Reliance Industries Becomes 1st Indian company to Touch Market Cap of Rs. 10 Lakh Crore

Guwahati, November 28, 2019:

Reliance Industries Limited (RIL) has emerged as the first Indian company to reach a market capitalization (m-cap) pf Rs. 10 lakh crore following a rise of Rs. 1,581 per piece in its shares.

The shares rose 0.70 per cent in early trade to cross Rs. 10 lakh crore market cap on Thursday. As per reports, the RIL’s shares rose in the stock market after Mukesh Ambani’s announcement to cut the company's net debt to zero in the next 18 months through a series of measures.

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It may be mentioned here that the Reliance Industries Limited has adopted a few measures to increase the stakes. These include the stake sale in the company’s oil and chemical business to Saudi Aramco.

The RIL aims to achieve its target of zero net debt target in financial year 2021 as it is likely to receive Rs 1.1 trillion from Saudi Aramco and BP.

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Reliance Industries had recently become the first company to surpass a market capitalization of Rs. 9 lakh crore.

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