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Reliance - Shanmugam IAS academy in coimbatore
Reliance

RELIANCE INDUSTRIES LTD

What’s in news?

  • Mukesh Ambani’s Reliance Industries Limited (RIL) became the first Indian firm to touch a market capitalisation (m-cap) of Rs 10 lakh crore.
  • Tata Consultancy Services, the second most valued firm on the bourses, has a market cap of Rs 7.81 lakh crore.

Key Data’s:

  • Mukesh Ambani-led Reliance Industries (RIL) became the first Indian firm to cross the market capitalisation of ₹10 lakh crore
  • Its shares touched a record high of Rs 1,581 per piece on Thursday
  • Last month, RIL became the first Indian company to cross Rs 9 lakh crore m-cap
  • Ambani, who owns some 42% stake in RIL, is now ranked 12th richest in the world and Asia’s richest with a personal wealth of $60.7 billion.
  • RIL could become the first Indian company to reach $200 billion in market capitalization in 24 months driven mainly by its
    • new commerce initiatives,
    • SME enterprise play,
    • fibre broadband and
    • digital initiatives.
  • RIL has widened the gap with Tata Consultancy Services (TCS), India’s second most valued firm as TCS market capitalisation stood at ₹7,81,772 crore with 1.5% increase in its share price to ₹2,083.4.

About RIL:

  • Indian multinational conglomerate company
  • Headquartered – Mumbai, Maharashtra
  • Founder – Dhirubhai Ambani
  • Founded on –  8 may 1973
  • RIL was also the first company to reach Rs 8 lakh crore mark in August last year. It was also the first company to hit the $100 billion mark in market-cap in 2007, a feat it repeated last July.

About TCS:

  • Tata Consultancy Services Limited is an Indian multinational information technology service and consulting company
  • Headquartered in Mumbai, Maharashtra, India. TCS is the second largest Indian company by market capitalization.
  • Founded on 1968
  • It is a subsidiary of Tata Group and operates in 149 locations across 46 countries.
  • Tata consulting services is now placed among the most valuable IT services brands worldwide.

Links to note:

https://www.iasipstnpsc.in/water-week/

https://economictimes.indiatimes.com/markets/stocks/news/ril-becomes-first-indian-company-to-hit-rs-10-lakh-crore-market-cap/articleshow/72270982.cms

https://www.indiatoday.in/business/story/mukesh-ambani-led-reliance-industries-becomes-first-indian-company-to-hit-rs-10-lakh-crore-m-cap-1623230-2019-11-28

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