Archive for October, 2017

Reliance Rises to INR 6 Lakh Crore Market Capitalization

October 25, 2017

Today, Reliance Industries Limited (RIL), which is led by Mukesh Ambani, reached a new milestone.

Market capitalization milestone

RIL has topped its market capitalization by INR 6 lakh crore, with the help of its shares. This is a big achievement for the company. The conglomerate is one of the most valued companies and is far ahead of a number of other companies as well.

India’s most valued company

RIL has alone added more than INR 2 lakh crore in this year to its market capitalization. It crossed INR 4 lakh crore by 27th February 2017 in its market capitalization. This amount soon rose to INR five lakh crore and by July, it became the most valued company in India. The rise to INR 6 lakh crore may be attributed to its shares which hit an all-time high of INR 947.7 on the NSE.

In the year 2007, the company was India’s most valued company too. At that time it had crossed the 20,000 mark in the BSE Sensex. Before this, in 2006, it was known as the second-most valued company of India. At that time, the benchmark index had touched the 10,000 mark for the first time. Though there has been a little underperformance for eight years in RIL’s stock, it has shown some drastic change after the launch of its telecom subsidiary Reliance Jio. In the last three months, the shares of RIL have been up by more than 25 percent.

RIL has ranked 203rd on the Fortune Global 500 list. This ranking is based on the total revenue. There are only seven Indian companies on this list and RIL is one of them.

IAA leadership Award

Mukesh Ambani, the Chairman and Managing Director of RIL shared some of the insights of the rise of the company at the International Advertising Association Leadership Awards (IAA). He said that RIL has completed 40 years of being a public company, and he feels fortunate to be a part of it since the first year. At that time, he was a chemical engineering student and the enterprise value of the company was less than USD 5 million. He feels that it has been a phenomenal journey that within 40 years the company has increased its enterprise value to USD 250 billion.

Vision of Dhirubhai Ambani

Mukesh Ambani said that it was the vision of Dhirubhai Ambani to invest in the talent and in the businesses of the future. He also said that RIL believed in the power of the youth and hence it has been investing in the same.

Forbes India Rich list 2017 results

Mukesh Ambani has recently topped the Forbes India Rich list 2017. He currently has a net value of USD 38 billion. It is not the first time when he topped this list; he has topped the chart for the 10th time.

Summary

Reliance Industries Limited has seen a rise in market capitalization and Mukesh Ambani topped the Forbes India Rich list 2017.