Reliance Communication hits USD 20 bn market cap

Reliance Communications on Friday touched a market capitalisation of 20 billion dollars, in line with the rise in stock markets.

Anil Ambani group company Reliance Communications on Friday touched a market capitalisation of 20 billion dollars, in line with the rise in stock markets.

The RCL scrip gained more than 2 per cent to touch a lifetime high of Rs 438.80 in morning trade on the Bombay Stock Exchange, taking its market capitsalisation to Rs 89,715.55 crore.

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A total of more than 25 lakh shares had changed hands on the bourses till mid-day.

Another group company Reliance Energy rose 2.3 per cent to Rs 540 on the BSE.

The benchmark Sensex on Friday continued its upward march on BSE in early trade, gaining over 74 points at 13,770.24.