Reliance Industries Limited (RIL) has made history by becoming the first Bharat company to surpass a market capitalization of Rs 20 lakh crore. This achievement comes as RIL’s shares soared to a 52-week high of Rs 2,958, marking a nearly 2 percent increase. Notably, RIL’s shares surged by 1.88 percent to reach Rs 2,957.80 on the Bombay Stock Exchange (BSE).
This remarkable surge in RIL’s market capitalization has had a significant impact on the wealth of its chairman, Mukesh Ambani. Ambani’s fortunes have skyrocketed to $109 billion, marking a $12.5 billion increase in 2024 alone. With this surge, Ambani retains his position as the richest Indian and ranks 11th globally, according to the Bloomberg Billionaire Index.
Over the past decade, Reliance has successfully diversified its business portfolio, transitioning from a traditional oil and gas entity to a leader in digital services and retail. In the telecom sector, RIL has emerged as an industry frontrunner, investing heavily in 5G infrastructure, according to brokerage BNP Paribas.
BNP Paribas, in its report, highlighted RIL’s advantageous position to capitalize on the growing data demand in India and potential tariff increases. It values RIL’s telecom business at 11 times FY26 EV/Ebitda, slightly higher than its peers due to Jio’s substantial upfront investments in infrastructure and digital expansion.
Additionally, Reliance Retail, another arm of the conglomerate, is valued at 35 times FY26E EV/Ebitda, considering its rapid store-space expansion and promising growth prospects. The brokerage has set a target price of Rs 3,080 on RIL.
Furthermore, the oil-to-chemicals (O2C) division of Reliance is valued at 7.5 times FY26E EV/Ebitda, reflecting its higher refining margins and private ownership compared to government-controlled oil marketing companies (OMCs).
This milestone underscores Reliance Industries’ continued growth trajectory and its successful transformation into a diversified powerhouse with a strong foothold in key sectors driving India’s economic growth.
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