Reliance Industries Hits $150 Billion Market Valuation

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Reliance Industries Hits $150 Billion Market Valuation

On Monday, among all Indian firms, Reliance Industries became the first one to reach a market valuation of dollar 150 billion.

Initially the companies market valuation what’s rupees to 28248,97; cross which now jump to rupees 114 3667 crores that is Dollar 150 billion on the BSE.
A surge of 2.5 3% in the heavyweight stock was seen thus setting a record high of dollar 1804.10 on the BSE.

The company Rose by 2.54 % on the NSE thus setting an all-time record of dollar 180 4.20.

On Friday Reliance Industries became the first company of India to make a valuation mark of more than rupees 11 lakh crore in the market.

In the previous session, the company’s market valuation crossed Rs.11 lakh crore when its share price stood over 6%. happened after the company’s chairman Mukesh Ambani made an announcement that is oil to telecom conglomerate had become net debt-free.

As per the announcement, Reliance industries had become net debt free after raising Rs. 1.69 lakh crore. This record money was raised from global investors along with a rights issue that too within two months.

Reliance Industries raised ₹1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm’s digital arm, Jio Platforms, and another ₹53,124.20 crore through a rights issue in the past 58 days.

Taken together with last year’s sale of 49% stake in fuel retailing venture to BP Plc of UK for ₹7,000 crore, the total fundraised is in excess of ₹1.75 lakh crore, the company said.

As on March 31, 2020, Reliance industries was under a debt of Rs. 1,61,035 crore.

“With these investments, RIL has become net debt-free,” it said.
The company, on Thursday, said that it had sold a stake of 2.32% in its digital unit to Saudi Arabia’s Public Investment Fund (PIF) for ₹11,367 crore.

Till now, the stock of the company has gained over 19 per-cent.

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