Reliance Industries Ltd has recently achieved a significant milestone, with its market capitalization surpassing Rs 21 lakh crore. This remarkable achievement not only marks a new high in the Indian corporate sector but also underscores Reliance Industries' strategic growth and robust performance. As the first Indian company to reach this landmark, Reliance Industries continues to set new benchmarks and exemplify excellence in the corporate world.

Stock Performance and Market Impact

At 10:30 AM, Reliance Industries' stock rose by 1.5%, reaching a record high of Rs 3,129 per share. This surge followed the announcement by Reliance Jio Infocomm Ltd of new unlimited plans, effective from July 3. The new tariffs range from Rs 189 for 2 GB/month to Rs 3,599 for a 2.5 GB/day annual plan, including unlimited 5G data for plans of 2 GB/day and above. This strategic move by Reliance Jio has significantly contributed to the upward momentum in Reliance Industries' stock price.

Analysts' Perspective and Future Projections

Jefferies has raised Reliance's price target to Rs 3,580 from Rs 3,380, indicating a 17 percent upside from the previous close. The brokerage maintains a 'Buy' rating, projecting Jio's revenue and profit to grow at an annual pace of 18 percent and 26 percent, respectively, from FY24 to FY27. Similarly, Morgan Stanley maintains an 'Overweight' rating with a Rs 3,046 stock price target, highlighting the positive impact of the new tariffs and anticipating new energy cash flow streams by year-end.

Market Sentiment and Analyst Recommendations

Among 35 analysts covering Reliance Industries, 28 recommend a 'Buy,' five suggest 'Hold,' and only two advise 'Sell.' This overwhelmingly positive sentiment reflects confidence in Reliance Industries' strategic direction and growth potential. The recent tariff hikes align with market expectations and are projected to boost earnings significantly, enhancing investor confidence and attracting further investments.

Reliance Industries Milestone Market Capitalization: A Pioneering Achievement

Reliance Industries' attainment of a market capitalization of Rs 21 lakh crore is a testament to its strategic vision and robust performance. This pioneering achievement sets a new benchmark in the Indian corporate sector, demonstrating the company's ability to lead and innovate. As Reliance Industries continues to expand and evolve, it remains at the forefront of corporate excellence, setting a precedent for other companies to aspire to.