Another First From RIL: M-cap crosses $100bn

Mukesh Ambani-led Reliance Industries today became the first Indian company to attain a market capitalisation of Rs 4 trillion (over $100 billion).

The share price of the country's most valued firm today rose by Rs 114.7 to a life-time high of Rs 2,805 pushing the company's market capitalisation to Rs 4,07,748.82 crore ($103 billion).

In a report released in August this year, global investment bank Morgan Stanley had predicted that Reliance could be the first Indian company to achieve the $100 billion market capitalisation mark. While forecasting an increase in share price of about 37% over the next year, Morgan Stanley said this would take RIL's market cap to more than $100 billion by August 2008. The company, however, has reached the milestone well ahead of Morgan Stanley's predictions, which was made when RIL's market cap stood at about $64 billion.

In the US, there are over 30 firms with a market capitalisation of over $100 billion. With RIL's achievement today, India, too, can now boast of having a company with a market capitalisation of over $100 billion.