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Reliance Industries becomes the First Indian Firm to hit record high valuation at Rs 13.67 Lakh Crore.

Reliance Industries Limited (RIL) has climbed up the ladder to become the most valued company in
the nation. The company spiked more than 2 per cent on Monday by hitting the market valuation for
Rs 13.67 Lakh Crore. At morning deal, on the BSE, Reliance Industries (RIL) shares rose by 2.45 per
cent to Rs 2,198.

It is during this time, it almost reached the figure of Rs 14 lakh crore. Further
increase in shares helped Reliance retain its position as one of the highly sought after and valued
company. As on today, it is the only Indian company to have a double-digit lack of crore market value in
terms of rupees.

National Stock Exchange

On the National Stock Exchange (NSE) also, it raised by 1,804.20 during the day which later on closed
at 2.54 per cent lower that is 1,752.50. Shares of RIL had also jumped nearly 3 per cent on Thursday
and as on today it’s price is valued at Rs 2,185.10.

In term of market valuation, next in line is software giant TCS with a market capitalisation of Rs 8.27
lakh crore and then country’s largest bank HDFC, with Rs 6.05 lakh crore, both calculated at
Monday’s intraday highs. But as it is evident, Reliance Industries is far ahead of them.

The Indian multinational conglomerate had nabbed more than Rs 1.5 lakh crore since April by selling
one-third of its stakes in its digital arms, Jio platform, to internet giant investors including Google
and Facebook. Also, Ambani declared that RIL has become net-debt free after it successfully
managed to raise a record of Rs 1.69 lack crore from global investors in under 2 months. As on
March 31, 2020 RIL had a net debt of Rs 1,61,035 crore.

Further deals which contributed to the company’s stock was selling 2.32 per cent stake in the digital unit to a
Public Investment Fund of Saudi Arabia for Rs 11,367 crore. The company’s partly paid-up shares
surged 8.77 per cent to close at Rs 1,284.50 on the BSE.

Reliance is the largest company in India measured by revenue after it recently surpassed Indian Oil
Corporation (IOC). It is also the largest publicly traded company in India by market capitalisation. It is
the highest income tax payer in the private sector in India and also accounts for 5% of the government’s
total revenue from customs and excise duty. Reliance is spread in the vicinity of energy, textiles,
natural resources, petrochemicals, retail and telecommunication and now is paving its way to being the
top conglomerate company in the world.