New Delhi: Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) became the first company in the country to have surpassed $200 billion market capitalization mark. With strong show on the stocks markets, it has also entered a select league by making its place in Top 40 of world’s most valuable firms.
The RIL stock spiked to its all-time record high of Rs 2,344.95 on Thursday in intra-day trade, before closing at Rs 2,319 with a 7.29 per cent gain. This took the company’s market capitalisation to Rs 15.45 lakh crore or $ 210 billion at peak valuation intra-day.
At the closing bell, RIL’s market capitsation was $ 208.3 billion. According to market analysts, this is the first time that any Indian firm has achieved such milestone of $ 200 billion market capitalisation,.
With Reliance Industries scaling new heights, it has become world’s 40th most valuable firm and has left behind global MNCs like Exxon Mobil, PepsiCo, SAP, Oracle, Pfizer and Novartis. RIL is also among Asia’s top 10 most valuable companies.
In the recently concluded rights issue, its shares had risen over 4.4 times in just about 3 months. The issue closed on June 4, where investors had to pay Rs 314.25 to own each of the partly paid-up share.
Reliance Industries had crossed $ 150 billion market capitalisation on June 19, 2020. In less than 60 days, it has added around $ 60 billion in investor value.
