India’s Richest person Mukesh Ambani‘s Reliance Industries Limited has now become the first Indian company to hit a market capitalization (mcap) of Rs 10 lakh crore (Rs. 10 Trillion or $140 billion) on November 28 with the stock rose to 0.74 percent intraday and flicked a record high of Rs. 1,581.25 as market price on the Bombay Stock Exchange (BSE).
The company reached from Rs. 5 Trillion in July 2017 to Rs. 10 Trillion on 28th November 2019
In terms of US dollars, the company is now valued at $140 billion which is higher than the Total SA’s $127.96 billion and compared to BP $99.57 billion. ($1= Rs 71.46)
In the value of Indian companies listed on stock exchanges, the company now has a market capitalization of 19 Nifty companies, or 35 PSUs and banks, or all constituents in the Nifty250 list.
RIL’s progress to Rs. 10 Trillion:
Reliance Industries Limited is the largest and most profitable private sector company in the country currently thanks to Reliance Jio Infocomm (Jio) that is the largest telecom subscriber in the country with more than 340 million subscribers.
Another booster for the company is its retail business which has grown exceptionally, recording a seven-fold increase in revenue and a 14-fold increase in profit in the last six years.