Reliance Industries, led by Mukesh Ambani is now the 51st most esteemed firm in terms of business capitalisation. The oil-telecom-to-retail major has overpassed Rs 12 lakh crore in market value matching the first listed Indian entity to achieve the feat.
On Monday, RIL’s stock reached an intraday record high of Rs 1,947 and scored a market cap of Rs 12,34,282 crore. It settled at record closing high at Rs 1,939, up 3.22 per cent on the BSE.
Saudi Arabia’s Aramco exceeded the list with the market cap of $1,784 billion, followed by Apple ($1,663 billion), Microsoft Corporation ($1,620 billion), Amazon ($1,596 billion), Alphabet ($1,052 billion).
Amongst the list of top 50 companies, 34 companies are from the United States and 9 of them are from the Asian region.
The Jio operator is at 9th position in Asia, followed by Tencent, Kweichow Moutai, TSMC, Samsung, Industrial and Commercial Bank of China, Ping An, China Construction Bank and Toyota Motor.
Reliance Industries recovered 123.5 per cent from its March 23’s low and was one of the key operators of Nifty50’s 44 per cent rally from those levels. Also, it is the only company in the Nifty50 that doubled in value from March lows.