Reliance Industries becomes 1st Indian company to hit Rs 19-trillion m-cap
- IBEF
- April 28, 2022
Mr. Mukesh Ambani's Reliance Industries Ltd (RIL) became the first Indian listed firm to have a market capitalisation of Rs. 19 trillion (US$ 250 billion). In an otherwise sluggish market, the stock set a record high of Rs. 2,827.10 (US$ 36.91), up 2% on the BSE in intraday trade.
RIL is a well-diversified commercial entity with a presence in refining or marketing petrochemicals (O2C), oil and gas exploration, retail, digital services, and media, making it one of India's largest conglomerates. O2C and oil and gas contributed 50% of EBITDA in the first nine months of FY22 period, whereas retail, digital, and others contributed 10%, 34%, and 6%, respectively.
Reliance Industries is running on all cylinders since its petchem sector is booming thanks to a spike in oil and gas prices, with Singapore's gross refining margin (GRM) at an all-time high. Its telephone business is unaffected by geopolitical tensions or inflation, whereas its retail sector is looking for synergies. It is constantly expanding its path in the renewable energy market, which provides the organisation with more prospects.
RIL and Abu Dhabi Chemicals Derivatives Company RSC (TA'ZIZ) inked a shareholder agreement for a chemical project in Abu Dhabi's Ruwais. The development is significant because it will concentrate on the manufacturing of chlor-alkali, ethylene dichloride (EDC), and polyvinyl chloride (PVC), which are all used in a variety of industrial applications.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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