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RIL 1st Indian firm to cross market cap of ₹10 lakh cr

Nov '19
Pic: RIL
Pic: RIL
Reliance Industries Ltd (RIL) has become the first Indian firm to cross the market capitalisation of ₹10 lakh crore as its shares touched its new 52-week high of ₹1,581.25 on November 27 morning, valuing RIL at over ₹10,03,206 crore. This makes company chairman Mukesh Ambani the 12th richest man in the world and Asia’s richest with personal wealth of $60.7 billion.

Ambani controls almost 42 per cent of Reliance Industries.

It took just 25 trading sessions for the oil-to-retail conglomerate to reach the market capitalisation of ₹10 lakh crore from ₹9 lakh crore, while it took 284 trading sessions to reach the market capitalisation of ₹9 lakh crore from ₹8 lakh crore, according to Indian media reports.

India's second most valued firm Tata Consultancy Services’ (TCS) market capitalisation stands at ₹7,81,772 crore.

RIL entered into an agreement with Saudi Aramco to sell 20 per cent stake in oil-to-chemicals business at valuation of $75 billion. It is also in talks with investors to sell stakes in retail, telecom and media businesses.

Fibre2Fashion News Desk (DS)

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