RIL 57th most valuable firm globally by market-cap; Saudi Aramco tops chart
Reliance Industries (RIL) became the first Indian company to be valued at $150 billion on Monday with the stock hitting a fresh all-time high of Rs 1,804 on the BSE. Over the past three months, the RIL stock has doubled – from a low of Rs 883.85 hit on March 23 as compared to a 35 per cent rise in the S&P BSE Sensex.
The up move in RIL has been triggered by a series of investments in its telecom business vertical – Reliance Platforms – by marquee global companies and investors that include Facebook, Silver Lake Partners, KKR, General Atlantic, Mubadala, and TPG. In the process, RIL has become net-debt free much ahead of its deadline to achieve this status by March 2021.
