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.
- 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.
- 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.
- 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.
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