Mukesh Ambani enters $100 billion club as RIL stock hits a record high

Sep 6, 2021

By: Bhakti Makwana

RIL shares hit record high

Reliance Industries Limited (RIL) has gained more than 3 percent hitting a new lifetime high, on September 6, as its subsidiary acquired a majority stake in genomic testing firm Strand Life Sciences for ₹393 crore.

Credit: BCCL

Reliance Retail buys Just Dial

In the previous trading session, the stock had gained 4 percent after its subsidiary Reliance Retail Ventures acquired a controlling stake in Just Dial.

Credit: BCCL

Mukesh Ambani's enters $100 billion club

With this RIL Chairman Mukesh Ambani’s net worth has reportedly surpassed the $100-billion mark, on Monday, as the value of his family stake in RIL rose with increase in the share price.

Credit: BCCL

Mukesh Ambani's enters $100 billion club

As on Friday, September 6, Ambani's net worth stood at $92.60 billion — around $10 billion lesser from Warren Buffett's net worth of $102.6 billion, as per Bloomberg Billionaires Index.

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M-cap of RIL crosses ₹16.3 trillion

The company's market capitalisation reached ₹16.3 lakh crore ($223 billion) as of September 6, 11:32 a.m.

Credit: Reliance-Industries

Stock may rally more

Analysts expect the rally in stocks to continue on several positive prospects looking good for the behemoth.

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Talks on RIL may buy T-Mobile Netherlands BV

Reports say RIL is set to make a $5.7 billion non-binding offer to acquire a controlling stake in T-Mobile Netherlands BV, the country’s largest telecom operator

Credit: Reliance-Industries

JioPhone Next smartphone to launch soon

The stock may gain limelight in the coming week in anticipation of the launch of the JioPhone Next smartphone.

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Prospects of RIL and Saudi Aramco deal

Apart from this, reports of Saudi Aramco in advanced talks to acquire a roughly 20 percent stake in RIL’s oil refining and chemicals business will also add to the optimism.

Credit: BCCL

Benchmark indices

BSE Sensex and Nifty 50 hit another record high on September 6 led by Reliance Industries' sharp rally in stock price.

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Benchmark indices

In the last one month, the Sensex and Nifty are up about 7 percent, while RIL has gained over 17 percent.

Credit: Pixabay

One of India’s top bankers warns of volatile times ahead in the markets ⁠— stocks, cryptos, bonds et al