Six of the 10 most valued Indian companies suffered a combined erosion of Rs 64,419.10 crore in market valuation last week, with RIL taking the biggest knock.
Last month, RIL had added another feather to its cap by becoming the first Indian firm to hit the Rs 9 lakh crore market valuation mark in intra-day trade. In August 2018, RIL became the first domestic firm to cross the Rs 8 lakh crore mark in terms of market valuation.
Equity benchmark BSE Sensex jumped over 100 points in early trade on Monday led by gains in index heavyweights RIL and ICICI Bank amid positive cues from global markets.
In the 658 page prospectus launched on Sunday, Saudi Aramco highlighted its proposed investments in RIL in the column for proposed acquisitions.
With this, the market capitalisation (m-cap) of the company reached Rs 9,00,000.39 crore. The country's most valuable company on Friday posted a record quarterly net profit of Rs 11,262 crore as a steady rise in the share of its consumer businesses of retail and telecom countered lower earnings from traditional petrochemical and refining segment.
Billionaire Mukesh Ambani's Reliance Industries (RIL) on Friday added another feather to its cap and became the first Indian firm to hit the Rs 9 lakh crore market valuation mark. During late morning trade on BSE, the company's market capitalisation (m-cap) was Rs 9,01,490.09 crore.
No rise in Ambani's stake,The sole beneficiary of Petroleum Trust is Reliance Industrial Investments and Holdings Limited (RIIHL), a 100 per cent subsidiary of RIL and hence the ultimate beneficiaries of these shares are the shareholders of RIL.
Richest Indian Mukesh Ambani on Monday announced plans to sell stakes in his flagship Reliance Industries' oil and chemical business to Saudi oil giant Aramco and in fuel retail network to BP plc of UK for a combined Rs 1.15 lakh crore as he looked to make his company a zero-net debt firm in 18 months.
Reliance Industries Ltd on Thursday became the first Indian private sector company to report a quarterly profit of more than Rs 10,000 crore after record earnings from petrochemical, retail and telecom business offset a dip in refinery margins.
Benchmarks rallied to fresh lifetime highs on Wednesday on persistent investor appetite for market heavyweight RIL, while the broader buying momentum got a fillip after IMF underlined India's role as a source of global growth
State-owned Indian Oil Corporation (IOL), the highest ranked Indian firm, figures at 137th spot in the list while Reliance Industries (RIL) jumped 53 places to reach 148th position.
Shares of RIL surged 2.75 per cent to Rs 1,181.35 on Tuesday, while the shares of TCS fell by 0.79 per cent to Rs 1,929.55.
Ambani has been appointed for a period of five years, which commences from April 19, 2019.
The BSE Sensex surged 286.43 points to close at 35,798.01 while the broader NSE Nifty ended at 10,966.20.
Shah Rukh Khan, Alia Bhatt, Amitabh Bachchan and Ranbir Kapoor pose for an iconic picture together
Global ratings agency Moody's has lowered the credit outlook on Reliance Industries to 'stable' from 'positive' but retained the Baa2 ratings its long-term debt.
RIL chairman Mukesh Ambani's wealth rose 67 per cent from $22.7 billion last year to $38 billion this year making him one of Asia's top 5 richest.
Reliance Industries Ltd on Thursday reported its highest quarterly consolidated net profit of INR 9,108 crore in three-months.
The consortium has refused to pay a collective demand of $3 billion by the Oil ministry as shortfall in its share of profit till a tribunal in the UK gives its final award in an ongoing arbitration case
The government has ordered the three companies to pay $3 billion in penalty over a dispute in the PMT oil field that went against the firms
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