“Reliance Industries Overtakes Netflix and Accenture, Gains ₹1 Trillion Every Year”
In a historic milestone for India’s corporate landscape, Mukesh Ambani-led Reliance Industries Limited (RIL) has soared past the ₹20 lakh crore mark in market capitalization, solidifying its position as the country’s most valued company. This achievement, unveiled earlier this week, marks a significant moment as RIL becomes the first Indian company to breach the ₹20 trillion valuation threshold, underlining its dominance in the market.
In a historic milestone for India’s corporate landscape, Mukesh Ambani-led Reliance Industries Limited (RIL) has soared past the ₹20 lakh crore mark in market capitalization, solidifying its position as the country’s most valued company. This achievement, unveiled earlier this week, marks a significant moment as RIL becomes the first Indian company to breach the ₹20 trillion valuation threshold, underlining its dominance in the market.
The surge in market capitalization propelled Reliance Industries to the 49th position among the world’s top 50 companies by market capitalization, surpassing renowned global entities like Cisco Systems, PepsiCo, and Shell Plc. Moreover, with the inclusion of Jio Financial Services’ market capitalization following its demerger from its parent company last year, Reliance now claims the 43rd spot among the world’s most valued companies.
RIL’s Chairman, Mukesh Ambani, expressed his optimism during an address to Reliance employees in December 2023, projecting the company’s trajectory towards becoming one of the top 10 conglomerates globally. This latest feat adds to Reliance’s track record as the top wealth creator on Dalal Street, consistently augmenting its market valuation by an average of ₹1 lakh crore annually over the past two decades.
In dollar terms, Reliance Industries currently commands a valuation exceeding $241 billion, standing as the sole Indian representative among the world’s 50 most valued companies. In stark comparison, the second-largest Indian company, TCS, ranks 66th on the list, boasting a market capitalization of ₹15 lakh crore.
Anticipation mounts as Reliance Industries gears up for a monumental merger with Disney Star’s India division, poised to reshape the landscape of India’s media industry. This strategic move is expected to bolster Jio’s standing in the media sector significantly. Moreover, shareholders of both Reliance and Jio are poised to reap substantial rewards from this eagerly awaited merger, provided all proceedings unfold as planned.
In a groundbreaking collaboration, Reliance is in advanced talks to acquire approximately 30 percent stake in Tata Play from Walt Disney, marking the first-ever partnership between Mukesh Ambani’s conglomerate and the esteemed Tata Group. The prospective merger holds the promise of further consolidating Reliance’s foothold in India’s media landscape, presenting an opportunity for both entities to leverage their strengths for mutual growth.
Reliance Industries remains steadfast in its pursuit of achieving the coveted trillion-dollar valuation, poised to potentially become the first Indian company to attain this milestone. However, stiff competition looms from formidable contenders such as HDFC Bank and Bajaj Finance, intensifying the race towards this historic achievement.
As Reliance continues its upward trajectory, fueled by ambitious growth strategies and strategic alliances, all eyes remain firmly fixed on its journey towards unparalleled success in the global corporate arena.
Sources By Agencies
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