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At 10.10 am, shares of RIL were trading at Rs 1,579, up 0.61 per cent on BSE. The market cap stood at Rs 10 lakh crore at the same time.
The scrip has climbed 41 per cent year-to-date. In comparison, 30-share pack Sensex has grown barely above 12 per cent.
The scrip had been flirting with the milestone since last week when it hit Rs 9.5 lakh crore in market capitalisation. The oil-to-telecom giant had hit Rs 9 lakh crore mark on October 18, being the first company in India to do so. It took little more than a month for the firm to add another Rs 1 lakh crore to its valuation.
Tata Consultancy Services, the second most valued firm on the bourses, has a market cap of Rs 7.81 lakh crore.
RIL was also the first company to reach Rs 8 lakh crore mark in August last year. It was also the first company to hit the $100 billion mark in market-cap in 2007, a feat it repeated last July.
In dollar terms, the company is valued at $140 billion, more than the valuation of Total SA ($128 billion) and BP ($99.57 billion).
Analysts believe RIL’s telecom arm Jio is set to further drive the stock’s outperformance thanks to the recent tariff hike.
“With all three telecom companies now making public statements on their intention to increase tariffs, we believe lower Arpu (average revenue per user) phase is behind us,” J P Morgan analysts said in a note on November 20.
The brokerage has built in a 25 per cent tariff hike over the next two years, which could drive its estimate for RIL’s PAT (profit after tax) increase to 12 per cent during FY21-22.
Jal Irani, senior vice-president, wholesale capital markets, Edelweiss Financial Services said the brokerage’s target price for RIL stock was at over Rs 1,700.
Data from Reuters Eikon showed analysts are most bullish on RIL in at least four months. Currently, RIL has 16 ‘strong buy’, 10 ‘buy’, five ‘hold or neutral’, one ‘sell’ and one ‘strong sell’ ratings.
Exxon Mobil is the most valued energy company in the world at $290 billion.
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