Reliance Industries shares have risen 16.21% so far this year
Billionaire Mukesh Ambani-led Reliance Industries’ shares soared to a new record high on Monday, rising for the third day in a row. With that, Reliance Industries Limited (RIL)’s market capitalisation – or market value – touched the Rs 11.44 lakh crore mark, making the conglomerate the first Indian company to hit a market valuation of $150 billion. On the BSE, Reliance Industries shares climbed up 2.53 per cent to touch an all-time high of Rs 1,804.10 at the strongest level of the day.
Here are 10 things to know:
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At its intraday high, Reliance Industries’ market capitalisation – also known as M-Cap – jumped by Rs 28,273.13 crore compared to Rs 11.15 lakh crore on Friday.
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At 11:14 am, Reliance Industries shares traded 0.49 per cent higher at Rs 1,768.10 apiece on the BSE, in line with a 0.53 per cent gain in the benchmark Sensex index.
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At this level, RIL’s market value was at Rs 11,20,869.92 crore.
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Reliance Industries chairman and managing director Mukesh Ambani‘s net worth jumped to $64.5 billion, making him the only Asian tycoon in the exclusive club of the world’s top 10 richest people, according to news agency Bloomberg.
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The RIL shares have broken a slew of records in the past few days, rising on the back of investment in Jio as well as the success of the rights issue, say analysts.
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Mukesh Ambani said on Friday that Reliance Industries had raised a record Rs 1.69 lakh crore from global investors and a rights issue in 58 days.
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Reliance Industries is now “in its golden decade”, said billionaire Mukesh Ambani. “I have fulfilled my promise to the shareholders by making Reliance net debt-free much before our original schedule of 31st March 2021,” he said on Friday.
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Reliance Industries had a net debt of Rs 1,61,035 crore as on March 31, 2020.
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On that day, the market capitalisation of the country’s most valuable company had touched the Rs 11 lakh-crore mark for the first time ever, after the oil-to-telecom conglomerate said it had become net-debt free much ahead of its March 2021 target.
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Reliance Industries shares have risen 16.21 per cent so far this year, sharply outperforming the benchmark Sensex index which is down 15.81 per cent.
