RIL m-cap zooms past Rs 2L cr
India’s most valued firm Reliance Industries (RIL) notched a new high on Tuesday with its market cap crossing Rs 2,00,000 crore (intra-day). The scrip closed at Rs 1,415 after touching an all-time high of Rs 1,445 on the Bombay Stock Exchange (BSE), even as the Sensex fell 150 points. RIL became the third Indian company to cross the Rs 2,00,000-crore mark. The company’s market cap touched Rs 2,00,318 crore (intra-day) but closed low at Rs 1,97,119 crore. Two other companies who have reached these levels in the past are
ONGC
Wipro
RIL replaced ONGC, which also had achieved the Rs 2,00,000-crore level in market cap last year but has since fallen below the mark to become the second-most valued firm. ONGC’s market cap stands at around Rs 1,89,000 crore. Bharti Airtel is the third-most valued firm with market cap of Rs 1,51,000 crore.
A total of eight companies have crossed the Rs 1,00,000 crore-mark, which include Infosys, TCS and state-run NTPC. Anil Ambani group firm Reliance Communications RCoM recently crossed the Rs 1,00,000 crore market cap and is currently ranked eighth in the valuation list.
On January 18, 2006, RIL had a market cap of Rs 96,633 crore when the demerger came into effect, hiving off financial services, telecom and energy businesses in favour of Anil Ambani Group. Effectively, the market cap of RIL has more than doubled since then.
With Tuesday’s development, the wealth of Mukesh Ambani and RIL promoter group companies exceeded Rs 1,00,000 crore. The family and associates hold 50.62% in RIL.
Industry circles were also abuzz with the rumour that US oil company Chevron was likely to pick up a stake RIL’s KG basin assets and that it could increase its stake in RPL to 29%. The rumours have been sparked off by a scheduled meeting on Friday between the visiting Chevron chief executive David O’Reilly and RIL chief Mukesh Ambani. The RIL board is also reviewing its capital expenditure plan to fund its oil and gas exploration and production business and other emerging businesses like retail on Saturday.
The RIL board will meet on Saturday to review the decision to raise $2 billion to finance the capex of its oil and gas exploration and production business. The borrowings would be done by way of syndicate loans, non-convertible debentures, convertible debentures, ECBs, FCCBs, preference shares, warrants or any other instruments, RIL said in a statement.
ONGC
Wipro
RIL replaced ONGC, which also had achieved the Rs 2,00,000-crore level in market cap last year but has since fallen below the mark to become the second-most valued firm. ONGC’s market cap stands at around Rs 1,89,000 crore. Bharti Airtel is the third-most valued firm with market cap of Rs 1,51,000 crore.
A total of eight companies have crossed the Rs 1,00,000 crore-mark, which include Infosys, TCS and state-run NTPC. Anil Ambani group firm Reliance Communications RCoM recently crossed the Rs 1,00,000 crore market cap and is currently ranked eighth in the valuation list.
On January 18, 2006, RIL had a market cap of Rs 96,633 crore when the demerger came into effect, hiving off financial services, telecom and energy businesses in favour of Anil Ambani Group. Effectively, the market cap of RIL has more than doubled since then.
With Tuesday’s development, the wealth of Mukesh Ambani and RIL promoter group companies exceeded Rs 1,00,000 crore. The family and associates hold 50.62% in RIL.
Industry circles were also abuzz with the rumour that US oil company Chevron was likely to pick up a stake RIL’s KG basin assets and that it could increase its stake in RPL to 29%. The rumours have been sparked off by a scheduled meeting on Friday between the visiting Chevron chief executive David O’Reilly and RIL chief Mukesh Ambani. The RIL board is also reviewing its capital expenditure plan to fund its oil and gas exploration and production business and other emerging businesses like retail on Saturday.
The RIL board will meet on Saturday to review the decision to raise $2 billion to finance the capex of its oil and gas exploration and production business. The borrowings would be done by way of syndicate loans, non-convertible debentures, convertible debentures, ECBs, FCCBs, preference shares, warrants or any other instruments, RIL said in a statement.
Labels: Ril market cap
posted by SY at 1:09 PM
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