RIL's market valuation hit ₹21 lakh crore mark on Wednesday; shares are now up 29% YTD

The market heavyweight stock went up by 1.99% to settle at ₹1,569.75 on the BSE. During the day, the stock rallied 2.12% to ₹1,571.80, its 52-week high.

On the NSE, the firm's shares edged higher by 1.96% to ₹1,569.90. During the day, the stock reached its 52-week high of ₹1,571.60.

The company's market valuation surged to ₹21,24,259.89 crore at the close of trade on Wednesday.

It was the second day of gains for Reliance Industries.

So far this year, the blue-chip stock has surged over 29%.

The rally in the stock was also instrumental in driving equity markets higher.

The 30-share BSE SENSEX jumped 1,022.50 points, or 1.21%, to settle at 85,609.51. The 50-share NSE NIFTY zoomed 320.50 points, or 1.24%, to end at 26,205.30.

Analysts note that foreign investors returned on Tuesday, reinforcing bullish sentiment, while heavyweights including HDFC Bank, ICICI Bank and Reliance Industries added stability to the rally.

According to news reports, India’s data-infrastructure buildout hit a $13.5-billion inflection point on Wednesday, with a Reliance Industries Ltd (RIL) joint venture and Larsen & Toubro (L&T) announcing large-scale investments in data centres, driven by surging demand for artificial intelligence (AI) applications.

On Wednesday, Digital Connexion, RIL’s joint venture with Canadian asset management firm Brookfield and US-headquartered real estate investment trust Digital Realty, announced an $11-billion investment over five years to set up a 1 gigawatt (GW) data centre in Visakhapatnam, Andhra Pradesh, the report added.

RIL: Outlook strong

Recently, analysts at JP Morgan said they were positive on the company. Analysts at the global investment firm note that the stock's valuations are attractive. They also highlighted the next catalysts for the company's growth, which are the Jio IPO, tariff hike, new energy, and retail stability.

Reliance Industries Chairman Mukesh Ambani had said in August 2025 at the group's annual general meeting that preparations had begun for listing Reliance Jio in the first half of 2026.

Jio, RIL's telecom arm, and the group's digital businesses are housed under Jio Platforms.

Addressing the 48th Annual General Meeting of RIL, Ambani announced that Jio will now expand its operations overseas and develop its own artificial intelligence technology.

Ambani had said the upcoming IPO will demonstrate that Jio is capable of creating the same quantum of value as its global counterparts.