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A strong rise was recorded in the stock market on Monday. A rally was seen in the market on the basis of banking and heavyweight stocks. Especially in terms of market cap, there was a huge rise in the shares of Reliance Industries (RIL), the country’s number one company. With this rise, the market cap of Reliance Industries has crossed Rs 19.50 lakh crore.
At the end of trading, RIL shares closed at Rs 2,890.10, up 6.80 per cent. It also touched a record high of Rs 2,905 in intraday. The 52week low of the stock is Rs 2,180. In the last one month, shares of Reliance Industries have risen by about 11.58 percent. With today’s rise, the market cap of RIL increased by Rs 1.20 lakh crore (Rs 1020000000000), which means that in one day the market cap of this Mukesh Ambani company has increased by Rs 1.20 lakh crore. As much as the market cap of Reliance has increased today, the total market cap of Tata company Tata Power has increased by the same amount.
Strong rise in RIL’s market cap
Let us tell you, in this spectacular rise in the market, the market cap of companies listed on BSE increased by about Rs 6.06 lakh crore, that is, the capital of investors has increased by about Rs 6.06 lakh crore in a single day. Out of this, the market cap of RIL alone has increased by Rs 1.20 lakh crore, which is 20 percent share.
Actually, according to the news, this rise in the shares of Reliance has come after a report by Bloomberg. According to this report, in the ongoing talks with Reliance for the purchase of Walt Disney’s India unit, the combined entity aims to achieve a valuation of $ 11 billion, in which Disney has a 40 percent stake. Bloomberg reported that Reliance Industries will hold 51 percent stake in the entity and the deal may be finalized in February.
Pre-budget rally in index also
On Monday, both Sensex and Nifty 50 indices closed with a rise of more than one and a half percent. At the end of trading, Sensex closed at 71,941.57 points, registering a strong rise of 1280 points, and Nifty closed at 21,737.60, up 385.00 points. There are 30 shares listed on Sensex, out of which only 5 closed in the red zone. Whereas the maximum growth was in Reliance, Tata Motors and Power Grid. On the other hand, decline was recorded in ITC, Infosys and JSW Steel.
Apart from Reliance, ONGC was up by 8.89 per cent, HDFC Bank was up by 1.53 per cent, Adani Enterprises was up by 5.79 per cent and Adani Green was up by 2.87 per cent. Apart from this, there was an upper circuit of 20 percent in the shares of Shakti Pump in small cap.
(Note: Before investing in the stock market, definitely take the help of a financial advisor)
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