Reliance group comp.es has crossed the figure of Rs 21.64 lakh crore.

On expectations that the Budget to be presented next Thursday will be a win-win for all sections and there will be no new tax burden, BSE Sensex jumped 1,240.90 points to 71,941 after hitting an intra-day high of 72,000 on fresh buying by local funds, operators. Closed. And foreign investors…57 remained strong. While NSE’s Nifty reached 21,763 points intra-day and closed at 21,737.60 after a jump of 385 points. After the rise in Sensex today, investors’ wealth (BSE market cap) increased by Rs. Increase to Rs 6.08 lakh crore. Reached Rs 377.20 lakh crore.

Reliance Industries has become the 44th largest company in the world in terms of market capitalization. Today’s sharp rise in the shares of Reliance Industries is the biggest rise since September 2020. The stock has gained over 44 per cent since its 52-week low of Rs 2012.14 hit on March 20, 2023. In dollar terms, today the market capitalization of Reliance has reached $ 236.28 billion. With this, the company has moved from 47th to 44th position globally, leaving behind Accenture ($232.65 billion), PepsiCo ($230.78 billion) and Roche ($230.51 billion).

Among the world’s top comp.es in terms of market capitalization, America’s Microsoft is at first place with more than three lakh million dollars, followed by Saudi Aramco at second place with $2.03 million, Alphabet (Google) is at third place. $1.91 million, Amazon at $1.64 million. At the fourth position with $1.5 trillion, Nvidia is at the fifth position with $1.5 trillion and Meta Platform is at the sixth position with $1.01 trillion.

It is believed that the shares of Reliance have surged today due to aggressive buying of funds after the company separated its financial services business into Jio Financial Services and now speculations of preparation of separation of Reliance Retail Business, Jio Telecom. And Reliance New Energy Business.