RIL first hit Rs 1 trillion in market-cap in August 2005
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.
RIL first hit Rs 1 trillion in market cap in August 2005. It took the company 12 years to reach Rs 5 trillion in market cap in July 2017. Since them, the stock has seen a huge surge thanks to successful foray into the telecom space.
Currently, RIL is the most valued firm followed by Tata Consultancy Services
(TCS), which is valued at Rs 7.7 trillion. Also, RIL’s share in India’s total market cap is at a record level. Currently, the company accounts for nearly 9 per cent of the country’s total m-cap of Rs 138 trillion.
Three years ago, its share in the total m-cap was less than 4 per cent.