Reliance first company to touch the Rs 20 lakh crore m-cap mark

Reliance Industries is now the first Indian firm to hit the Rs 20 lakh crore m-cap mark

Reliance Industries Ltd. (RIL), owned and led by Mukesh Ambani, is now the first Indian-listed conglomerate to cross a market capitalization landmark of Rs 20 lakh crore. The company reached the mark with a value of Rs 19, 93, 881.61 crore as the trade proceeded on Tuesday (February 12).

The RIL shares increased 1.88 percent to touch a high of Rs 2957.80 on the Bombay Stock Exchange (BSE). The oil-to-telecom major demerged Jio Financial Services (JFS) recently, which is enlisted on the exchanges witnessed a m-cap of Rs 1, 70, 331.55 crore when counted last.

The fresh gains in the RIL m-cap facilitated the flagship group to reach the $12.5 billion mark in 2024 alone. According to the Bloomberg Billionaire Index, Mukesh Ambani currently stands as the richest Indian and 11th wealthiest globally.

RIL has nurtured many future businesses such as retail and digital services, which has changed the firm from being an inheriting oil & gas corporation. However, it has transformed its fortunes to be the leader in the telecom domain, making huge investments in 5G compared to its peers, says BNP Paribas in a February 8 address.

It further says that RIL remains well-positioned to gain from the increasing data demand in India and a possible tariff rise. Also, with the commencement of production from the KG-D6 gas fields and progress in realizations, its oil & gas business is also growing along with the promise of its latest green energy business (batteries, fuel cells, solar, and hydrogen). Moreover, retail is also witnessing quick store expansions in India.