Reliance Industries Becomes 1st Indian Company to Hit $250 Billion in M-cap

Reliance Industries Ltd. becomes the first Indian co to hit market cap of $250 billion. The market cap gap between two of India’s most valued Indian companies (Reliance, TCS), widened further in the last four months. Reliance Industries saw an increase of ~$20 billion while TCS saw a decline of ~$20 billion in its market cap in 2022.

RIL is one of India’s biggest conglomerates with a presence in refining or marketing petrochemicals (O2C), oil and gas exploration, retail, digital services and media, making it a well-diversified business entity. In the April-December period (9MFY22), O2C and oil and gas contributed 50 per cent to the EBITDA level whereas retail, digital, and others contributed 10 per cent, 34 per cent, and 6 per cent, respectively.

RIL and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi. The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC), and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications.

This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company.

At 12:25 pm, Reliance Industries Ltd. Shares were trading at Rs 2,834.20 or 2.03 per cent higher on Thursday.

Disclaimer:Network18 and TV18 – the companies that operate – are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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