Mukesh Ambani-led Reliance Industries becomes first Indian company to go past $200-billion market cap; shares surge 6%

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The record jump in RIL’s shares to Rs 2,343.90 was following a number of announcements of investment in RIL's retail arm

Mukesh Ambani-led Reliance Industries Ltd (RIL) has become the first Indian company to touch $200 billion market cap on Thursday after its shares rose to record high.

A series of investments in its subsidiaries also helped RIL achieve the feat.

Shares of RIL surged over 6 percent on BSE to a new record high of Rs 2,343.90 on Thursday taking the market values of the company to $200.68 billion.

It points out that the market capitalisation of Reliance Industries rose to a record Rs 14,14,764.90 crore or $192.85 billion.

RIL’s shares witnessed a sharp jump of nearly 157 percent since mid-March this year, reported The Economic Times. The record peak in the market cap of Reliance Industries is driven by its retail and telecom operations.

When RIL’s market values went past $200 billion, it was about twice the size of the next biggest Indian company, TCS, which has an m-cap of $119 billion.

The jump in RIL’s shares value was following a number of announcements of investment in Reliance Retail.

On Wednesday, the US-based Silver Lake said it would invest Rs 7,500 crore in Reliance Retail Ventures Ltd (RRVL). This was the second billion dollar investment announcement by Silver Lake in a Reliance Industries subsidiary after the $1.35 billion investment in Jio Platforms announced earlier this year.

Earlier, reports said that Saudi Arabia’s Public Investment Fund (PIF), Abu Dhabi-based Mubadala Investment Company, Abu Dhabi Investment Authority (ADIA), L Catterton and KKR might buy stakes in Reliance Retail Ventures.

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