Jio Financial Market Cap Crosses Rs 2 Lakh Crore, RIL Group Stocks Gain
Among the group stocks, Jio Financial's market cap is the second best after Reliance Industries Ltd.
Jio Financial Services Ltd.'s market capitalisation topped the Rs 2-lakh-crore mark as its shares hit a lifetime high on Friday.
The milestone comes on a day RIL Group stocks advanced as much as Rs 47,000 crore to take its market capitalisation to Rs 22.9 lakh crore during the day.
Jio Financial's stock rose as much as 14.58% intra-day to an all-time high of Rs 347 apiece on the NSE. It was trading 9.25% higher at Rs 330.85 per share, compared to a 0.07% advance in the benchmark Nifty 50 as of 12:20 p.m.
Among the group stocks, Jio Financial's market cap stood at Rs 2.11 lakh crore and is the second best after Reliance Industries Ltd, which is the highest valued company in India.
Most stocks of the oil-to-telecom conglomerate rose in trade. Shares of the flagship Reliance Industries Ltd. rose 0.85% to an all-time high of Rs 2,988 apiece during the day. On Thursday, data released by the Telecom Regulatory Authority of India showed that Reliance Jio Infocomm Ltd. added 39.9 lakh net wireless subscribers in comparison to 34.5 lakh in November.
Shares of Reliance Industrial Infrastructure Ltd. were trading 7.98% higher, while those of Alok Industries Ltd. were over 4% up as of 12:20 p.m. The only stock that was trading lower was Balaji Telefilms Ltd.
