Market capitalisation of Reliance Industries crosses Rs 4 lakh crore

Reliance Industries' market cap crosses Rs 4 lakh crore for the first time since January 18, 2008, as the stock surged 6 per cent on Monday. 

The stock has gained more than 16 per cent in the last four consecutive trading sessions on account of Jio's new tariff plans and its announcement to charge subscribers from April 1, 2017. 

Currently, Reliance Industries stands second after TCS, which has a market cap of Rs 4.9 lakh crore. Reliance Industries stock surge of 6 per cent on intraday basis and strong rally, helped the company to cross Rs 4 lakh crore market cap. The stock jumped to 9-year high of Rs 1,256. All the brokerage house have strong outlook on Reliance Jio's announcement to charge subscribers with effect from April 1.    

The stock of Reliance Industries opened for trading on BSE for Rs 1,182.60 and has rose 4.87 per cent and is currently trading around Rs 1,240.10 mark.