Reliance Industries becomes first Indian company to cross Rs 8 lakh crore market cap
Mukesh Ambani-led Reliance Industries on Thursday became the first Indian company to cross Rs 8 lakh crore market cap.
Mukesh Ambani-led Reliance Industries (RIL) on Thursday became the first Indian company to cross Rs 8 lakh crore market capitalisation, racing ahead of Tata Sons' crown jewel TCS by more than Rs 20,000 crore in valuation. The Reliance Industries' stock closed 1.86 per cent or 23.20 points higher at Rs 1,269 level on BSE today, taking its m-cap to Rs 8,04,691 crore. RIL stock has gained 37.85 per cent since the beginning of this year.
The market valuation of oil-to-telecom conglomerate crossed the $100-billion mark last month. A few days later, its m-cap surged past Rs 7 lakh crore, making it the second company after IT bellwether Tata Consultancy Services to achieve the coveted milestone. TCS had crossed the $100 billion milestone on April 23.
While RIL is the first homegrown major to achieve this feat, the aggregate market capitalisation of 15 Tata group companies comes to Rs 11.32 lakh crore. Also, the collective valuation of Deepak Parekh-led financial services behemoth HDFC Group had recently crossed Rs 10 lakh crore. This includes HDFC Ltd, HDFC Bank, HDFC Asset Management Company and HDFC Standard Life Insurance Company.
It's not just the shareholders who are reaping in the benefits of sky high valuations, promoters too have seen their wealth grow exponentially.
Ambanis own 47.35 per cent stake in RIL, compared to 71.92 per cent held by promoters of TCS. With today's hike in stock prices, the collective wealth of Ambani family has risen to Rs 3,81,021 crore.
The aggregate value of promoter holdings in 15 top Tata group companies has crossed $100 billion (Rs 7.03 lakh crore), thanks to the recent surge in TCS and Titan stocks and the depreciation witnessed in the Indian rupee. The Tata Trusts through the holding companies -- Tata Sons and Tata Industries -- control the promoter stake in group companies.
Edited By Karan Dhar