Reliance Industries on 23 August 2018 became the first company to cross Rs 8 trillion in terms of market capitalisation (market cap), becoming the country’s most valued firm At 1:59 pm, RIL’s market capitalisation (m-cap) stood at Rs 8.01 trillion. The stock ended at Rs 1,266.90 on the NSE, up 1.6%, extending its gains over the past four trading days.
Thus far in the calendar year 2018, Mukesh Ambani-controlled RIL has outperformed the benchmark indices and rallied around 37%. In comparison, the S&P BSE Sensex has gained 12.53% during this period, data show. The company recently reported a 17.9% year-on-year (yoy) growth in consolidated net profit at Rs 94.59 billion in June quarter (Q1FY19). During the June quarter, its consolidated revenue grew 56.5% yoy at Rs 1,417 billion.
The company’s consumer businesses accounted for nearly 21% of consolidated segment EBITDA. Retail business revenues have more than doubled and EBITDA has trebled on a yoy basis. Jio added a record number of subscribers, highlighting the compelling technology and value proposition that Jio offers vis-à-vis other networks.