Reliance Industries becomes the first Indian company with a market cap of Rs 20 lakh crore
Industrialist Mukesh Ambani led Reliance Industries Limited (RIL) on Wednesday became the first company in the country to achieve a market cap of Rs 20 lakh crore. The market cap of the company has become more than that of companies like PepsiCo, Netherlands’ energy company Shell and China’s PetroChina Limited. Reliance shares briefly touched the market cap of Rs 20 lakh crore on Tuesday. However, at the end of trading it stood at Rs 19,93,881.61 crore.
On Wednesday, the company’s shares closed at Rs 2,963.60 per share, which is 1.14 percent more than the previous closing. With this, the market cap of the company became Rs 20.05 lakh crore at the end of trading.
With this achievement, the company has come to 49th position among the top 50 companies of the world in terms of market cap, ahead of giants like PepsiCo, Shell PLC and Cisco. If the M-cap of Jio Financial Services, which was separated from Reliance on July 20, 2023, is included, then the overall market cap of Reliance will be Rs 21.73 lakh crore. With this the company will be at 43rd position. This will put it ahead of Accenture and Netflix.
Microsoft Corp is the world’s most valuable company with an M-cap of $3.08 trillion. This is followed by Apple Inc ($2.89 trillion), Saudi Aramco ($2.04 trillion) and Google’s parent company Alphabet Inc ($1.84 trillion). The market cap of Reliance is $239 billion.
