Reliance Industries market cap slips below Rs 10 lakh crore as shares fall 2%

Share price of Reliance Industries (RIL) fell nearly 2 per cent in intraday trade on the Bombay Stock Exchange (BSE) on Friday as investors resorted to profit booking after recent rally. With the fall in share price, the market capitalisation of the Mukesh Ambani led-firm slipped below Rs 10 lakh crore to Rs 9.85 lakh crore. The stock was trading in line with benchmark indices, with the S&P BSE Sensex down 375 points or 0.91 per cent at 40,755.

Snapping two-day gaining streak, RIL share price declined as much as 1.93 per cent to touch an intraday low of Rs 1,549.45 apiece on the BSE. Earlier today, the large cap stock opened marginally higher at Rs 1,582 against the previous closing price of Rs 1,579.95. At the time of reporting, RIL stock was trading 1.64 per cent lower at Rs 1,554, which is 1.89 per cent lower than 52-week high of Rs 1,584 touched on November 28.  

On Thursday, Mukesh Ambani-led oil-to-retail major created a record by clocking Rs 10 lakh crore (trillion) market capitalisation after the stock hit its fresh 52-week high.

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TCS, the second highest company in terms of market cap, has a m-cap of nearly Rs 7.70 lakh crore on BSE. The IT firm's share price was trading 1 per cent lower at Rs 2,052 on the BSE.

In the last five years, the share price of RIL increased over 220 per cent from Rs 493.58 to its all-time high of Rs 1,581 apiece. Compared to this, Tata Consultancy Services (TCS), the second most valued company, saw a 57 per cent growth from Rs 1,324.58 to Rs 2,084.5.

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Edited by Chitranjan Kumar