Mukesh Ambani-led Reliance Industries’ (RIL’s) market value on Thursday surpassed the Rs 10-trillion mark, making it by far the most-valued listed firm in the country and 64th globally. Shares of the diversified conglomerate have been on fire in the past two years, underpinned by strong momentum in its telecom and retail verticals. RIL can also boast of highest net sales and profits among India Inc. The conglomerate alone now accounts for 6.5 per cent of India’s total market cap.
Also, the gap between the company and TCS, the second-most valued company, has now widened to nearly 30 per cent. In dollar terms, RIL is valued at $140 billion, slightly below global oil and gas peers France’s Total and China’s Petrochina. Some analysts are pegging RIL’s market cap
to climb to $200 billion driven by its retail and digital businesses and assets monetisation.