Following stellar gains in its share price, RIL became the first Indian firm to achieve the milestone of crossing Rs 11 trillion market valuation mark on Friday
The Mukesh Ambani-controlled conglomerate, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and m-cap.
These pay cuts would apply only to the employees in Reliance's hydrocarbon division and earning more than Rs 15 lakh a year; those earning less would not be impacted
A decisive close above Rs 1,400 triggered short-covering, resulting in the new up move. That apart, a "flag pattern" with a breakout suggests Rs 1,420 and Rs 1,450 will act as an immediate support
The Mukesh Ambani-led company is slated to release its September quarter results later in the day where it is expected to report a strong quarter for the July-September period.
RIL touched a fresh record high of Rs 1,107 on BSE which is up by 2.5% from its previous close with a market cap of Rs 7.01 trillion at 09.52 am; the BSE data shows.