Billionaire Mukesh Ambani’s Reliance Industries has broken into the top 50 most valued companies internationally after it turned into the first company with a market capitalization of over Rs 13 lakh crore.
Billionaire Mukesh Ambani’s Reliance Industries Ltd has broken into the top 50 most valued companies globally after it became the first company with a market capitalization of over Rs 13 lakh crore.
The oil-to-telecom combination is positioned 48th in market cap globally, as per stock market data.
Comprehensively, Saudi Aramco is the organization with the most elevated market top of $1.7 trillion, followed by Apple, Microsoft, Amazon, and Alphabet.
Reliance on Thursday closed at Rs 2,060.65 on the BSE, up 2.82% over the earlier day’s close. This gave the firm an m-cap of over Rs 13 lakh crore.
Together with the company’s partly-paid shares that were issued in the recent rights issue and are traded separately, the company had a combined m-cap of Rs 13 lakh crore or over USD 181 billion.
No Indian company has ever crossed an m-cap of Rs 13 lakh crore.
This is higher than Chevron’s about $170 billion m-cap as well as likes of Oracle, Unilever, Bank of China, BHP Group, Royal Dutch Shell, and SoftBank Group.
Reliance is the 10th highest m-cap company in Asia. China’s Alibaba Group is ranked 7th globally.
The only other Indian company in the top 100 firms is Tata Consultancy Services. As per its closing price of Rs 2,170.75 on the BSE, TCS has an m-cap of Rs 8.14 lakh crore or about USD 109 billion.