In fact, the net worth of Reliance Jio, which made for about 42% of RIL’s consolidated revenue, is now worth ₹5.16 lakh crore, just a little short of HDFC Bank’s ₹5.7 lakh crore.
RIL shares have gained nearly 23% in the last one month but the stock is still 9% away from its 52-week high, and 8% away from its 2-year high.
A series of fundraisings— from Facebook to the Saudi Arabian royal family— worth nearly $23 billion in a little less than two months, pulled down the company’s net debt to zero. Aside from this, Ambani managed to raise another ₹53,000 crore (about $7 billion) via rights issue to shareholders.
Reliance Industries has been one of the four stocks— Nestle, Britannia, and Hindustan Unilever (HUL) in the last three years. It has more than doubled investors’ wealth, a return of 121%, while the Nifty went from 9,500 to 12,000 and came back to near 10,000.
Not surprisingly, Ambani added almost $28 billion to his fortune within four months, regaining all the net worth he lost because of coronavirus.