Reliance Industries Reaches yet Another Mile Stone

Thu Nov 28 2019 16:08:04 GMT+0530 (IST)

The much talked about Reliance Industries Limited (RIL), led by the richest Indian Mukesh Ambani has created a history and looks like no other company can break the record in the coming future very soon.

The Reliance Industries have touched Rs 10 lakh crores in market capitalisation which became possible with the company shares reaching all-time highest Rs 1,581 per piece.

The Market capitalisation was very near to Rs 10 lakh crore mark for many days which finally made an impossible possible. The shares of the company have risen by 0.70 percent during the early trade and at last, surpassed the Rs 10 lakh crores.

Reliance performance in the stock market improved post-Ambani's announcement on his plans to cut short the net debt of the company to zero in the coming 18 months. This will be done by the sale of his stake in oil and chemical business to Saudi Aramco.

Interestingly, Reliance has become the first-ever Indian company to reach the market capitalisation of Rs 9 lakh crore, recently.