Reliance Industries: On Tuesday, the market capitalization of Reliance Industries Ltd, the conglomerate spanning from oil to telecom, surpassed the Rs 20 lakh crore mark. This milestone follows the flagship company RIL’s shares reaching a record high in today’s trading session. As of 11:28 am, RIL was trading 1.55% higher at Rs 2,947.95 per share.
Reliance Industries achieves a historic milestone by becoming the first Indian company to reach a market capitalization of Rs 20 lakh crore. The recent debut of Jio Financial Services, a Reliance subsidiary, played a significant role in this feat, adding to the accomplishment with a market capitalization of Rs 1.70 lakh crore. Notably, Reliance’s share price reflects the ex-demerger valuation at present.
In the past decade, RIL has effectively nurtured future-oriented ventures like digital services and retail, transitioning from its traditional oil and gas roots. RIL stands as the telecom industry frontrunner, having made substantial 5G investments surpassing its competitors, as noted by BNP Paribas on February 8. Furthermore, RIL has consistently delivered positive returns on an annual basis since 2015, except for 2014 when it experienced a minor decline of 0.5%.
This milestone highlights Reliance Industries’ sustained dominance within the Indian business arena, driven by its diverse portfolio and strategic endeavors.
