Reliance Industries Limited( RIL ) on Monday became the first Indian company to achieve a market capitalization of $ 150 billion when the stock market started trading at a rapid pace. Reliance Industries’ market capitalization rose by Rs 28,248.97 crore to Rs 11,43,667 crore ($ 150 billion) at the Bombay Stock Exchange on Monday.
The share price of the company, which holds a major weight in Bombay Stock Exchange’s flagship index Sensex, rose 2.53 per cent to a record high of Rs 1,804.10 in the initial round. At the National Stock Exchange, it rose 2.54 percent to an all-time high of Rs 1,804.20.
Reliance Industries Limited had earlier on Friday became the first Indian company to cross the market capitalization figure of Rs 11 lakh crore. After the company’s chairman Mukesh Ambani announced that the company dealing with oil-to-telecom sector has become completely debt-free, the company’s share in the market rose by more than six per cent and its market capitalization reached a figure of Rs 11 lakh crore.
Mukesh Ambani said that the company has raised Rs 1.69 lakh crore during the last two months through rights issue and sale of partial stake to major global investors, after which the company became pure debt free. The company has raised a total of Rs 1.69 lakh crore by selling less than a quarter of its stake to various global investors and raising Rs 1.15 lakh crore through rights issue and Rs 53,124.20 crore through rights issue. The company’s stock has climbed over 19 per cent so far this year.