RIL the first Indian company cross Rs 8lakh crore in market cap

   

Reliance Industries Ltd. (RIL) has become the first Indian company to cross Rs 8lakh crores

M. Ambani is back with Billion Dollar Telecom Project

Ambani is back with his $10-billion telecom foray to offer bundled voice and data services in the country.
Ambani is ready to roll out 4G services later this year, most likely on December 28, the birth anniversary of his father and Reliance founder, the late Dhirubhai Ambani.
The ambitious project is expected to roll out in three phases starting with Delhi & Mumbai later this year, followed by 69 cities by 2014 and over 800 cities by early 2015.
After exploring different possibilities , RIL has finally decided to set up over 1 lakh telecom towers on its own, moving away from its earlier asset-light strategy. The low-emission towers will look different from the existing ones in the country with entire equipment installed inside it.
The towers, which cost a little over Rs 1 lakh each, are expected to be manufactured by Himachal Futuristic Communications, in which Reliance Industries (RIL) holds a stake, while a part of it may be outsourced, said another source in the know. The company has sought permission from the Navi Mumbai Municipal Corporation to install towers in the satellite city.
Ambani had bought a 95% stake in Infotel Broadband Services for Rs 4,800 crore in June 2010. Within three years, the government allowed BWA holders to offer voice services by just paying an additional Rs1,680 crore.

Market heat in India

The BSE benchmark rose 2 points to 17,559.86 and the NSE benchmark climb up to 2 points to 5,322.30.

Housing finance company has extended gains to 2.5% whereas top commercial vehicle maker Tata Motors still stand on top losers group with 2.6% losses.

Vedanta group company Sterlite Industries and country's largest car manufacturer Maruti Suzuki rallied 2% each.

Telecom operator Bharti Airtel and state-owned power equipment manufacturer BHEL jumped 1.5%.

Engineering and construction major Larsen & Toubro was on upside with 0.9% and index heavyweight Reliance Industries moved up 0.7%.

India's largest private sector lender ICICI Bank fell 1.2% while its rival State Bank of India gained 0.3%. Cigarette major ITC went down 0.7%.

Shares of TCS, HUL, Tata Steel, Hindalco Industries, Hero Motocorp and Jindal Steel were down 1-2%.

State run Coal-India beat the corporate leaders

In between the present trend of downmarket, the cumulative market capitalisation of eight of the top 10 companies grew by Rs 39,723 crore, with state-run Coal India alone adding Rs 8,432 crore.
However, corporate leader Reliance Industries and power producer NTPC saw erosion in their market value.
The BSE 30-scrip benchmark index Sensex up by 1.38% to end the trading week at 16,949.83 on Friday.
CIL m-cap advanced Rs 8,432 crore at Rs 2,14,724 crore, becoming the top gainer among the top 10 firms.
IT bellwether TCS was the second biggest gainer as its m-cap rose by Rs 7,887 crore at Rs 2,48,850 crore.
FMCG firm ITC added Rs 6,568 crore taking its value to Rs 1,93,975 crore, while the m-cap of Infosys surged Rs 5,791 crore to Rs 1,44,708 crore.
ONGC saw a spurt of Rs 5,561 crore in its market worth which stood at Rs 2,27,362 crore, while Bharti Airtel 's valuation moved up Rs 3,057 crore to Rs 1,18,444 crore. HDFC Bank added Rs 2,243 crore at Rs 1,28,694 crore and SBI 's worth climbed Rs 184 crore to Rs 1,46,475 crore.
In contrast to the gains made by these companies, RIL saw the loss stage of Rs 917 crore from its m-cap which was at Rs 2,37,928 crore, while NTPC lost Rs 4,659 crore from its value which was stood at Rs 1,23,764 crore.
TCS retained the number one position on the list, while RIL was at second place, followed by ONGC, CIL, ITC, SBI, Infosys, HDFC Bank, NTPC and Bharti.