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November 25, 2020
KhabriBaba
Business

Reliance Industries Becomes First Rs 9 Lakh Crore Company

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Reliance Industries became the first company in the country with a market cap of Rs 9 lakh crore. The valuation rose to Rs 9.01 lakh crore with the company’s stock gaining 1.7% on Friday. Reliance reached a figure of Rs 8 lakh crore in August last year. Here too, it became the first company in the country. IT company TCS is second in the market cap. Its valuation is Rs 7.67 lakh crore.

Reliance stock gives a 27% return this year

Reliance is also the first private company in the country to earn a quarterly profit of Rs 10,000 crore. It was the first profit in the October-December quarter of 2018. Reliance stock continues to perform well after announcing quarterly results in January. This year the stock has given a return of 27%. The share price of Reliance Industries as of 31 December 2018 was Rs 1121. Now it comes to 1428 rupees. It is also a 52-week high.

5 records of reliance

October 2007: Became the country’s first company with a market cap of $100 billion
July 2018: After 11 years, again achieved a valuation of $100 billion
August 2018: Became the first company in the country with a market cap of Rs 8 lakh crore.
January 2019: India’s first private company with a quarterly profit of Rs 10,000 crore

October 2019: First company in the country with a valuation of 9 lakh crore rupees

Mukesh Ambani is the richest in Asia

Mukesh Ambani, chairman of Reliance Industries, has a net worth of $55.3 billion (Rs 3.86 lakh crore). Ambani became the richest in Asia last year, surpassing China’s Alibaba founder Jack Ma. Jack Ma’s net worth is $41.7 billion (Rs 2.96 lakh crore).

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