Reliance Industries created history, broke market capitalization record

Sep 16 2020 05:03 PM
Reliance Industries created history, broke market capitalization record

On Wednesday, Mukesh Ambani's Reliance Industries Ltd has created history again. Launched as a startup, Reliance is one of the giants' in the country today. Reliance's market capitalization crossed the Rs 16 lakh crore mark during business on Wednesday. On the Bombay Stock Exchange, Reliance Industries shares rose 2.2 per cent to Rs 2,368. This is its all-time high level.

It closed at Rs 2,324.90 with a gain of 0.26 per cent and the market capitalization of the company reached 15.33 lakh crore. The company's stock has gained more than 173 per cent in less than six months. On 18 October 2019, Reliance became a company with a market capitalization of nine lakh crore rupees. It was the first company in the country to have a market capitalization of nine lakh crore rupees.

On 28 November 2019, the market capitalization of Reliance Industries had crossed 10 lakh crore. Whereas, the company stood at Rs 9.50 lakh crore last week. The market capitalization of India's veteran businessman Mukesh Ambani's company crossed Rs 11 lakh crore on 19 June 2020.

Mukesh Ambani had then declared his company doing business in areas ranging from crude oil to telecom to be pure debt-free, after which the company had registered a growth of more than 65 thousand crore rupees. The company has created history once again.

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