Mukesh Ambani's company sets new record as shares hit all time high, market cap crosses...

Indian billionaire Mukesh Ambani heads the largest company in India -- Reliance. He is the richest person not only in India but also in Asia. His other firm, Jio Financial Services, has crossed the Rs 2 lakh crore market cap for the first time. The company's shares touched 52-week highs (Rs 347 apiece) on the bourses on Friday and closed at Rs 335 apiece on the NSE. This is the second firm of billionaire Mukesh Ambani-led Reliance Group to reach a market cap of over Rs 2 lakh crore. The market cap of the company closed at Rs 212000 crore on NSE.

In the intra-day trade, shares of Jio Financial Services rallied 14.50 per cent to hit a 52-week high of Rs 347 apiece on the bourse. Also, the company's market valuation jumped Rs 27,922.69 crore to Rs 2,20,458.96 crore during the intra-day trade on the BSE. Shares of the firm also rose nearly 15 per cent to reach a record high of Rs 347 apiece on the NSE and marked its 52-week high level.

Earlier this month, the financial services arm of Reliance Industries Ltd (RIL) clarified that it has not been in any negotiations to acquire Paytm wallet. On January 15, Jio Financial Services Ltd reported a 56 per cent decline in consolidated net profit at Rs 294 crore for the third quarter ended December 2023, compared to the previous quarter.

(With inputs from PTI)

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