Reliance Industries becomes world's 40th most valuable firm

Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has entered top 40 of the world's most valuable firms league as it became the first Indian company to cross USD 210 billion in market capitalisation intra-day.

Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) has entered top 40 of the world's most valuable firms league as it became the first Indian company to cross USD 210 billion in market capitalisation intra-day. The RIL scrip rose to its all-time record high of Rs 2,344.95 on Thursday on NSE intra-day, before closing at Rs 2,319 with a 7.29 per cent gain.

ReliancePP scrip hit the 10 per cent upper circuit on NSE to its all-time closing high of Rs 1,393.7, which took the company's market capitalisation to Rs 15.45 lakh crore or USD 210 billion at peak valuation intra-day. At market closing, RIL's M-Cap stood at USD 208.3 billion. This is the first time that any Indian company has crossed the milestone of USD 200 billion market capitalisation, according to market analysts.

According to market analysts said Reliance Industries is currently the world's 40th most valuable firm, ahead of companies including Exxon Mobil, PepsiCo, SAP, Oracle, Pfizer and Novartis. RIL is also among Asia's top 10 most valuable companies. ReliancePP or the partly paid-up shares issued in recently concluded rights issue have jumped over 4.4 times in just about three months. The issue closed on June 4, 2020, where investors had to pay Rs 314.25 to own each of the partly paid-up share.

Reliance had crossed USD 150 billion market capitalisation on June 19, 2020, meaning it has added around USD 60 billion in investor value in less than 60 market days. (ANI)

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)