On Friday, the market capitalization of Reliance Industries Limited (RIL) crossed the figure of $ 150 billion. In terms of rupees, the market cap of the company has exceeded 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 to be a completely debt-free company on Friday and the company touched this historic high on the same day.
The rally in Reliance Industries shares continued on Friday and the price of the company's shares crossed the 1,700 marks for the first time. The shares of the company went up to Rs 1788.60 on the BSE on Friday. Also, the Mukesh Ambani-led company with an M-cap of $ 150 billion is now Vanguard, Unilever, China Mobile, McDonald's, AstraZeneca, T Mobile, Amgen, Costco, Bank of China, Sanofi, Accenture, Royal Dutch Shell, Bristol Myer Squibb has overtaken giants such as Philip Morris, BHP group, Texas Instruments, Invesco, American Tower, Wells Fargo, Citigroup and IBM.
In addition, Saudi Aramco topped the list of the world's most valuable companies with $ 1.7 trillion. This is followed by Apple, Microsoft and Amazon. This is followed by Alphabet, Facebook, Alibaba, Tencent and Berkshire Hathway. The company announced on Friday that with the recent investment and rights issue made by global investors in Jio Platforms, the company has become completely debt-free. 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.
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