Nifty holds 9250, Midcap at new high; Reliance becomes most valuable Co

Epic Update Reliance Industries

Epic Update Reliance Industries

Better-than-expected earnings and hopes of a good amount of telecom business contribution to total revenue going ahead helped Reliance Industries become the most valuable company on bourses.

Reliance has the current market capitalization of Rs 4.67 lakh crore, surpassing TCS. The stock price was trading at Rs 1,444, up 2 percent.

Benchmark indices, as well as broader markets, retained early gains, with the Nifty and Midcap trading near their record highs hit in the opening.

The 30-share BSE Sensex gained 170.42 points at 29,826.26 and the 50-share NSE Nifty rose 50.90 points to 9,268.85. About three shares advanced for every two shares falling on the BSE.

Nifty Midcap and Smallcap indices climbed 0.8 percent each.

Reliance was the most active stock on the National Stock Exchange, followed by M&M, Bharat Financial, Biocon and Reliance Capital.

State-run power equipment maker BHEL gained 2 percent on export order worth Rs 10,000 crore for the thermal power project in Bangladesh.
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