How RIL became the first Indian company to top Rs 11 trn in market-cap
Mukesh Ambani-led Reliance Industries has become the first domestic company to top Rs 11 trillion in market capitalisation (m-cap). Shares of the oil-to-telecom behemoth soared 6.2 per cent –most in two months—on Friday as investors cheered the company’s announcement that it has become net-debt free.
At closing price of Rs 1,760, RIL is valued at Rs 11.15 trillion. If one adds value of partly paid shares of Rs 67,500 crore, the company’s m-cap adds up to almost Rs 11.83 trillion. In dollar terms, RIL’s m-cap translates into $155 billion, making it the 54th largest company globally.
Shares of RIL have more than doubled from this year’s low of Rs 868 in March underpinned by stream of investments in its arm Jio Platforms. Also, the successful conclusion of Rs 53,124-crore rights issue—India’s biggest ever—has further buoyed sentiment towards the stock.
