Mumbai: Reliance reigns even in Corona crisis. The market capitalization of Reliance Industries Limited (RIL) crossed the $ 150 billion mark on Friday. In terms of rupees, the market cap of the company has crossed Rs 11 lakh crore. RIL has joined the world’s most valuable companies with a new high in terms of market cap and is currently ranked 58 on the list. RIL has a market capitalization of $ 151.2 billion and Reliance is the first company in the country to reach this value. Reliance announced it to be a completely debt-free company on Friday and the company touched this historic high on the same day.
Reliance Industries shares continued to rise on Friday and the price of the company’s shares crossed the 1,700 mark for the first time. Shares of the company went up to Rs 1788.60 on the BSE on Friday.
Mukesh Ambani-led company with $ 150 billion M-cap now Vanguard, Unilever, China Mobile, McDonalds, AstraZeneca, T Mobile, Amgen, Costco, Bank of China, Sanofi, Accenture, Royal Dutch Shell, Bristol Myer Squibb, Philip Morris, BHP group, Texas Instruments, Invesco, American Tower, Wells Fargo, Citigroup and IBM has overtaken such giants.
Saudi Aramco tops the list of world’s most valuable companies with $ 1.7 trillion. This is followed by Apple, Microsoft and Amazon. It is followed by Alphabet, Facebook, Alibaba, Tencent and Berkshire Hathway.
Reliance reigns even in Corona crisis. The company announced on Friday that the company has become completely debt free with the recent investment and rights issue by global investors in Jio Platforms. After this, there was a surge in the company’s shares. RIL has raised Rs 1.68 lakh crore in just 58 days. The company owed Rs 1.61 lakh crore as on 31 March 2020.