RIL stock nears Rs 2,000 mark, up 127% in less than 4 months from Rs 867

Share price of Reliance Industries Limited (RIL) on Monday jumped over 3% to hit a new 52-week and an all-time high of Rs 1,947 today. RIL shares are trading near Rs 2,000 mark, after rising 127% against its 52-week low of Rs 867.82 hit on March 23, 2020.

The oil-to-telecom conglomerate also became the first Indian company to cross the Rs 12 lakh crore market valuation mark, after Mukesh Ambani's company said it has secured Rs 730 crore from wireless technology leader Qualcomm for a 0.15% stake in Jio Platforms.

At Monday's opening bell, RIL stock price traded at Rs 1,908.50 apiece. The stock later touched record high of Rs 1,947, rising 3.65% against the last closing price of Rs 1,878.50 on BSE. RIL stock price also hit an intraday low at Rs 1,900 today. RIL stock has risen 7.51% in last 3 days.

RIL's market cap has risen to Rs 12 lakh crore from Rs 11 lakh crore (hit on June 18, 2020) in less than a month. The market cap of the firm rose to Rs 12.25 lakh crore on BSE in early trade, after adding Rs 35,088 crore in today' session. On Friday, the company's market valuation surged Rs 34,195 crore to Rs 11. 90 lakh crore on the BSE.

In today's trade, the company's upper price band stood at Rs 2,066.35, up 10%, while its lower price band is situated at Rs 1,690.65, down 10%.

RIL stock price has gained 4.84% in one week and 22.17% in one month. It has gained 28.19% since the beginning of this year and risen 51.57% during the last one year. RIL shares trade higher than its 5, 20, 50, 100 and 200-day moving averages.

Qualcomm Ventures' investment is the 13th such entity in the span of the last three months to invest in the digital services subsidiary of RIL. Such consecutive investments pulled in by Jio platforms has also helped Reliance Industries become net-debt zero announced by Chairman Mukesh Ambani, eight months before the March 2021 deadline.

RIL market cap crosses Rs 12 lakh crore as Qualcomm to invest Rs 730 cr in Jio Platforms

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