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RIL becomes first Indian firm to cross Rs 12 lakh crore market cap

The aggregate market capitalisation of billionaire Mukesh Ambani-led RIL, thus, stands at Rs 12.16 lakh crore, or $163.1 billion, on account of surge in share value after the company bagged 12th foreign investment for its digital arm Jio Platforms on Friday

twitter-logoBusinessToday.In | July 6, 2020 | Updated 19:56 IST
RIL becomes first Indian firm to cross Rs 12 lakh crore market cap
Mukesh Ambani, Chairman and Managing Director of Reliance Industries

Reliance Industries Limited (RIL) on Monday became the first Indian company to cross Rs 12 lakh crore market capitalisation. The aggregate market capitalisation of billionaire Mukesh Ambani-led RIL, thus, stands at Rs 12.16 lakh crore, or $163.1 billion, on account of surge in share value after the company bagged 12th foreign investment for its digital arm Jio Platforms on Friday. Shares of RIL closed the intraday trade at Rs 1,851.40, up 63.90 points or 3.57 per cent on BSE. RIL is followed by Tata Consultancy Services (TCS) and HDFC Bank on the list of market capitalisation.

Jio Platforms, the digital subsidiary of RIL, has raised Rs 117,588.45 crore from leading technology investors, including Intel, Facebook, Silver Lake Partners (two investments), Vista Equity Partners, General Atlantic, KKR, Mubadala, ADIA, TPG, L Catterton and PIF in the past few weeks. These investments have helped Reliance Industries' stock to maintain a steady upward momentum on the share market.

RIL stock price has risen 15.73 per cent in one month and 20.81 per cent since the beginning of this year.  It has gained 44.87 per cent in the past 12 months. The share had hit its 52-week low of Rs 867.82 on March 23, 2020 due to coronavirus-induced slump.

Meanwhile, in its latest annual report, RIL said the double-digit growth observed over 52 consecutive months might have been stalled due to the COVID-19 pandemic.Also Read: RIL share price hits all-time high, becomes first Indian firm to cross Rs 11.50 lakh cr market cap
Also Read: Reliance plans to up aviation fuel stations by 50 per cent

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