Mumbai: The market capitalisation (m-cap) of Reliance Industries Limited (RIL) crossed Rs lakh crore on Tuesday. Thus, the oil-to-telecom conglomerate lead by Mukesh Ambani became the first Indian company to achieve this historic milestone.
The shares of RIL hit a 52-week high of Rs 2,958, up 2 per cent on the Bombay Stock Exchange (BSE). It has risen 39.54% in the past 12 months.
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The conglomerate reached Rs 1 lakh crore in market cap in August 2005, Rs 2 lakh crore in April 2007, Rs 3 lakh crore in September 2007, and Rs 4 lakh crore in October 2007. And, since then, it took 12 years to reach Rs 5 lakh crore in July 2017, while the market value reached Rs 10 lakh crore in November 2019, and Rs 15 lakh crore in September 2021. The Rs 20-lakh-crore milestone was achieved in over 600 days.
This recent surge in RIL’s market cap has significantly improved Mukesh Ambani’s fortunes. Mukesh Ambani’s wealth surged to $109 billion, marking a $12.5 billion increase in 2024 alone. He currently holds the title of the richest Indian and ranks 11th globally, according to the Bloomberg Billionaire index.
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