Reliance Industries, the oil-to-telecom giant, achieved a historic milestone on Tuesday, as it became the first Indian company to reach Rs 20 lakh crore in market capitalization. The company’s shares rose by 2.5% on the BSE, closing at Rs 2,343.90.
The company, led by Asia’s richest person Mukesh Ambani, has seen its market value double in the past four years, thanks to its diversification into digital and retail sectors, and its successful fundraising from global investors such as Facebook, Google, and others.
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Reliance Industries is now the most valuable company in India, and the 40th largest in the world, according to Bloomberg data. It is also ahead of its global oil & gas peers such as Shell and PetroChina in terms of market value.
Reliance Industries Increase in its Stock price over the last three months
Reliance Industries started as a small textile manufacturer in 1966, and introduced the equity culture in India with its IPO in 1977. Since then, it has grown into a conglomerate with interests in petrochemicals, oil & gas, retail, telecom, and financial services. It has also invested in new areas such as e-commerce, education, health, agriculture, and media.
The company’s vision is to become a global technology and consumer powerhouse, with a focus on the Indian market, where it has over 400 million subscribers on its Jio network, and over 12,000 retail stores across the country.
The company has also announced plans to launch a low-cost 5G smartphone, a cloud partnership with Microsoft, and a new e-commerce platform called JioMart, which aims to connect millions of small merchants and consumers.
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Reliance Industries is not only a business success story, but also a symbol of India’s economic potential and ambition. The company has shown that it can innovate, adapt, and compete with the best in the world, while creating value for its shareholders, customers, and partners. As India strives to become a $5 trillion economy by 2024, Reliance Industries will be one of the key drivers of its growth and transformation.
Last Updated on 10 months
