Categories: Business

RIL crosses Rs 13 lakh crore market valuation mark, Mukesh Ambani Climbs to World's Fifth Richest. Mukesh Ambani included in the list of top 5 wealthy, RIL's market capitalization crosses Rs 13 lakh crore


Mukesh ambani with Nita Ambani

New Delhi. Reliance Industries' market capitalization (MMCAP) rose sharply to reach Rs 13.17 lakh crore ($ 176.4 billion) on Wednesday. It is calculated on the basis of market values ​​of the company's paid-up and partially paid-up shares. With this, Mukesh Ambani, the head of Reliance Industries, has been ranked fifth in Forbes' real-time list of wealthy individuals with a net worth of $ 75 billion.

Just two weeks ago, on July 6, 2020, the company had a market capitalization of $ 160 billion. The company said in a statement on Wednesday that Reliance Industries' mcap in rupees has increased by Rs 10 lakh crore in the last six years. Out of this, Rs 4 lakh crore has been raised in the last 10 months. The company's fully paid-up share on the National Stock Exchange (NSE) stood at Rs 2004.0 per equity on Wednesday and rose 1.65 per cent. This brought the company's market capitalization to Rs 12.7 lakh crore (about $ 170.2 billion).

In addition, the company's partially paid-up share is listed separately under 'Reliance PP'. It crossed the Rs 1,100 mark for the first time, closing 2.2 per cent higher at 1,106.6 on Wednesday on the NSE. This led to an MCAP of Rs 42.26 crore partially paid-up share of Rs 46,765 crore (about $ 6.26 billion). Based on this (gross paid-up shares + partially paid-up shares), the company's gross market capitalization has reached Rs 13.17 lakh crore ($ 176.4 billion).

RIL's market capitalization crossed $ 150 billion on June 19, 2020 and it rose to over $ 25 billion in just one month. With this increase in market capitalization, according to Forbes magazine, Mukesh Ambani has come in the fifth position in the list of rich people with assets of $ 75 billion.

First on the list is Amazon's Jeff Bezos with $ 185.8 billion. Bill Gates ($ 113.1 billion), LVMH's Bernard Arnold & Family ($ 112.0 billion), Facebook's Mark Zuckerberg ($ 89 billion) are in second, third and fourth positions respectively. Warren Buffet of Berkshire Hathaway is sixth with $ 72.7 billion in assets. Reliance PP was issued as part of the recently concluded rights issue. It has given investors a return of 3.5 percent in just one month. The issue closed on June 4, 2020. In this, the investors had to pay Rs 314.25 for each partially paid share. Reliance PP shares were listed on the stock market on 15 June 2020. Reliance Industries recently raised a total of Rs 2,12,809 crore through joint issue of rights issue and joint investment in Jio platforms and BP's investment.

This post was published on July 22, 2020 9:52 pm

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