Reliance Industries Limited (RIL), the Indian multinational conglomerate, has been making waves in the global market. As of February 13, 2024, it ranks 44th among the world’s most valuable companies by market capitalisation, boasting a market cap of Rs 19.8 lakh crore (approximately $238 billion). This is a remarkable feat for an Indian company, and it highlights Reliance’s growing stature in the global business landscape.
A Record-Breaking Surge
The stock of RIL soared by 1.89% on the Bombay Stock Exchange (BSE), hitting a fresh 52-week high of Rs 2957.80. This remarkable surge in stock value has led to a staggering increase in RIL’s market value by Rs 1 lakh crore in just the past two weeks.
A Stellar Year of Growth
The year has proven to be exceptionally fruitful for RIL, with its share price witnessing an impressive 14% increase so far. This Mumbai-based conglomerate, spanning sectors from oil to telecommunications, has emerged as a key driver of wealth creation in the Indian stock market.
RIL’s Journey to Dominance
RIL’s ascent to the summit of market capitalization has been a journey marked by resilience and innovation. From achieving a market capitalization of Rs 1 lakh crore in August 2005 to crossing the Rs 10 lakh crore mark in November 2019, RIL’s trajectory has been nothing short of remarkable.
Reliance’s Rise to the Top
So, how did Reliance achieve this impressive ranking? Here are some key factors:
Global Recognition
Rank | Name |
Market Cap (in billion $) |
Country |
42 | Netflix | 241.42 | United States |
43 | International Holding Company | 238.92 | United Arab Emirates |
44 | Reliance Industries | 238.84 | India |
45 | ICBC | 238.66 | China |
46 | Pepsico | 234.49 | United States |
Source: companiesmarketcap
Financial Resilience
Despite the ever-evolving market dynamics, RIL has continued to deliver robust financial results, meeting market expectations. In Q3FY24, RIL reported a profit after tax of Rs 19,641 crore, showcasing a slight decrease of 1.2% QoQ but a commendable increase of 10.3% YoY.
Overall, Reliance Industries is a remarkable success story. The company’s rise to the top 50 most valuable companies in the world is a testament to its diversification, digital transformation, and strong leadership. As Reliance continues to grow and expand, it will be interesting to see what the future holds for this Indian giant.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
Published on: Feb 13, 2024, 5:58 PM IST
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