Reliance Industries Ltd. (RIL) saw a nearly 2% increase in its shares on Tuesday, making the oil-to-telecom giant the first listed company to surpass the Rs 20 lakh crore market capitalization threshold. As the session went on, the Mukesh Ambani-led company crossed the 20 lakh crore threshold, fetching a valuation of Rs 19,93,881.61 crore.
RIL's stock increased 1.8% on the BSE, reaching a peak of Rs 2,957.80. Jio Financial Services Ltd (JFS) is the new name of Reliance Industries' financial services division, which underwent a recent separation. The amalgamated company has a market capitalization of Rs 1,70,331.55 crore as of the last count and is listed on stock exchanges. Mukesh Ambani's wealth increased to $109 billion with the recent rise in RIL m-cap, the main company of the Reliance group, up $12.5 billion in 2024 alone. At present, he stands as the wealthiest Indian and the eleventh richest globally.
In the previous ten years, RIL has effectively transitioned from being a heritage oil and gas company to an enterprise that is focused on the future, including digital services and retail. BNP Paribas stated in a note dated February 8 that RIL is the market leader in telecoms and has invested substantially more in 5G than its competitors.
It further said, "We believe that RIL is in a good position to gain from both the anticipated rise in pricing and India's growing need for data. Its retail division is still adding stores at a rapid rate. Along with increased realization and the beginning of additional production from the KG-D6 gas fields, the upstream O&G industry saw a dramatic reversal. Though further information is still needed, we believe RIL's new green energy businesses—solar, batteries, fuel cells, and hydrogen - look promising.”
