Reliance Industries' entry in the world's most valuable Top 50 companies

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(Commercial Representative) Mumbai, T. 23 July 2020, Thursday

The market capitalization of Reliance Industries Ltd, led by billionaire Mukesh Ambani, has crossed Rs 12 lakh crore, with the stock hitting a new record high of Rs 203 today. With this, Reliance Industries has entered the list of 50 most valuable companies in the world and has achieved the 7th position.

Oil-to-telecom giant Reliance Industries 'Mukesh Ambani was ranked fifth on Forbes' Real Time Billionaire list yesterday. Reports that Amazon would buy a holding in Reliance Industries' retail unit today set a new record high of Rs 303.50, with the fund's aggressive rise in shares of Reliance, hitting a new record high of Rs 3,050.5. With this, the market capitalization of Reliance Industries crossed the Rs 16 lakh crore mark today and reached a new high of Rs 15,09,8.5 crore. Which crossed the ૮ 161 billion mark. So far, no Indian company has achieved a market capitalization of Rs 15 lakh crore.

In terms of market capitalization, Saudi Aramco tops the list of the world's top 20 companies with a market cap of ૭ 1.2 trillion. It is followed by Apple, Microsoft, Amazon and Alphabet. Reliance Industries is now ranked 7th with a market cap of ૩ 161 billion and Rs 17.05 lakh crore. That's more than Chevron's કે 150 billion market cap.

Oracle, Unilever, Bank of China, BHP Group, Royal Dutch Shell and Softbank Group are among the companies with a market capitalization of 150 billion.

Tata Consultancy Services (TCS) is another Indian company in the list of top 100 companies in the world. With a market capitalization of Rs 3.16 lakh crore, or ૯ 104 billion.

In recent months, global technology giants, including Facebook and Google, and foreign investors have invested around Rs 1,50,000 crore in Reliance Industries' Geo platforms, buying a 7% stake. With this, Reliance has been able to raise Rs 2,17 crore through right issue of shares and has been fully released from debt.

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