Reliance Industries, Led by Mukesh Ambani, Achieves Historic Milestone: First Indian Stock to Surpass Rs 20 Lakh Crore Market Cap

-
Disclaimer: This information is derived from publicly available news sources and has been rewritten for general informational purposes only. It is important to conduct your own due diligence and research before making any financial decisions or relying on the information provided herein.

What Happened:

India's most valuable company witnessed a significant surge in its shares, rising nearly 2% to achieve a new record high of ₹2,958. The company's shares have demonstrated strong performance since the beginning of 2024, with a year-to-date increase of over 13%.


Today's surge propelled the Mukesh Ambani-led conglomerate to become the first listed Indian entity to surpass the ₹20 lakh crore market capitalization milestone. Renowned as one of Dalal Street's foremost wealth generators, the Mumbai-based conglomerate has achieved several market cap milestones over the years. Reliance Industries Limited (RIL) initially reached the ₹1 lakh crore market cap milestone in August 2005, followed by the ₹10 lakh crore level in November 2019. With its current valuation of approximately ₹20 lakh crore, RIL maintains its position as India's most valuable firm, surpassing competitors such as TCS valued at ₹15 lakh crore and HDFC Bank at ₹10.5 lakh crore.

Mukesh Ambani's personal wealth has also experienced substantial growth this year, largely attributed to the company's performance in the stock market. In the previous month, he rejoined the elite group of centibillionaires, with his net worth estimated at around $109 billion according to Bloomberg's Billionaire Index.

Comments

Post a Comment

Best Blogs

IB Interview Questions: M&A : Level 1 M&A Questions

-
Image
1. Why do companies merge? While are many reasons that companies merge the underlying driver of most M&A deals to expedite growth and/or generate cost savings to create value for the owners of the business. When people say that M&A is an ‘art’ and a ‘science’, what does that mean? The science refers to the mechanical valuation methods (Comps, DCF, etc.), but the art is in making a judgment call on valuation based on the outputs of the various valuation methodologies. 2. Who can pay more when buying a company: a Financial buyer or Strategic buyer? Why? Strategic (i.e. corporate) buyers can typically pay more than Financial (i.e. Private Equity) buyers because strategic buyers typically have overlapping operations that can be removed post-merger to generate cost savings (i.e. Synergies). 3. When are sponsors and corporate buyers on equal footing? When a Financial buyer already owns a competing asset, they can generate synergies (which justifies a higher price) and thus are on mor...
Read more

Getting into Investment Banking: A Comprehensive Guide

-
Image
Introduction Breaking into investment banking (IB) is no small feat, whether you're pre-MBA or post-MBA, from a target or non-target school. While high GPAs and test scores are standard, they are often not enough to stand out. Here’s a strategic approach to help you embark on a successful investment banking career. 1. Network Extensively When your application lands at an investment bank, it’s usually reviewed by a small team of bankers responsible for recruiting from specific schools. Given the competitive nature of this field, networking is crucial. Why Networking Matters: Decision-making bankers are more likely to advocate for you if they know you. Especially vital for non-target school students. Engage with alumni and other connections at your target firms. How to Network: Start reaching out to analysts and associates a few months before core recruiting starts. Look for non-target alumni if you're from a non-target school; they often help each other out. Demonstrate Interest...
Read more