JIO FINANCIAL SHARES OUTPERFORMING IRFC AND JSW STEEL IN THE MARKET CAP RACE

RIL hits record high at Rs 2,989, closes at Rs 2,978; 39 firms exceed Rs 2 lakh crore market cap

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Jio Financial Services Ltd, a subsidiary of Reliance Industries Limited (RIL), achieved a significant milestone as its market capitalization surged past Rs 2 lakh crore for the first time. This surge was fuelled by a remarkable 35 percent increase in its share price over the course of the year. At 10.30 am on February 23rd, the shares of Jio Financial Services rose by 8 percent to reach a record high of Rs 326. This upward trajectory marked the fifth consecutive session of gains, resulting in a nearly 17 percent increase during this period, with the company’s market capitalization reaching Rs 2.08 lakh crore. Simultaneously, RIL, the parent company, also experienced a record high on the same day, reaching Rs 2,989 intraday. The stock closed at Rs 2,978 on the Bombay Stock Exchange (BSE), reflecting a 0.5 percent increase from its previous close. Currently, a total of 39 firms are trading above the Rs 2 lakh crore market capitalization mark on local stock exchanges, with Reliance Industries leading the pack with a market cap of Rs 20.05 lakh crore, followed by Tata Consultancy Services and HDFC Bank.