Reliance becomes the first Indian company to cross Rs 13 lakh crore mark

The good news continues to pour into Mukesh Ambani’s office. On Thursday, July 23, the market capitalization of Reliance Industries Limited (RIL) crossed the Rs 13 lakh crore mark. RIL, thus, becomes the first Indian company to achieve this landmark. This happened after the RIL’s stock rose as much as 3.73% to touch the all-time high of Rs 2,078.90 per share.

At market closing, Reliance Industries’ share price stood at Rs 2,060.65, up 2.82%, while the m-cap was above Rs 13.06 lakh crore.

Earlier on Wednesday, July 22, RIL’s Chairman and Managing Director (CMD) Mukesh Ambani became the world’s fifth-richest person. Mukesh Ambani surpassed American investor Warren Buffett to become the fifth richest person on Forbes’ real-time ranking of billionaires.

With a total wealth of $77.3 billion, on Thursday, Mukesh Ambani was holding on to the fifth spot, positioned below Facebook founder Mark Zuckerberg.

Reliance Industries, in the last couple of months, disposed of nearly 33% of its stake in its digital services arm, Jio Platforms, to prominent investors including internet giants Facebook and Google. The company also raised funds worth Rs 2,12,809 crore in less than three months through the deals and rights issue worth Rs 53,124 crore.

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