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RIL market value higher than combined market-cap of top 3 private banks

Reliance Industries has become net debt free last week after it closed the last Jio Platforms' deal which was with Saudi Arabia's Public Investment Fund.

June 22, 2020 / 03:06 PM IST

The market-cap of Reliance Industries on June 22 surpassed the combined market value of top three private sector banks.

The billionaire Mukesh Ambani-owned company's stock has been gaining currency since it started announcing deals with tech companies and marquee investment firms. It crossed m-cap of Rs 11 lakh crore.

The stock touched record high of Rs 1,804.10 today, amounting to m-cap of Rs 11,43,691.76 crore, or $150 billion. It gained a whopping 108 percent from its March lows and retained the top slot among Nifty50 stocks, doubling shareholders' money in just three months.

At 12.30 pm, it was trading at Rs 1,768, up 0.48 percent with a market cap of Rs 11,20,774.83 crore, which was much higher than combined market value of Rs 10,73,613.94 crore of top three private sector banks - HDFC Bank, ICICI Bank and Kotak Mahindra Bank.