• About
  • Contact
Wednesday, January 20, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home Industries

Reliance Industries (RIL) Hits ₹ 12 Lakh Crore Market Cap On Monday

Pritish raj by Pritish raj
July 6, 2020
in Industries, News
2 min read
0
RIL Top 50 Companies Market Cap Debt Free- Next Big Brand

RIL Debt Free- Next Big Brand

Share on FacebookShare on Twitter
  • Reliance Industries (RIL) reached a fresh record high of Rs 1,847.7, up 3.4 percent on Monday’s BSE, and hits Rs 12 Lakh crore market cap

Reliance Industries(RIL) reached a fresh record high of Rs 1,847.7, up 3.4 percent on Monday’s BSE, and hits Rs 12 Lakh crore market cap after the company bagged 12th foreign investment for its digital arm Jio Platforms on Friday. The oil-to-telecom behemoth announced a 0.39 percent stake sale to Intel Capital for Rs 1,894.50 crore in its digital services subsidiary.

Intel Capital is a branch of Intel, the world’s largest manufacturer of semiconductors. It joins 11 other investors, including sovereign funds and private equity firms that now own 25.09 percent of Jio Platforms collectively.

Jio has raised Rs 1.17 lakh crore through stake sales in the past two months to strengthen its digital services business and accelerate its debt reduction goals.

The stock traded 3.27 percent higher at 1:20 am on the BSE at Rs 1.84595. Till the time of writing this report, a combined 15.20 million shares had changed hands on the NSE and BSE counters. On top of that, its market capitalization (m-cap) hit a fresh Rs 11,70,222.37 crore, BSE data shows. Combine it with m-cap Partly-Paid shares in Reliance Industries, whose m-cap stood at Rs 40,005.09 crore, the overall m-cap crossed Rs 12 trillion marks.

The company crossed the Rs 11 lakh crore market-cap-mark on June 19 when it revealed it had become net-debt-free well in advance of its March 2021 deadline.

Along with the petro-retail JV’s stake sale to BP, the total fundraising exceeds Rs 1.75 lakh crore. RIL has been net debt-free with these investments. The net-debt of the company was Rs 161,035 crore, like Mukesh Ambani, chairman, RIL had said in a statement on March 31, 2020.

“We have received significant interest in our consumer businesses, Jio and Reliance Retail, from strategic and financial investors. In the next five years we will move towards listing both of these companies, “he had said.

After petrochemicals and refining, digital services accounted for just 10 percent of the company’s operating profit in FY18 and we’re the third largest segment in FY20. HSBC analysts, however, projected it to contribute 36 percent of RIL ‘s consolidated operating profit to FY21, the highest in all segments. The next round of value unlocking in RIL is expected to drive both the digital and, more importantly, the retail sector.

For those at Morgan Stanley, Jio Platforms asset monetization along with the $7 billion issues of rights should reduce net debt for RIL by more than half.

“Multiple catalysts are in play with faster deleveraging than expected, improving demand and margin outlook on refining and chemicals, 23 percent CAGR top-quartile earnings over F20-23, and multiple-supporting digitization,” the brokerage said in a report issued on July 4.

Previous Post

BillDesk Planning To Sell Off Whole Company For $2.5 Billion

Next Post

Sandeep Anand (CMO, Food Delivery, Zomato) Resigns From His Post

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change
News

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

January 19, 2021
Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round
News

Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round

January 19, 2021
Hike Messaging App Shuts Down: Vanishes from Play Store and App Store
News

Hike Messaging App Shuts Down: Vanishes from Play Store and App Store

January 19, 2021
Cure.fit Empowers its US Operations with Onyx Acquisition
News

Cure.fit Empowers its US Operations with Onyx Acquisition

January 18, 2021
Big Bull Backed Nazara Technologies Becomes first Indian Gaming Company to File for IPO
News

Big Bull Backed Nazara Technologies Becomes first Indian Gaming Company to File for IPO

January 19, 2021
Under Pressure WhatsApp Delays its Controversial New Policy Update
News

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
Next Post
Sandeep Anand Zomato

Sandeep Anand (CMO, Food Delivery, Zomato) Resigns From His Post

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

T-series

T-Series Expands Into Digital Sphere With Web Series

2 years ago
Corona Beer Brand- Next Big Brand

Corona Virus Affects The Demand & Brand Image Of Corona Beer

11 months ago
Nita Ambani Philanthropist- Next Big Brand

Nita Ambani Is Among World’s Top Philanthropist In 2020: Town & Country

7 months ago
Swiggy losses Orders- NextBigBrand

Swiggy Delivers over 500 million orders a year,Crosses 2020 Target

1 year ago

FOLLOW US

  • 22.3k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal
  • Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change
  • Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round

Instagram

Follow Me!

Latest News

Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal

Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal

January 19, 2021
Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

January 19, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.