RIL becomes first Indian company to cross Rs 8 trillion in market cap

Thus far in calendar year 2018, RIL has outperformed the benchmark indices to rally 36.85%


Markets News: Reliance Industries on Thursday became the first company to cross Rs 8 trillion in terms of market capitalisation (market-cap), becoming the country's most valued firm

At 1:59 pm, RIL's market capitalisation (m-cap) stood at Rs 8.01 trillion. In intra-day deals, the stock hit a new high of Rs 1,262.95, up over 1%, extending its gains over the past four trading days.

Thus far in calendar year 2018, Mukesh Ambani-controlled RIL has outperformed the benchmark indices and rallied 36.85%. In comparison, the S&P BSE Sensex has gained 12.53% during this period.
The company recently reported 17.9% year-on-year (y-o-y) growth in consolidated net profit at Rs 94.59 billion in June quarter (Q1FY19). During the June quarter, its consolidated revenue grew 56.5% yoy at Rs 1,417 billion.

The company’s consumer businesses accounted for nearly 21% of consolidated segment EBITDA. Retail business revenues have more than doubled and EBITDA has trebled on a yoy basis. Jio added a record number of subscribers, highlighting the compelling technology and value proposition that Jio offers vis-à-vis other networks.

Read our full coverage on Reliance Industries

Article Source>> BS


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