Reliance Industries (RIL) become the first Indian company to cross the ₹6-lakh crore mark in market capitalisation as its shares touched a 52-week high of ₹974.5 following the announcement of robust Q3 profits on 26 Januart 2018.
RIL shares rose 4.5% to ₹971.2 valuing the company at ₹6,15,150 crore. RIL is owned 40% by its chairman Mukesh Ambani, making him the richest Indian with personal wealth of $40.7 billion and the 20th richest globally, according to Bloomberg’s billionaire index.
Energy projects are driving upside surprises, telecom monetisation is accelerating, and capex intensity continues to fall. Oil in a sweet spot, leveraging counter cyclical downstream investments, and consolidation in telecom set the stage for surprises in 2018.
India’s largest software exporter, Tata Consultancy Services follows RIL with market capitalisation of ₹5,95,946 crore. The market cap of BSE listed firms stood at ₹1,55,48,572 crore at close of trade on 22 January 2018 as the Sensex gained 286 points to close at a record high of 35,798.