More

    Reliance to become first Indian company to hit market capital of Rs 10 lakh crore

    Must Read

    Baroda girl Maitri Joshi youngest religious YouTuber

    Post videos of Shlokas, Stotras and bhajans regularly to reach larger audience At her...

    ‘IDEX: Innovation for Defence Excellence’ Seminar at IIMA Ahmedabad

    In an effort to scale up and give a boost to the defence start ups ,a seminar on...

    Two former employees kidnapped by the old company people in Vadodara

    Video goes viral police further investigating Two persons who left the job from...

    Mukesh Ambani-led Reliance Industries Ltd (RIL) today became the first Indian company to hit the Rs10 lakh crore in market cap. RIL shares have performed outstandingly in the market since the start of this year.

    Investors were encouraged after Mukesh Ambani announced plans to cut the company’s net debt to zero in 18 months through measures including a stake sale in the oil-to-chemicals business to Saudi Aramco. Recently, its telecom arm Jio announced that it will increase duties in the next few weeks.

    RIL operates the world’s biggest oil-refining complex in Jamnagar, Gujarat, which can process low-quality crude and turn it into higher-grade fuels, partly protecting it from volatility in prices.

    Last month, RIL had announced that it would invest over Rs100 lakh crore to create a digital services company as it seeks to cut debt at Jio, potentially making way for the entry of a strategic investor.

    Last month, BofAML in a report said that RIL can become the first Indian company to achieve a market capitalisation of $200 billion on the back of its new commerce venture and fixed broadband business.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    This site uses Akismet to reduce spam. Learn how your comment data is processed.

    - Advertisement -

    Latest News

    Baroda girl Maitri Joshi youngest religious YouTuber

    Post videos of Shlokas, Stotras and bhajans regularly to reach larger audience At her...

    ‘IDEX: Innovation for Defence Excellence’ Seminar at IIMA Ahmedabad

    In an effort to scale up and give a boost to the defence start ups ,a seminar on IDEX: Innovation for Defence Excellence’ followed...

    Two former employees kidnapped by the old company people in Vadodara

    Video goes viral police further investigating Two persons who left the job from a company were kidnapped by...

    ASUS announces Exclusive Store launch in Vadodara

    ASUS India announced the launch of its state-of-the-art new store in Vadodara with an aim to connect the tech savvy people added with attractive...

    Afghanistan : Blast Outside Main US Base In Bagram, 5 Injured

    A suicide bomber in Afghanistan detonated explosives on Wednesday outside the United States’ main military base of Bagram in an attack that wounded five...
    - Advertisement -

    More Articles Like This

    - Advertisement -