-
The Personal Data Protection Bill, 2019 -
-
Representation of women in Indian companies raises by 30% -
-
Top 10 richest Indian of real estate Industries -
-
Know the market changing behavior while you were sleeping -
-
PM urges people Contribute towards welfare of armed forces -
-
US completes implementation of H-1B electronic registration process for 2021 season -
-
WILDCRAFT LAUNCHES NEW AGE DUFFEL TROLLEYS -
-
An Inspiring Journey of Wedding Photographer -
-
Nokia launches its first smart TV in India: salient feature & price -
-
Digital Marketing industry will grow at a pace of 25-30% in the next five years: Report -
RIL become first Indian company to hit 10 lakh crore
Oil-to-telecom major Reliance Industries (RIL) on thursday became the first company in India to hit the market capitalisation of Rs 10 lakh crore, after its shares rose to a record high of Rs1,581 apiece. RIL was also the first company to reach Rs 8 lakh crore mark in August last year.
10 things to know about market capitalisation:
1) Recently, RIL’s telecom unit Jio announced that it will increase tariffs soon after other telecom operators announced plans for a price hike.
2) Sanjiv Bhasin, director of IIFL Securities, says remains positive on RIL shares. RIL’s consumer-centric businesses like Jio, retail and other technology businesses are expected to see strong growth, he says.
3) In the immediate term, a price increase by Jio would benefit its average revenue per user, he added. Mr Bhasin also remains positive on Bharti Airtel.
4) Reliance Jio, which has a user base of about 35 crore users, had posted a stand-alone profit of Rs 990 crore for the quarter ended September 30 on revenue of Rs 12,354 crore.
5) Last month, RIL announced that it will set up a holding company for its digital services business, including telecom, potentially making way for the entry of a strategic investor.
6) RIL will infuse over Rs1 lakh crore in the new company in the form of so-called optionally-convertible preference shares. Following the equity infusion, Reliance Jio will transfer liabilities worth over 1 lakh crore to the subsidiary of the parent, turning Jio almost debt free by March 31, 2020, excluding airwave-related liabilities.
7) Mukesh Ambani had earlier this year announced plans to cut RIL’s net debt to zero in 18 months through measures, including a stake sale in the oil-to-chemicals business to Saudi Aramco. RIL had in August also announced a deal that gives the European oil major a 49% stake in the Indian conglomerate’s fuel retail business.
8) With likely receipt of Rs 1.1 lakh crore from Aramco and BP in FY21, RIL is on course to achieve its target of zero net debt, says Edelweiss Securities, which has a buy rating on the stock with target price of Rs 1,716/share.
9) RIL operates the world’s biggest oil-refining complex in Jamnagar, Gujarat, which can process low-quality crude and turn it into higher-grade fuels, partly protecting it from volatility in prices.
10) Last month, BofAML in a report said that RIL can become the first Indian company to achieve a market capitalisation of $200 billion on the back of its new commerce venture and fixed broadband business. (With Agency Inputs)