In order to become one of the world’s largest consumer market, RIL has offered a significant stake in its local retail unit Amazon.com. The expansion of this company has no limit, it has acquired so many companies that now RIL has become the 44th biggest firm globally and has a value of $200 million market-cap. The market cap of RIL solely is equal to the market cap of HDFC Bank and TCS.
The companies in which RIL has lately invested in is the telecom and retail business. The stock price has rose over 54% on a year-to-date basis and has gained about 166 percent from its 2020 low of Rs. 867. Even after the companies acquired the price band going on in the reliance stock was running in an uptrend consolidation. The stock price reached its life-time high of Rs. 2343.90 on 10th September.
RIL now ranks among companies such as Pfizer, AT&T, Intel Corp, Toyota Motor Corp, Coca-Cola, Netflix, Bank of America, PayPal Holdings, Adobe which have a market cap in the range of $201 to $230 billion.
Jyoti Roy- DVP, Equity Strategist at Angel Broking told moneycontrol that, “We expect the company to attract further investments in the retail business from other investors which could lead to another round of re-rating for the company. We remain positive on Reliance industries and expect that the digital and the retail business will be the future growth drivers for the company.”
Ambani said that he had received strong interest from strategic and financial investors in the retail business and also said that he will be finalizing deals and partnerships in the coming quarters. He also said that RIL will hold an IPO of the consumer business in the future.
Reliance is the only company from the Nifty50 universe that has rallied more than 150 percent from March lows and is also among top four companies (Tata Motors, M&M and Hindalco Industries) which doubled investors’ wealth.
NEWS REPORTED BY:
VRIDHI BHAGNARI.
