Home BUSINESS Reliance Industries's market value touched the Rs 11.44 lakh crore


Reliance Industries’s market value touched the Rs 11.44 lakh crore

Billionaire Mukesh Ambani-led Reliance Industries’ shares soared to a new record high on Monday, rising for the third day in a row. With that, Reliance Industries Limited (RIL)’s market capitalisation – or market value – touched the Rs 11.44 lakh crore mark, making the conglomerate the first Indian company to hit a market valuation of $150 billion. On the BSE, Reliance Industries shares climbed up 2.53 per cent to touch an all-time high of Rs 1,804.10 at the strongest level of the day.

Reliance Industries chairman and managing director Mukesh Ambani‘s net worth jumped to $64.5 billion, making him the only Asian tycoon in the exclusive club of the world’s top 10 richest people, according to news agency Bloomberg.

Mukesh Ambani said on Friday that Reliance Industries had raised a record Rs 1.69 lakh crore from global investors and a rights issue in 58 days.

On that day, the market capitalisation of the country’s most valuable company had touched the Rs 11 lakh-crore mark for the first time ever, after the oil-to-telecom conglomerate said it had become net-debt free much ahead of its March 2021 target.