IndiaCatalog.com
India News
Search Web Directory
News Home
Mukesh Ambani-led RIL m-cap hits $100 billion, once again; shares surge 5% to all-time high
Posted on 12th July 2018
RIL hits $100 billion again: Billionaire Mukesh Ambani-led Reliance Industries hit $100 billion mark in market capitalization, even as the shares surged to all-time high levels on Thursday. Reliance Industries shares zoomed to an intra-day high of Rs 1,091.5, up by nearly 5%, intra-day taking its market capitalization to 6.87 lakh crore, or $100 billion, converted at the current USD/INR rate of 67.82.

Earlier, the oil and gas-to-telecom behemoth had first crossed the $100-billion market-cap mark in October 2007. However, back then the rupee was at 39.5 to a dollar. In May this year, India’s largest IT services company by turnover and market capitalisation TCS(Tata Consultancy Services) clinched $100 billion in the market capitalisation, on the back of stellar results.

The rally in the shares comes on the back of a surge in the stocks of oil marketing companies, buoyed by a slump in global crude oil prices. Reliance Industries, with its market capitalisation at Rs 6.86 lakh crore is now India’s second most valued firm, after TCS (Tata Consultancy Services). RIL shares have risen by nearly 20% since January-18. “It is a matter of great pride for me that, since Reliance’s IPO in 1977, our shareholders’ money has doubled every two and a half years, for the last 40 years,” Mukesh Ambani noted recently.

The calendar year 2017 had been a stellar year for the firm, as the firm crossed the 6 lakh crore market capitalisation. In the last year alone RIL has added more than Rs 2 lakh crore to its market capitalisation. It was just on on February 27th this year, RIL crossed the 4 lakh crore market capitalisation, and very soon rose to Rs 5 lakh crore, to trump TCS to become India’s most valued company in July-17 this year.

“My father founded Reliance in 1966 with one just employee and with a meagre capital of only Rs 1000, or about USD 130 at that time. Even then, his dream was to build Reliance as a world-class and world-scale Indian business conglomerate. He realised his dream in his own lifetime,” Mukesh Ambani said at Financial Times ArcelorMittal Boldness in Business Awards in March this year.

At Reliance Industries’ 41st AGM held last week, Chairman Mukesh Ambani unveiled his mega plan for the ‘golden decade,’ and said that the size of his company will more than double by 2025. In a slew of announcements, Ambani unveiled his big Jio plan, with the launch of JioPhone2, JioGigaFiber and JioGigaTV. Mukesh Ambani also pointed to the unparalleled rise of his telecom upstart Reliance Jio.

“Since I last spoke, we have doubled our customer base to over 215 million now. 215 million customers within 22 months of start is a record that no technology company has been able to achieve anywhere in the world,” Mukesh Ambani noted, adding that the data usage has grown from 125 crore GBs per month to more than 240 crore GBs per month.

Related Companies: Reliance Industries Limited (RIL)   

Other Latest News
BSNL sold 4,000 satellite phones in last year; aims to sell 10,000 handsets by March 2019
Posted on 23rd July 2018
A year since the high-profile launch of its satellite phone services, BSNL has sold 4,000 handsets, majority to government agencies, and expects the number to reach 10,000 by March 2019 riding on fresh demand from corporates and states for the premium service, its Chairman Anupam Shrivastava said.

SBI, PNB and other PSBs alert: Branches likely to be closed in these areas
Posted on 23rd July 2018
Public Sector Banks (PSBs), including State Bank of India, Punjab National Bank, Indian Overseas Bank, IDBI Bank and Bank of India, are likely to shut one-third of their overseas branches. With an aim to tone down the cost and preserve capital, the Public Sector Banks have decided to close 70 of their 216 foreign branches, according to Indian Express report.

Bajaj and Honda neck and neck for No. 2 slot
Posted on 23rd July 2018
The race for the No. 2 motorcycle manufacturer in the domestic market is almost mirroring a see-saw battle between Bajaj Auto and Honda Motorcycle and Scooter India (HMSI) since the beginning of FY18 and the battle continues on the same lines in the current fiscal also. The country’s annual 20-million-unit-strong motorcycle market has three major players — Hero MotoCorp with a market share of 51.5%, followed by Bajaj Auto at 15.6% and HMSI at 15.5%.

Green panel rejects Bharat Coking Coal’s proposal to amend environment clearance
Posted on 23rd July 2018
The government’s green panel has disapproved amendments to the environment clearance sought by Bharat Coking Coal for its Jharia Coalfields in Jharkhand due to the absence of forest clearance, as per the official document. The company’s proposal was to amend the existing environment clearance given for the cluster XI group of mines that has a peak production capacity of 6.6 million tonnes per annum (MTPA) and Moonidih water capacity of 1.6 MTPA.

Customise your car: Tata Motors to let buyers configure their Harrier SUVs
Posted on 23rd July 2018
Tata Motors will soon shift gears to “Do it Yourself” (DIY) mode as a business strategy with the launch of Harrier, a five-seater sports utility vehicle.

As part of the plan, a digital configurator comprising a three-dimensional graphics-based front-end application (app) will allow customers to choose the power train, brakes, suspension types


» Post a FREE Classified Advertisement
Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.
Jobs in India India Real Estate Automobiles Matrimonials Beauty & Fitness

Add a comment for Mukesh Ambani-led RIL m-cap hits $100 billion, once again; shares surge 5% to all-time high
Please only use this form to enter comments on the above company. All comments are reviewed before they are displayed on the web site. Not all comments may be displayed. Check back with us to see if your comments have been displayed.
If you want us to email the comments posted by users, please Subscribe by email
Name*
Comments*
Security Code*
 

Be the first person to write a business review for Mukesh Ambani-led RIL m-cap hits $100 billion, once again; shares surge 5% to all-time high

Most Read News

LIC board gives approval to acquire 51% stake in debt-ridden IDBI Bank

L&T Finance Holdings Q1 net profit rises 71% to Rs 5.38 billion

Ashok Leyland slumps 14% on demand worries

TCS rides on AI, big data to pip Infosys in resurgent BFSI space

HomeIndustry AreclorMittal not eligible to bid for Essar Steel, Numetal tells NCLAT

More India News

  India Web Directory
Business Profiles
Automotive Directory
IT/ITES/BPO Directory
Hotel Directory
Health Directory
Business Directory
Gems & Jewellery
Education Directory
Real Estate Directory
Agriculture Directory
Logistics Directory
Yellow Pages
NRI Guide
Photo Galleries
Global Web Directory
*** FREE India Classifieds
Order Premium Listings
Submit a Site
Business Reviews
Home
About us
Link to us
Advertise
Contact us
Google Search Keywords: India Catalog, IndiaCatalog, India Web Directory
    © 1999 - 2018 IndiaCatalog.com
    All Rights Reserved
Privacy Statement