RIL and its partly-paid up stocks settle lower after hitting new highs; overall m-cap tops Rs 16 lakh crore
On September 10, RIL became the first Indian company to surpass a market capitalisation of $200 billion. The oil-to-telecom conglomerate now ranks 44th in terms of valuations globally.
September 14, 2020 / 04:35 PM IST
Shares of Reliance Industries (RIL) closed 0.71 percent lower at Rs 2,302.35 while those of Reliance Industries Partly Paid (PP) slipped 0.75 percent to close at Rs 1,409.50 on BSE on September 14.
The market-capitalisation (m-cap) of RIL now stands at Rs 15,56,857.73 crore while that of RIL PP stock is at Rs 59,569.26 crore. The cumulative m-cap of RIL and RIL PP now stands at about Rs 16.16 lakh crore.
Shares of RIL and RIL PP hit their record high of Rs 2,360 and Rs 1,461.60, respectively, in intraday trade today.
RIL became the first Indian company to surpass the market capitalisation of $200 billion on September 10. The oil-to-telecom conglomerate now ranks 44th in terms of valuations globally.
Read more: With a $200 billion m-cap, RIL now 44th biggest firm globally
The company is expanding its retail business and lining up a posse of global investors to take on rivals such as e-commerce giant Amazon and Walmart-owned Flipkart in India’s fast-growing online retail market.
Private equity giant Silver Lake Partners will invest Rs 7,500 crore in the retail unit of India’s Reliance Industries Ltd (RIL) Reliance Retail.
This investment comes close on the heels of RIL's minority stake purchase in Kishore Biyani-led Future Group through its subsidiary Reliance Retail.
Read more: Reliance Retail-Silver Lake Deal: 5 key things to knowDisclosure: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.