Ambani's Reliance Industries Becomes First Indian Company to Reach ₹20 Lakh Crore Market Cap

Reliance Industries, led by Mukesh Ambani, made history on February 13th, 2024, becoming the first Indian company to ever reach a market capitalization of ₹20 lakh crore (approximately $27 billion USD). This achievement was fueled by a 1.89% rise in their stock price, hitting a new 52-week high of ₹2957.80 on the BSE.

Several factors contributed to this milestone:

  • Strong Financial Performance: Reliance Industries has shown consistent financial growth across its diverse businesses, spanning oil & gas, telecommunications, retail, and digital services.
  • Recent Demerger: The demerger of their financial services arm, Jio Financial Services, further boosted investor confidence, with the new company currently boasting a market cap of ₹1.70 lakh crore.
  • Positive Market Sentiment: Broader market trends also played a role, with both Sensex and Nifty gaining ground.

This achievement signifies Reliance's position as a leading player in the Indian economy and potentially paves the way for further growth and expansion.

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