Reliance is the first Indian company to achieve a market cap of Rs 11.43 lakh crore

(Commercial Representative) Mumbai, Ta. Monday, June 22, 2020

Reliance Industries Ltd today became the first Indian company to achieve a market capitalization of Rs 11,43,667 crore, or 150 150 billion.

With the company's share price opening this morning, the market capitalization rose by Rs 28,248.97 crore to a new historic high of Rs 1,804.10 crore and at one stage touched a new high of Rs 11,43,667 crore. Which crossed the 150 billion level in dollars.

However, the company's stock rose by Rs 12 to close at Rs 1747.20, down Rs 12.30 on the BSE. At today's closing price, the market capitalization stood at Rs 11,07,620.56 crore. The stock closed at Rs 1752.50 on the NSE, setting a new record high of Rs 1804.20.

Mukesh Ambani, chairman and managing director of Reliance Industries, announced last weekend that the company was completely debt free. The company raised over Rs 1.15 lakh crore from global investors in its Geo Platforms venture and over Rs 53,124.20 crore through rights issue, raising a total of Rs 1.69 lakh crore in just two months. The company had a net debt of Rs 1,61,035 crore as on March 31, 2020.