Reliance First Indian Firm to Reach $200 Billion M-Cap, Becomes World's 40th Most Valuable Company
File photo of Reliance Industries chairman, Mukesh Ambani. (Image: Reuters)
New Delhi: Mukesh Ambani-led Reliance Industries Limited (RIL) has entered top 40 of the world's most valuable firms’ league as it becomes the first Indian company to top USD 210 billion in market capitalisation intra-day.
At Thursday’s closing price, RIL had market cap of Rs 15.3 billion or USD 208 billion.
Tata Consultancy Services (TCS) is a distant second with market cap of Rs 8.75 trillion, or USD 119 billion. RIL is now ahead of American firms such as Exxon Mobil, PepsiCo, SAP and Oracle.
At the peak of the Covid-19 sell-off in March, RIL’s market cap had plunged to USD 73.4 billion. Since then, the Mumbai-based firm has seen its market value soar 2.84 times. It has added USD 135 billion in market cap in 118 trading sessions since March 23. That translates into USD 1.14 billion m-cap addition in every session.
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.
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