Jan 30, 2024
By: Sourabh JainReliance Industries share price rallied on Monday to close at ₹2,896, marking the biggest one-day gain for the company’s share price in 40 months, since September 2020.
Credit: Reliance-Industries
With this rally, the market cap of Mukesh Ambani-led Reliance Industries has crossed the ₹19 lakh crore mark, closing at ₹19.59 lakh crore on Monday. The company has provided a gain of 20.74 percent in the last one year.
Credit: Canva
The expected listing of Reliance’s telecom and retail businesses has contributed to the rally, in addition to foreign funds hedging their short positions on the index by investing in Reliance Industries.
Credit: Reliance-Industries
Reliance Industries surpassed PetroChina Co and Shell Plc to become the fourth most valuable energy company globally. It is now behind Saudi Aramco, Exxon Mobil and Chevron Corp.
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The rally in the share price of Reliance Industries has increased the net worth of Mukesh Ambani by $6.86 billion, taking the net worth of India’s richest man to $108 billion. He is now the world’s 11th richest man.
Credit: BCCL
Tata Consultancy Services is India’s second biggest company, with a market cap of ₹13.91 lakh crore. The company has provided a return of 11.24 percent in the last one year.
Credit: IANS
The newly merged entity HDFC Bank is third in terms of valuation in India, with a market cap of ₹11.05 lakh crore. The company’s share price has declined by 10.27 percent in the last one year.
Credit: BCCL
ICICI Bank is the fourth biggest company in India with a market cap of ₹7.14 lakh crore. The company’s share price has increased by 23.33 percent in the last one year.
Credit: BCCL
Tech giant Infosys is the country’s fifth biggest company, with a market cap of ₹6.87 lakh crore. The company has provided a return of ₹9.33 percent in the last one year.
Credit: Infosys