RIL is the first company in the country to cross a market cap of Rs 9.57 lakh crore

(Commerce Rep) Mumbai, Ta. November 19, 2019, Tuesday

Oil-Telecom-Retail giant Reliance Industries Limited has become the first company to cross the market capitalization of Rs 9.57 lakh crore in listed companies in Indian stock markets.

Market share has crossed the Rs 9.57 lakh crore mark, with the company's share jumping to a new high of Rs 1,510 today. Global Broking giant Morgan Stanley has set a price target of Rs 2,000 on the stock of Reliance Industries.

Positive Asser today made a big purchase in Reliance Industries with a boom in telecom stocks after the telecom companies announced yesterday their hike in tariffs from December after telecoms rivals Vodafone Idea and Bharti Airtel.

The stock price today set a new record high of Rs.1514.95, with Reliance Jio not yet announced any increase against rival tariff hikes, with the market capitalization closing at Rs.1509.80 at the new high of Rs. 9,57,086.22 crore.

In addition, the company has a market capitalization of US $ 132.92 billion in US dollars, which is much higher than global giant Total SA's $ 130.66 billion and BP Plaque's $ 102.79 billion.

Thus, Reliance has outpaced both global giants. Reliance Industries stock price has risen 31% in the last one year. Bank of America Merrill Lynch also predicted that Reliance Industries would be the first Indian company to achieve market capitalization of $ 200 billion in the next two years.

For this, the three driving forces are expected to add $ 55 billion to the company's enterprise value through new commerce ventures, fixed broadband operations and digital initiatives. The stock's attractiveness has increased as a result of the company's phenomenal growth in telecom and retail business. Reliance Industries' retail business has grown seven times in revenue and 14 times in profit in the last six years.

Broking house Anand Rathi Securities, which gave a buy-call for Rs 1,610 target on shares of Reliance Industries, has expressed confidence that the company will be able to achieve 15% annual growth in the next five years by strengthening its existing and new business engines. Along with this, Reliance Industries has shown strong interest in strategic and financial investors in its Geo and Reliance retail businesses.

Meanwhile, Reliance Jio is planning to launch enterprise broadband services and broadband for its other incoming engines like IoT, home broadband services, small and medium businesses.

The company will start earning revenue from these businesses by FY 2020. In October, the company approved the establishment of a wholly owned subsidiary for its digital platform debut.

Reliance is going to invest Rs 1,08,000 crore in subsidiary through Optionally Convertible Preference Shares (OCPS), while Reliance Jio Infocomm (RGIL), a subsidiary of Reliance Industries, will invest Rs 65,000 crore in equity.

The board of Reliance Industries has approved the scheme of arrangement among its lenders of some classes including RGIL and debenture holders.

The identified liabilities will be transferred to OCPS Right Issue Reliance Industries up to Rs.1,08,000 crore and up to Rs.1,08,000 crore. Apart from the spectrum related liabilities, RGIL 31 will be net debt free by March 2020.

After Airtel and Vodafone-Idea, Jio will also increase call and data prices

As of September 30, 2019, Reliance Jio had 35.52 crore customers

(PTI) New Delhi, Ta. November 19, 2019, Tuesday

Millionaire Mukesh Ambani's company Reliance Jio has said in a statement that it will increase mobile phone calls and data charges in the next few weeks. Just a day ago, Bharti Airtel and Vodafone Idea announced an increase in calls and data charges from next month.

Geo further stated that like other operators we are working with the government and following the rules of the Regulatory. So that Indian consumers benefit. In the next few weeks, we will take some steps, including increasing tariffs, in a way that does not affect data consumption or growth.

Vodafone-Idea reported a loss of Rs 50,921 crore in the quarter ended September 30, while Airtel reported a loss of Rs 23,045 crore. Reliance Jio's net profit, on the other hand, was up 45.4 per cent to Rs 990 crore.