Reliance Industries’ mcap crosses Rs 17 lakh crore, shares hit record highs

millionaire Mukesh Ambani-led Reliance IndustriesShares on Monday cemented the oil-to-telecom conglomerate’s position as the country’s most valuable company by hitting record highs. with profit in Shares of RILThe group’s market capitalization touched Rs 17 lakh crore for the first time just days after it touched Rs 16 lakh crore.

Shares of Reliance Industries were trading 1.5 per cent higher at Rs 2,520.7 in afternoon deals on BSE, hitting a record high of Rs 2,523.9.

Heavyweight RIL shares were the biggest contributors to gains in both Sensex and Nifty 50.

The shares of Reliance Industries have broken many records in the recent past.

As of Friday’s closing price, RIL shares have given investors 25 per cent returns in 2021 so far, which is equivalent to 26 per cent of the Sensex.

Here’s how RIL’s stock has performed over the past year:

Earlier this month, Ambani said that his group has started development of green energy complex in Jamnagar with an investment of Rs 75,000 crore. Describing climate change as a global problem, the billionaire said Reliance Industries will create or enable at least 100 GW of India’s 450 GW renewable target by 2030.