Reliance Industries, the largest weighted stock in the BSE Sensex, has hit a fresh all-time high. The stock rose 2.43 percent to 2489.65 on the BSE today.
It has been a leader of the post-pandemic rally if one looks at its returns versus the Nifty. Reliance had gone up 168 percent between March 2020 and September 2020, while Nifty was up just over 52 percent.
However post September 2020, there was a lull when the gains were not as much and it was consolidating at those higher levels. RIL has gone up 9 percent versus Nifty gains of nearly 57.6 percent in the past 12 months.
Nifty has gained 137 percent from March 2020 lows, while Reliance is up 184 percent. So, the majority of the rally was driven by RIL.
Going ahead, the trigger will be the clean energy business that is picking up. There is a market share opportunity in telecom as well. Subscriber edition numbers this month were one of the highest that the company has seen so far. There is improved spreads in the oil-to-chemical (O2C) division as well.
In terms of market capitalisation, the company has overtaken the global blue chips as well. RIL's market cap as of today is at $227 billion and it is higher than the big names like Accenture, Intel, Eli Lilly PepsiCo, AT&T Wells Fargo. TCS also falls in that list and its market cap is at nearly $192 billion.
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(Edited by : Bivekananda Biswas)
First Published: Sept 23, 2021 6:04 PM IST