- Companies like Exxon Mobil, PepsiCo, SAP, Oracle, Pfizer and Novartis left behind
- Reliance Industries becomes India’s first company to touch $ 210 billion market cap
- RIL beat PepsiCo and Pfizer, becomes world’s 40th most valued company
Reliance Industries beats Other Companies
Reliance Industries Ltd, the country’s largest company in terms of market capitalization, has now become the 40th most valuable company in the world. With this, Reliance Industries has become the first company in India to touch the market cap of $ 210 billion. According to market analysts, Reliance Industries is currently the 40th most valuable company in the world and is ahead of companies like Exxon Mobil, PepsiCo, SAP, Oracle, Pfizer and Novartis. RIL has also been among the top 10 most valuable companies in Asia.
60 billion dollar increase in 60 days
This is the first time that any Indian company has touched a market cap (market capitalization) of $ 200 billion. On June 19, 2020, Reliance crossed the market cap of $ 150 billion and has raised investor value by $ 60 billion in a short span of 60 days.
Constant increase in share price
The Reliance Industries stock reached its all-time record level of Rs 2,344.95 on the NSE intra-day on Thursday and closed at Rs 2,319, up 7.29 per cent at the end of trading. Reliance PP’s stock hit an upper circuit of 10 per cent on the NSE and closed at an all-time high of Rs 1,393.7. This brought the company’s market cap to Rs 15.45 lakh crore, or $ 210 billion, in intra-day. On September 10, 2020, RIL had a market cap of $ 208.3 billion.
Deal was done in Silver Lake and Retail
It is noteworthy that US-based Silver Lake Partners on Wednesday announced a billion-dollar investment in Reliance retail company Reliance Retail Ventures. This news gave wings to the company’s stock and touched a new level. The company’s shares have risen more than 47 percent this year.
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