Reliance Industries Limited (RIL) became the first Indian company to surpass market capitalisation of USD 200 billion on September 10. According to moneycontrol, billionaire Mukesh Ambani-backed RIL has been ranked as 44th in terms of valuations globally.
The shares of RIL surged by over 54 per cent year-on-year. The investment Reliance attracted for its telecom and retail business has helped the company's stock rise about 166 percent from its 2020 low of Rs 867.
The oil-to-retail-to-telecom conglomerate recently attracted Rs 7,500 crore investment for its retail business from Silver Lake. With this investment, the US-based picked up a 1.75 per cent stake in Reliance Retail Ventures (RRVL), valuing the company at Rs 4.21 trillion. Recently, RRVL had announced its plan to acquire the retail and wholesale business and the logistics and warehousing business from the Future Group for Rs 24,713 crore.
RIL now ranks among companies such as Pfizer, AT&T, Intel Corp, Toyota Motor Corp, Coca-Cola, Netflix, Bank of America, PayPal Holdings, Adobe which have a market capitalisation in the range of USD 201 to USD 230 billion.
With talks with Amazon, KKR & Co and others going on, there are more such investments in the pipeline. This is expected to drive the valuation of RIL even further.Market slips after opening gain: Reliance Industries, HDFC Bank and Kotak Bank in focusWorld’s top 10 richest as on September 11: Mukesh Ambani now fifth richest overtaking Warren Buffett and Bernard Arnault
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