market capitalisation: RIL m-cap crosses Rs 20 lakh crore, company world’s 48th most valuable

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Reliance Industries became the first Indian company to reach Rs 20 lakh crore in market capitalisation. The energy-to-telecom conglomerate’s market value stood at Rs 20.04 lakh crore ($238.7 billion) on Wednesday, catapulting it into the list of world’s most valuable corporations.

Surpassing behemoths like Pepsico, Novartis, Industrial and Commercial Bank of China, and SAP in the past week, RIL holds the 48th position currently in the list of the most-valuable companies in the world.

It is now behind Netflix by a billion dollars. At home, the second-most valuable company Tata Consultancy Services is valued at Rs 15 lakh crore, followed by HDFC Bank at Rs 10.51 lakh crore.

r1Agencies

Following the 28% run-up in RIL shares in the last three months as against the 12% rise in the Nifty, the net worth of the company’s chairman & founder Mukesh Ambani jumped $13.4 billion so far this year to $109.8 billion, according to the Bloomberg Billionaires list.

r2Agencies

Ambani is now 11th wealthiest individual in the world, above Gautam Adani of the Adani group and Mexico’s richest person, Carls Slim. In July last year, RIL demerged its financial business into Jio Financial and listed it separately. Jio Financial is currently valued at Rs 1.73 lakh crore.

r3Agencies

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