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
Rupee opens 5 paise higher at 71.29 against US dollar as oil prices slip
Posted on 20th February 2019
Rupee on Wednesday opened 5 paise higher at 71.29 against the US dollar amid drop in crude oil prices. The domestic unit weakened by 11 paise to end at 71.34 against the greenback on Monday, amid firming crude oil prices and persistent foreign fund outflows.

Money market was closed on Tuesday on the account of Chhatrapati Shivaji Jayanti.


IOC signs $1.5 bn deal to buy US crude oil
Posted on 19th February 2019
In the first-ever deal by an Indian company, Indian Oil Corp (IOC) Monday said it has signed an annual deal worth USD 1.5 billion to import 3 million tonnes of crude oil in the fiscal year beginning April 1.

This is the first time any Indian refiner has signed an annual contract since the country in 2017 began importing crude oil from the US.


SBI waives outstanding loans for 23 CRPF martyrs
Posted on 19th February 2019
The country’s largest lender State Bank of India has initiated slew of measures, including waving off outstanding loans of 23 CRPF soldiers martyred in a terrorist attack in Pulwama district of Jammu and Kashmir.

Last week, 40 CRPF personnel were killed and five injured in one of the deadliest terror strikes in J&K.


Sensex rebounds over 100 pts; Nifty nears 10,700
Posted on 19th February 2019
The BSE benchmark Sensex recovered over 100 points on Tuesday, led by strong buying by domestic institutional investors amid positive global cues.

The 30-share index was trading 124.21 points, or 0.35%, at 35,622.65. Similarly, the 50-share NSE Nifty rose 38.90 points, or 0.37 per cent, to 10,679.85.


Identity crisis! Data companies fuelling Aadhaar private debate, suspects Trai chief
Posted on 19th February 2019
Internet companies that have built their businesses using public data are likely to have created the privacy threat debate around the country’s unique digital ID Aadhaar, Trai chairman RS Sharma said on Monday.

“My suspicion, I will have to prove that, but based on circumstantial evidence, we think that many of data companies are behind the issue. They want to create their own identity system,” Sharma said at ‘International Colloquium on Ethics and Governance of Autonomous AI Systems’.


» 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

At least 37 CRPF personnel killed in suicide blast in J&K's Pulwama, Jaish-e-Mohammed claims responsibility

Bharat Dynamics soars 16% on robust December quarter results

Larsen & Toubro's hydrocarbon arm get order worth over Rs 7,000 crore in Algeria

Tata Tiago crosses 2 lakh sales milestone since its launch in 2016

NTPC threatens to cut power supply to Jammu and Kashmir over dues of Rs 2,000 crore

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 - 2019 IndiaCatalog.com
    All Rights Reserved
Privacy Statement