#A3RT ``Trust & Trade``

Shares of #MukeshAmbani -backed #RelianceIndustries on February 13 became India's first company to surpass Rs 20 lakh crore in market capitalisation after its shares rallied over 14 percent so far in 2024.

The stock hit a fresh record high of Rs 2,957 on the BSE and gained as much as 1.8 percent intraday on February 13. At 11.16am, the stock was trading at Rs 2,953, up 1.7 percent from its previous close.

The conglomerate reached Rs 1 lakh crore in market cap in August 2005, Rs 2 lakh crore in April 2007, Rs 3 lakh crore in September 2007, and Rs 4 lakh crore in October 2007. And, since then, it took 12 years to reach Rs 5 lakh crore in July 2017, while the market value reached Rs 10 lakh crore in November 2019, and Rs 15 lakh crore in September 2021. The Rs 20-lakh-crore milestone was achieved in over 600 days.

The stock surged 10.4 percent in January and continued to climb nearly 4 percent in February. These recent gains are consistent with the overall market rally and positive reports on the company from multiple brokerages.

Analysts acknowledge the theoretical benefits of higher oil prices for RIL's oil-to-chemicals (O2C) businesses but express concerns about potential disruptions, including increased logistics costs and shipping times. The overall impact is uncertain. Despite rising oil prices, oil marketing stocks haven't declined as expected. Potential listings for retail or telecom are anticipated, but no recent developments have been reported.

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