Current Affairs

Reliance Industries first Indian company to cross Rs. 8 trillion market cap

Mukesh Ambani-led oil-to-telecom behemoth Reliance Industries Ltd (RIL) became the first Indian company to cross Rs 8 lakh crore ($114 billion) market capitalisation.
Reliance Industries first Indian company to cross Rs. 8 trillion market cap
  • This record m-cap of RIL also bumped up Mukesh Ambani's (India's richest man) wealth to over $48 billion (according to Bloomberg Billionaires Index). 
  • M-cap is the value of a company that is traded on the stock market, calculated by multiplying total number of shares by present share price.

More Details:

  • RIL achieved Rs 8 lakh crore m-cap feat, after its shares rose by 1.86% to close at a record high of Rs 1,269.70 on Bombay Stock Exchange (BSE) in intra-day trade, elevating its market cap to Rs 8.05 lakh crore. 
  • So far this year, RIL shares have surged over 38 per cent.
  • RIL added the latest Rs 1 trillion in market cap in just 23 trading sessions.
  • It had first crossed Rs 7-trillion market cap in July 2018 (for the second time after it had achieved $100 billion m-cap for the first time in 2007).
  • It took 181 trading days to move from Rs 6 trillion to Rs 7 trillion m-cap.
  • Currently, RIL's market value accounts for 5% of India's total market cap.
  • The market valuation of RIL is considerably higher than IT giant Tata Consultancy Services (TCS') Rs 7,77,870 crore m-cap.
  • TCS was the first Indian IT company to reach Rs. 7 lakh crore ($100 billion club) market capitalisation (m-cap) milestone in May 2018 and second company after to achieve that milestone after RIL.

About Reliance Industries Limited (RIL):

  • It is an Indian conglomerate company founded in 1977 by Dhirubhai Ambani.
  • It is headquartered in Mumbai, Maharashtra, India.
  • At present, Mukesh Ambani is the Chairman and MD of RIL and owns about 47% stake in it.
  • RIL is engaged in energy, petrochemicals, textiles, natural resources, retail, and telecommunications.
  • It is the second largest company in India as measured by revenue after government-controlled Indian Oil Corporation.
  • It is ranked 203rd on the Fortune Global 500 list of the world's biggest corporations as of 2017.
  • It is ranked 8th among the Top 250 Global Energy Companies by Platts as of 2016.

Question:

Q. Which company became the first Indian company to cross Rs 8 lakh crore ($114 billion) market capitalisation?
a. Tata Consultancy Services (TCS)
b. Reliance Industries Ltd (RIL)
c. Infosys
d. None of the above
Reliance Industries first Indian company to cross Rs. 8 trillion market cap Reliance Industries first Indian company to cross Rs. 8 trillion market cap Reviewed by Inderjeet Virdi on August 25, 2018 Rating: 5

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